Peppermint Oil Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Peppermint Oil Market is segmented By Product Type (Natural, Conventional), By Application (Healthcare, Food & Beverages, Home & Cleaning, Spa & Relaxation, Others), By Distribution Channel (Supermarkets/Hypermarkets, Retail Sales, Online Sales, Others) and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Peppermint Oil Market Size

Global Peppermint Oil Market reached USD 423.8 million in 2022 and is expected to reach USD 701.3 million by 2030 growing with a CAGR of 6.5% during the forecast period 2024-2031. Peppermint essential oil is distilled stream from the fragrant herb, usually composed of the chemical components of menthol and menthone.

The major applications of peppermint oil comprises of aromatherapy for acne, bronchitis, asthma, digestive troubles, headaches, fatigue, and dermatitis. Numerous meta-analyses have verified the efficacy of peppermint oil within the control of Irritable Bowel Syndrome (IBS) signs and symptoms. 

Peppermint oil is significantly utilized in private care and beauty products due to its refreshing aroma and cooling sensation. The product is generally discovered in shampoos, soaps, toothpaste, and other merchandise for its fragrance, cleansing properties, and capacity skin benefits. The expanding non-public care industry has contributed to the boom of the peppermint oil market.

Peppermint Oil Market Summary

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Peppermint Oil Market Dynamics

Increasing Demand for Natural and Organic Products is Driving the Peppermint Oil Market Growth

The growing client cognizance and demand for natural food products imply a parallel trend of choice for herbal and organic substances in numerous sectors, including the use of peppermint oil as a flavoring agent in organic meals merchandise. According to a research published by Institute of organic Agriculture (FiBL), the global organic grocery store reached USD one hundred twenty five billion in 2021, an growth of nearly 4 billion euros or about three percent.

Customers are becoming extra conscious of the capability fitness and environmental risks related to synthetic chemical compounds commonly discovered in personal care, beauty, and food products. The choice to avoid these chemicals and are searching for herbal options has pushed the demand for herbal and organic merchandise, including those containing peppermint oil.

Expanding Applications in Personal Care and Cosmetics is Expected to Drive The Peppermint Oil Market Growth

The personal care industry has witnessed a growing demand for natural and plant-based elements. Customers are more and more looking for merchandise which might be perceived as more secure, healthier, and more sustainable. Peppermint oil, with its herbal residences and fresh heady scent, is a proper element for private care products, which includes shampoos, conditioners, soaps, and lotions.

Minty fragrances are popular in personal care and cosmetic merchandise due to their refreshing and invigorating homes. Peppermint oil, with its awesome minty aroma, is usually used as a perfume issue in an expansion of merchandise, consisting of perfumes, frame sprays, and colognes. The demand for minty fragrances provides an opportunity for the increase of peppermint oil within the personal care and cosmetics marketplace.

Limited Availability of High-Quality Peppermint Oil is Restraining the Peppermint Oil Market

Peppermint oil is primarily cultivated in specific regions with suitable climates and soil conditions. The cultivation of peppermint plants requires specific temperature ranges, moisture levels, and soil types. This geographic limitation can result in a limited supply of peppermint oil, as not all regions are suitable for its cultivation. The availability of high-quality peppermint oil may be restricted due to these geographic constraints.

Peppermint plants are typically harvested once or twice a year, and the oil is extracted from the plant material. The seasonal nature of peppermint cultivation and harvesting means that the availability of peppermint oil may be limited to specific periods throughout the year. This can create supply constraints and lead to fluctuations in availability, impacting the overall market.

Peppermint Oil Market Segmentation Analysis

The global peppermint oil market is segmented based on product type, application, distribution channel, and region.

The Natural Peppermint Segment Holds the Largest Market Share in the Peppermint Oil Market

Consumers are more and more seeking natural and natural merchandise throughout various industries, consisting of personal care, cosmetics, food and liquids, and aromatherapy. Peppermint oil, being a natural crucial oil derived from the peppermint plant, is nicely-placed to satisfy this growing demand. The demand for herbal components is pushed through customer concerns approximately synthetic chemical compounds, sustainability, and health. Peppermint oil is valued for its natural properties, refreshing scent, and potential health benefits, making it a popular choice amongst producers and consumers looking for herbal alternatives.

