Global Mint Essential Oil Market is valued approximately USD 231.64 Million in 2021 and is projected to grow at the growth rate of more than 9.20% over the forecast period 2022-2028. Mint essential oil is regarded as a multipurpose oil due to its superior properties such as anti-inflammatory, antifungal and antimicrobial. It has the capability to ease headaches, reduce fatigue, improves digestion, prevent gut spasms, among others. The rise in demand for essential oils around the world is driving the market growth as mint oil is a crucial essential oil. For instance, according to Statista, the sales worth of essential oils in the United Kingdom increased from USD 120.76 million in 2018 to USD 136.74 million in 2020. Likewise, according to the same source, essential oils market value in United States is projected to increase from USD 4.32 billion in 2018 to USD 7.3 billion by 2024. The other driving factor for the market growth in increase in the cosmetics industry as mint essential oils are used an ingredient in various products such as shampoos, creams, hair oil and others. According to L'oreal company's annual report, Global cosmetics growth rate has increased steadily from 4% in 2016 to 5.50% in 2019. Also, with the rise in product launches, increase in awareness among consumers to adopt natural & organic products, and growth in end-user industries such as aromatherapy, personal care are the factors contributing towards market growth over the forecast period. However, possible side effects after its high consumption and high cost of the product impedes the growth of the market over the forecast period of 2022-2028.
The major regions analyzed for the Global Mint Essential Oil Market study includes Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the dominating region across the world in terms of market share and is also anticipated to exhibit highest growth rate over the forecast period 2022-2028 owing to the higher standard of living, presence of regulatory bodies and rise in strategic initiatives undertaken by well-established large private players.
Major market player included in this report are:
Reynaud & Fils (HRF)
Flavex Naturextrakte GmbH
India Essential Oils
Sydney Essential Oil Co. (SEOC)
Moksha Lifestyle Products
Rocky Mountain Essential Oils
Dohler
Ingredion Inc. (Kerr Concentrates)
AGRANA Beteiligungs-AG
Grunewald GmbH
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Application:
Medical
Food & Beverages
Spa & Relaxation
Cosmetics
Others
By Packaging Type:
Cornmint Oil
Peppermint Oil
Spearmint Oil
Dementholized Peppermint Oil
By Usage:
Direct
Indirect
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019, 2020
Base year - 2021
Forecast period - 2022 to 2028
Target Audience of the Global Mint Essential Oil Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
