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Global Wintergreen Oil Market to Grow at a Healthy Rate During 2021-2026, Aided by the Growth of the Essential Oil Industry
According to a new report by EMR titled, ‘Global Wintergreen Oil Market Report and Forecast 2021-2026’, the global market for wintergreen oil is being driven by the essential oil industry growth, which reached a volume of 177.6 thousand MT in 2020. The essential oil industry is expected to grow at a CAGR of 8.8% between 2021 and 2026.
The growing demand for natural fragrances and flavours to ensure that products smell or taste great is boosting the industry growth as wintergreen oil imparts intense sweet-woody, almost fruity odour when added to a product. The major players are enhancing their capabilities and utilising automated dosing and blending systems, following the stringent qualitative regulations. They are further providing certified organic products and offering custom blending solutions to their customers. The growing utilisation of essential oils in the formulation of personal care and cosmetic products is also contributing to the industry growth.
Lebermuth Co., Inc. is one of the leading manufacturers of natural and organic essential oils. The company sources the finest essential oils from over 30 countries and its capabilities include rectification of oils, including wintergreen and lemongrass. The company offers premium products that are capable of solving aroma and supply issues for its customers. Meanwhile, the growing internet penetration and rise in the number of smartphone users have made online shopping a great success. The easy availability of essential oils on e-commerce platforms like Amazon.com, Inc. (NASDAQ: AMZN) and Alibaba Group Holding Limited (NYSE: BABA) is expected to boost the sales of the product in the coming years. Such developments are expected to positively impact the global wintergreen oil industry growth over the forecast period.
Market Breakup by Type, Application, and Regions:
- The major types of wintergreen oil available in the market include organic and conventional types.
- Based on application, the industry has been categorised into aromatherapy, personal care, pharmaceutical, and food and beverage sectors.
- Region-wise, the global wintergreen oil industry can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Key Findings of the Report:
- The global market for wintergreen oil is being driven by the rising concern regarding health among consumers and a growing shift towards natural products.
- The advancing pharmaceuticals industry and the growing R&D activities are further propelling the market growth.
- The rising disposable incomes and increasing per capita expenditure on personal care products is also boosting the product demand.
- The improved availability of the end-use products owing to the expanding distribution channels is significantly contributing to the industry growth.
- Increasing demand for aromatherapy is expected to aid the market growth further.
Key Offerings of the Report:
- The EMR report gives an overview of the global market for wintergreen oil for the periods (2016-2020) and (2021-2026).
- The report also offers historical (2016-2020) and forecast (2021-2026) market information for the types, applications, and regional markets of wintergreen oil.
- The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.
The major players in the global wintergreen oil market are Lebermuth Co., Inc., NOW Health Group, Inc., NHR Organic Oils, Vinayak Ingredients India Pvt Ltd., and Rakesh Sandal Industries, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
About Us:
Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.
EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.
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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
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