Mints Market - Growth, Trends, and Forecasts (2023 - 2028)

Mints Market - Growth, Trends, and Forecasts (2023 - 2028)

The global mints market is expected to register a CAGR of 4.2% over the next five years.

One of the critical aspects promoting the growth of the mints market is the rising awareness of oral health. Furthermore, an increase in oral issues, including plaque, discolored teeth, and foul odor, has been brought on by the increasing consumption of junk food, tobacco, and alcohol. For instance, the World Health Organization (WHO) estimates that oral health issues affect 50% of the world's population. This aspect will likely increase mouth freshener usage, which is anticipated to boost the mouth freshener market size. Therefore, driving the mints market.

Breath sweeteners flavored with natural or synthetic mint oil with varied concentration is gaining traction. However, the use of botanical extracts in confectionery is high due to consumers' expectations for authentic products, as they want clean-labeled products without compromising on the taste. To preserve oral health and keep their teeth and gums healthy, most customers prefer sugar-free mints to chewing gum that occasionally contains ingredients like Xylitol, among other things, to help teeth whitening.

Companies are using uniquely-designed metal tins for their premium range of breath sweetener packaging to enhance the customer appeal of the product. The rising health consciousness among consumers is increasing the sales of sugar-free mint confectionery. For instance, according to the Mint Research Council, One-fourth of the mint oil produced in the USA is used to flavor dentifrices, while the remaining one-fourth is used to flavor chewing gum (toothpaste, mouthwash, etc.). In the liqueur, confectionery, medicinal, and aromatherapy industries, the remaining 10% is used for flavor.

Government regulations on various mouth fresheners, including gums, could limit industry expansion in certain regions. For instance, chewing gum cannot be purchased in Singapore unless it is on a doctor's prescription or from a licensed pharmacist. However, demand may be driven shortly by product innovation and consumer acceptance of various product versions.

Consumers worldwide are starting to read product labels more carefully as they become more aware of the ingredients in their products. Because of this, clean-label food ingredient businesses, especially those with a global presence, face considerable challenges. They must carefully select their component choices to get the optimum market positioning while adjusting for regional and cultural differences among nations. Component formulators have a substantial challenge to balance the ingredient mix and satisfy client preferences. Numerous problems, including shelf life and processing requirements, have grown due to the expansion of various products. However, they are unwilling to forego quality or authenticity in favor of shorter, more evident labels and simpler, authentic components.

The consumer preference toward organic confectionary, owing to the ingredients used, drives the consumers' decision. The use of botanical extracts in confectionery is high due to consumers' expectations for authentic products, as they want clean-labeled products without compromising on the taste. Mint and its derivatives, such as peppermint, spearmint, and menthol, are the main flavor choices in the tablet category of the confectionery market. Further, due to constant emphasis on clean-labeled products and stricter government regulations on the amount of sugar content in food products, organic, vegan, GMO-free, sugar-free, kosher food colors, sweeteners, and other ingredients are being used while manufacturing candies, which are likely to contribute to the growth of the category. In 2021, Neuro gum mints were launched at Whole Foods. These are vegan, free of sugar and gluten, and use only scientifically-backed and sustainable ingredients.

Due to the market participants' being active in meeting customer expectations by introducing various sorts of mints, including herbs and spices, and breath mints, the North American region is anticipated to have a sizable market share throughout the forecast period. In addition, those who smoke or drink alcohol more frequently are using mints and mouthwashes to cover up the scent. People who lead hectic lives and don't have time to practice good dental hygiene may also turn to mouthwash as a substitute.

The rising health consciousness among North American citizens is increasing the sales of sugar-free mint confectionery. This product posed healthy competition to the market studied, in the recent year, with the introduction of hybrid products composed of mint. The American consumer preference for mint confectionery remains high, compared to chewing gum, due to its oral benefit and low sugar content. An impulse purchase, convenient packing, and innovation in products with various flavors have fueled the growth of the market studied in the region. The major companies in this region are Mondelēz International Inc., Mars Incorporated, and Ferrero.

Further, There is an increase in demand for menthol and mint in the market. The fact that menthol is a common element in medications and cosmetics may be the primary factor driving menthol sales up. In this region, demand for the product is being driven by the introduction of ingredients including caffeine, ginseng, and guarana among others in gum, breath fresheners, and mints.

The key players in the region, such as Perfetti Van Melle, Mondelez International, Mars Incorporated, Nestle SA, and Hershey's, hold prominent shares in the mints market with a global presence and efficient distribution networks. The market studied is competitive, with many multinational players competing for the market share. New flavor innovation with attractive packaging is the primary strategy adopted by players. A company's growth in the mint market depends on its distribution channel and innovation in its product list with a lucrative packaging style.

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support