Global Wintergreen Oil Market To Be Driven By The Increasing Demand For Essential Oils In The Forecast Period Of 2023-2028

SHERIDAN, WYOMING, UNITED STATES, February 23, 2023 /EINPresswire.com/ -- The new report by Expert Market Research titled, ‘Global Wintergreen Oil Market Price, Size, Share, Report and Forecast 2023-2028’, 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.

The key highlights of the report include:

Market Overview (2018-2028)

Forecast CAGR (2023-2028): 8.8% (Global Essential Oil Market)

The growth of the market is driven by the growing demand for essential oils. The increasing application of wintergreen oil in the pharmaceutical industry owing to the ability of the product to treat different conditions, such as bacterial infection, cold, headache, and tooth decay, among others, is driving the market growth.

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Wintergreen oil is also utilised in the food and beverage industry as flavouring agents in items, such as candies. The increasing demand for the product from FMCGs, such as toothpastes and mouthwashes, is likely to aid the market growth.

In terms of region, the Asia Pacific region accounts for a significant share of the market owing to the increasing footfall of consumers in supermarket and convenience stores owing to the propelling demand for FMCGs.

Wintergreen Oil Industry Definition and Major Segments

Wintergreen oil, locally referred to as Gaultheria Procumbens and Gaultheria Fragrantissima, is defined as a type of oil which is traditionally obtained from the leaves of wintergreen plant. The procurement process of the oil involves the fermentation of stem, and leaves, among others. The oil comes with numerous medicinal benefits.

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On the basis of type, the market can be segmented into:

Organic
Conventional

Based on application, the market has been segmented into:

Aromatherapy
Personal Care
Pharmaceutical
Food and Beverage
Others

The regional markets for wintergreen oil include:

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Wintergreen Oil Market Trends

The key trends in the wintergreen oil market include the growing expansion of the e-commerce industry, which is boosting the sales of the downstream products of wintergreen oil, such as toothpaste, personal care products, and clean-labelled food products, among others.

Meanwhile, the growing research and development activities in the pharmaceutical industry aimed towards developing minimally invasive treatment for headaches and cold, are likely to be the crucial trends in the market. The increasing adoption of aromatherapy product from the household, owing to the increasing awareness about the product and increasing disposable income, is further bolstering the market growth.

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.
Rakesh Sandal Industries
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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About Us:

Expert Market Research (EMR) is leading market research company with clients across the globe. Through comprehensive data collection and skillful analysis and interpretation of data, the company offers its clients extensive, latest, and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium scale enterprises.

EMR customises syndicated reports according to clients’ requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.

Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective and intelligent business strategies and ensure their leadership in the market.

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Expert Market Research
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