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.
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:
By Extraction Process:
By Region and Country:
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.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
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:
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Product Type, Application, Extraction Process, End-User, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Frequently Asked Questions
In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 6.5%.
Long shelf life, as well as growing demand from the personal care industry.
Major global Peppermint Oil Market players 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
The market’s growth is expected to be hampered by a limited supply of raw materials and stringent quality standards
Europe is expected to account for the largest market revenue share in the Global Peppermint Oil market.
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