The global wintergreen oil market is anticipated to grow at a significant CAGR during the forecast period. Oil of wintergreen is generally extracted from the leaves of Gaultheria procumbens, which is a volatile oil used in the food and beverage industry as flavoring agent, although largely used for its medicinal properties. It is used as a flavoring agent for candies and chewing gum while also broadly used in the treatment of muscular aches and pains. The active ingredient known as methyl salicylate, is also synthesized and sold as oil of wintergreen. Thus, the major factor attributable to the market growth includes the growing incidences of muscular aches and pain arising from various medical conditions such as osteoarthritis. The risk factors for such ailments further rises with the growing aging population. According to the US Census Bureau estimates released in June 2020, the number of the US residents aged 65 or over increased from 35 million in 2000 to an estimated 73 million in 2020, and the median age for the US is also projected to continue to increase. Such projections suggest the promising growth of the global wintergreen oil market.
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Further, the growing cases associated with spinal disorders, muscle injuries and fractures are also supporting the demand for natural therapeutic solutions for pain apart from the regular medication. This is also likely to spur the overall market growth. As per the information provided by the Japanese Orthopaedic Association (JOA), the total number of fractures across Japan is anticipated to reach 320,000 in 2040 from 190,000 in 2012. This, in turn, is expected to drive the demand for wintergreen oil for pain management.
Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
- Segment Covered-
o By Application
o By Origin
- Regions covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape: Now Foods, LLC, and Organic Infusions, Inc., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Wintergreen Oil Market Report by Segment
By Application
- Aromatherapy
- Pharmaceuticals
- Food
- Personal Care Products
By Origin
- Organic Wintergreen Oil
- Conventional Wintergreen Oil
A full report of Wintergreen Oil Market is available at: https://www.omrglobal.com/industry-reports/wintergreen-oil-market
Wintergreen Oil Market– Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
