Peppermint Oil Market Introduction
Peppermint oil is an extract obtained from various parts of the peppermint plant. Peppermint oil is obtained by the steam distillation method just before the flowering stage. Peppermint oil is used in the food & beverage industries to impart natural mint flavor to various beverages, ice creams, sweets & desserts, as well as confectionary items. The cosmetic industry utilizes peppermint oil on a vast scale in body lotions, moisturizers, and different creams. The use of peppermint oil has increased in aromatherapy for its relaxing and memory boosting effects, as well as painkiller properties. Peppermint oil is used in home products such as air diffusers, room fresheners, and sprays, as well as in personal care products such as toothpastes, shampoos, soaps, mouth fresheners, etc. The use of peppermint oil is expected to increase in the food & beverage and aromatherapy segments during the forecast period.
Peppermint Oil Market Outlook
The demand for peppermint oil is expected to increase in Asia Pacific at a CAGR of 5.3% during the years of the forecast period. The increasing demand for products imparted with natural and organic ingredients, along with increase in the use of home and personal care products by consumers with changes in lifestyles, and increasing per capita income is proving to be a driving factor for the peppermint oil in Asia Pacific.
Growth of the Organic Peppermint Oil Segment
Among the nature segments in the peppermint oil market, the organic peppermint oil segment is expected to register the highest growth rate of around 7.5%, with the increased consumer demand for natural and chemical-free ingredients. However, the conventional peppermint oil segment had the highest market share in the year 2017, owing to its accessibility and lower cost.
Growing Preference of Consumers for Using Natural Additives in Food and Beverages
The rising awareness among consumers about health issues caused due to the consumption of products with chemicals and artificial flavors is driving them towards various natural products. Peppermint oils are natural, and are used to impart aroma and flavor to various food and beverages. The 'move to natural and organic formulations' trend is expected to grow. Thus, the demand for food and beverage products with natural ingredients such as peppermint oil is expected to grow during the forecast period.
Increasing Stature of Peppermint Oil in Aromatherapy
Aromatherapy is the use of aromas from natural substances for the treatment of various physical as well as emotional conditions. The aroma of natural and therapeutic oils has many benefits on various mental and physical health issues. Peppermint oil is used in aromatherapy for various purposes such as massages, inhalation, bathing, perfumes, etc. Peppermint oil is known to reduce anxiety, vomiting, and pain, as well as raise alertness and improve memory. Peppermint oil blends well with most essential oils, and hence, is preferred in most of the essential oil blends, as it helps enhance stamina and alertness. There is growing demand for peppermint oil as a result of the rising preference of consumers for natural alternatives in place of synthetic and chemical treatments. The growing preference of consumers for aromatherapy is expected to be a prominent driver for the peppermint oil market.
Use of Peppermint Oil in Home and Personal Care Products
Home care products have increased in demand due to the rising consumer preference for cleaner, safer, and refreshing homes to live in. Peppermint oil is the perfect candidate to be used in home cleaners, as it is a good solvent, and gives out a mint fragrance that freshens the entire house. Peppermint oil has a cooling effect on the skin, also promotes blood circulation, thus enhancing the skin. Peppermint oil is thus used in various body and hair care products as a replacement for various synthetics. The anti-bacterial and astringent properties of peppermint oil adds value to the product. Peppermint oil is also used in various oral care products for a freshening effect. Peppermint oil is known as a great insect repellent, and hence, is used in various insect repellents, formulations, and creams. The growing occurrence of diseases such as dengue has boosted the demand for mosquito repellents with natural active ingredients like peppermint oil.
Therapeutic Uses of Peppermint Oil
Peppermint oil is known to improve digestion and helps in irritable bowel syndrome. Peppermint oil has various therapeutic properties, and is helpful for health issues such as IBS, heartburn, indigestion, nausea, morning sickness, menstrual problems, cold and cough, inflammation in the mouth and throat, etc. Peppermint oil is inhaled or directly ingested in small quantities in order reap its therapeutic benefits. Dietary supplements are added with peppermint oil to increase its therapeutic value.
Due to all these factors, it is expected that, the global peppermint oil market will increase positively in terms of value and volume during forecast period.
This PMR report on peppermint oil analyzes the market opportunities, current updates, and insights about the various segments of the global peppermint oil market during the forecast period 2018-2027. This report includes the macro and microeconomic factors and the outlook on the peppermint oil market. The current study reveals the peppermint oil market trends and market dynamics in five major regions - North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. The report highlights the drivers and restraints of the global peppermint oil market, and their influence on each region during the forecast period. This report also includes the study of current trends and opportunities for peppermint oil.
Peppermint Oil Market: Report Description
The report puts light on the global peppermint oil market during the period 2018-2027. This report gives the insights into the recent updates and developments in the global peppermint oil market that have a positive impact and help the transformation of businesses associated with the market. In order to give a comprehensive view of the market to the user, we have included a detailed analysis and strategic overview of current key players in the peppermint oil market. We provide the estimated CAGR (Compound Annual Growth Rate) as well as year-on-year(Y-o-Y) growth rate for the forecast period. This study comprises the analysis of the peppermint oil market by nature, end use, distribution channel, and region.
Yet another key feature of this report is the analysis of the global peppermint oil market, and the corresponding revenue forecast is also carried out in terms of absolute dollar opportunity. This is often neglected during the forecast of the overall market. Absolute dollar opportunity analysis is highly essential in determining the degree of opportunity that a provider can observe to execute, as well as to distinguish the potential resources from a sales perspective in the global peppermint oil market.
The global peppermint oil report begins with the executive summary and the market definition, along with the various segments and their share in the peppermint oil market. The report also encompasses the major macroeconomic and microeconomic factors with an outlook of peppermint oil in the global essential oil market. The report furthers puts light on the drivers, opportunities, restraints, and trends in the global peppermint oil market. In order to provide users with a detailed view of profitability from the manufacturer to the end user, a detailed value chain analysis along with industry outlook is included in this report. The competitive analysis of key players in the peppermint oil market, along with their key strategic developments are further included in the report. The competitive dashboard provides valuable parameters such as total revenue, key strategies, key developments, and product offerings.
The estimation of the overall market size of peppermint oil is based on secondary research. The report highlights region-wise quantitative analysis as well as market share by nature, end use, and distribution channel, which together are incorporated to reach an accurate market estimation. The forecast presented in the peppermint oil market report arrives at the total revenue being generated, and the expected revenue contribution in the future by the global peppermint oil market.
Peppermint Oil Market Competitors
In the final section, the report contains a competitive landscape of current key players in peppermint oil manufacturing. Company profiles also give the key offerings, short- and long-term strategies of manufacturers, and recent developments in the peppermint oil space. Major competitors in the global peppermint oil market covered in this report include Young Living Essential Oils, doTERRA International, Treat PLC, NOW Health Group Inc., Melaleuca Inc, Stam Chem International, Kama Ayurveda, Ultra International Limited, Garden of Life LLC, Mentha and Allied Products Private Limited, Lebermuth Inc., Bhagat Aromatics Limited, Vigon international Inc, AOS Products, Plant Therapy Essential Oil, Mountain Rose Herbs Inc., etc.
Peppermint Oil Market: Segmentation
This section analyzes the global peppermint oil market on the basis of nature, end user, distribution channel, and region. The peppermint oil market is segmented as follows:
Peppermint Oil by Nature
Peppermint Oil by End User
Peppermint Oil by Distribution Channel
Peppermint Oil by Region