Peppermint oil market is estimated to grow at a steady pace while reporting a CAGR of 3.9% during the forecast period of 2017 – 2024. As per Fact.MR valuation, growing preference for complementary and alternative medicines and increasing reliance on natural remedies are few of the vital fillips responsible for the US$ 671 Mn market for peppermint oil by the end of 2024.
Recognition of peppermint oil as a GRAS product is another key factor responsible for the increasing adoption of peppermint oil across industries, particularly aromatherapy, F&B and therapeutics.
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According to Fact.MR study, aromatherapy, therapeutics and F&B industries will report considerable demand for peppermint oil during the forecast. Aromatherapy will continue to account for the highest demand while therapeutics is expected to follow the trail by 2024 end. Growing preference for complementary and alternative medicines is one of the prime factors identified which is responsible for generating greater demand for peppermint oil in aromatherapy and therapeutic applications.
Competitive Landscape
The competitive landscape section of the peppermint oil market provides the users with a concise list of the market players in the peppermint oil marketplace. Few of the profiled players in the peppermint oil market report are Plant Therapy Essential Oils, Lionel Hitchen Essential Oils, Green Fields Oil Factory, IL Health & Beauty Natural Oils Co. Inc., Aromaaz International, Aksuvital, Natures Natural India, Shaanxi Guanjie Technology Co., Young Living Essential Oils LC, Biolandes, Greenleaf Extractions Pvt Ltd, The Lebermuth Company, Synthite Industries Ltd., doTerra and Bio Extracts (Pvt) Ltd. are among the top companies operating in the global peppermint oil market.
The peppermint oil market is marked by manufacturers engaged in foraying new business ventures, procuring certifications and strengthening their R&D facilities. For example, in 2017, Synthite Group, a global provider of spices and essential oil ventured into the personal care segment and is likely to begin the production of soaps and hair oil. The Lebermuth Company has recently received a Safe Quality Food (SQF) certification which is expected to enhance consumer trust of Lebermuth’s fragrance and flavor ingredients. Another global leader in the peppermint oil market, doTERRA, recently inaugurated an Agriculture Laboratory in Nepal with an aim to contribute to strengthening agriculture education and increasing farmers’ access to advanced technology.
Following Questions Answers Covered in the Report are:
- How will the global Peppermint Oil Market perform during the forecast period? What will be the market size in terms of value and volume?
- Which segment will drive the global Peppermint Oil Market? Which regional market will show extensive growth in the future? What are the reasons?
- How will the market dynamics change because of the impact of future market opportunities, restraints, and drivers?
- What are the key strategies adopted by players to sustain themselves in the global Peppermint Oil Market?
- How will these strategies influence the market growth and competition?
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Regional analysis includes
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
- EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
- CIS & Russia
- Japan
- Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
- Middle East and Africa (GCC Countries, Turkey, Iran, Israel, South Africa , Rest of MEA)
The Report Covers Exhaustive Analysis On:
- Market Segments
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
Although the several world countries have started peppermint cultivation, it only satiates the local demand and fail to fill the broadening supply and demand gap. In addition, manufacturers in the supply chain face challenges of contaminated stock. The opaque nature of the peppermint supply chain is expected to hamper the future growth of the peppermint oil market through 2024.
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