Consumer Goods & Retail

Global Mint Essential Oil Market

February 25, 2022
ID: SR/CG-97
Format:Pdf
Pages:220

Global Mint Essential Oil Market, By Product (Cornmint Oil, Peppermint Oil, Spearmint Oil and Dementholized Peppermint Oil), By Application (Medical {Pharmaceutical and Nutraceuticals}, Food & Beverages {Bakery, Confectionery, Dairy, RTE meals, Beverages, Meat, Poultry & Seafood and Snack & Nutritional Bars}, Spa & Relaxation {Aromatherapy, Massage Oil, Personal Care}, Cleaning & Home {Kitchen Cleaners, Floor Cleaners, Bathroom Cleaner, Fabric Cleaner}, Cosmetics and others), By Region (North America, Europe, Asia-Pacific, South America and The Middle East & Africa)-Global Forecast to 2028.

Description

Essential Oil Market size was calculated at USD 8.58 Billion in 2021, and it is estimated to reach USD 18.95 Billion by 2028, growing at a CAGR of 9.34% for the forecast period 2022-2028. Expanding applications in aromatherapy, growing demand for fragrances and flavors in food & beverages and personal care products, and increasing consumer choice for natural products have been pushing the global Mint Essential Oils Market. Raised attention toward preventative healthcare, growing demand for aromatherapy, enhancing the standard of living with an upsurge in income also cause the development of essential oils. The Global Mint Essential Oils Market report delivers a holistic market evaluation.

What is Mint Essential Oil?

The essential oils also termed volatile oils, are acquired from the roots, flowers, stems, leaves, and different plant parts. Mint essential oil is being taken out from stems and flowers of the mint herb using a steam distillation method. They are widely utilized in food & beverages, spa & Relaxation, medical and cleaning & home applications. They circumvent the digestive system quickly and thus are beneficial for people with poor digestion/assimilation. Moreover, it contains high oxygenating and is suitable for infants since they cannot swallow tablets and capsules.

Growth Drivers

Rising preference towards natural and organic formulations

The products with chemicals and other unnatural ingredients used in the cosmetics enterprise often develop troubles like leaving skin feeling dry, red and sore. Hence, the companies are targeting the help of natural choices for most skin products. Natural products are more inclined to the skin and work more effectively without skin reactions. Enterprises are replacing synthetic chemicals with natural components, partly because of customer demand and tolerable raw materials. Mint oils have discovered different modern applications in large fields. For example, peppermint oil treats multiple conditions, including irritable bowel syndrome, nausea, other digestive issues, and the common cold and headaches, a topical application for peace from headache, muscle ache and itching.

Opportunities

New product launches to succeed in the market.

The development of several discount stores, convenience stores, home centers, and accessories shops, among other retail areas, has developed product demand over the topographies. A tremendous number of wholesalers and merchants are propelling their online retail locales in addition to their current over-the-counter utilization. Web-based online usage is relied upon to observe rewarding development during the forecasted period. Vital development of end-use ventures, such as fragrant healing, individual consideration, beauty care products, pharmaceuticals, and food & refreshment, is relied upon to move the item request in the upcoming years. Quick, innovative improvements in oil extraction methods are predicted to fuel the innovation and influence the development.

Restraints

The high expense of the products

The increased cost of the products affects the mint essential oil market. The high cost of essential oils is due to their positively concentrated plant components. For example, peppermint oil derives from the peppermint plant, a hybrid of spearmint and water mint. It is an essential oil that contains over 40 different combinations, including menthol, which provides peppermint its refreshing markers. Hence, these natural products are much more costly than chemical-based products. Also, different incidences of replication or low-quality products are accountable for hindering the market growth.

Pre Covid-19 Impact on Global Mint Essential Oil Market

Before the covid-19 outbreak, the advancing awareness among consumers regarding health issues generated due to the consumption of goods with chemicals and artificial flavors is encouraging them to use various natural products. Mint essential oils are natural and impart aroma and flavor to several products. The move to natural and organic formulations is anticipated to grow globally in the forecast period. The demand for food & beverage products with natural ingredients has been growing in numerous applications such as bakery, confectionery, ready-to-eat meals, beverages, poultry, meat, seafood, snacks, and nutritional bars.

Covid-19 Impact on Global Mint Essential Oil Market

During the Covid-19, stakeholders across the mint essential oil industry have seen shut down a significant impact as all the production work, factories, and other activities were due to the pandemic. Consequently, production was delayed by halts and supply chain trouble globally. The mint essential oil has primary applications in the cosmetic food & beverages industry. With the outbreak of COVID-19, shut down several beauty-product platforms, and new openings are possible to be delayed for at least a year. Consumers expend less on beauty products than expected, negatively influencing the cosmetic packaging industry. The global beauty industry earnings had fallen 20 to 30% in 2020.

Post Covid-19 Impact on Global Mint Essential Oil Market

After the covid-19, the governments still charged different restrictions, such as working with half the workforce and more irregular operating hours delaying the production cycle of the market. The market has been badly hindered by the shortage of raw materials and fewer demands from the industries. As a result, the losses are combined with less demand from associated enterprises. However, the market is anticipated to regain after the pandemic, with sectors seeking increased production rates to regain the incorporated losses.

By Product Segment Analysis

Based on product segment analysis, the market is classified into Cornmint Oil, Peppermint Oil, Spearmint Oil and Dementholized Peppermint Oil. Cornmint oil was the most important and lucratively developing product segment in 2018. Cornmint essential oil is also known by other names, such as Japanese mint or field mint. Approximated to another mint essential oil, menthol removed from corn mint is extremely high. Also, the price of corn mint oil is lower than peppermint. Cornmint oil delivers a menthol-like and minty aroma, comparatively better than peppermint.

