Wintergreen Oil Market is expected to reach US$ 90.26 million by 2031

Rising Adoption of Aromatherapy Bolsters Wintergreen Oil Market Growth

According to our latest study on "Wintergreen Oil Market Size and Forecast (2021–2031), Global and Regional Growth Opportunity Analysis – by Type, End Use, and Distribution Channel," the market size is expected to grow from US$ 60.20 million in 2023 to US$ 90.26 million by 2031; the market is estimated to register a CAGR of 5.2% from 2023 to 2031. The report highlights key factors driving the market growth and prominent players along with their developments in the market.

The wellness industry encourages individuals to exercise self-care as it encompasses mental, physical, spiritual, and emotional well-being, which are perceived as crucial aspects of health. Teenagers and young working professionals, in particular, find it difficult to handle stress, which severely influences their overall health. According to the World Health Organization's (WHO) June 2023 report, ~260 million people living in Southeast Asia suffer from mental health disorders. As a result, there has been an increasing emphasis on mental health in recent years. Consumers in developing regions have started adopting aromatherapy to overcome such issues by practicing self-care. Promotion campaigns and direct selling initiatives (via social media) by vendors contribute significantly to the awareness and popularity of aromatherapy across the world. These therapies involve using wintergreen oil and various other essential oils, which trigger profound emotional responses in the brain. Wintergreen oil emits a minty, sweet, and somewhat warming woody aroma that is known to stimulate the mood, making it ideal for boosting the body's function. Its ability to deodorize indoor environments can help elevate mood, relieve mental stress, and boost concentration, thereby inculcating a greater sense of emotional balance in people. Moreover, wintergreen oil is used for muscle pain relief. The busy lifestyle of consumers across the globe is causing muscle-related issues. This is a significant factor driving the demand for wintergreen oil in aromatherapy. Thus, the surging adoption of aromatherapy bolsters the wintergreen oil market.

Wintergreen Oil Market

With evolving preferences resulting in the inclination toward natural and chemical-free products, consumers these days are paying more attention to product labels. Natural ingredients are deemed to be safer and better for skincare routines than their conventional counterparts. Wintergreen oil is considered a natural ingredient in cosmetic and personal care products. Thus, consumer demand and international regulations have prompted various businesses offering these products to procure active ingredients from natural sources to produce safe and sustainable products. Wintergreen oil is frequently incorporated into moisturizer and haircare product compositions as it is claimed to improve complexion and minimize the appearance of irritated skin disorders caused by dandruff, acne, etc. It is also used in skin care ointments and balms, owing to its potential to tighten and lift the skin for a firmer, more youthful appearance. In hair care products, its astringent effect strengthens the hair strands to prevent hair loss.

The wintergreen oil market analysis has been performed by considering the following segments: type, end use, and distribution channel. Based on type, the market is bifurcated into organic and conventional. The conventional segment is anticipated to hold a significant wintergreen oil market share by 2031.

The wintergreen oil market report emphasizes the key factors driving the market. Wintergreen oil is often used to address hypertension and obesity, as its appetite-suppressing property is known to help manage cravings. Further, its application on body surfaces improves blood circulation, promotes the body's detoxification, enhances metabolic function and digestion, calms inflammation, and alleviates pain. It also soothes the symptoms of colds, psoriasis, infections, and flu. Wintergreen oil-based products are employed to relieve chronic nerve pain, headaches, premenstrual syndrome (PMS) symptoms, and arthritis because the oil naturally contains aspirin-equivalent substances as active constituents. Wintergreen oil is also used in massage sessions, as it revitalizes exhausted and tender muscles, helps decrease spasms, promotes cell breathing, and soothes headaches and discomfort associated with the lower back, nerves, joints, and ovaries. Thus, the wide range of functional properties of wintergreen oil boosts its demand for various applications, driving the wintergreen oil market growth.

In terms of revenue, Europe dominated the wintergreen oil market share in 2023. Germany is a major market for wintergreen oil in the region. As per the European Federation of Pharmaceutical Industries and Associations, Germany is Europe's third largest pharmaceutical producer after Switzerland and Italy. The pharmaceutical production in the country was valued at US$ 36.2 billion in 2020. Wintergreen oil is widely used in the production of paint relief products and muscle rubs. According to the Federation of German Food and Drink Industries (BVE), the food & beverages industry generated revenue of US$ 20.7 billion in 2022, which is 17.9% higher than in 2021. With the increasing operations of the industry, there is a growing demand for natural extracts, creating a lucrative opportunity for wintergreen oil in the country.

The wintergreen oil market trends include an inclination toward organic products. The preference for organic ingredients is not only limited to industrial applications, but the consumers using essential oils such as wintergreen oil for aromatherapy also prefer products with organic claims. Florihana Distillerie, Nature's Note Organics, and NHR Organic Oils are key players offering organic wintergreen oil direct to consumers. Similarly, LEBERMUTH is one of the major companies that provide organic wintergreen oil for food and beverage applications. Thus, the inclination toward organic products is expected to lead to a new trend in the global wintergreen oil market.

The wintergreen oil market forecast can help stakeholders plan their growth strategies. NOW Health Group Inc, Edens Garden Essentials Corp, doTERRA International LLC, Florihana Distilleries, Silky Scents LLC, Bristol Botanicals Ltd, The Lebermuth Co, The Good Scents Co, Nature's Note Organics LLC, NHR Organic Oils Ltd, Young Living Essential Oils LC, Axxence Aromatic GmbH, Naturalis, Plant Therapy LLC, and Last Forest Enterprises Pvt Ltd are among the prominent players profiled in the wintergreen oil market report. These market players are focusing on providing high-quality products to fulfill customer demand. They are also adopting strategies such as new product launches, capacity expansions, partnerships, and collaborations to stay competitive in the market.

Wintergreen Oil Market Breakdown – by Region

• The wintergreen oil market is segmented on the basis of type, end use, distribution channel and geography. Based on type, the market is segmented into organic and conventional. Based on end use, the market is segmented into pharmaceuticals, food and beverages, personal care and cosmetics, aromatherapy, and others. By distribution channel, the market is segmented into wholesalers, supermarkets and hypermarkets, pharmacies and drugstores, and online retail. By geography, the wintergreen oil market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North American market is further segmented into the US, Canada, and Mexico. The market in Europe is segmented into Germany, France, the UK, Italy, Spain, and the Rest of Europe. The wintergreen oil market in Asia Pacific is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the Middle East & Africa is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The market in South & Central America is further segmented into Brazil, Argentina, and the Rest of South & Central America.

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