SAN FRANCISCO, Dec. 10, 2019 /PRNewswire/ -- 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 demand in 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.
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.
Key suggestions from the report:
In terms of revenue, the consumption of cornmint oil through direct sales is poised to grow at a CAGR of 8.1% in food & beverages
Cornmint oil emerged as the dominant product segment with a market share of more than 60% in terms of revenue in 2018
U.S. occupies a significant market share, stimulated by growing inclination toward preventive healthcare in the country
ADM WILD Europe GmbH & Co.KG; Essex Laboratories LLC.; and Lebermuth, Inc. which are some of the established players in terms of their value chain, regional presence, and product portfolio
The varying amounts of menthol present in mint oils is known to have different antimicrobial activity and beneficial properties. Additionally, menthol from mint essential oil is used as a key flavor and fragrances ingredient in personal care and cosmetics, medicines, and perfumes. Increasing demand for flavoring agents in food and beverage is likely to propel the consumption of product in food and beverage industry. Several overall health benefits related with essential oils are projected to drive the demand for essential oils in pharmaceutical and medical applications.
The market has been expanding with emerging applications of mint essential oil in insect repellants and cigarettes. They are increasingly being used in the production of menthol flavored cigarettes. Also, cornmint oil, dementholized oil, peppermint oil, and spearmint oil have been reported to showcase effective repellency against mosquitoes and insects. This factor has increased their application in natural insect/mosquito repellants. Further, cornmint essential oil is the most preferred oil among the flavor & fragrances industries for its minty flavor and extraction of menthol, while peppermint oil market is expected to grow owing to the rising popularity of the oil amongst household consumers as a food ingredient and aromatherapy
Increasing consumer inclination towards 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. Widespread urbanization coupled with increasing social media influence has popularized natural plant extract based healing treatments such as aromatherapy. Mint essential oil are extensively used for stress relieving applications in aromatherapy. This is likely to drive the growth of the mint essential oil market in the forthcoming years.
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)
Dementholized Peppermint Oil
Mint Essential Oil Application Outlook (Volume, Tons, Revenue, USD Thousands, 2014 - 2025)
Food & Beverages
Meat, Poultry & Seafood
Snacks & Nutritional Bars
Spa & Relaxation
Makeup and Color Cosmetics
Cleaning & Home
Mint Essential Oil Usage Outlook (Volume, Tons, Revenue, USD Thousands, 2014 - 2025)
Mint Essential Oil Regional Outlook (Volume, Tons; Revenue, USD Thousands, 2014 - 2025)
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.