PUBLISHER: Polaris Market Research | PRODUCT CODE: 1421623
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1421623
The global myrrh gum market size is expected to reach USD 307.02 million by 2032, according to a new study by Polaris Market Research. The report "Myrrh Gum Market Share, Size, Trends, Industry Analysis Report, By Form (Powder, Liquid); By Nature; By End-Use Industries; By Region; Segment Forecast, 2023 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
The market for personal care products is anticipated to expand, which is predicted to increase demand for myrrh gum. This is due to increased costs for topical or dermatological treatments as well as perfumes. A recent study published in 2022 reviewed the applications of myrrh. A study revealed that Commiphora myrrha (myrrh) & Boswellia serrata (frankincense) extracts help improve the moisture and suppleness of the skin while preventing ageing, acne, and spots. Additionally, myrrh gum is utilized as a stimulant and to boost menstrual flow. The market for myrrh gum is anticipated to be driven by the global need for pharmaceuticals. Additionally, the global myrrh gum market will benefit from the expanding personal care sector around the world, driving its demand soon.
Global cosmetic firms are interested in using myrrh and frankincense in various cosmetic products because they have anti-inflammatory and antioxidant properties that considerably benefit human health. A study published in Springer focused on the effectiveness of myrrh in controlling inflammation. A study revealed that myrrh extract has anti-inflammatory qualities and reduces the liver-damaging effects of prednisolone. In conjunction with prednisolone, myrrh extract can be used to treat autoimmune disorders. This demonstrates ongoing research and development activities among the manufacturers to innovate new products in the marketplace.
Moreover, with or without the addition of other components, the gum of myrrh has a variety of uses. For instance, they can be applied to the hair and scalp for cosmetic purposes. The effectiveness of it in treating non-insulin-dependent diabetic mellitus (NIDDM) was recently demonstrated in preclinical trials. These studies are building trust and confidence among consumers and manufacturers of pharmaceuticals and personal care products to use products with myrrh gum as an ingredient and to add it to their product formulations to attract consumers with the knowledge of the benefits associated with myrrh gum.
Polaris Market Research has segmented the myrrh gum market report based on form, nature, end-use industries, and region: