The global frangipani extract market, valued at US$ 34.85 Mn in 2022, is poised for substantial growth over the next decade. With an estimated CAGR of 4.9%, the market is expected to reach US$ 56.10 Mn by the end of 2032. This growth is driven by increasing consumer demand and significant investments in R&D by key players, aiming to improve the functionality of frangipani flowers.
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Frangipani Extract in Various Applications
Frangipani extract is a versatile component widely used in food products, cosmetics, and personal care items. The extract's therapeutic properties and aromatic profile make it a popular ingredient in perfumes, beauty products, and traditional medicine. Its nourishing aesthetic properties are particularly valued in beauty products, while its invigorating scent finds extensive use in aromatherapy.
Aromatherapy
Aromatherapy, a therapeutic practice involving essential oils, is a significant application area for frangipani extract. The market for aromatherapy is projected to reach around US$ 21.74 Mn by 2032, with a CAGR of 5%. Frangipani extract is known for its ability to treat lifestyle diseases such as stress and exhaustion. Its use in diffusers, nebulizers, burners, inhalers, and carrier oils helps relax the mind, ease stress, and promote sound sleep. The oil form of frangipani extract is particularly effective in curing severe headaches and muscular aches due to its anti-inflammatory properties.
Cosmetics and Personal Care
In the cosmetics and personal care sector, frangipani extract holds around 45% of the market value share as of 2022. The rising popularity of natural products and increased use in various cosmetic formulations are driving market growth. Frangipani extract is incorporated in facial treatments, hair care products, and perfumes. Its anti-inflammatory and purifying properties make it beneficial for skin care, helping to fade pigmentation and make the skin blemish-free. The extract's rich, exotic fragrance is widely used in perfumery, and its moisturizing properties make it a popular ingredient in body lotions and facial creams.
Expanding Applications in the Food & Beverage Industry
The food and beverage industry presents profitable opportunities for frangipani extract market players. Although the use of floral extracts in food and beverages is relatively new, it is gaining traction in luxury cuisine and gourmet restaurants. The flavors industry is increasingly focusing on floral flavors, and frangipani extract's pure, pristine flavor can be used in various beverages, teas, and sweet syrups.
The foodservice industry is continually evolving to meet consumer expectations and follow new trends. The introduction of innovative and creative food and beverage products, such as frangipani martini and frangipani punch, is expected to drive demand for frangipani extract in the future.
Market Strategies and Key Players
Manufacturers of frangipani extract are focusing on enhancing extraction technology and expanding their global presence to meet rising consumer demand. Companies like Mane KANCOR and HDDES are investing in advanced technologies and improving quality standards to provide better products and services. HDDES, for instance, has obtained ISO 22000: 2018 and FSSC 22000 certifications and is expanding its presence in markets like Myanmar, Germany, Japan, Dubai, and the U.S.
Key players in the global frangipani extract market include Mane KANCOR, Veda Oils, INDIA AROMA OILS, AND COMPANY, HDDES, Manohar Botanical Extracts Pvt Ltd., Avi Naturals, A. G. Industries, Oshadhi, Nature’s Flavors, Inc., The Plant Extracts Company Pty Ltd., Pure Oils India, Aromaaz International, Kush Aroma Exports, D.S. Fragrances, and Floral Essential Oil. These companies are leveraging opportunities in various industries, such as cosmetics, personal care, and food & beverages, to drive market growth.
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