The
benzoin essential oil finds its use in the field of medicine and
incense applications since the time of the Ancient Greeks. Benzoin
also goes by the name of gum benzoin, gum benjamin, and benjamin.The
tree from which Benzoin resin is obtained is called Styrax benzoin.
This tree was originated in Vietnam and Laos and have also been
identified to be grown around Java, Sumatra as well as Malaysia. The
benzoin is a gum resin that releases from the bark after tapping and
this process can take up to 15 to 20 years. The resin is yellowish
when it exudes from the bark and eventually, it becomes brownish-red
after the process of thickening and hardening. The resin is cleaned
and is available in the powdered form. When this powder is mixed with
alcohol, it is referred to as tincture of benzoin. There are two
forms of tincture available: simple and compound but the latter one
is too strong to be applied on the skin and neither can be used for
other purposes attributed to an essential oil. The principal
constituents of the benzoin essential oil are benzoic acid, benzyl
benzoate, benzaldehyde, cinnamic acid, coniferyl benzoate, and
vanillin. Vanillin is the prime component in the aromatherapy and
related incense applications majorly contributing to the vanilla like
essence of benzoin essential oil.
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SEGMENTATION:-
The
benzoin essential oil market can be segmented on the basis of
application and distribution channels. On the basis of application,
the benzoin essential market can be segmented into cosmetics,
therapeutics and incense. The benzoin essential oil market is primly
pushing forward on the backdrop of its incense application. The use
of the benzoin oil is still unable to reach its prime elevation in
the apothecary industry. On the basis of distribution channels, the
benzoin essential oil market can be segmented into
hypermarkets/supermarkets, online retailers, specialty stores,
convenience stores and others.
GLOBAL MARKET DRIVERS:-
The
drivers of benzoin essential oil market can be mainly attributed to
its manifold properties such as antidepressant, disinfectant,
diuretic, vulnery, anti-inflammatory, antiseptic, sedative,
carminative, cordial as well as rheumatic. Benzoin is a gum resin or
a sap which can be used as a medicine unlike other Styrax tree
species. It can be taken orally to reduce swelling in the breathing
passage. It can also be used to reduce bleeding from the gums.
Moreover, with the amalgamation with other herbs, the benzoin
essential oil is also used as a skin protectant. Apart from the
popularized incense application, the benzoin essential oil is used to
treat bedsores, cracked skin as well as bedsores. The benzoin
essential oil market has significant potential in the near future
owing to its calm and soothing effect that substantiates its use in
aromatherapy. However, despite of the manifold positive effects of
benzoin oil on our health, it still requires a substantial push in
the nutraceuticals market.
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REGIONAL
OUTLOOK:-
The
South Asian countries such as India, Indonesia, Singapore, Malaysia,
Sri Lanka and others lead as the top exporters as well as
manufacturers of the benzoin essential oil market followed by North
America and Europe. Most imports have been witnessed by the countries
like U.S, Germany, U.K, China, Saudi Arabia, France, and others. Asia
will remain as a potential market attributing to the growing
economies of India and China. Furthermore, great potential in the
benzoin essential oil market can be attributed to its diverse uses.
MAJOR
KEY PLAYERS: -
The
key players who are majorly driving the global benzoin essential oil
market forward are Piping Rock Health Products, LLC, First Natural
Brands LTD, Source Vitál , Magnolia, Ancient Wisdom Essential Oils
, Nature's Oil and others.
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