At 5.0% CAGR, North America Wintergreen Oil Market is Projected to be Worth US$ 25.67 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the North America wintergreen oil market was valued at US$ 17.43 million in 2023 and is expected to reach US$ 25.67 million by 2031, registering a CAGR of 5.0% from 2023 to 2031. Inclination toward organic products and consumer preference for personal care products and cosmetics with natural ingredients are among the critical factors attributed to drive the North America wintergreen oil market growth.

Health awareness trends, including clean-label and organic products, have gained significant traction in recent years. The increasing incidences of diabetes, obesity, hypertension, heart diseases, and skin disorders are driving consumer preference toward certified organic products. Organic products are perceived healthier than conventional ones as they are produced using raw materials grown by following well-regulated farming practices that avoid using pesticides and chemical fertilizers, genetically modified organisms (GMOs), antibiotics, and external growth hormone applications. The organic trend is not confined to food and beverages. The demand for organic haircare and skincare products such as shampoos, conditioners, and moisturizers is also on the rise. As a result, the use of organic wintergreen oil is emerging as a significant trend in the food & beverages, cosmetics, personal care products, and home care products industries. Wintergreen oil manufacturers are focusing on acquiring organic certifications for their products to meet evolving consumer demands and gain a competitive edge in the market.

The preference for organic ingredients is not only limited to industrial applications, but the consumers using essential oils such as wintergreen oil for aromatherapy also prefer products with organic claim. To cater to the increasing demand Florihana Distillerie, Nature's Note Organics, NHR Organic Oils are key players offering organic wintergreen oil direct to consumers. Similarly, LEBERMUTH is one of the major companies that provide organic wintergreen oil for food and beverage application. Thus, inclination towards organic products is expected to create new trend in the North America wintergreen oil market.

On the contrary, availability of alternatives hampers the growth of North America wintergreen oil market.

Based on type, the North America wintergreen oil market is bifurcated into organic and conventional. The conventional segment held 80.9% market share in 2023, amassing US$ 14,107.03 thousand. It is projected to garner US$ 20,577.07 thousand by 2031 to register 4.8% CAGR during 2023-2031.

In terms of end use, the North America wintergreen oil market is segmented into pharmaceuticals, food and beverages, personal care and cosmetics, aromatherapy, and others. The aromatherapy segment held 50.7% share of North America wintergreen oil market in 2023, amassing US$ 8,844.68 thousand. It is anticipated to garner US$ 13,115.87 thousand by 2031 to expand at 5.0% CAGR during 2023-2031.

By distribution channel, the North America wintergreen oil market is divided into wholesalers, supermarkets and hypermarkets, pharmacies and drugstores, and online retail. The wholesalers segment held 72.4% share of North America wintergreen oil market in 2023, amassing US$ 12,614.14 thousand. It is projected to garner US$ 18,319.79 thousand by 2031 to expand at 4.8% CAGR from 2023 to 2031.

Based on country, the North America wintergreen oil market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 48.3% share of North America wintergreen oil market in 2023. It was assessed at US$ 8,409.36 thousand in 2023 and is likely to hit US$ 12,579.09 thousand by 2031, registering a CAGR of 5.2% during 2023-2031.

Key players operating in the North America wintergreen oil market are NOW Health Group Inc, Edens Garden Essentials Corp, doTERRA International LLC, Silky Scents LLC, The Lebermuth Co, The Good Scents Co, Nature's Note Organics LLC, Young Living Essential Oils LC, and Plant Therapy LLC, among others.

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