Reports And Data

Mint Essential Oils Market Size – USD 191.9 Million in 2019, Market Growth - CAGR of 8.3%, Market Trends – High demand from developing nations.

NEW YORK CITY, NY, UNITED STATES, November 19, 2021 /EINPresswire.com/ -- The global Mint Essential Oils market is forecast to reach USD 346.6 Million by 2027, according to a new report by Reports and Data. Growing demand from the end-use industries is driving the demand for the market. Mint Essential Oils find applications in industries such as aromatherapy, pharmaceuticals, food and beverage, personal care, and cosmetics. Increasing advancements in the methods of oil extraction are also leading to a surge in demand for the product.

Rapid urbanization, along with the growing influence of social media, has made natural plant extract-based healing treatment popular. These include aromatherapy and spa. This has led to increased use of Mint Essential Oils in aromatherapy applications and stress-relieving spas. Increases in aromatherapy applications due to the increasing urbanization are expected to lead to a further increase in demand for the product.

Increasing disposable incomes, especially in developing countries, has led to the changing lifestyles of the population. There is a shift towards organic and natural personal care and cosmetic products, in the developing and developed countries. In countries like the U.S., the U.K., and Germany, there is increasing consumption of organically extracted oils in the cosmetics and personal care industries. This is leading to an increase in the market size of Mint Essential Oils.

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Key participants include AM Todd, Labbeemint, P Callison, Young Living Essential Oils, Sydney Essential Oil Co. (SEOC), Rocky Mountain Essential Oils, Moksha Lifestyle Products, India Essential Oils, Reynaud & Fils (HRF), and Flavex Naturextrakte GmbH, among others.

Market Overview:
Rapid digitalization and sustainability have changed the dynamics of the chemicals and materials industry. Recent efforts to boost manufacturing and production capacity, improve R&D costs, and enhance flexibility and agility of the production facilities are key factors expected to drive market growth over the forecast period. Integration of blockchain, machine learning, and the Internet of Things (IoT) to improve work efficiency and increase production output have contributed to revenue growth. Chemical industry and rapid integration of nanotechnology that has enhanced production of materials like polymers, chemicals, raw materials, and bio-based plastics are also predicted to boost revenue growth of the market going ahead.

The advent of 3D printing has revolutionized the production of materials and improved R&D costs which has helped support new business models. In addition, advanced recycling technologies have addressed the concerns of plastic waste recycling and this has created a lot of lucrative opportunities for the companies operating in the market.

Further key findings from the report suggest

Food and beverages occupied the second largest market share of 14.4% in 2019. Mint Essential Oils are used in food for their minty taste and aroma. Another factor increasing consumption is the introduction of the therapeutic benefits of the product in food and beverages. The properties it offers, such as being anti-microbial and anti-oxidant, are expected to drive the growth of the product in the segment.

Peppermint oil occupied 32.5% of the market share in 2019. This is due to the versatility of peppermint oil as it can be used topically, aromatically, and internally. The product is popular in household consumers because of its properties, such as being an insect repellant, flavoring agent in dishes, and its calming aroma. Increasing awareness regarding aromatherapy is expected to lead to a surge in the demand of Peppermint oil.

Direct Usage segment is forecasted to grow at a CAGR of 8.9% in the forecast period. Direct usage involves buying directly from the manufacturer. This segment is smaller than indirect usage but is growing at a higher rate since consumers get special discounts and offer when buying directly from the manufacturer, and the increased cost due to middlemen is also eliminated. These benefits provided to the consumers are leading to the growth of this segment.

Asia Pacific is forecasted to grow at a CAGR of 9.3% in the forecast period. Increasing disposable incomes of the population are leading to a better lifestyle among the people. This has led to an increase in the consumption of natural and organic ingredients-based cosmetics and personal care products. This factor is leading to an increased demand for the product from the region.

In the U.S., the market is witnessing a high growth rate due to the rising demand for organic and natural products. The government has also allowed exemptions on import duty, which propagates the demand for the product. A large number of manufacturers present in the country are also driving the growth for the market.

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For the purpose of this report, Reports and Data have segmented into the global Mint Essential Oils market on the basis of product, application, usage, and region:
Product Outlook (Volume, Tons, 2017-2027, Revenue, USD Million; 2017-2027)

Spearmint Oil
Peppermint Oil
Corn mint Oil
Dementholized Peppermint Oil

Application Outlook (Volume, Tons, 2017-2027, Revenue, USD Million; 2017-2027)

Medical
Pharmaceutical
Nutraceutical
Cleaning and Home
Kitchen Cleaners
Floor Cleaners
Bathroom Cleaners
Fabric Care
Food and Beverages
Bakery
Confectionary
Dairy
RTE Meals
Beverages
Meat, Poultry, and Seafood
Snacks and Nutritional Bars
Spa and Relaxation
Aromatherapy
Massage Oil
Personal Care
Cosmetics
Hair Care
Skin Care
Sun Care
Toiletries
Soaps
Shampoos
Men’s Grooming
Oral Care
Baby Care
Fragrances
Perfumes
Body Sprays
Air Fresheners

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Usage Outlook (Volume, Tons, 2017-2027, Revenue, USD Million; 2017-2027)

Indirect Usage
Direct Usage

Regional Outlook (Volume, Tons, 2017-2027, Revenue, USD Million; 2017-2027)

North America
Europe
Asia Pacific
MEA
Latin America

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Reports and Data
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