The global specialty mint oils market size is expected to reach US$ 19.3 Billion in 2022 and exhibit astonishing growth at a CAGR of 8.6% in the forecast period. Rapid expansion of the pharmaceuticals, personal care, and aromatherapy industries worldwide is set to push sales of specialty mint oils in future. As per FMI, the specialty mint oils market is likely to be valued at US$ 24.9 Billion in 2032.
| Report Attribute | Details |
| Specialty Mint Oils Market Estimated Base Year Value (2021) | US$ 18.1 Billion |
| Specialty Mint Oils Market Expected Market Value (2022) | US$ 19.3 Billion |
| Specialty Mint Oils Market Anticipated Forecast Value (2032) | US$ 24.9 Billion |
| Specialty Mint Oils Market Projected Growth Rate (2022-2032) | 8.6% CAGR |
Specialty mint oil, also known as peppermint oil is extracted from the dried herb of mint with the help of the steam distillation process. Though the plant is native to Europe, it is nowadays cultivated in various part of the globe.
Increasing usage of this type of oil in numerous applications, such as candies, insect repellents, teas, aromatherapy, chewing gums, chocolate, and oral care products is anticipated to propel the demand for specialty mint oils in the upcoming years.
Research studies have also found that specialty mint oils are capable of treating digestive problems, such as irritable bowel syndrome. The ongoing technological advancement in the field of oil extraction methods is likely to drive the production of specialty mint oils in near future.
The increasing prevalence of dental caries among both children and adults is likely to push the sales of oral care products in future. Specialty mint oil helps in effectively killing anaerobic bacteria that often live in the low-oxygen environment of one’s gums. Thus, oral care product manufacturers are increasingly focusing on developing new toothpastes and mouth-fresheners infused with these oils to prevent oral health problems and gum diseases.
As per the Centers for Disease Control and Prevention (CDC), nearly 47.2% of adults belonging to the age group of 30 years and above have some form of periodontal disease in the U.S. alone. The condition is more common in men (56.4%) than in women (38.4%). These numbers are estimated to surge at a fast pace in the assessment period, thereby augmenting the global specialty mint oils market growth.
A small dose of specialty mint oil in skin preparations and dietary supplements appear to be safe in most adults. Breastfeeding and pregnant women, on the other hand, are recommended to avoid such products as very little is known about their safety. Some of the possible side-effects of these oils include anal burning, heartburn, bouts of diarrhea, mouth sores, headache, and flushing. Spurred by the aforementioned factors, sales of specialty mint oils are expected to surge in future.
Europe is expected to generate the largest specialty mint oils market share in the evaluation period. This growth is attributable to the presence of various well-established end-use industries, such as flavors & fragrances and personal care & cosmetics in the U.K., Germany, and Italy.
The high standard of living and the increasing demand for natural ingredient-based products in these countries are projected to bode well for the regional market. In addition to that, the surging entry of various small-scale companies providing novel products is likely to aid growth.
Rising number of accessory shops, home centers, convenience stores, and discount stores in the U.S. and Canada is likely to drive the demand for specialty mint oils across North America in future years. Several importers and wholesalers are set to develop their own online retail sites along with their brick-and-mortar stores in this region. This is further expected to increase product penetration and boost the market.
Moreover, the growing usage of specialty mint oils in soaps, shampoos, and baby products owing to the increasing awareness about the benefits of using natural ingredients in personal care products is anticipated to augment growth. The trend of aromatherapy among millennials across North America is another major factor that would foster growth.
Some of the leading companies present in the global specialty mint oils market include Paras Perfumers, Lebermuth, AOS Products, Bhagat Aromatics, Aromatic and Allied Chemicals, Arora Aromatics, Elixarome, Hindustan Mint and Agro Products, Foodchem International, De Monchy Aromatics, Essex Laboratories, Vinayak Ingredients, and Shanti Chemicals among others.
The majority of the leading players in the market are engaging in mergers and acquisitions with local companies that are involved in distribution business or mint cultivation business. The global market is gradually moving towards consolidation with the entry of several new players and the development of innovative manufacturing facilities across the globe. Also, a few other companies are focusing on expanding their distribution networks in untapped areas.
| Report Attribute | Details |
| Growth Rate | CAGR of 8.6% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015-2020 |
| Forecast Period | 2022-2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
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| Customization | Available Upon Request |
The global specialty mint oils market is set to surpass US$ 24.9 Billion in 2032.
Europe is set to lead the specialty mint oils market in the forecast period.
Paras Perfumers, Lebermuth, AOS Products, Bhagat Aromatics, Aromatic and Allied Chemicals, Arora Aromatics, and Elixarome are some of the renowned companies in the specialty mint oils market.
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Specialty Mint Oils Market
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