Global [FURL=https://www.industryarc.com/Report/15672/camphor-market.html]Camphor Market[/FURL] size is forecast to reach around $500 million by 2025, after growing at a CAGR of 5.5% during 2020-2025. The growing uses of camphor across various applications owing to its antibacterial, antifungal, and anti-inflammatory properties. Additionally, rising disposable income and growing use of camphor tablets in religious rituals in Asia-Pacific region further drives the market growth. Moreover, surging uses of camphor is in the treatment of cough, congestion, skin infections, and for easing pain in joints and swelling among others further contribute to the growth of this market size during the forecast period.Key Takeaways
In North America region, the US is a major market for the Camphor owing to growing cosmetic and pharmaceutical sector.
The growing health, skin, and hair care awareness among the consumers is driving the cosmetic and personal care industry that in turn contribute to the growth of this market.
The synthetic camphor is also playing an important role in the global market owing to growing demand from developed countries.
The outbreak of COVID-19 is also considered as the major restraining factor to the market growth over the forecast period. COVID-19 pandemic has badly impacted the global supply chain and world economy. Besides, Industries and temples are being shuttered all around the globe due to lockdown. Hence, demand is declining for Camphor from various industry verticals acts as a restraining factor to market growth.
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Camphor Market Segment Analysis - By Geography
Among the regions, the APAC holds the largest share of more than 40% in the global Camphor market followed by North America and Europe during the forecast period. The growing consumption of camphor as a solvent from personal care and healthcare industry across China and India is fuelling the growth of this market in the APAC region. Whereas, In APAC region, Camphor tree is native to China, India, Mongolia, Japan, and Taiwan. Furthermore, the growing consumer and e-commerce sectors is also contributing for the growth of Camphor market share across the APAC region.
Camphor Market Drivers
Surging demand for Camphor across various end-use industries
Growing health awareness among consumers
Camphor Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Camphor market report. In 2019, the market of Camphor top 10 companies accounting for xx% of the share. Major players in the Camphor industry outlook are Apt Exim, Beijing Herbal Health Biotech LLC, Benefont, Camphor & Allied Products Ltd., adran Galenski Laboratorij, Hunan Nutramax Inc., Saptagir Camphor Ltd., Taiwan Tekho Camphor Co., Ltd, and Mother Sparsh, Palm Organix Company, among others.
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