The global mint essential oil market demand is estimated to reach USD 330.02 million by 2025, registering a CAGR of 9.2% over the forecast period, according to a new report by Grand View Research, Inc. The product’s demand is anticipated to reach 66.38 kilotons by 2025. Rising demand for flavoring agents in a diversified range of end-use industries, such as food and beverage, pharmaceuticals, and personal care and cosmetics is expected to fuel the growth. In addition, growing research and development pertaining to the beneficial applications of mint oils coupled with the technological advancements in methods of extraction such as steam distillation have resulted in a significant rise in mint oil production for commercial applications. This factor is projected to fuel the growth of the mint essential oil market over the forecast period. Moreover, several overall health benefits related to essential oils are projected to drive the demand for essential oils in pharmaceutical and medical applications.
Furthermore, increasing consumer inclination toward natural and organic ingredient-based products is expected to increase the demand for mint essential oil from consumer product manufacturing industries at an exponential rate. Beside this, widespread urbanization coupled with increasing social media influence has popularized natural plant extract-based healing treatments such as aromatherapy. Mint essential oil is extensively used for stress relieving applications in aromatherapy. This is also likely to drive the growth of the mint essential oil market in the forthcoming years. According to the latest report by the International Federation of Aromatherapists, respiratory oils like Peppermint can help in improving the breathing capacity of the individual suffering from mild symptoms of COVID-19 (who has not been hospitalized). This is not a cure but it will certainly give some relief to the patient.
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Mint Essential Oil Market Report Highlights
• Rapid technological advancements in oil extraction methods are anticipated to fuel the production and positively influence the growth.
• Cornmint oil emerged as the dominant product segment with a market share of more than 60% in terms of revenue in 2018.
• Spa and relaxation application segment held the leading market share in terms of revenue in 2018. Application in personal care products, such as soap, shampoos, perfumes, and toiletries add value and aroma to the end product and hence, is projected to drive the demand for the product in the forthcoming years.
• Internet-based online usage is expected to witness lucrative growth over the forecast period. As a consequence, the prominence of traditional usage is likely to decline in near future.
• Europe emerged as the leading regional segment in terms of revenue in 2018. The strong presence of established industries such as personal care and cosmetics and flavors and fragrances is expected to be the primary regional growth driver for the region over the forecast period.
• Some key players operating in the mint essential oils market include Reynaud & Fils (HRF), Flavex Naturextrakte GmbH, India Essential Oils, Sydney Essential Oil Co. (SEOC), Moksha Lifestyle Products, and Rocky Mountain Essential Oils.
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Mint Essential Oil Market Segmentation
Grand View Research has segmented the global mint essential oil market on the basis of product, application, usage, and region:
Mint Essential Oil Product Outlook (Volume, Tons; Revenue, USD Thousands, 2014 - 2025)
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Cornmint Oil
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Peppermint Oil
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Spearmint Oil
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Dementholized Peppermint Oil
Mint Essential Oil Application Outlook (Volume, Tons; Revenue, USD Thousands, 2014 - 2025)
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Medical
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Pharmaceutical
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Nutraceuticals
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Food & Beverages
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Bakery
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Confectionery
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Dairy
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RTE Meals
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Beverages
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Meat, Poultry & Seafood
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Snacks & Nutritional Bars
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Spa & Relaxation
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Aromatherapy
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Massage Oil
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Personal Care
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Cosmetics
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Hair Care
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Skin Care
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Sun Care
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Makeup and Color Cosmetics
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Toiletries
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Soaps
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Shampoos
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Men's Grooming
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Oral Care
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Baby Care
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Fragrances
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Perfumes
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Body Sprays
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Air fresheners
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Cleaning & Home
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Kitchen Cleaners
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Floor Cleaners
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Bathroom Cleaner
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Fabric Care
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Mint Essential Oil Usage Outlook (Volume, Tons; Revenue, USD Thousands, 2014 - 2025)
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Direct Usage
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Indirect Usage
Mint Essential Oil Regional Outlook (Volume, Tons; Revenue, USD Thousands, 2014 - 2025)
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North America
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U.S.
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Canada
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Mexico
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Europe
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Germany
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France
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U.K.
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Asia Pacific
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China
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India
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Japan
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Taiwan
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South Korea
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Singapore
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Australia
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Middle East & Africa
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Central America
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South America
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About Grand View Research
Grand View Research is an Indian & U.S.-based market research and consulting company headquartered in San Francisco, which offers syndicated research reports, customized research reports, and consulting services. The company's rich database includes in-depth analysis across a range of industries including chemicals, materials, energy, healthcare, and technology, among others.
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