Mint Essential Oils Market Size, Share & Trends Analysis Report By Application (Medical, Food & Beverages, Spa & Relaxation, Cleaning & Home), By Region, And Segment Forecasts, 2023 - 2030

Mint Essential Oils Market Size, Share & Trends Analysis Report By Application (Medical, Food & Beverages, Spa & Relaxation, Cleaning & Home), By Region, And Segment Forecasts, 2023 - 2030

Mint Essential Oils Market Growth & Trends

The global mint essential oils market demand is estimated to reach USD 1,961.9 million by 2025, registering a CAGR of 9.8% from 2023 to 2030, according to a new report by Grand View Research, Inc. The product's demand is anticipated to reach 66.38 kilotons by 2025. Rising demand for flavoring agents in a diversified range of end-use industries, such as food and beverage, pharmaceuticals, and personal care and cosmetics is expected to fuel the growth.

Growing research and development pertaining to the beneficial applications of mint oils coupled with the technological advancements in methods of extraction such as steam distillation have resulted in a significant rise in mint oil production for commercial applications. This factor is projected to fuel the growth of the mint essential oil market over the forecast period.

The varying amounts of menthol present in mint oils is known to have different antimicrobial activity and beneficial properties. Additionally, menthol from mint essential oil is used as a key flavor and fragrances ingredient in personal care and cosmetics, medicines, and perfumes. Increasing demand for flavoring agents in food and beverage is likely to propel the consumption of product in food and beverage industry. Several overall health benefits related with essential oils are projected to drive the demand for essential oils in pharmaceutical and medical applications.

The market has been expanding with emerging applications of mint essential oil in insect repellants and cigarettes. They are increasingly being used in the production of menthol flavored cigarettes. Also, cornmint oil, dementholized oil, peppermint oil, and spearmint oil have been reported to showcase effective repellency against mosquitoes and insects. This factor has increased their application in natural insect/mosquito repellants. Further, cornmint essential oil is the most preferred oil among the flavor & fragrances industries for its minty flavor and extraction of menthol, while peppermint oil market is expected to grow owing to the rising popularity of the oil amongst household consumers as a food ingredient and aromatherapy

Increasing consumer inclination toward natural and organic ingredient-based products is expected to increase the demand for mint essential oil from consumer product manufacturing industries at an exponential rate. Widespread urbanization coupled with increasing social media influence has popularized natural plant extract based healing treatments such as aromatherapy. Mint essential oil are extensively used for stress relieving applications in aromatherapy. This is likely to drive the growth of the mint essential oil market in the forthcoming years.

Mint Essential Oils Market Report Highlights

• The spa & relaxation segment accounted for the largest revenue share of 42.7% in 2022 and is expected to further expand at the fastest CAGR of 10.1% during the forecast period.
• The food & beverages segment accounted for the second largest revenue share in 2022 and is estimated to witness significant CAGR over the forecast period. These essential oils are primarily used in food and beverages for their minty aroma and taste.
• Europe accounted for a significant revenue share of 39.3% in the market in 2022. The strong presence of established industries such as personal care & cosmetics and flavors & fragrances is expected to be the primary regional growth driver over the forecast period.
• North America, on the other hand, is expected to expand at the fastest CAGR of 11.7% during the forecast period. The mint essential oil market in North America is driven by several factors that contribute to its strong growth and demand.

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