Peppermint oil reveals applications in multiple industries, along with personal care, cosmetics, food and liquids, pharmaceuticals, and aromatherapy. The versatility of peppermint oil permits it to cater to diverse consumer wishes, contributing to its large market percentage in the standard peppermint oil marketplace.

Peppermint Oil Market Geographical Share

North America is Dominating in the Peppermint Oil Market

Peppermint cultivation is prevalent in North America, specifically within the US and Canada. Those areas have favorable climatic situations and appropriate soil kinds for peppermint cultivation. States like Oregon, Washington, and Idaho within the U.S.A., as well as certain provinces in Canada, are recognized for their extensive peppermint cultivation. 

North America boasts a high manufacturing ability for peppermint oil. The vicinity has a nicely-mounted infrastructure, advanced farming practices, and a robust deliver chain for the extraction, processing, and distribution of peppermint oil. For instance, in accordance with The Observatory of monetary Complexity (OEC), in 2021, the U.S. become one of the top exporters of peppermint oil with US$ 71.nine million. This production and exporting capacity lets in North America to fulfill domestic demands and export peppermint oil to other regions.

Peppermint Oil Companies

The major global players in the market include Young Living Essential Oils, Aksu Vital Natural Products and Cosmetics, Melaleuca Inc, Aromaaz International, NOW FOODS, Greenleaf Extractions Pvt Ltd, Plant Therapy Essential Oils, Lebermuth, Inc, doTERRA, and Mountain Rose Herbs.

COVID-19 Impact on Peppermint Oil Market

Global Recession/Ukraine-Russia War/COVID-19, and Artificial Intelligence Impact Analysis:

Covid-19 Impact:

The closure of bars, restaurants, and hospitality venues due to lockdowns and social distancing measures has significantly impacted the on-trade consumption of peppermint oil. The decrease in foot traffic and restrictions on social gatherings have resulted in a decline in sales within this channel. On the other hand, off-trade sales, such as liquor stores and online platforms, have seen a surge in demand as consumers shifted towards at-home consumption. Individuals stocking up on spirits for home consumption and experimenting with homemade cocktails could have positively influenced the off-trade sales of peppermint oil.

By Product Type

• Natural
• Conventional

By Application

• Healthcare
• Food & Beverages
• Home & Cleaning
• Spa & Relaxation
• Others

By Distribution Channel

• Supermarkets/Hypermarkets
• Retail Sales
• Online Sales
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • The U.K.
  • France
  • Italy
  • Spain
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In December 2021, Baltimore-based Tilley Distribution, Inc., a leading regional distributor and value-added service provider of specialty ingredients and a portfolio company of SK Capital Partners, announced today a merger with Phoenix Aromas and Essential Oils, a leading global distributor of high-quality flavor and fragrance ingredients and compounds, serving the food and beverage, personal care, pharmaceutical, air care, and fragrance markets.
• In March 2022, UPL Ltd’s founding Shroff family is exploring a merger with at least two American firms that are CF Industries Holdings Inc. and FMC Corp. as part of the family’s plan to ensure a fair distribution of businesses and assets among its members
• In March 2022, Lupin Ltd's proposed acquisition of a portfolio of brands of Anglo-French Drugs & Industries and its associates is being seen as a positive. The turnover of the portfolio being acquired was ₹95 crore during FY21. As the acquisition is being done at a cash consideration of ₹325 crores, it implies an enterprise value to sales valuations of 3.3 times, which is attractive and lower than the industry average of 4-5 times, as per analysts.

Why Purchase the Report?

• To visualize the global peppermint oil market segmentation based on type, application, distribution channel, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities in the market by analyzing trends and co-development. 
• Excel data sheet with numerous data points of peppermint oil market-level with all segments.
• The PDF report consists of cogently put-together market analysis after exhaustive qualitative interviews and in-depth market study. 
• Product mapping is available as Excel consists of key products of all the major market players.

The global peppermint oil market report would provide approximately 61 tables, 59 figures and 190 Pages

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies