Mints

Mints

Global Mints Market to Reach US$8.7 Billion by 2030

The global market for Mints estimated at US$6.4 Billion in the year 2023, is expected to reach US$8.7 Billion by 2030, growing at a CAGR of 4.5% over the analysis period 2023-2030. Peppermint, one of the segments analyzed in the report, is expected to record a 4.8% CAGR and reach US$3.4 Billion by the end of the analysis period. Growth in the Spearmint segment is estimated at 5.0% CAGR over the analysis period.

The U.S. Market is Estimated at US$1.7 Billion While China is Forecast to Grow at 7.0% CAGR

The Mints market in the U.S. is estimated at US$1.7 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.9 Billion by the year 2030 trailing a CAGR of 7.0% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.8% and 3.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.3% CAGR.

Global Mints Market - Key Trends & Drivers Summarized

Why Are Mints More Than Just Breath Fresheners?
Mints have evolved far beyond their traditional role as breath fresheners, becoming an integral part of the confectionery industry. They now offer a variety of flavors and benefits, including sugar-free options, organic ingredients, and functional additives like vitamins or herbal extracts. Consumers increasingly favor mints for their convenience as portable oral care or as a low-calorie snack alternative. The innovation in packaging, such as sleek, pocket-sized containers and the introduction of exotic flavors, has broadened their appeal, particularly among younger demographics who value both taste and functionality.

How Does Consumer Health Consciousness Impact the Mints Market?
As global health consciousness rises, consumers are more scrutinizing of the ingredients in their confectionery products. This shift has led to significant growth in the demand for mints that are free from artificial colors, flavors, and preservatives. The market has seen a surge in organic and natural mints, which cater to health-aware consumers. Additionally, mints containing natural sweeteners like stevia or xylitol have gained popularity due to their dental health benefits, such as reducing the risk of cavities, which aligns well with the growing wellness trend.

What Innovations Are Driving Product Development in Mints?
Innovation is pivotal in the mints market, where companies continuously strive to differentiate their products. Recent developments include the addition of functional ingredients such as caffeine and botanical extracts that offer energy-boosting or calming effects, catering to niche consumer needs. The focus on creating unique and diverse flavor profiles, like combining sweet and spicy elements, also helps in attracting a broader consumer base. Furthermore, sustainable practices in sourcing and packaging are becoming increasingly important, with brands now offering biodegradable or recyclable packaging to appeal to environmentally conscious consumers.

Which Key Factors Propel the Expansion of the Mints Market?
The growth in the mints market is driven by several factors, including a shift in consumer preferences towards convenient, health-oriented products. The growing trend of on-the-go consumption and the increasing awareness of oral hygiene are also significant contributors to market expansion. Additionally, the introduction of innovative flavors and functional ingredients has helped in capturing a wider audience, ensuring continued interest and engagement with the product category. The rise in disposable income globally allows consumers to indulge in premium and specialty mints, further stimulating market growth. As the demand for natural and organic products continues to rise, companies are poised to see sustained interest in their mint offerings, reinforcing the market’s growth trajectory.

Select Competitors (Total 28 Featured) -

• Ferndale Confectionery Pty., Ltd.
• Ferrero International SA
• Herbion International Inc.
• Mondelez International, Inc.
• Nestec, Inc.
• Perfetti Van Melle SpA
• Procter & Gamble Company, The
• Ricola AG
• The Hershey Company
• Wm. Wrigley Jr. Company, The

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