Labdanum market expected to rise with single digit growth rate of 5.6% through 2027, finds Fact.MR

Posted on 2021-04-29 by Future Market Insights, Inc in Food & Beverage // 0 Comments

The consumer goods industry has grown rapidly in recent years. The increasing standard of living has led to an increase in the purchase of luxury products. In order to manufacture these products, a massive amount of raw materials are required. One such product that is widely used as a raw material is labdanum.

Labdanum is a brown resin that is derived from two shrubs namely Cistus ladanifer and Cistus creticus. It is sticky in nature and was earlier used for manufacturing herbal medicines. Today, the labdanum is widely used to manufacture perfume and is one of the important raw material in the perfume industry.

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The leaves and twigs of the labdanum are boiled in order to extract raw resin, and then the solvent is extracted to create an absolute which is a dark amber green that becomes thick at room temperature.

The fragrance produced by labdanum is very rich in odor and tenacious. This fragrance is widely preferred in the perfume industry. The labdanum is also known as Ambreine.

Vendors in the labdanum market are focusing on manufacturing various fragrances perfumes to provide consumers with rich amber experience. They are also strategizing to open more manufacturing plants to enter into the untapped market and also increase their products reach. Increasing adoption of labdanum across varied applications is one of the key trends in the labdanum market.

Labdanum Market: Drivers and Restraints

The fragrance of labdanum has a strong resemblance to ambergris, a fragrance of an endangered species known as the sperm whale. Since, labdanum produces amber, sweet and animal-like fragrance. Therefore it has a high demand as ingredients in the perfume industry.

These factors are driving the growth of labdanum in the market. The labdanum is also used as a medicinal herb and is used to cure a wide range of diseases such as bronchitis, diarrhea, and others.

It is also used as a dry agent to cure any skin disease. Sometimes, the labdanum also finds application as a flavoring agent in food and beverages and to kill pests and insects. Such diversified applications of labdanum are driving its growth in the market.

The consumption of labdanum as medical products for pregnant women and women who breastfeed is not yet approved by regulatory. The cost of perfumes manufactured by labdanum is very high since it generates a fragrance that is not easily available in general and can otherwise be extracted by endangered animals. Thus, a high cost of products and medical effects are factors restraining the growth of labdanum market.

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Labdanum Market: Segmentation

The Labdanum market can be categorized on the basis of industry and sales channel. On the basis of industry in the Labdanum market, the demand for Labdanum is expected to rise in the medical industry to develop medicines that can cure various problems including menstrual problems, rheumatism, and others.

On the basis of function, the online retailers’ segment is expected to have high growth in the market due to increase traction of consumers towards e-commerce purchase.

Labdanum market can be segmented on the basis of industry:

Medical
Cosmetics
Others

Labdanum market can be segmented on the basis of sales channel:

Online Retailers
Departmental Stores
Drug & Pharmacies Stores
Others

Labdanum Market: Competitive Landscape

Examples of some of the key players operating in the Labdanum market are Aesop, CUARZO THE CIRCLE, Bayer AG, Siemens Healthcare, Abbott Laboratories, Nihon Kohden, Orphee Medical, BMV FRAGRANCES PRIVATE LIMITED, The Good Scents Company, Biolandes and Payan Bertrand.

Regional Overview

The Labdanum market is segmented across North America, Latin America, Western Europe, Eastern Europe, China, SEA and others of APAC, Japan and Middle East & Africa. Europe is expected to be a large market for Labdanum as a majority of the Labdanum vendors such as Bayer AG, Abbott Laboratories and Payan Bertrand are based in the region. Increasing spending on luxury products such as perfumes in the North America region is driving the adoption of Labdanum.

The growing popularity of Labdanum in developing regions, such as APEJ, Latin America and parts of Africa, is characterized by the increasing applications of the product to manufacture medicines to cure diseases.

Rising disposable income among people in the countries mentioned above is likely to increase the scope of penetration of Labdanum in these regions in the near future.

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