Mint Essential Oil Market (Product - Cornmint Oil, Peppermint Oil, and Spearmint Oil; Application - Medical, Food & Beverages, Personal Care, and Aromatherapy; Distribution Channel - Home Centre, Accessory Shops, Convenience Stores, and Other Distribution Channels): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

A recent report published by Infinium Global Research on the mint essential oil market provides in-depth analysis of segments and sub-segments in the global as well as regional mint essential oil market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional mint essential oil market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global mint essential oil market. According to the report, the global mint essential oil market is projected to grow at a CAGR of 8.37% over the forecast period of 2021-2027.

Market Insight

The Mint essential oil market was valued at USD 200.81 million in 2020 and is expected to reach USD 346.97 million in 2027, with a CAGR of 8.37% during the forecast period. Mint plants are used in pharmaceutical and food industries and are characterized by high morphological variation and natural interspecies hybridization. Mints (Mentha plants) are famous aromatic and medicinal herbs that are used in traditional and folk medicines in the world for their antimicrobial and antioxidant properties. Mints contain volatile components, flavonoids, organic acids, quinones, such as for the digestive system, central nervous system, respiratory system. It was used in antimicrobial, anti-inflammatory, or anesthesia. The medicinal and culinary characteristics of mint plants are mainly bounded to the composition of polyphenolic compounds and essential oils.

The inclination toward organic and natural ingredient-based products in the developed nations is the primary driving factor for the mint essential oil market. Consumers in North America and the European regions are more inclined toward organic food products as they are becoming more aware of what they are consuming. In addition, the demand for organic skincare products is high in North America and the European region compared to the other region. Furthermore, growing disposable income and increasing demand of slavering agents from end-user industries are other driving factors for the mint essential oil market. Mentha plants are one of the most popular herbs that have been used for their medicinal and aromatherapeutic properties since ancient times. However, the high cost of essential oils will act as a limitation to the growth of the mint essential oil market. Moreover, the growing production of mint oil for commercial usage is anticipated to provide growth opportunities to the market players. The outbreak of coronavirus has negatively impacted o the mint essential oil end-use industries. These industries include medical, food & beverages, personal care, and aromatherapy. Food & Beverages, personal care, and aromatherapy are highly affected by the Covid-19. The majority of Food & Beverages companies were not adequately prepared for the current pandemic. The companies in the sectors such as consumer products, food & beverage, and personal care are facing significantly reduced consumption as well as disrupted supply chains. Furthermore, harvesting of wheat combined with the shortage of quality stolon had an impact at the transplanting stage.

Geographically, Europe dominates the mint essential oil market due to the presence of well-known industries such as personal care, cosmetics, fragrances, and flavors in the region. Early developed economies along with a higher standard of living are contributing to the development of key end-use industries. The Asia Pacific is the fastest-growing market for mint essential oil during the forecast period. The factors such as growth in population, rise in disposable incomes, rapid urbanization in developing countries, and an increase in demand for high-quality food & beverage products are driving the demand for essential oils in the Asia Pacific region.

Segment Covered

The report on global mint essential oil market covers segments such as product, application, and distribution channel. On the basis of product, the sub-markets include cornmint oil, peppermint oil, and spearmint oil. On the basis of application, the sub-markets include medical, food & beverages, personal care, and aromatherapy. On the basis of distribution channel, the sub-markets include home centre, accessory shops, convenience stores, and other distribution channels.

Companies Profiled:

The report provides profiles of the companies in the market such as H Reynaud et Fils Ltd., Flavex Naturextrakte GmbH, Sydney Essential Oil Co., Rocky Mountain Essential Oils, Bhagat Aromatics Ltd, Veda oils, BMV Fragrances Pvt. Ltd., Mentha Essential Oil, The Lebermuth Company, Inc., and Essex Laboratories LLC.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of mint essential oil market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.