The new report by Expert Market Research titled, ‘Global Wintergreen Oil Market Size, Share, Price, Trends, Growth, Report and Forecast 2020-2025’, gives an in-depth analysis of the global wintergreen oil market, assessing the market based on its segments like types, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2015-2025), along with business strategies and detailed market segmentation, please click on the request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2015-2025)
• Historical Market Size (2019): 177.6 thousand metric tons (Essential Oil)
• Forecast CAGR (2020-2025): 8.8% (Essential Oil)
• Forecast Market Size (2025): 294.5 thousand metric tons (Essential Oil)
The global wintergreen oil market is being driven by the rising health consciousness among the consumers. Wintergreen oil has a wide range of applications owing to its properties, such as anti-inflammatory, soothing, and pain-relieving. The growing R&D activities and the technological advancements in the pharmaceutical industry are expected to fuel the market growth of the product. Improved availability and reachability of the product through various e-commerce platforms is further boosting the product demand. The adoption of wintergreen oil for aromatherapies is aiding the market growth. The rising levels of disposable incomes and purchasing power of the consumers are aiding the market. These factors are expected to enhance the global wintergreen oil market during the forecast period of 2020-2025.
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Industry Definition and Major Segment
Wintergreen oil is an essential oil derived from the leaves and stem of wintergreen plants by fermentation. The fermentation is followed by distillation to obtain a purer product. The final product entirely comprises of methyl salicylate, an important ingredient of the oil.
Based on type, the market is segmented into:
By application, the market is categorized into:
• Personal Care
• Food and Beverage
The major regional markets for the wintergreen oil are:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Wintergreen oil has a sweet-woody, and fruit-like odour. The growing usage of natural substances for the essence and flavouring of products is aiding the wintergreen oil market. The key players in the industry are emphasising on the certification of organic products. They are increasing their capacities and are shifting towards automated dosing and blending systems to abide by stringent quality regulations. Moreover, manufacturers are offering a wide range of custom blends to consumers. The increasing usage of wintergreen oil in cosmetics and personal care products is expected to further fuel the product’s market.
Key Market Players
The major players in the market are Lebermuth Co., Inc., NOW Health Group, Inc., NHR Organic Oils, Vinayak Ingredients India Pvt Ltd., and Rakesh Sandal Industries, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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