Peppermint Oil Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1876
Peppermint Oil Market size will register substantial growth in the forecast time period owing to its wide usage in medicines due to its therapeutic benefits. The product is extracted from stem and flower of herb. It is well known for its property of giving cool and calm effects on the body. Rising demand for aromatherapy treatments will drive the peppermint market growth.
Personal care industry’s rapid growth of over 40% in the last 5 years has raise the usage of the product in the skin and hair care products. Consumption pattern of skin and hair care products in teenagers is substantially rising. Men and Women are equally contributing in the growth of peppermint oil market. It was estimated that 25% salon business come from men’s treatment. It is used in cosmetics and soaps for fragrance and can also be applied on skin as an ointment or cream. Its usage on face for controlling ache, brighten face, excellent toner and cleaner raises demand in peppermint oil market.
Pharmaceutical industry is growing at over 5% CAGR and driving peppermint oil market. It is widely used as dietary supplement for irritable bowel syndrome, digestive problem, headaches, itching and common cold. It is also consumed with tea to eliminate inflammation, weight loss and boost in immune system. Growing rate of illness along with increasing the demand for medicines is positively impact the peppermint oil market.
Growing food and beverage industry including candies and chewing gum is one of the major driving factor for market growth. Usage of the product in food and beverage industry as a flavoring agent and safe natural food additives has accelerated consumption of the commodity. People switching to organic and natural products from regular commodities has also contributed in the product demand.
Skin rashes, vomiting, nausea, slow or rapid breathing, unconsciousness, depression and abdominal pain are some health problems. It is extensively used in oral care products. Cooling effect, ability to kill bacteria responsible for breath, ill effect on human body and interference in sleep are the factors hindering growth of peppermint oil market.
Segmentation in peppermint oil market on the basis of end use industries includes oral, confectionaries, pharmaceuticals, tobacco and fragrance. Classification of the commodity in terms of application includes mouthwash, toothpaste, oral spray, candies, gums, drugs, medicated items, cigarettes, Tabaco, soap shampoo and aftershave lotions.
Europe accounts for substantial growth in peppermint oil market owing to increasing skin and hair care industry boosted by increasing awareness towards health and hygiene in the region. Rising awareness of Organic and natural benefits of the product including cosmetics, hair care, soap, aftershave for refreshment and fragrance will drive the product growth.
The U.S. is world’s most important pharmaceutical industry. It accounts over 45% of global pharmaceutical industry. Many global top companies are from North America region, which are contributing the largest market share in medicine industry and biopharmaceuticals research. The product is widely used in medicines to prevent various dieses such as acidity and indigestion in body.
China and India consumes largest amount of share of confectionaries, the product is extensively used to add flavors and give natural taste to confectionary items such as chocolates, cakes and candies. Mostly Asian countries consumes huge quantity of these items will propel the product growth.
Key contributor in peppermint oil market are Essex Laboratories, Vinayak Ingredients, AOS Products Private Limited, Foodchem International Corporation, Bhagat Aromatics, Paras Perfumes, Hindustan Agro Pvt. Ltd., The Lebermuth Company, Inc., De Monchy Aromatics and Aromatic and Allied chemicals.
De Monchy Aromatics partners with Renessenz in 2013 to expand its offering in China. Objective of partnership was to expand its business and existing product range of over 200 items including mint to available Chinese consumers. Companies are committed to the development and offering of sustainably produced materials aligns well with corporate philosophy and future plans for the group.
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