Over the forecast period, global demand for myrrh powder is expected to expand at a CAGR of 4.2%. Myrrh is a reddish-brown gum or resin obtained from a range of tiny tree species. The purity and blackness of myrrh powder are widely known. Myrrh powder is a key element in Egyptian perfumery. It has a musky fragrance and is a resinous powder.
Myrrh is a reddish-brown resin or gum obtained from a small tree species. The powder is swiftly gaining popularity due to its inherent properties. Myrrh powder is a key component of Egyptian perfume. Myrrh powder is well-known for its smokey scent and resinous texture. Many individuals appreciate its earthy smell.
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In ancient times, Myrrh powder was used as incense in funerals and cremations in Somalian and Ethiopian cultures. The powder is quite effective in treating ulcers, indigestion, colds, asthma, syphilis, bronchial congestion, leprosy, arthritic pain, and cough. Myrrh resins contain volatile oil and mucilage, which have anti-inflammatory, anti-microbial, anti-tumor, deodorizing, and astringent characteristics. The Myrrh powder extracted from these resins assists with peristalsis and muscle smoothing as well as increases uterine blood flow. Further, Myrrh powder also gains usage as a flavoring agent in a wide range of commercial goods in the food and beverage industry.
Apart from the powder’s application in the food and beverage industry, the global demand for medicinal products with myrrh powder will likely fuel the growth of the target market. Moreover, the global personal care industry is expected to have a positive influence on the Myrrh Powder market due to increasing spending on dermatological or topical solutions and perfumes.
Myrrh powder and Myrrh oil are responsible for a major portion of global Myrrh production. The Myrrh powder market is predicted to present immense growth during the forecast period.
Key Takeaways:
- Strict regulatory measures and Myrrh powder-related adverse effects may dampen the growth of the Myrrh powder market.
- Rising adoption of Commiphora Myrrh powder in manufacturing processes will strengthen the prospects of the Myrrh powder market.
- Europe’s Myrrh powder market is mainly driven by the cosmetics and food sectors during the forecast period.
- The Asia Pacific region is expected to witness the fastest CAGR during 2022-2032.
- China and India will likely dominate the Asia Pacific Myrrh powder market.
Competitive Landscape
Key market participants are concentrating on bettering the technology involved in the market as well as keen on adopting advanced technology. These enterprises are actively adopting strategies like collaborations, acquisitions, and mergers to build and diversify their product portfolios as well as broaden their distribution channels to retain a competitive edge.
Mountain Rose Inc., Texas Natural Supply, Oregon’s Wild Harvest, Amazon Discovery, Monterey Bay Spice Company, Organic Creations Incorporated, The Eclecticeuphoria, and LIVING EARTH HERBS, among others, are some of the major players in the Myrrh powder market profiled in the full version of the report.
More Insights into Myrrh Powder Market
In its latest report, FMI offers an unbiased analysis of the global Myrrh powder market, providing historical data from 2015 to 2020 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of nature, end use, sales channel, and region.
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In terms of the nature type, the organic category is experiencing high demand due to prevailing trends of healthy living and greater emphasis on using organic products. Additionally, the food and beverages and pharmaceutical industries are projected to be the leading end-users in the global Myrrh powder market
Based on region, the Myrrh powder market in Europe will exhibit remarkable growth during 2022-2032. The target market in this region will reach a considerable value by 2032 due to the influence of the cosmetics and food industries. European countries like Germany, France, and the United Kingdom are anticipated to foster an environment of growth for the Myrrh powder market. In addition, a greater focus on using natural and organic products, sustainability drives, and rising concerns for the environment are some of the other factors that aid the growth of the Myrrh powder market in Europe as these factors play an important role in influencing consumer choices. In general, the surging awareness of health benefits associated with Myrrh powder and a focus on natural products will propel the global Myrrh powder market forward during the forecast period.
Global Myrrh Powder: Market Segmentation
On the basis of nature, the global Myrrh Powder market has been segmented as –
- Organic
- Conventional
On the basis of end use, the global Myrrh Powder market has been segmented as –
- Food and Beverages
- Pharmaceuticals
- Cosmetics and Personal Care
- Perfumeries
- Other
On the basis of sales channel, the global Myrrh Powder market has been segmented as –
- Direct Sales
- Indirect Sales
- Supermarket/Hypermarket
- Online Stores
- Retail Stores
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Author
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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