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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Wintergreen Oil Market Outlook
The global wintergreen oil market is aided by the growth of the overall market for essential oil. In 2023, the global essential oil market attained a volume of 228.73 thousand metric tons. The essential oil industry is further expected to grow at CAGR of 8.8% between 2024 and 2032 to reach a volume of 488.49 thousand metric tons by 2032.
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Rising Demand for Natural Products to Aid the Wintergreen Oil Market Growth
The demand for wintergreen oil has been aided by the rising demand for natural products. The primary component of wintergreen that is, methyl salicylate, is widely utilised in topical creams, pain relievers, personal care products, and massage blends owing to its soothing properties. As wintergreen and birch are the only plants wherein methyl salicylate occurs naturally, the demand for wintergreen oil in various applications has increased.
North America is expected to be one of the most significant markets for the product. The demand is growing in the region due to the rising consumer inclination towards natural products and higher standards of living.
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Wintergreen Oil: Industry Definition and Segmentation
Wintergreen oil is the oil obtained from the wintergreen plant. It was traditionally derived from the leaves of the plant through the process of distillation. The production process includes fermentation of the natural material (leaves, stems, and others) of the plant, which is distilled to obtain its purer form. Thus, the final product comprises almost entirely of methyl salicylate, which is the active ingredient of the oil.
Based on type, the market is bifurcated into:
- Organic
- Conventional
On the basis of application, the industry can be segmented into:
- Aromatherapy
- Personal Care
- Pharmaceutical
- Food and Beverage
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Favourable Properties of Wintergreen Oil to Aid its Market Growth
The product has witnessed a reasonable growth due to the growing demand for wintergreen oil in different applications. The product is known for its soothing, anti-inflammatory, and pain-relieving properties. The oil is utilised as a flavouring agent in candies, toothpaste, and chewing gum in small amounts. Moreover, it gives a refreshing aroma upon diffusion and can be used as a scent additive. The wintergreen essential oil is considered an excellent soothing agent and offers a warming effect when applied to the skin after dilution. Thus, the growing demand for natural ingredients in the end-use applications and escalating disposable incomes have boosted the sales volumes of the product over the past few years. Owing to the thriving retail sector, the consumers can purchase the products with ease and at their convenience, which also acts as a market driver. However, the lack of awareness regarding wintergreen oil among the general population and the availability of synthetic methyl salicylate might act as a restraint for the market growth.
Key Industry Players in the Global Wintergreen Oil Market
The report gives a detailed analysis of the following key players in the global wintergreen oil market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Lebermuth Co., Inc.
- NOW Health Group, Inc.
- NHR Organic Oils
- Vinayak Ingredients India Pvt Ltd.
- Rakesh Sandal Industries
- Others
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
Wintergreen Oil Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global wintergreen oil market is being supported by the growth of the essential oil market, which attained a volume of 228.73 thousand metric tons in 2023.
The essential oil market is projected to grow at a CAGR of 8.8% between 2024 and 2032, which is aiding the growth of the wintergreen oil industry.
The essential oil market is estimated to reach 488.49 thousand metric tons by 2032, thus, further supporting the wintergreen oil industry growth.
The major drivers of the industry, such as rising disposable incomes, the product’s soothing, anti-inflammatory, and pain relieving properties, rising demand from the personal care industry, and the growing aromatherapy industry, are expected to aid the market growth.
The key trends guiding the growth of the market include the rising demand for natural ingredients in the end-use sectors.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading types of wintergreen oil in the market are organic and conventional.
The major application segments in the industry are aromatherapy, personal care, pharmaceutical, and food and beverage.
The major players in the industry are Lebermuth Co., Inc., NOW Health Group, Inc., NHR Organic Oils, Vinayak Ingredients India Pvt Ltd., Rakesh Sandal Industries, Others
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