Peppermint Oil Market

Peppermint Oil Market Size Analysis

According to a recent survey conducted by ChemView Consulting, the Global Peppermint Oil Market grew at a CAGR of 7.0% between 2017-2021 and is estimated to be US$ 287.6Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 6.5% and is expected to reach a valuation of US$ 539.9Mn by 2032 end.

The antibacterial characteristic of peppermint oil protects food from bacterial contamination, making it a crucial ingredient in food preservation. The sector is expected to increase significantly over the projected period due to the rising demand for aromatherapy treatments.

Due to customers’ growing inclination for healthy food products, the market is anticipated to rise as more people become aware of the health benefits of peppermint oil. Throughout the forecast period, other factors, such as expanding demand for confectionary goods, rising vegan population size, and rising disposable income, are predicted to fuel the worldwide peppermint oil market.

Market Dynamic

LONG SHELF LIFE, AS WELL AS GROWING DEMAND FROM THE PERSONAL CARE INDUSTRY

Due to its long shelf life, peppermint essential oil is used in various skin care products such as moisturizers, facial cleansers, scar, stretch mark minimizers, anti-acne gels, and hair care products such as conditioners, detangling creams, and hair regrowth serums. It also has a long shelf life because it does not oxidize or become rancid.

THE MARKET’S GROWTH IS EXPECTED TO BE HAMPERED BY A LIMITED SUPPLY OF RAW MATERIALS AND STRINGENT QUALITY STANDARDS

The lack of raw resources and high-quality requirements will hinder the market’s growth. The use of natural resources and the ensuing effects of particular essential oils limit market expansion.

The existence of an oligopoly is expected to hinder the expansion of the world peppermint market. Since the United States and Canada are the two countries with the largest product exports, regions including Asia Pacific, Europe, the Middle East, and Africa cannot compete in the peppermint market. Additionally, the scarcity of raw resources threatens the market because major competitors are already engaged in a heated rivalry for the few that are still available.

INCREASED DISPOSABLE INCOME AND STANDARD OF LIVING ARE THE MAJOR FACTORS THAT WILL PROPEL THE ESSENTIAL OIL MARKET

The essential oil market will be driven mostly by rising disposable income and standards of living and a rising need for personal care goods. Manufacturers of peppermint essential oil are anticipated to see growth during the forecast period due to the wide range of essential oil uses in unique care products.

Market Segments Covered in Report

By Product Type:

• Natural Peppermint Essential Oil
• Synthetic Peppermint Essential Oil

By Application:

• Oral Products
• Confectionary Products
• Pharmaceutical Products
• Tobacco Products
• Fragrance Products

By Extraction Process:

• Distillation
• Cold Press Extraction
• Carbon Dioxide Extraction
• Solvent Extraction
• Others

By End-User:

• Cosmetics
• Drugs and Food & Beverages
• Aromatherapy
• Home Care
• Medical
• Others

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

What are the benefits of Natural Peppermint Essential Oil?

The topical use of peppermint oil on the skin is recommended for treating conditions like headaches, muscle aches, joint discomfort, and itching. In aromatherapy, peppermint oil is touted as a remedy for stress reduction, pain relief, and the treatment of colds and coughs.

What are the medical uses of Peppermint Oil?

An antispasmodic is a class of medication that includes peppermint oil. It relieves flatulence, bloating, and stomach cramps, especially if you have irritable bowel syndrome (IBS). It functions by assisting the gut wall’s muscles in relaxing.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• Due to the region’s expanding food and beverage industry, Europe is predicted to provide the peppermint oil market with tremendous potential opportunities. The demand for peppermint oil in Europe makes up 28.9% of the global market.
• Throughout the forecast, it is predicted that the peppermint oil market in the Asia Pacific will develop at a significant rate. The expansion of related businesses, including pharmaceuticals, food, and drinks, is blamed for the market expansion in the area.

Competition Analysis

The market is extremely competitive due to a large number of participants. To offer more practical solutions to industry verticals, the new entrants in the enterprise key management market consistently engage in several collaborations and heavily spend on research and development efforts.

The recent developments in the Global Peppermint Oil Market:

• In June 2022, with the opening of a new corporate office and locally registered products in Santiago, Chile, doTERRA is extending its presence in South America. The new operations in Chile will support the region’s rising demands by enabling those who wish to use and share the best essential oils on the market.

A list of some of the key suppliers present in the market are:

• Lionel Hitchen Essential Oils
• Green Fields Oil Factory
• IL Health & Beauty Natural Oils Co. Inc.
• Aromaaz International
• Aksuvital
• Natures Natural India
• Shaanxi Guanjie Technology Co.
• Young Living Essential Oils LLC
• Biolandes
• Greenleaf Extractions Pvt. Ltd
• The Lebermuth Company
• Synthite Industries Ltd.
• doTerra
• Bio Extracts (Pvt.) Ltd

Report Coverage and Highlights

• Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
• Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
• The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
• Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
• Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
• Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
• Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
• Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
• Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
• Strategic market analysis, recommendations, and future headways on crucial winning strategies.