Enjoy complimentary customisation on priority with our Enterprise License!
The Mentha Oil Market size is forecast to increase by USD 181.2 million, at a CAGR of 10.87% between 2023 and 2028. The market's growth hinges on several factors, notably the health benefits of essential oils, their expanding applications across diverse industries, and the expansion of retail space. As awareness of their therapeutic properties increases, essential oils find use in personal care, cosmetics, pharmaceuticals, and the food and beverage sectors. This broadening scope of application fuels demand, while the continuous expansion of retail channels amplifies accessibility to consumers. Consequently, the market thrives on the convergence of health consciousness, industrial versatility, and enhanced retail availability, driving sustained growth and market expansion.
To learn more about this report, Download Report Sample
The market encompasses various sectors including cosmetics and personal care, where it serves as a key ingredient due to its synthetic and natural forms. Derived from the mentha plant species, mentha oil is utilized in chemical synthesis techniques to produce synthetic mentha oil, which is essential in the aromatherapy industry and medicinal components. Natural variants like orange oil, clove oil, and patchouli oil are pivotal in the organic products industry and natural flavors market. The market operates across commodities, futures exchanges, spot markets, and over-the-counter platforms, involving farmers, processors, and merchants in cultivation, extraction, and distribution processes. As demand for natural and synthetic mentha oil rises globally, driven by its versatile applications and therapeutic properties, the market continues to evolve with advancements in extraction technologies and sustainable farming practices to meet industry standards and consumer preferences.
The health benefits of essential oils are notably driving market growth. It has various medicinal benefits that help in relieving stress, nervous tension, anxiety, depression, fatigue, and mental strain. fuel its adoption among consumers. It is a natural relaxant oil that contains chemical compounds such as menthol, menthone, and eucalyptol, which help reduce skin inflammation. It is commonly used to soothe muscle distress. Mentha oil treats acne, heals wounds, hydrates, and tones the skin, and brightens the skin. It improves hair growth and prevents hair loss. Therefore its several health benefits will fuel its adoption among customers and will support the market growth during the forecast period.
Clean labeling of essential oils is the primary trend supporting market growth. Align with market trends and analysis, consumers' preference for clean-label products is compelling vendors to ensure that the products include only those ingredients that consumers recognize as natural and organic. It with clean labels is really popular right now. Companies are making sure that their mentha oil products adhere to clean labeling in order to boost sales. Therefore, these factors will positively impact the growth of the market during the forecast period.
Increasing competition from other essential oils is the major challenge impeding market growth. Alternative essential oils include lavender oil, basil oil, and lemongrass oil. The threat posed by substitute essential oils will grow during the forecast period due to product launches and improvements in related product categories. For instance, In May 2018, Arbonne International, LLC launched pure essential oil blends, including Arbonne Rescue and Renew Pure Essential Oils in tea tree blend. The new product can be used for topical as well as aromatic purposes. Players in the market will need to develop novel tactics to distinguish their products and implement aggressive marketing efforts to stay competitive. Therefore, the increasing competition from other essential oil products will impede the market growth and trends during the forecast period.
The market forecasting report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. The market growth analysis report focuses on adoption rates in different regions based on penetration. Furthermore, the market research report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
A.G. Industries - The company offers a wide range of mentha oils such as Peppermint Oil, Mentha Citrata Peppermint Oil, and Cornmint Oil.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth in the pharmaceutical segment will be significant during the forecast period. It is used to cure acne and skin infections as well as to revitalize dull hair and skin due to its diaphoretic, stimulant, carminative, and expectorant properties. Numerous skin care products that aim to improve skin tone contain mentha oil. Therefore, the application in both hair care and pharmaceuticals segments is expected to increase significantly during the forecast period.
Get a glance at the market contribution of various segments Request a PDF Sample
The pharmaceutical segment was valued at USD 65.50 million in 2018. Mentha oil is also used in traditional Indian medical recipes. Basil essential oil has been used in traditional Indian medicine for a long as a treatment for digestive problems, nausea, cholera, colds, cramps, and many more. It is also used for preparing dental cream and mouthwash formulations. Moreover, it finds application in perfumes and insect repellents. These applications will facilitate segment growth during the forecast period.
For more insights on the market share of various regions Request PDF Sample now!
APAC is estimated to contribute 53% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional market trends and drivers that shape the market during the forecast period. The expansion of the market in APAC is being driven by the growing awareness of its health advantages. India is one of the world's top manufacturers, which is utilized in traditional Indian medicine. Moreover, mentha oil is exported from India to nations like the US, China, Germany, Singapore, and France. Due to the growing use in numerous goods, including food, drink, and cosmetics, the demand is anticipated to rise in APAC over the forecast period. The increasing popularity of aroma therapy is also expected to propel the growth of the market during the forecast period.
The market analysis and report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million " for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
You may also interested in below market reports:
The market serves diverse industries, prominently the cosmetics and personal care sector, where it functions as a fragrance ingredient and medicinal component. It is utilized as artificially created mentha oil in various consumer goods, ensuring a standardized ingredient in products ranging from fragrances to bio-oil and flavoring solution. Natural derivatives like natural menthol cater to pharmaceutical buyers and consumer packaged goods (CPG) firms, influencing the aromatherapy sector and organic personal care & cosmetics industry. The market operates through commodities market and involves exporters and importers in the trade of mentha oil, essential for flavor and fragrance manufacturers and producers of natural cleaning products. Packaging solutions range from plastic bottle to glass bottle, supporting applications in the condiment industry. As demand grows for both synthetic alternatives and natural derivatives, mentha oil continues to play a vital role in global markets, driven by its versatile uses and therapeutic benefits. Flavoring agent at the Tier II raw material level play a critical role in enhancing organic personal care products within the personal care &cosmetics industry.
Market Scope |
|
Report Coverage |
Details |
Page number |
154 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.87% |
Market growth 2024-2028 |
USD 181.2 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
9.54 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 53% |
Key countries |
India, China, Brazil, US, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
A.G. Industries, AOS Products Pvt. Ltd., Azelis SA, Bhagat Aromatics Ltd., doTERRA International LLC, Foodchem International Corp., Garden of Life LLC, Herbochem Industries, Hindustan Mint and Agro Products Pvt. Ltd., Katyani Exports, Melaleuca Inc., Mentha and Allied Products Pvt. Ltd., Neeru Menthol Pvt. Ltd., NOW Health Group Inc., Plant Therapy, PUIG S.L., Shree Balaji Aromatics Pvt. Ltd., The Lebermuth Co. Inc., Ultra International Ltd., and Young Living Essential Oils LC |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for market forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.