Overview and Scope
The mint essential oils market consists of sales of bergamot mint oil (mentha citrata) and pennyroyal oil (mentha pulegium). Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Sizing and Forecast
The mint essential oils market size has grown rapidly in recent years. It will grow from $11.55 billion in 2023 to $12.96 billion in 2024 at a compound annual growth rate (CAGR) of 12.2%. The growth in the historic period can be attributed to high awareness of natural products, increased use in traditional medicine, rising popularity in aromatherapy, expanded food and beverage industry, high demand in personal care products, improved agricultural practices, historical use in cultural rituals, early adoption in pharmaceuticals, advancements in extraction techniques, and increased global trade.
The mint essential oils market size is expected to see rapid growth in the next few years. It will grow to $12.4 billion in 2028 at a compound annual growth rate (CAGR) of 20.66%. The growth in the forecast period can be attributed to rising consumer preference for organic products, increasing disposable incomes, growing wellness trends, expanding e-commerce platforms, innovations in product formulations, rising popularity of DIY remedies, increasing application in household products, greater emphasis on sustainable sourcing, new regulatory approvals, and expanding middle-class population. Major trends in the forecast period include growing demand for organic mint essential oils, increased use in natural cosmetics, rising popularity of aromatherapy, expansion into new geographic markets, innovation in extraction methods, growth in direct-to-consumer sales, increasing application in food preservation, greater focus on ethical sourcing, advancements in packaging technologies, and rising trend of eco-friendly products.
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Segmentation & Regional Insights
The mint essential oils market covered in this report is segmented –
1) By Type: Citrus, Lavender, Rosemary, Tea Tree, Peppermint, Citronella, Other Types
2) By Distribution Channel: Business To Business, E-Commerce, Hypermarket And Supermarket, Other Retail Formats
3) By Application: Medical, Food And Beverages, Spa And Relaxation, Cosmetics, Toiletries, Fragrances, Cleaning And Home
Europe was the largest region in the mint essential oils market in 2023. The regions covered in the mint essential oils market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising demand for organic and natural products is expected to propel the growth of the mint essential oils market going forward. Organic products are produced and processed according to strict organic standards, emphasizing the use of organic ingredients and sustainable farming practices, while natural products, derived from natural sources, lack standardized regulations and may vary in ingredient quality and transparency. The rising demand for organic and natural products is driven by a combination of health consciousness, environmental concerns, and a desire for transparency and authenticity in product claims. Mint essential oils are used in organic and natural foods to enhance flavor and provide a refreshing taste while maintaining clean, natural ingredient profiles. Additionally, they offer potential health benefits, such as digestive aid and antimicrobial properties, aligning with consumer demand for natural wellness products. For instance, in June 2022, according to the Organic Trade Association (OTA), a US-based business association for the organic industry in North America, it was revealed that organic industry sales surpassed $63 billion, with $1.4 billion (2%) in total growth over the preceding year. Additionally, organic food, which accounted for over 90% of organic product sales, experienced 2% growth, reaching $57.5 billion. Therefore, rising demand for organic and natural products is expected to propel the growth of the mint essential oils market.
Key Industry Players
Major companies operating in the mint essential oils market are Doterra International LLC, Young Living Essential Oils LC, Synthite Industries Ltd., Frontier Co-op, Mountain Rose Herbs, The Lebermuth Company Inc., Vinayak Ingredients India Private Limited, Rocky Mountain Oils LLC, Ultra International B.V., NOW Foods, BMV Fragrances Pvt. Ltd., Plant Therapy LLC, Kama Ayurveda Pvt Ltd, Foodchem International Corporation, AOS Products Pvt. Ltd., Arora Aromatics Pvt. Ltd., Moksha Essentials Inc, Bhagat Aromatics Ltd, Essex Laboratories LLC, Hindustan Mint & Agro Products Pvt. Ltd., Edens Garden LLC, Aromaaz International Pvt Ltd, Kanta Chemical Co, Organic Infusions Inc.
The mint essential oils market report table of contents includes:
1. Executive Summary
2. Mint Essential Oils Market Characteristics
3. Mint Essential Oils Market Trends And Strategies
4. Mint Essential Oils Market – Macro Economic Scenario
5. Global Mint Essential Oils Market Size and Growth
…..
32. Global Mint Essential Oils Market Competitive Benchmarking
33. Global Mint Essential Oils Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Mint Essential Oils Market
35. Mint Essential Oils Market Future Outlook and Potential Analysis
36. Appendix
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