Camphor Market Diverse Applications, Dynamics, Segments, Demand, Participants Report 2030
While the world is making a shift away from the use of chemicals in various products that are used on a daily basis, camphor is emerging as a popular chemical ingredient in most of the natural end products. Being a translucent terpene ketone, white/grey in colour, and crystalline in form, camphor does not only have a pleasant odour, but it also offers versatile physical properties - which usually depend on its species, origin, and other specific growing conditions.
Though camphor is commonly produced by the distillation of
bark and wood of the camphor tree, it can also be manufactured synthetically;
carrying out the synthesis of turpentine oil which is produced from rosin,
kinleith, and pine wood among multiple other ingredients.
Camphor is most commonly used in various healthcare products
mainly due to its medicinal properties, and these products can be used as a
treatment for cough, congestion, and other skin-related infections. Camphor is
also used as an insecticide in food storages - a most commonly used traditional
insecticide, especially in some countries across South Asia. Furthermore,
camphor oil is also one of the popular remedies for improving digestion,
metabolism, and excretion processes. Being an FDA-approved chemical, camphor is
gaining immense demand in most of the medicinal, healthcare products, which is
predominantly driving growth of the camphor market.
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Pharmaceuticals Industry will Create Lucrative
Opportunities for Camphor Market Players
The global market for camphor is highly characterised with
its association with a wide range of end-use industries. However, the
pharmaceuticals industry is expected to account for a significant share in the
increasing global demand for camphor. Especially in cough-related remedial
products, such as vapour rub and ointments, camphor has witnessed complete
acceptance from the healthcare and pharmaceuticals industry.
Furthermore, the pharmaceuticals industry is also accepting
camphor oil as an integral ingredient in natural skincare products, as camphor
oil can be positively used in the treatment of various skin-related infections.
Its use in muscle relaxant ointments is also opening a new window of
opportunities for stakeholders in the camphor market. In the coming years,
leading players are likely to focus on expanding the target audience in a vast
range of industries, and capitalize on the growing acceptance for camphor in
most of the pharmaceutical and healthcare industries across the world.
Potential Impact of the COVID-19 Pandemic on the Supply
of Pharma-grade Camphor
Though the global outbreak of the novel coronavirus has
instigated a global lockdown, camphor market may continue to witness high
demand in the coming years. Growing awareness about the medical properties of
camphor that treat cough-related infections is triggering the use of camphor
oil and tablets as a traditional and natural remedy to prevent the coronavirus
infection. However, as most of the industrial activities have slowed down, this
may be a negative impact on the production of pharma-grade camphor, and this
may influence the growth dynamics of the global camphor market in the coming
years.
Camphor Market: Region-wise Analysis
The global market for camphor is divided into seven
geographical segments - North America, Latin America, Europe, East Asia, South
Asia, Oceania, and Middle East & Africa. The Asia Pacific region is
expected to account for a significant revenue share in the global camphor
market, mainly accounting for the use of camphor in a variety of traditional
medicinal products. As camphor is among the most commonly used household goods,
leading manufacturers are aiming to maintain a healthy demand-supply balance in
the Asia Pacific region, in the coming years.
North America is also emerging as a profitable regional
market for camphor manufacturers, distributors, and other stakeholders. A
mounting number of end-use industries are moving to replacing chemicals with
camphor to avail its natural, medicinal properties, in order to sync with the
consumer demand for ‘all natural’ products. As a result, leading players in the
global camphor market will witness a burgeoning demand from the end-use
industries situated in the North American region, in the foreseeable future.
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Camphor Market: Competitive Landscape
- Beijing
Herbal Health Biotech LLC,
- Taiwan
Tekho Camphor Co., Ltd
- Indukern
Internacional
- Saptagir
Camphor Ltd.
- Camphor
and Allied Products ltd.
- Hunan
Nutramax Inc.
The global camphor market witnesses intense competition,
while leading players are aiming to gain a competitive edge by introducing a
price differentiation. This makes it a price sensitive market, leaving very
little or no scope for market players to introduce product differentiation.
Furthermore, being highly fragmented in nature, the global
market for camphor market is likely to witness a significant stronghold of
regional manufacturers, as they leverage on the benefits of low capital
investments. Leading players are likely to introduce their own end products
using camphor to stay ahead of the curve, and this will emerge as a prominent
strategy of growth among a majority of market players in the coming years.
Palm Organix Company (Palm Organix™) - a New York-based
leading player in the vitamins & supplements industry - announced in
September 2019, that it will be introducing its new line of skincare products -
‘Zero THC CBD Lotion w/ Camphor’. The line includes products with
Phytocannabinoid-Rich Hemp Oil with Camphor and other essential oils, such as
camphor oil, to create a light fresh CBD lotion.
In June 2019, Mother Sparsh - an Indian manufacturer of
plant-based, natural and eco-friendly baby care products - announced that it
has launched a natural insect repellent product which is made of camphor oil
and other pure natural ingredients such as eucalyptus oil, lemongrass oil, and
citronella oil. These incidences of skincare products being launched by market
players further amplifies the profitability of camphor oil in various end-use
industries.
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Region-wise Analysis
- North
America (U.S., Canada)
- Latin
America (Mexico, Brazil)
- Europe
(Germany, U.K., France, Italy, Spain, Poland, Russia)
- East
Asia (China, Japan, South Korea)
- South
Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
- Oceania
(Australia, New Zealand)
- Middle
East & Africa (GCC Countries, Turkey, Northern Africa, South
Africa)
Report Highlights
The report is a compilation of first-hand information,
qualitative and quantitative assessment by industry analysts, inputs from
industry experts and industry participants across the value chain. The report
provides in-depth analysis of parent market trends, macro-economic indicators
and governing factors along with market attractiveness as per segments. The
report also maps the qualitative impact of various market factors on market
segments and geographies.
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