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The mints market size is forecast to increase by USD 1.42 billion, at a CAGR of 3.53% between 2023 and 2028. The growth rate of the market depends on several factors, including new product launches in the market, high penetration of mints company on online channels and increased focus on oral health. It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historical data from 2018-2022, besides analyzing the current market scenario.
Mints are flavored confectionery items that are primarily used to freshen the breath. These products are usually available in the form of small, hard candies or tablets that dissolve slowly in the mouth, releasing their flavor and providing a refreshing sensation. These are often flavored with extracts from mint varieties such as peppermint or spearmint, although they can also come in several other flavors, including fruity or herbal variations.
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New product launches in the market are notably driving market growth. Introducing new products is a strategic approach for companies to tap into diverse market segments and cater to evolving consumer preferences. For instance, the launch of sugar-free mints made with natural ingredients can attract health-conscious consumers who may not have shown interest in traditional mints before. Continuous innovation and the introduction of new products provide companies with a competitive edge in the market. Such initiatives enable brands to differentiate themselves, attract new customers, and retain existing ones by offering fresh and exciting options.
Moreover, recent launches exemplify this trend, including Fox brand's introduction of chewy mints, marking its foray beyond the boiled sweet category, and Ferrero International S.A's Tic Tac Strawberry and Cream mints, featuring creamy and fruity flavors for a rapid burst of freshness. These innovations contribute to the overall growth of the market, promising continued expansion during the forecast period.
Sugar-free mints gaining traction is an emerging trend shaping market growth. With increasing awareness of the negative health effects of excessive sugar consumption, consumers are actively seeking alternatives to traditional sugary snacks and candies. Sugar-free products come in a wide range of flavors, from classic peppermint and spearmint to fruity and herbal varieties. This variety appeals to the different taste preferences of consumers, making sugar-free a popular choice among a diverse range of consumers. Vendors are responding to the growing consumer demand for sugar-free products across various food and beverage categories. By offering sugar-free mints, market companies can attract health-conscious consumers who prioritize products with reduced sugar content.
For instance, in December 2022, the Smint brand of Perfetti Van Melle Group B.V. launched Smint Defensive, sugar-free mints that contain vitamin C, vitamin B6, and zinc. By diversifying their product portfolio to include sugar-free mints, companies can tap into the sugar-free segment and drive sales and revenue growth. Thus, the growing demand for sugar-free mints will have a positive impact on the growth of the market during the forecast period.
The easy availability of substitutes for mints is a significant challenge hindering market growth. It compete with a wide range of alternative products for breath freshening and oral care, including chewing gum, breath-freshening sprays, and mouthwashes. These alternatives may offer different benefits or appeal to specific consumer preferences, posing a challenge to the growth of the market. Chewing gum is one of the most significant substitutes for mints. Like mints, chewing gum offers breath-freshening benefits and is available in various flavors. Chewing gum also provides a longer-lasting flavor experience than mints, which may appeal to some consumers. Breath-freshening sprays offer a convenient and portable solution for freshening the breath on the go. While they may not offer the same long-lasting effect as mints or chewing gum, breath-freshening sprays provide a quick and easy alternative for consumers seeking instantly fresh breath.
Moreover, medicated lozenges that contain ingredients like menthol or eucalyptus oil/essence are another substitute, offering relief from sore throats or congestion while also providing breath-freshening benefits. These products may appeal to consumers seeking dual benefits for both throat problems and bad breath. With a wide array of alternatives available, consumers have numerous options to choose from for breath freshening and oral care. This competition for consumer attention can make it difficult for mint brands to capture and retain market shares. Such factors are expected to limit the market growth during the forecast period.
The market share growth by the peppermint segment will be significant during the forecast years. Peppermint is one of the most widely cultivated and commercially important varieties of mint, valued for its distinct flavor, aroma, and various applications across industries. Peppermint has been traditionally used to alleviate nausea and vomiting. The smell of peppermint may have a calming effect on the stomach, helping reduce feelings of nausea and queasiness.
