Global Peppermint Essential Oil Market, By Product Type (Natural Peppermint Essential Oil and Synthetic Peppermint Essential Oil), Method of Extraction (Distillation, Carbon Dioxide Extraction, Cold Press Extraction, Solvent Extraction, Others), End Use (Cosmetics, Drugs and Food & Beverages, Aromatherapy, Home Care, Health Care, Others), Application (Oral Products, Confectionary Products, Pharmaceutical Products, Tobacco Products, Fragrance Products) – Industry Trends and Forecast to 2029.
Peppermint Essential Oil Market Analysis and Size
The health benefits provided by peppermint essential oils drive the market. As a result, the market for their application has seen rapid growth, with them now being used in almost every industry, from food and beverage to medicines and animal feed, as well as personal care products.
Data Bridge Market Research analyses that the peppermint essential oil market was 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. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behaviour.
Peppermint Essential Oil Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Natural Peppermint Essential Oil and Synthetic Peppermint Essential Oil), Method of Extraction (Distillation, Carbon Dioxide Extraction, Cold Press Extraction, Solvent Extraction, Others), End Use (Cosmetics, Drugs and Food & Beverages, Aromatherapy, Home Care, Health Care, Others), Application (Oral Products, Confectionary Products, Pharmaceutical Products, Tobacco Products, Fragrance Products)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Global (APAC) in the Global (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Thermo Fisher Scientific Inc. (U.S.), Intertek Group plc (U.K.), Eurofins Scientific (Luxembourg), ALS Limited (Australia), SGS SA (Switzerland), TUV SUD (Germany), NEOGEN Corporation (U.S.), Microlabs Ltd (India), Advanced Laboratory Testing (Ireland), Mérieux NutriSciences (U.S.), NSF International (U.S.)
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Opportunities
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Market Definition
Peppermint oil is an essential oil derived from the flowers and stem of the peppermint plant. The oil is obtained through steam distillation. These are volatile, aromatic plant essences with flavouring properties that make them extremely useful in applications such as food and beverage, cosmetics, home care and cleaning, aromatherapy, and fragrance.
Peppermint Essential Oil Market Dynamics
Drivers
- Long shelf life as well as growing demand from personal care industry
Peppermint essential oil has a long shelf life because it does not oxidise or become rancid and does not degrade when subjected to high temperatures and pressure because of this property, it is used in a variety of skin care products, including moisturisers, facial cleansers, scar and stretch mark minimizers, and anti-acne gels, as well as hair care products, including conditioners, de-tangling creams, and hair regrowth serums.
- The growing application in supplement and pharmaceutical industries
In addition, peppermint essential oil contains a variety of vitamins and minerals, including vitamin E and B complex, silicon, chromium, copper, iodine, and zinc. As a result, it is used as a diet supplement and as a key ingredient in several pharmaceutical products for the treatment of sores, cuts, bruises, burns, and athlete's foot and warts. Furthermore, as some plants seeds can be cultivated after five years, leading companies are investing in R&D activities to develop innovative and cost-effective technologies to ensure a consistent supply of oil resources.
Opportunity
Increased disposable income and standard of living are the major factors which will propel the essential oil market; increased demand for personal care products drives the market rapidly. The variety of essential oil applications in personal care products is expanding rapidly, which is likely to create new opportunities for peppermint essential oil market manufacturers during the forecast period.
Restraints
However, the market's growth is expected to be hampered by a limited supply of raw materials and stringent quality standards. The consumption of natural reserves and the subsequent outcomes associated with some essential oils acts as a restraint on market growth.
This peppermint essential oil market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the peppermint essential oil market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Peppermint Essential Oil Market
Despite the fact that the COVID-19 pandemic had a negative impact on several industries, the essential oils market grew during this time. As mentioned peppermint essential oils have antimicrobial, antioxidant, and anti-infective properties, they are used to treat a variety of health conditions such as stress, immunity disorders, sleep disorders, and depression. As a result, the importance of the essential oils market increased during the pandemic as the number of patients with mental health problems increased, propelling the market's growth.
Recent development
- In May 2020, Firmenich completed the acquisition of Les Derives Résiniques ET Terpeniques, a global leader in developing and supplying high-quality, renewable, and naturally derived ingredients. This acquisition would position Firmenich as a leader in renewable ingredients for perfumery and other applications.
- In October 2020, dôTERRA announced several new essential oil products and diffusers and three new wellness programmes to help people focus on their specific health goals.
- In February 2021, Givaudan acquired Myrissi. Givaudan's long-term Fragrance & Beauty strategy would be aided by the acquisition of Myrissi. Their A.I. expertise would help Givaudan propose new organoleptic approaches to consumers.
Global Peppermint Essential Oil Market Scope
The peppermint essential oil market is segmented on the basis of product type, method of extraction, end use and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Products
- Natural Peppermint Essential Oil
- Synthetic Peppermint Essential Oil
Extraction method
- Distillation
- Cold Press Extraction
- Carbon Dioxide Extraction
- Solvent Extraction
- Others
End user
- Cosmetics
- Drugs and Food & Beverages
- Aromatherapy
- Home Care
- Health Care
- Others
Application
- Oral Products
- Confectionary Products
- Pharmaceutical Products
- Tobacco Products
- Fragrance Products
Peppermint Essential Oil Market Regional Analysis/Insights
The peppermint essential oil market is analysed and market size insights and trends are provided by country, product type, method of extraction, end use and application as referenced above.
The countries covered in the peppermint essential oil market report are U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Global (APAC) in the Global (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific (APAC) is expected to increase the essential oils business during the mentioned forecast period. The factors driving the province's trade growth are an increase in disposable income and increased investment in the application of natural resources.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Peppermint Essential Oil Market Share Analysis
The peppermint essential oil market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to peppermint essential oil market.
Some of the major players operating in the peppermint essential oil market are:
- 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)
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