The global myrrh essential oil market is anticipated to grow at a significant CAGR during the forecast period (2022- 2028). An essential oil is a liquid containing aroma or fragrance compound taken from different parts of plants. They are also called as ethereal oils, volatile oils, or aetherolea. An oil is considered to be essential as it contains the essence of plants, which is one of the main causes to provide the fragrance and aroma to the oil. Essential oils are mainly used in cosmetics, soaps, perfumes and other personal care products. Nowdays essential oils are being used in the food and beverage industry in order to increase the aroma of the food product. It is used during the aromatherapy, as it induces relaxation for the body.
Myrrh essential oil is a reddish-brown dried sap from a thorny tree. A stream distillation process is used to extract myrrh essential oil, which is amber to brown in color and has an earthy scent. This oil has been used for many years in incense and perfumes as it supports promote physical and emotional health and has also been used for healing wounds. Myrrh essential oil is used in aromatherapy as it supports to reduce discomfort caused due to respiratory problems and relief from cold, cough, congestion and phlegm. It is also known to stabilize emotions, and shift negative moods.
Myrrh essential oil possesses anti-inflammatory properties as it supports calm inflammation in the case of viral infection and fever. It also has an acidic property, which prevents excessive bleeding from wounds. Some major players in the market include PRZ Herbal Care, Deve Herbes, and Rocky Mountain Oils, LLC, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Application
- By End-Use
- By Distribution Channel
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- PRZ Herbal Care, Deve Herbes, and Rocky Mountain Oils, LLC, among others.
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Global Myrrh Essential Oil Market Report by Segment
By Applications
- Aromatherapy
- Skin Care
- Flavoring Agent
By End- Use
- Food and Beverage
- Household Care
- Healthcare
- Cosmetics
- Personal Care
By Distribution Channel
- Supermarkets
- Specialty Stores
- Convenience Stores
- Online Retail
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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