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The peppermint segment was the largest and was valued at USD 2.64 billion in 2018. Peppermint is believed to have digestive properties and is often used to alleviate symptoms of indigestion, nausea, and upset stomach. Mints made from peppermint are infused with peppermint oil or extract and, therefore, may be perceived by some consumers as a convenient and enjoyable way to potentially relieve digestive discomfort. Overall, the high demand for mints made from peppermint can be attributed to their refreshing flavor, convenience, potential health benefits, low-calorie content, stress-relieving properties, variety of options, and effective marketing strategies. As consumer preferences continue to evolve, mints made from peppermint are likely to remain a popular choice for fresh breath and on-the-go refreshments, which may fuel the growth of the market during the forecast period.
Based on the distribution channel, the market has been segmented into offline and online. The offline?segment will account for the largest share of this segment. Traditional brick-and-mortar stores, supermarkets, convenience stores, and other physical retail outlets play a crucial role in the growth of the market. Further, convenience stores and gas stations are other key outlets, as they cater to consumers looking for quick and convenient refreshments on the go. The availability of these products at these locations increases their visibility and accessibility to consumers, driving demand through offline channels, which, in turn, will have a positive impact on the growth of the market during the forecast period.
North America is estimated to contribute 54% to the growth of the global market during the projection period. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the projection period.
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North America, particularly the US, Canada, and Mexico, has a large and diverse consumer base with significant purchasing power. The region's large population size and high consumption rates contribute to the demand for mints. They are very popular in North America, where there is a strong cultural emphasis on oral hygiene and fresh breath. The convenience and portability of mints make them a preferred choice among consumers seeking quick refreshments throughout the day. There is a growing trend toward health-consciousness and mindful eating habits in North America, leading to increased demand for sugar-free and low-calorie mints. Consumers are increasingly mindful of their sugar intake and are attracted to mints that offer additional health benefits.
In addition, mints are widely available through various distribution channels in North America, including supermarkets, convenience stores, drugstores, gas stations, vending machines, and online retailers. This widespread availability ensures easy access to mints for consumers and contributes to wider market penetration. Thus, the combination of a large consumer base, rising trend of health-consciousness, innovation in product offerings, strong distribution networks, and effective marketing strategies makes North America a major market for mints. Thus, the regional North America is expected to witness growth during the forecast period.
Companies are implementing various market growth and forecasting strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches to enhance their presence in the market.
Albanese Confectionery Group Inc. - The company offers mints such as Milk Chocolate Mint Meltaways, Sugar Free Milk Chocolate Mint Meltaways, and Dark Chocolate Mint Meltaways.
The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including Albanese Confectionery Group Inc., Atkinson Candy Co., Cambie, Chocoladefabriken Lindt and Sprungli AG, ChocZero Inc., Dugar Overseas Pvt Ltd., Ferndale Confectionery Pty Ltd., Ferrero International S.A., Herbion International Inc., Lotte Corp., Mars Inc., Mondelez International Inc., Nestle SA, Neurogan CBD, Perfetti Van Melle Group BV, See Candy Shop, Inc., Soylent Nutrition Inc., The Hershey Co., The PUR Company Inc., and Valeo SA
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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research and growth report predicts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
The market, under the purview of the World Health Organization (WHO), is a dynamic industry witnessing continuous growth. Xylitol, a key ingredient in mouth fresheners, aligns with global health standards, and the Mint Research Council plays a pivotal role in promoting research and development. Government regulations, particularly in regions like Singapore, govern product innovation, emphasizing clean label ingredients and the use of botanical extracts.
The market responds to consumer preferences, offering organic confectionery, GMO-free options, and kosher food colors. Brands like Neuro Gum Mints, available in Whole Foods, contribute to the market's appeal, focusing on sustainable ingredients for a health-conscious consumer base. The market thrives on a balance of taste, freshness, and adherence to global health and quality standards.
Market Scope |
|
Report Coverage |
Details |
Page number |
157 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.53% |
Market Growth 2024-2028 |
USD 1.42 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
3.32 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 54% |
Key countries |
US, China, UK, Germany, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Albanese Confectionery Group Inc., Atkinson Candy Co., Cambie, Chocoladefabriken Lindt and Sprungli AG, ChocZero Inc., Dugar Overseas Pvt Ltd., Ferndale Confectionery Pty Ltd., Ferrero International S.A., Herbion International Inc., Lotte Corp., Mars Inc., Mondelez International Inc., Nestle SA, Neurogan CBD, Perfetti Van Melle Group BV, See Candy Shop, Inc., Soylent Nutrition Inc., The Hershey Co., The PUR Company Inc., and Valeo SA |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the 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. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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