Mint Essential Oils Market Share, Size, Trends, Industry Analysis Report, By Application (Medical, Food & Beverages, Spa & Relaxation, Cleaning & Home); By Region; And Segment Forecasts, 2024 - 2032
- Published Date:Mar-2024
- Pages: 115
- Format: PDF
- Report ID: PM4399
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
The global mint essential oil market was valued at USD 1,020.76 million in 2023 and is expected to grow at a CAGR of 9.7% during the forecast period.
The expansion of end-use industries, including aromatherapy, personal care & cosmetics, pharmaceuticals, & food & beverage, drives this growth. The increasing demand for mint essential oils in these sectors is expected to contribute to the overall market expansion during the forecast period. Aromatherapy, driven by the growing interest in natural and holistic wellness practices, is a key contributor to the demand for mint essential oils. These oils are widely used in aromatherapy for their refreshing and invigorating properties. In the personal care & cosmetics industry, mint essential oils are valued for their aromatic properties and potential skin benefits. They are often incorporated into skincare and cosmetic products for their pleasant fragrance and potential therapeutic effects.
To Understand More About this Research:Request a Free Sample Report
The increasing trend of urbanization, combined with the pervasive impact of social media, has contributed to the growing popularity of natural plant extract-based healing treatments, particularly in spa and aromatherapy practices. This trend has significantly boosted the penetration of products within the stress-relieving spa and aromatherapy application segments. Urbanization often brings about a fast-paced and stressful lifestyle, leading individuals to seek holistic and natural remedies for relaxation and well-being. Natural plant extracts, including essential oils derived from plants, are known for their therapeutic properties, and they play a vital role in stress relief and relaxation.
Spa and aromatherapy services have become increasingly popular as people look for ways to unwind and address the challenges of urban living. Aromatherapy involves the use of aromatic plant extracts, such as essential oils, to promote physical and psychological well-being. These natural scents are believed to have various therapeutic effects, including stress reduction, improved mood, and relaxation. Social media platforms have played a crucial role in disseminating information about the benefits of natural plant extracts and promoting holistic well-being practices. Influencers, wellness experts, and beauty professionals often share content related to the use of essential oils in spa treatments and aromatherapy, creating a heightened awareness among consumers.
Industry Dynamics
Growth Drivers
- Mint essential oils flourish in pharmaceutical and food & beverage sectors
The pharmaceutical industry also plays a role in the market's growth, as mint essential oils are known for their potential health benefits. They may be utilized in pharmaceutical formulations for their medicinal properties. Additionally, the food & beverage industry is a significant consumer of mint essential oils, especially in the production of beverages, confectionery, and culinary products. Mint flavors are popular and widely used in various food applications. Technological advancements in oil extraction methods contribute to increased production efficiency, helping meet the rising demand for mint essential oils. Innovative extraction techniques enhance the quality and quantity of oil obtained from mint plants, positively influencing mint essential oil market growth.
Report Segmentation
The market is primarily segmented based on application, and region.
|
By Application |
By Region |
|
|
To Understand the Scope of this Report:Speak to Analyst
By Application Analysis
- Spa & relaxation segment accounted for the largest market share in 2023
The spa & relaxation segment accounted for the largest revenue share of the market in 2023. The utilization of mint essential oils in personal care items goes beyond providing a pleasant scent; it enhances the overall sensory experience for consumers. The invigorating and refreshing properties of mint make it a popular choice for products associated with spa treatments and relaxation practices. The aromatic qualities of mint essential oils complement the soothing ambiance of spas and contribute to a calming environment, aligning with the relaxation needs of consumers.
In addition to their aromatic contributions, mint essential oils may also offer potential therapeutic benefits, such as promoting a sense of freshness and rejuvenation. These characteristics make mint essential oils desirable for incorporation into spa-related products, contributing to their popularity within the segment.
As consumers increasingly seek holistic well-being and sensory indulgence in their personal care routines, the demand for products enriched with mint essential oils is expected to grow. The anticipated expansion of the spa and relaxation segment reflects the ongoing trend of incorporating natural and aromatic ingredients into self-care and pampering rituals. Mint essential oils, with their versatile applications and appealing fragrance, are poised to play a significant role in shaping the future of this segment.
