Peppermint essential oil holds significant value in the global market due to its aromatic and therapeutic properties. With a wide range of applications across industries, including pharmaceuticals, and personal care, it is a versatile ingredient. The growing consumer awareness of natural and organic products and health and wellness trends drive the demand for peppermint essential oil. Additionally, its sustainable and eco-friendly sourcing methods contribute to its market significance.
According to Data Bridge Market Research, Peppermint Essential Oil Market is valued at USD 232.91 million in 2021 and is expected to reach the value of USD 477.89 million by 2029, at a CAGR of 9.4% during the forecast period of 2022-2029.
"Increasing demand in the food and beverage industry surge market demand"
The food and beverage industry plays a significant role in driving the demand for peppermint essential oil. With its refreshing and minty flavor profile, peppermint essential oil is a popular choice as a flavoring agent in a wide range of food and beverage products. It is commonly used in confectionery, beverages, chocolates, and baked goods to enhance their taste and provide a distinct minty sensation. The growing consumer preference for unique flavors contributes to the increasing demand for peppermint essential oil in the food and beverage industry.
What restraints the growth of the peppermint essential oil market?
"Price volatility can impede the market growth”
The price volatility of peppermint essential oil is influenced by various factors that affect the supply and demand dynamics of the market. Factors such as weather conditions, crop yields, and production costs can lead to fluctuations in raw material prices. This volatility poses challenges for market players in maintaining profitability and establishing competitive pricing strategies. It requires careful monitoring and management of costs to ensure stability in the peppermint essential oil market.
Segmentation: Global Peppermint Essential Oil Market
The peppermint essential oil market is segmented on the basis of product type, method of extraction, end use, and application.
- On the basis of product type, the peppermint essential oil market is segmented into natural peppermint essential oil and synthetic peppermint essential oil.
- On the basis of method of extraction, the peppermint essential oil market is segmented into distillation, carbon dioxide extraction, cold press extraction, solvent extraction, others
- On the basis of end use, the peppermint essential oil market is segmented into cosmetics, drugs and food and beverages, aromatherapy, home care, health care, others
- On the basis of application, the peppermint essential oil market is segmented into oral products, confectionary products, pharmaceutical products, tobacco products, fragrance products.
Regional Insights: Europe dominates the global peppermint essential oil market
Europe's position as the leading regional segment in the essential oils market can be attributed to well-established industries, including personal care, cosmetics, flavors, and fragrances. These industries extensively utilize essential oils in their products, driving the demand for high-quality and diverse essential oil offerings. With a focus on natural and sustainable ingredients, Europe is expected to continue experiencing growth in the essential oils market, driven by the demand from these key industries.
Due to multiple factors, Asia-Pacific (APAC) is poised for significant growth in the essential oils business. The region's rising disposable income allows consumers to prioritize natural and high-quality products, including essential oils. Moreover, increased investment in extracting and applying natural resources further supports the industry's growth. As a result, APAC presents a lucrative market for essential oils driven by consumer preferences for natural and sustainable solutions.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/global-peppermint-essential-oil-market
Recent Developments in Global Peppermint Essential Oil Market
- In 2020, Les Derives Résiniques ET Terpeniques, a leader in the development and distribution of premium, naturally derived ingredients, was acquired by Firmenich. With this acquisition, Firmenich would be positioned as a pioneer in renewable ingredients for cosmetics and other uses.
- In 2020, To assist people in focusing on their unique health objectives, dôTERRA recently unveiled a number of new essential oil products, diffusers, and wellness programs.
- In 2021, Myrissi was purchased by Givaudan. The purchase of Myrissi would benefit Givaudan's long-term Fragrance and Beauty strategy. Their A.I. knowledge would assist Givaudan in recommending novel organoleptic strategies to customers.
The Prominent Key Players Operating in the Global Peppermint Essential Oil Market Include:
- GrainCorp (Australia)
- Malteurop (France)
- Rahr Corporation (U.S.)
- Boortmalt (Belgium)
- Indesso (Spain)
- Lipoid Kosmetic AG, (Germany)
- The Herbarie at Stoney Hill Farm, Inc. (U.S.)
- International Flavors & Fragrances, Inc. (Netherlands)
- Bell Flavors & Fragrances (France)
- Rutland Biodynamics Ltd. (Scotland)
- Prakruti Products Pvt. Ltd (India)
- AmbePhytoextractsPvt. Ltd. (Austria)
- The Green Labs LLC (Netherlands)
- Berje, Inc. (Italy)
- Umalaxmi Organics Pvt. Ltd. (India)
- DSM (Netherlands)
Above are the key players covered in the report, to know about more and exhaustive list of peppermint essential oil market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Peppermint Essential Oil Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by dbmr research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
