The benzoin essential oil finds its use in the field of medicineand incense applications since the time of the Ancient Greeks. Benzoin alsogoes by the name of gum benzoin, gum benjamin, and benjamin.The tree fromwhich Benzoin resin is obtained is called Styrax benzoin. This tree wasoriginated in Vietnam and Laos and have also been identified to be grownaround Java, Sumatra as well as Malaysia. The benzoin is a gum resin thatreleases from the bark after tapping and this process can take up to 15 to 20years. The resin is yellowish when it exudes from the bark and eventually, itbecomes brownish-red after the process of thickening and hardening. The resinis cleaned and is available in the powdered form. When this powder is mixedwith alcohol, it is referred to as tincture of benzoin. There are two forms oftincture available: simple and compound but the latter one is too strong to beapplied on the skin and neither can be used for other purposes attributed to anessential oil. The principal constituents of the benzoin essential oil arebenzoic acid, benzyl benzoate, benzaldehyde, cinnamic acid, coniferyl benzoate,and vanillin. Vanillin is the prime component in the aromatherapy and relatedincense applications majorly contributing to the vanilla like essence ofbenzoin essential oil.
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SEGMENTATION:-
The benzoinessential oil market can be segmented on the basis of application anddistribution channels. On the basis of application, the benzoin essentialmarket can be segmented into cosmetics, therapeutics and incense. The benzoinessential oil market is primly pushing forward on the backdrop of its incenseapplication. The use of the benzoin oil is still unable to reach its primeelevation in the apothecary industry. On the basis of distribution channels,the benzoin essential oil market can be segmented intohypermarkets/supermarkets, online retailers, specialty stores, conveniencestores and others.
GLOBAL MARKET DRIVERS:-
Thedrivers of benzoin essential oil market can be mainly attributed to itsmanifold properties such as antidepressant, disinfectant, diuretic, vulnery,anti-inflammatory, antiseptic, sedative, carminative, cordial as well asrheumatic. Benzoin is a gum resin or a sap which can be used as a medicineunlike other Styrax tree species. It can be taken orally to reduce swelling inthe breathing passage. It can also be used to reduce bleeding from the gums.Moreover, with the amalgamation with other herbs, the benzoin essential oil isalso 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 futureowing to its calm and soothing effect that substantiates its use inaromatherapy. However, despite of the manifold positive effects of benzoin oilon our health, it still requires a substantial push in the nutraceuticalsmarket.
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REGIONAL OUTLOOK:-
The SouthAsian countries such as India, Indonesia, Singapore, Malaysia, Sri Lanka andothers lead as the top exporters as well as manufacturers of the benzoinessential oil market followed by North America and Europe. Most imports havebeen 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 thegrowing economies of India and China. Furthermore, great potential in thebenzoin essential oil market can be attributed to its diverse uses.
MAJOR KEY PLAYERS: -
The keyplayers who are majorly driving the global benzoin essential oil market forwardare 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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