By Application Segmental Analysis

Based on application segment, the market is classified into Medical (Pharmaceutical and Nutraceuticals), Food & Beverages (Bakery, Confectionery, Dairy, RTE meals, Beverages, Meat, Poultry & Seafood and Snack & Nutritional Bars), Spa & Relaxation (Aromatherapy, Massage Oil, Personal Care), Cleaning & Home (Kitchen Cleaners, Floor Cleaners, Bathroom Cleaner, Fabric Cleaner), Cosmetics and others. The demand for spa & Relaxation essential mint oil is anticipated to expand at the fastest CAGR from 2022 to 2028. Spa & Relaxation are anticipated to maintain the largest mint essential oil market in the forecast period. These oils are utilized in baby products, soaps, shampoos and oral health care products in such applications. The rising attention further drives their care applications to natural and organic products. Besides personal care and cosmetics, the essential mint oil is mainly utilized for natural plant extract-based therapeutic therapies in aromatherapy.

By Region Segmental Analysis

Based on the regional segment, the market is classified into North America, Europe, Asia-Pacific, South America and The Middle East & Africa. Asia-Pacific region maintains the largest market allocation for the mint essential oil market globally and is expected to continue its prominence in the forecast period. The region has been following an upsurge in demand for high-quality food & beverage products, which are the essential factors that have increased the demand for essential oils. In India, China, and Japan, significant growth is noticed with growing purchasing power and the market for protein-rich meat diets. Moreover, purchasers prefer products with authentic nutritional range, health advantages and exotic flavors.

Competitors Analysis

The companies include AOS Products Pvt. Ltd., Flavex Naturextrake GmbH, Foodchem International Corporation, Hindustan Mint & Agro Products, India Essential Oils, Reynaud & Fils (HRF), Rocky Mountain Essential Oil Co., Sydney Essential Oil Co., Moksha Lifestyle Products, The Lebermuth Company Inc., Vinayak Ingredients Pvt. and other prominent players in the global mint essential oil market.

Key Stakeholders

Recent Developments

On May 2020, Firmenich completed the purchase of Les Derives Résiniques et Terpeniques, a world leader in the expansion and supply of high quality, renewable, and naturally emanated components. This investment would help Firmenich become a key player in renewable components for perfumery and beyond.
On February 2021, Givaudan attained Myrissi. The investment of Myrissi would allow Givaudan’s long-term Fragrance & Beauty strategy. Their expertise in AI would support Givaudan in suggesting new organoleptic techniques to clients.

Scope of the Report

Report Attribute	Details
Market Size Value in 2021	USD 8.58 Billion
The revenue forecast in 2028	USD 18.95 Billion
Growth Rate	CAGR of 9.34 % from 2022 to 2028.
Historical data	2018 – 2021
Forecast period	2022 – 2028
Region covered	North America, Europe, Asia-Pacific, South America, and Middle East & Africa
Key companies Profiled	The Companies include AOS Products Pvt. Ltd., Flavex Naturextrake GmbH, Foodchem International Corporation, Hindustan Mint & Agro Products, India Essential Oils, Reynaud & Fils (HRF), Rocky Mountain Essential Oil Co., Sydney Essential Oil Co., Moksha Lifestyle Products, The Lebermuth Company Inc. and Vinayak Ingredients Pvt. are the key players.

Market Modelling

By Product

Cornmint Oil
Peppermint Oil
Spearmint Oil
Dementholized Peppermint Oil

By Application

Medical
Pharmaceutical
Nutraceuticals

Food and Beverages

By Region

North America
Europe
Asia-Pacific
South America
The Middle East & Africa

Table Of Contents

Methodology

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Frequently Asked Questions (FAQ):

What is Mint Essential Oil?

The essential oils also termed volatile oils, are acquired from the roots, flowers, stems, leaves, and different plant parts. Mint essential oil is extracted from stems and flowers of the mint herb using a steam distillation method. They are widely utilized in food & beverages, spa & Relaxation, medical and cleaning & home applications.

What is the growth rate of the global mint essential oil market?

Essential Oils Market size was calculated at USD 8.58 Billion in 2021, and it is estimated to reach USD 398.78 Million by 2028, growing at a CAGR of 9.34% for the forecast period 2022-2028.

What are the growth drivers for the global mint essential oil market?

Who are the major key players in the global mint essential oil market?

The Companies include AOS Products Pvt. Ltd., Flavex Naturextrake GmbH, Foodchem International Corporation, Hindustan Mint & Agro Products, India Essential Oils, Reynaud & Fils (HRF), Rocky Mountain Essential Oil Co., Sydney Essential Oil Co., Moksha Lifestyle Products, The Lebermuth Company Inc. and Vinayak Ingredients Pvt. are the key players in the global mint essential oil market.

Which region is expected to have the largest share in the global mint essential oil market?

Asia-Pacific is expected to have the largest share in the global mint essential oil market.

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Global Mint Essential Oil Market

What is Mint Essential Oil?

Growth Drivers

Rising preference towards natural and organic formulations

Opportunities

New product launches to succeed in the market.

Restraints

The high expense of the products

Pre Covid-19 Impact on Global Mint Essential Oil Market

Covid-19 Impact on Global Mint Essential Oil Market

Post Covid-19 Impact on Global Mint Essential Oil Market

By Product Segment Analysis

By Application Segmental Analysis

By Region Segmental Analysis

Competitors Analysis

Recent Developments

Scope of the Report

Market Modelling

Report Content

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