Global Synthetic Menthol Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Synthetic Menthol Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Synthetic menthol is a compound that is used across many industries from confectionary to pharmaceutical products. Synthetic menthol can be produced through a variety of synthetic routes. At present, the processes for industrialized production of synthetic menthol mainly include m-cresol process, myrcene process and citral process.

Market Overview:

The latest research study on the global Synthetic Menthol market finds that the global Synthetic Menthol market reached a value of USD 497.54 million in 2022. It’s expected that the market will achieve USD 609.26 million by 2028, exhibiting a CAGR of 3.43% during the forecast period.

Oral hygiene industry demand is rising

Consumers' increasing demand for a healthy lifestyle drives the development of the industry, and oral health is an indispensable part of life. People's awareness of oral health is getting stronger and stronger, and their understanding of the reasons behind oral problems is getting deeper and deeper, which also promotes the continuous expansion of the oral market. Consumers are paying more and more attention to oral care, and the demand for products is gradually increasing. Any oral care product can be influenced by the trend of high quality, including toothpaste, mouthwash, denture care products and so on. Toothpaste is one of the products most obviously affected by high quality, because toothpaste and toothbrush account for a large part of oral health care products. Menthol has the functions of flavoring, cooling, sterilization and antisepsis. Oral Hygiene is an important downstream application of menthol, and the development of oral hygiene industry drives the growth of menthol market.

Menthol side effect

Menthol can cause eye and skin irritation. When used on the skin, menthol is typically diluted into a carrier oil , lotion, or other vehicle. If a high-percentage menthol product is applied to the skin, irritation and even chemical burns have been reported.
Products that contain menthol are flammable. Some researchers think that cigarettes with menthol might increase the risk of becoming addicted to smoking and might be more toxic than regular cigarettes. Nicotine replacement products used to stop smoking work for menthol cigarette smokers as well. Some side effects of menthol may limit market growth.

Higher technical requirements

Menthol is one of the most used flavors and fragrances in the world. The chemical synthesis process is the key development direction in the future. However, due to the presence of isomers in the process of synthesizing menthol, the selectivity is poor, and it is difficult to obtain pure products. The synthesis process of menthol has high technical barriers. At present, the global menthol production capacity is mainly concentrated in BASF, Takasago, Symrise. Furthermore, few players operating in the global synthetic menthol market. Hence, the security of supply is one of the factors expected to influence the growth of the synthetic menthol market.

Region Overview:

Geographically, Europe held the largest market share – 59.19% in 2022.

Company Overview:

Symrise is one of the major players operating in the Synthetic Menthol market, holding a share of 39.52% in 2023.

Symrise

Symrise AG is a diversified chemical manufacturer. The Company produces perfume oils, fragrance bases, cosmetic raw materials and ingredients, plant extracts, aroma chemicals, flavorings, fruit powders, and seasonings.

BASF

BASF operates as a chemical company worldwide. It operates through six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, and Agricultural Solutions. The Chemicals segment provides petrochemicals and intermediates.

Segmentation Overview:

By type, Food Grade segment accounted for the largest share of market in 2022.

Pharmaceutical Grade

Pharmaceutical Grade products are used in the Pharmaceutical industry and are generally required to be certified by Pharmaceutical regulators or meet relevant standards.

Food Grade

Food Grade is mainly used in Food and food-related industries, and generally needs to pass the certification of Food regulatory authorities or government-related agencies or relevant standards.

Application Overview:

In the Synthetic Menthol market, 32.19% of the total value was generated through the Oral Hygiene segment by application in 2022.

Key Companies in the global Synthetic Menthol market covered in Chapter 3:

Takasago
BASF
Symrise

In Chapter 4 and Chapter 14.2, on the basis of types, the Synthetic Menthol market from 2018 to 2029 is primarily split into:

Pharmaceutical Grade
Food Grade

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Synthetic Menthol market from 2018 to 2029 covers:

Pharmaceuticals
Cosmetics
Oral Hygiene
Food and Beverages
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)