Global Myrrh Powder demand is anticipated to grow at a CAGR of 4.2% over the forecast period. Myrrh is a reddish-brown gum or resin derived from a variety of small tree species. The clarity and darkness of myrrh powder are well known. One of the most important ingredients in Egyptian perfumery is myrrh powder. It has a musky aroma and is a resinous powder.
Because of the growing popularity of myrrh powder, the food industry has been inspired to investigate new and efficient methods for the development of myrrh powder and its applications within the industry. Myrrh powder is also used in other industries such as pharmaceuticals.
It is effective in treating ulcers, indigestion, colds, asthma, bronchial congestion, arthritic pain, leprosy, syphilis, and cough. Myrrh powder is used as a flavoring agent in a variety of commercial products in the food and beverage industry.
Commiphora myrrh powder, a type of myrrh powder, is used in a variety of manufacturing processes, including the production of fragrances and cosmetic fixatives. This diverse use of myrrh powder in various end-use industries will boost market growth during the forecast period.
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Myrrh powder is a favorite among all cultures due to its earthy aroma. Myrrh powder was used as incense in funerals and cremations in ancient Somalia and Ethiopia.
Myrrh resins contain volatile oil and mucilage, which have antimicrobial, deodorizing, antitumor, anti-inflammatory, and astringent properties. Myrrh powder, which is extracted from it, can aid in peristalsis and muscle smoothing. Aside from that, this powder has been shown to increase uterine blood flow.
Myrrh powder and myrrh oil account for a significant portion of global myrrh production. The Myrrh powder market is expected to grow significantly in the coming years due to its numerous benefits.
Myrrh Powder is also used as a stimulant to increase menstrual flow. The global demand for medicinal products is expected to drive the Myrrh Powder market. Furthermore, the global personal care industry will have a positive impact on the global Myrrh Powder market. Rising spending on dermatological or topical solutions and perfumes is expected to expand the personal care products industry, driving demand for Myrrh Powder.
Stringent regulation for Myrrh Powder from various government bodies such as the USDA, FDA, and others are some of the key factors that are likely to impede the growth of the Myrrh Powder market. The adverse effects of Myrrh Powder, such as carcinogenic toxicity levels and hypersensitivity reaction inducing properties, are likely to limit the market growth.
Various growth factors are expected to propel Germany, the United Kingdom, and France. Companies in France have numerous opportunities in Europe to market gums and resins such as myrrh powder, Arabic gum, and others.
The French cosmetics and food market is being propelled by a trend encouraging the purchase of natural products, as social and environmental concerns become more important in consumer decision-making. Manufacturers are increasingly looking for new natural ingredients to add to their product lines. This trend is assisting European market growth.
However, APAC, primarily China and India, is expected to emerge at the fastest rate between 2022 and 2032. This expansion is attributed to the growing influence of the Western lifestyle and increased awareness of the health benefits of the Myrrh Powder product. Because of the abundance of raw materials, the Asia Pacific myrrh powder market, particularly in India, is expected to be lucrative in terms of revenue generation.
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Mountain Rose Inc., Texas Natural Supply, Oregon's Wild Harvest, Amazon Discovery, Monterey Bay Spice Company, Organic Creations Incorporated, TheEclecticeuphoria, LIVING EARTH HERBS, Austral Herbs, G. Baldwin & CoNature's Warehouse, Tinderbox, Scents of Earth, Crafters Choice, and JustIngredients Limited are some of the key suppliers and producers operating in the global Myrrh Powder market.
Companies are actively collaborating by acquiring international and domestic players to broaden their product portfolios and distribution channels in the emerging market. Another important factor for manufacturers to improve technologies is technological advancements
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.2% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million, Volume in Kilotons and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Nature, Sales Channel, End Use, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; APEJ; Japan; Middle East and Africa |
| Key Countries Profile | USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | Mountain Rose Inc.; Texas Natural Supply; Oregon's Wild Harvest; Amazon Discovery; Monterey Bay Spice; Company, Organic Creations Incorporated; TheEclecticeuphoria; LIVING EARTH HERBS; Austral Herbs; G. Baldwin & Co.; Nature's Warehouse; Tinderbox; Scents of Earth; Crafters Choice |
| Customization | Available Upon Request |
FMI projects the global Myrrh Powder market to expand at a 4.2% value CAGR by 2032.
Asia Pacific is expected to be the most opportunistic Myrrh Powder market, expanding at a 5% CAGR.
Mountain Rose Inc., Texas Natural Supply, Oregon's Wild Harvest, Amazon Discovery, Monterey Bay Spice Company, Organic Creations Incorporated, TheEclecticeuphoria, LIVING EARTH HERBS, Austral Herbs, G. Baldwin & Co., Nature's Warehouse, Tinderbox, Scents of Earth, Crafters Choice are some prominent Myrrh Powder manufacturers.
| Estimated Market Size (2024E) | USD 461 million |
|---|---|
| Projected Market Value (2034F) | USD 702 million |
| Value-based CAGR (2024 to 2034) | 5.9% |
| Market Value (2024) | USD 26.9 billion |
|---|---|
| Forecast Value (2034) | USD 55.81 billion |
| Growth Rate (2024 to 2034) | 7.60% |
| Estimated Market Size (2024) | USD 35.26 billion |
|---|---|
| Forecasted Market Size (2034) | USD 51.89 billion |
| Projected Value CAGR (2024 to 2034) | 3.90% |
| Market Value (2023) | USD 1,011.0 million |
|---|---|
| Market Expected Value (2033) | USD 1,745.8 million |
| Market Projected CAGR (2023 to 2033) | 5.6% |
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Myrrh Powder Market
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