Global Mint Essential Oil Market – Industry Trends and Forecast to 2029

Mint Essential Oil Market Analysis and Size

The global mint essential oil market is expected to witness significant growth during the forecast period. The growing demand for products imparted with organic and natural ingredients, along with the rise in the use of personal and home care products by consumers with increasing per capita income and lifestyle changes are expected to drive the market's growth rate during forecast period.

Data Bridge Market Research analyses that the mint essential oil market was valued at USD 225.78 million in 2021 and is expected to reach USD 476.98 million by 2029, registering a CAGR of 9.80 % during the forecast period of 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Mint Essential Oil Market Scope and Segmentation

Market Definition

Mint essential oil is that essential oil which has derived from leaves and flowering parts of the plant. Mint essential oils are very concentrated in nature because they contain those substances that give characteristic odour or flavour. Mint oil is generally used as flavouring in foods and beverages products and as a fragrance in cosmetics and soaps.

Global Mint Essential Oil Market Dynamics

Drivers

• Growing demand of mint essential oil in cosmetic and personal care sector

The increasing demand for mint essential oil in the cosmetic and personal care industry will bring huge development opportunities for the mint essential oil market. The usage in cosmetic products is similar to that of pharmaceuticals. This serves special quality such as high temperature resistance in tropical regions or sun protection. Furthermore, the rising urbanization land the increasing disposable income of various individuals over all the globe which have led to an rise in the sales of personal and cosmetics care products. Hence, these factors will significantly shape the growth of the mint essential oil market.

• Rising demand of mint essential oil from the pharmaceutical sector

Mint essential oil is widely used in the pharmaceutical industry for specific formulations for instance, used as a diet supplement and as a major component in various pharmaceutical products for the treatment of burns, sores, cuts, bruises and athlete's foot and warts. The rising demand for mint essential oil from the pharmaceutical sector is expected to boost market growth.

• Long shelf life of mint essential oil

Mint essential oil has a long shelf life because it does not rancid or oxidise and does not degrade when it comes in contact with high pressure and temperatures because of their unique properties. Mint essential oil is used in multiple industries due to its different properties and longer shelf life and expected to drive the market growth rate.

Opportunities

• Surging new product launches

Increase in number of convenience stores, discount stores, home centers, and accessories shops among other retail locations has increased the product demand over the topographies. A huge number of merchants and wholesalers are propelling their online retail locales due to their current over-the-counter utilization. Vital development of end user ventures, for instance, individual consideration, fragrant healing and beauty care products, food and refreshment and pharmaceuticals are relied upon to drive the product request in the upcoming years. Rapid innovative headways in oil extraction methods are foreseen to boost the creation and impact the development.

Furthermore, the rising production of mint oil for commercial usage will also create several opportunities, leading to the growth of the mint essential oil market during the forecast period.

Restraints/ Challenges

• Issues associated with mint essential oil

Fluctuation in price of crude oil used in mint essential oil production may obstruct the growth of the global mint essential oil market. Furthermore, stringent quality standards, limited supply of raw materials, increasing consumption of natural reserves and subsequent outcomes related with some essential oils acts as a restraint on market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Mint Essential Oil Market

The outbreak of the COVID-19 epidemic has severally affected the growth of the global mint essential oil market.  The mint essential oil market saw a decline in the economic growth in almost several major countries and affecting the customer spending patterns. Due to the lockdown which has imposed by the government in many countries, national and international transport have been significantly disrupted the supply chain of many industries overall the globe. Thus, insufficiency in raw material supply is anticipated to obstruct the manufacturing rate of mint essential oils, which has adversely impacted the growth of the mint essential oil market.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Global Mint Essential Oil Market Scope

The mint essential oil market is segmented on the basis of product, usage and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Corn Mint Oil
• Peppermint Oil
• Spearmint Oil
• Dementholized Peppermint Oil

Usage

• Direct Usage
• Indirect Usage

 Application

• Medical
• Food and Beverages
• Spa and Relaxation
• Cleaning and Home
• Ohers

Mint Essential Oil Market Regional Analysis/Insights

The mint essential oil market is analysed and market size insights and trends are provided by country, product, usage and application as referenced above.

The countries covered in the mint essential oil market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Europe dominates the mint essential oil market in terms of revenue and market share due to presence of well-known industries such as cosmetics, personal care, fragrances and flavours in this region

Asia-Pacific is anticipated to be the fastest developing region during forecast period of 2022-2029 due to growth in disposable income and augmented investment in the application of natural resources in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Mint Essential Oil Market Share Analysis

The mint essential oil market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to mint essential oil market.

Some of the major players operating in the mint essential oil market are:

• GrainCorp (Australia)
• Malteurop (France)
• Rahr Corporation (U.S.)
• Boortmalt (Belgium)
• Indesso (Spain)
• Lipoid Kosmetic AG, (Germany)
• The Herbarie at Stoney Hill Farm, Inc. (U.S.)
• International Flavors & Fragrances, Inc. (Netherlands)
• Bell Flavors & Fragrances (France)
• Rutland Biodynamics Ltd. (Scotland)
• Prakruti Products Pvt. Ltd (India)
• AmbePhytoextractsPvt. Ltd. (Austria)
• The Green Labs LLC (Netherlands)
• Berje, Inc. (Italy)
• Umalaxmi Organics Pvt. Ltd. (India)
• DSM (Netherlands)

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