In 2023, Europe held the largest share of the wintergreen oil market. The wintergreen oil market in Europe is witnessing notable growth owing to rising demand from industries such as pharmaceutical, food & beverages, aromatherapy, and personal care and cosmetics. As consumers become increasingly cautious about the potential side effects associated with synthetic chemicals, there is a notable shift toward natural remedies and holistic wellness practices. Wintergreen oil, known for its potent analgesic and anti-inflammatory properties, fits well into this trend. Its efficacy in providing relief from muscle pain, joint discomfort, and respiratory issues makes it a valuable addition to personal care and therapeutic products. In addition to health and wellness applications, wintergreen oil is gaining popularity in aromatherapy, which has gained substantial popularity in Europe.
The wellness industry encourages individuals to exercise self-care as it encompasses mental, physical, spiritual, and emotional well-being, which are perceived as vital 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.
Consumer Preference for Personal Care Products and Cosmetics with Natural Ingredients to Create Opportunities for 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.
Wintergreen Oil Market: Segmental Overview
Based on type, the wintergreen oil market is divided into organic and conventional. The conventional segment held a larger share of the market in 2023. Conventional wintergreen oil is extracted using raw materials obtained from plants that are grown with the use of chemical pesticides, synthetic growth hormones, and petroleum-based fertilizers. Conventional wintergreen oil is readily available in the market as compared to organic wintergreen oil, as there are many manufacturers in the market providing conventional varieties. Conventional wintergreen oil is cheaper than organic ones; however, using chemicals and fertilizers in conventional farming primarily affects the end product’s health and nutrient levels. Further, the growing preference for organic variants in applications such as food, personal care, and cosmetics may lower the pace of the market for conventional wintergreen oil during the forecast period.
The wintergreen oil market, based on end use, is segmented into pharmaceuticals, food and beverages, personal care and cosmetics, aromatherapy, and others. Aromatherapy is one of the significant applications of wintergreen oil, as it is renowned for its ability to penetrate skin tissues and relieve muscle discomfort. Incorporating wintergreen oil in massage oils helps soothe sore muscles and joints. This property makes it a popular choice among athletes and individuals troubled with muscle pain. In addition, essential wintergreen oil emits a sweet, minty, and warming woody aroma, which helps deodorize indoor environments and elevates moods by reducing mental pressure and feelings of stress. Its aroma also improves the concentration of individuals, aiding a greater sense of emotional balance. Inhaling wintergreen oil helps to increase concentration and wakefulness, giving the brain a boost. Thus, the surging popularity of aromatherapy as an alternative to medicinal therapy is expected to have a positive impact on the wintergreen oil market growth.
The wintergreen oil market, based on distribution channel, is segmented into wholesalers, supermarkets and hypermarkets, pharmacies and drugstores, and online retail. The wholesalers segment held a larger share of the market in 2023. Wholesalers are the bulk buyers in the supply chain. A wholesaler is a person or a business that purchases goods in bulk from a manufacturer and sells them in smaller units to other businesses for further processing. Wholesalers of wintergreen oil buy vast quantities of materials from suppliers and producers. These enormous quantities of material are stored in warehouses and then resold in smaller quantities to the food and beverages, pharmaceuticals, and personal care and cosmetics products manufacturers. These manufacturers use wintergreen oil to make different products, such as skin care products, toothpaste, mouthwash, massage or muscle relief creams, ointments, candies, and chocolates.
Wintergreen Oil Market: Competitive Landscape and Key Developments
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 focus on providing high-quality products to fulfill customer demand. They are also adopting various strategies such as new product launches, capacity expansions, partnerships, and collaborations to maintain a competitive edge in the market.