The Global Frankincense Resin Market was valued at USD 342.7 Million in 2023 and is projected to reach USD 512.4 Million by 2030, growing at a Compound Annual Growth Rate (CAGR) of 5.9% during the forecast period (2024–2030). This expansion is primarily driven by increasing applications in aromatherapy, natural medicine, and premium skincare formulations across global markets.

As scientific validation of frankincense’s therapeutic benefits grows, manufacturers and suppliers are innovating across the value chain. In this analysis, we examine the Top 10 Companies in the Frankincense Resin Industry—market leaders who are setting quality benchmarks and expanding applications of this ancient botanical resource.

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🔟 1. Alfarid

Headquarters: Salalah, Oman
Key Offering: Boswellia Sacra Resin (Hojari Grade)

Alfarid dominates the premium Omani frankincense segment, specializing in Grade A Hojari resin sourced from Dhofar region trees aged 100+ years. The company maintains vertically integrated operations from sustainable tapping to ISO-certified processing.

Quality Certifications:

• Organic Certification (EU & USDA)
• ISO 22000 Food Safety Management
• Traditional harvesting rights from Omani government

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9️⃣ 2. Babulal Sarabhai & Co

Headquarters: Mumbai, India
Key Offering: Ayurvedic-Grade Boswellia Serrata

As India’s largest processor of Indian frankincense, Babulal Sarabhai supplies 60+ Ayurvedic brands and pharmaceutical companies globally. Their patented cold extraction process preserves medicinal boswellic acids.

Quality Certifications:

• GMP and WHO-GMP certified facilities
• USP monograph compliance for extract standardization

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8️⃣ 3. SARF COMMODITIES DMCC

Headquarters: Dubai, UAE
Key Offering: African & Middle Eastern Resin Varieties

SARF operates as a key global distributor, moving 1,200+ metric tons annually through Dubai’s free trade zone. The company’s quality lab categorizes resins using spectral analysis and traditional grading methods.

Quality Certifications:

• Halal certification for Islamic markets
• UN Comtrade verified exporter status

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7️⃣ 4. Krystal Colloids

Headquarters: Nagpur, India
Key Offering: Standardized Boswellia Extracts (65% AKBA)

Specializing in pharmaceutical applications, Krystal Colloids produces clinical-grade frankincense extracts with guaranteed levels of active compounds. Their products are used in 50+ nutraceutical formulations globally.

Quality Certifications:

• US FDA facility registration
• ISO 9001:2015 certified operations

Download FREE Sample Report: Frankincense Resin Market – View in Detailed Research Report

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6️⃣ 5. Kanu Krishna Corporation

Headquarters: Kolkata, India
Key Offering: Cosmetic-Grade Oleoresins

KKC develops specialty frankincense derivatives for L’Oréal, Estée Lauder and other cosmetic giants. Their solvent-free extraction technology preserves delicate aromatic compounds.

Quality Certifications:

• Ecocert & COSMOS Organic
• Leaping Bunny cruelty-free certification

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5️⃣ 6. Outlook International

Headquarters: London, UK
Key Offering: Ethically Sourced Somali Frankincense

Pioneering Fair Trade frankincense, Outlook International works directly with 200+ Somali harvesters. Their blockchain platform provides full supply chain transparency from tree to consumer.

Quality Certifications:

• FairWild certification
• B Corporation pending status

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4️⃣ 7. Essential Oils Company

Headquarters: Portland, Oregon, USA
Key Offering: Therapeutic-Grade Frankincense Oil

This US market leader produces steam-distilled essential oils meeting strict AFNOR and ISO standards. Their products are widely used in clinical aromatherapy applications.

Quality Certifications:

• ISO 9001:2015
• USDA Organic

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3️⃣ 8. Somaliland Trade Company

Headquarters: Hargeisa, Somaliland
Key Offering: Raw Boswellia Carterii Resin

Controlling 30% of Somalia’s frankincense exports, STC operates 14 collection centers with mechanical sorting technology. The company supplies major European essential oil distillers.

Quality Certifications:

• ISO 9001 accredited
• HACCP certification for food-grade resin

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2️⃣ 9. Dhofar Trading

Headquarters: Salalah, Oman
Key Offering: Royal Hojari Frankincense

Specializing in ultra-premium grades, Dhofar Trading supplies royal families and luxury perfumers. Their hand-sorted resin commands prices up to $500/kg in niche markets.

Quality Certifications:

• Omani government quality seal
• GCC Standardization Organization certification

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1️⃣ 10. Apollo Essential Oils

Headquarters: Mysore, India
Key Offering: Clinical Frankincense Preparations

Apollo’s patented encapsulation technology enhances bioavailability of boswellic acids. Their NSF-certified facility produces pharmaceutical intermediates for global supplement brands.

Quality Certifications:

• US FDA cGMP facility
• NSF International certification

Get Full Report Here: Frankincense Resin Market – View in Detailed Research Report

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🌿 Industry Outlook: Innovation in Ancient Remedies

The frankincense market is transitioning from traditional uses to evidence-based applications. Clinical research into its anti-inflammatory and neuroprotective properties is driving new product development across multiple sectors.

📈 Key Market Trends:

• Pharmaceutical partnerships for osteoarthritis formulations
• Emergence of functional foods with frankincense extracts
• Blockchain adoption for sustainable sourcing verification
• Premiumization in natural perfumery applications

Get Full Report Here: Frankincense Resin Market – View in Detailed Research Report

These industry leaders are transforming an ancient commodity into a modern wellness ingredient through scientific innovation and sustainable practices.