At 5.4% CAGR, Europe Wintergreen Oil Market is Projected to be Worth US$ 29.49 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Europe wintergreen oil market was valued at US$ 19.37 million in 2023 and is expected to reach US$ 29.49 million by 2031, registering a CAGR of 5.4% 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 Europe wintergreen oil market growth.

With increasing disposable incomes, consumers are willing to spend more on skincare products that make their skin appear healthy and radiant. People also spend extensively on personal care products as they become conscious about their appearance in social environments. A subsequent surge in the amounts spent on beauty products benefits the personal care and cosmetic industries across the world. Further, the rising influence of celebrities and social media on people’s lifestyles, coupled with the increasing reach of the Internet, drives this industry.

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 as 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.

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

Based on type, the Europe wintergreen oil market is bifurcated into organic and conventional. The conventional segment held 83.4% market share in 2023, amassing US$ 16,163.09 Thousand. It is projected to garner US$ 24,384.06 Thousand by 2031 to register 5.3% CAGR during 2023–2031.

In terms of end use, the Europe wintergreen oil market is segmented into pharmaceuticals, food and beverages, personal care and cosmetics, aromatherapy, and others. The aromatherapy segment held 50.5% share of Europe wintergreen oil market in 2023, amassing US$ 9,777.13 Thousand. It is anticipated to garner US$ 15,062.33 Thousand by 2031 to expand at 5.6% CAGR during 2023–2031.

By distribution channel, the Europe wintergreen oil market is divided into wholesalers, supermarkets and hypermarkets, pharmacies and drugstores, and online retail. The wholesalers segment held 69.2% share of Europe wintergreen oil market in 2023, amassing US$ 13,407.84 Thousand. It is projected to garner US$ 20,172.85 Thousand by 2031 to expand at 5.2% CAGR from 2023 to 2031.

Based on country, the Europe wintergreen oil market is categorized into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Our regional analysis states that Germany captured 30.0% share of Europe wintergreen oil market in 2023. It was assessed at US$ 5,804.23 Thousand in 2023 and is likely to hit US$ 9,279.97 Thousand by 2031, registering a CAGR of 6.0% during 2023–2031.

Key players operating in the Europe wintergreen oil market are NOW Health Group Inc, Edens Garden Essentials Corp, doTERRA International LLC, Florihana Distilleries, Bristol Botanicals Ltd, NHR Organic Oils Ltd, Young Living Essential Oils LC, and Axxence Aromatic GmbH, among others.

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