Global Natural Camphor Market By Type (Pharmaceutical Grade, Industrial Grade), By Application (Drugs, Chemical Production), By Geographic Scope And Forecast
Natural Camphor Market size was valued at USD 138.50 Billion in 2023 and is projected to reach USD 272.28 Billion by 2030, growing at a CAGR of 7.80% during the forecasted period 2024 to 2030.
The production, distribution, and consumption of natural camphor—a crystalline substance predominantly produced from the wood of the camphor tree (Cinnamomum camphora) or synthesized from turpentine oil—are the focal points of the world economy. This market is known as the "natural camphor market." Producers, suppliers, distributors, and end users are among the players that make up this market segment. They all operate within a framework that is shaped by things like the dynamics of the supply chain, laws and regulations, new technology, and customer preferences.
The market for natural camphor is being shaped in part by its broad applications in a variety of industries, including chemical synthesis, food and beverage, pharmaceutical, and agricultural. Camphor is well known in the pharmaceutical industry for its therapeutic qualities, and it's frequently used in topical analgesic and respiratory relief products. Its value in the culinary industry is demonstrated by the fact that it is used as a flavoring agent in foods and drinks. Furthermore, camphor is used as a pesticide in agriculture and as a scent and medicinal ingredient in cosmetics.
Growing consumer awareness of the advantages of natural compounds is fueling the market's growth trajectory and pushing demand for natural camphor over its synthetic equivalent. In addition, the need for natural camphor-based products is increased by the growing pharmaceutical and personal care sectors as well as the increased incidence of respiratory illnesses.