Beyond their presence in personal care and cosmetics, mint essential oils play a significant role in the domain of natural plant extract-based healing treatments, particularly in the field of aromatherapy. As the demand for natural and organic alternatives continues to rise, mint essential oils are expected to maintain their significance in enhancing the formulations of hygiene products and contributing to the expanding field of aromatherapy.
The food & beverage segment will grow rapidly over the market forecast period. This growth is primarily owing to their minty aroma and flavor, making them popular additions to various food and beverage products. Additionally, the incorporation of therapeutic benefits associated with mint essential oils in consumables has contributed to an increased demand for these products. The antioxidant and anti-microbial properties of mint essential oils are expected further to enhance their application in the food and beverage industry, fostering continued growth in this sector.
Regional Insights
- Europe region dominated the global market in 2023
Europe region dominated the global market and is likely to hold its dominance over the market forecast period. The region's robust growth is primarily attributed to the well-established industries, including personal care and cosmetics, as well as flavors and fragrances. Over the forecast period, the growth of these key end-use industries is expected to drive regional expansion. Europe benefits from the presence of several economically developed nations and higher standards of living, contributing to the thriving market. Additionally, the significant consumer preference for products based on natural ingredients is anticipated to stimulate demand in the region further.
Furthermore, the existence of regulatory entities in Europe, such as the European Federation of Essential Oils (EFEO), has played a significant role in fostering market growth. EFEO actively advocates for and safeguards the interests of stakeholders throughout the value chain. It is actively engaged in discussions with the EU Parliament and EU Commission to propose amendments or introduce legislation concerning essential oils. These regulatory developments are contributing positively to the expansion of the market.
North America will grow at a substantial pace. Growth is due to growing awareness of the health advantages associated with mint essential oils, an escalating preference for aromatherapy & natural remedies among consumers, and an increasing demand for organic & natural products.
Key Market Players & Competitive Insights
The market is characterized by significant fragmentation, featuring numerous major market participants. Factors such as vertical integration for raw material sourcing, manufacturing, and distribution, along with heightened competition for technological advancements, are contributing to the market's expansion.
Some of the major players operating in the global market include:
- H. Reynaud & Fils
- FLAVEX Naturextrakte GmbH
- India Essential Oils
- Sydney Essential Oil Company
- Moksha
- Rocky Mountain Oils, LLC
Recent Developments
- In August 2023, Zed Black has launched Orva Naturals, a new collection of pure essential oils, featuring 6 variants, including peppermint oil.
- In June 2023, ACTIZEET has introduced a groundbreaking range of Pure Essential Oils in India. This new collection offers a diverse array of options to cater to the varied needs and preferences of consumers. The lineup includes offerings such as calming lavender, invigorating eucalyptus, revitalizing peppermint, and soothing rose.
Mint Essential Oils Market Report Scope
|
Report Attributes |
Details |
|
Market size value in 2024 |
USD 1116.81 million |
|
Revenue forecast in 2032 |
USD 2338.82 million |
|
CAGR |
9.7% from 2024 – 2032 |
|
Base year |
2023 |
|
Historical data |
2019 – 2022 |
|
Forecast period |
2024 – 2032 |
|
Quantitative units |
Revenue in USD million and CAGR from 2024 to 2032 |
|
Segments covered |
By Application, By Region |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
|
Customization |
Report customization as per your requirements with respect to countries, region and segmentation. |
FAQ's
Mint Essential Oil Market Size Worth $ 2338.82 Million By 2032 .
The top market players in Mint Essential Oils Market include H. Reynaud, FLAVEX Naturextrakte, India Essential Oils
Europe region contribute notably towards the Mint Essential Oils Market.
The global mint essential oil market is expected to grow at a CAGR of 9.7% during the forecast period.
Mint Essential Oils Market report covering key segments are application, and region
© 2024 Polaris Market Research and Consulting. All rights reserved
