Gum Benzoin Market: Overview
Gum benzoin is the latex of trees having resinous properties
which belong to the styrax species of 130 shrubs and small plants. These shrubs
and plants was originated in Vietnam, and Laos and have also been identified to
be grown in java, Sumatra and in Malaysia. Gum benzoin are also called as
benzoin, and gum benjamin. These gum benzoin are used against swelling of
throat, and breathing passages, quickly caters relief to inflammation when
taken by mouth.
Furthermore, gum benzoin resins are also used as common
ingredient incense products and perfumery due to its fragrance and adhesive properties.
Gum benzoin acts an antidepressant, disinfectant,
diuretic, vulnery, anti-inflammatory, antiseptic, sedative, carminative,
cordial as well as rheumatic
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Factors catering pace to the Gum Benzoin Market
Significantly, growing food and beverages processed industry
is one the key driving factors stimulating the growth of the global gum benzoin
market over the forecast period, owing to the increasing demand for processed
and blended food products among consumers.
The macroeconomic factors such as rapidly growing gross
value added (GVA) of key countries and increasing import/export among key
countries will lead the global gum benzoin market towards considerable growth
over the forecast period.
Also, the rapid growth in the pharmaceutical industry along
with the growing wine processing industry will increase the demand for gum
benzoin for blending raw materials in the upcoming years.
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Furthermore, with the increasing demand for gum benzoin for
skin care products will take the global gum benzoin market towards rapid growth
in the forecast period. In addition, the increasing demand for incense products
will gain high traction over the forecast period.
The key restraining factors such as high price, and
stringent government regulations & standards for the manufacture of gum
benzoin may hinder the global gum benzoin market over the forecast period. With
the increase in manufacturing activities in developing countries, such as India
and China, will create a high opportunity for gum benzoin across these
countries over the forecast period.
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APEJ: Leader in Gum Benzoin Market
The global gum benzoin market can be segmented into seven
regions: North America, Latin America, Europe, CIS & Russia, Japan, APEJ
(the Asia Pacific excluding Japan) and MEA. Among the aforementioned regions,
APEJ is predicted to account for the highest market share in the global gum
benzoin market due to the growing preferences of aromatherapy among consumers.
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