The latest market report, titled ‘Peppermint Oil Market: Global Industry Analysis (2013-2017) and Forecast (2018-2027)‘ by Persistence Market Research (PMR), gives key insights on the global peppermint oil market. In terms of value, the global peppermint oil market is expected to register a healthy CAGR of 5.2% during the forecast period, with various forecasting parameters, regarding which, PMR gives important market insights in detail.
Factors such as increase in the demand for natural and organic additives in food and beverages as well as cosmetics products, increasing health concerns, and stature of aromatherapy are driving the global peppermint oil market. The food and beverages segment holds a major share in the peppermint oil market, due to an increase in the demand for natural flavors in food and beverages. Refreshing peppermint flavor is high in demand, and thus, is used in various beverages and confectionaries. Peppermint oil is used in the production chewing gum, candies, sweets, and ice cream, as well as in tea and liquor. Peppermint oil also serves as a natural preservative, owing to its anti-bacterial activity.
Increasing Stature of Aromatherapy
The use of peppermint oil is expected increase robustly in aromatherapy. Aromatherapy is the use of aromas from substances such as natural essential oil for relaxation and rejuvenation, as well as for the treatment some minor health issues. Peppermint oil is known to reduce anxiety and restlessness, as well as boost memory and improve alertness. Peppermint oil is also used as a painkiller as well to comfort stress and relax the nervous system, and hence, is preferred by consumers in aromatherapy. The demand for peppermint oil is increasing as a convenient, harmless, and natural alternative to synthetic chemicals that are used in perfumers, massages, showers, etc. The popularity of aromatherapy is increasing among the urban population, especially in the working population. The increasing stature of aromatherapy is a vital driving factor for the peppermint oil market.
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Application of Peppermint Oil in Personal and Home Care Products
Changes in lifestyles and increase in disposable income, as well as rise in awareness among people about personal care have increased the use of home and personal care products. Peppermint oil is perfect for use in various home care products such as cleaners and room fresheners, as it is good solvent, exhibits anti-bacterial activity, and has an energizing fragrance. Peppermint oil is used in oral care products such as toothpastes and mouth fresheners, as well as in personal care products such as lip balms, shampoos, soaps, moisturizers, etc., for its flavor, fragrance, cooling, and brightening effects on the skin. The increasing use of aromatic products like peppermint oil in home and personal care products is expected have a good impact on the peppermint oil market.
Asia Pacific Expected to Dominate the Global Peppermint Oil Market
The Asia Pacific region currently leads the peppermint oil market, and is expected to dominate it during the forecast period. Asia Pacific is a developing economy, and has an increasing number of cosmetic and food processing companies. There rising preference of consumers for natural additives, besides favorable government policies, and increased application of peppermint oil in cosmetics as well as home care products. The increasing popularity of aromatherapy in countries such as China and Japan has also fuelled the peppermint oil market. Owing to India and China being major producers and consumers of peppermint oil, the Asia Pacific region is expected to witness a high growth rate during the forecast period.
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Key Manufacturers of Peppermint Oil
This report puts light on the trends and opportunities in each segment, and gives insights and detailed analysis on the growth of the global peppermint oil market. In the final section, the report gives a competitive landscape of current key players in peppermint oil manufacturing. Company profiles also give the key offerings, short- and long-term strategies of manufacturers, and recent developments in the peppermint oil space.
Global Peppermint Oil Market: Competition Dashboard
PMR has profiled some of the key players in the global peppermint oil market, such as doTERRA International, Young Living Essential Oils, LLC, Ultra International Ltd, Melaleuca Inc., Treat PLC, Kama Ayurveda, Plant Theraphy Essential Oils, NOW foods, Lebermuth Inc., Mountain Rose Herbs, Bhagat Aromatics Limited, Vigon International, AOS Products, Stan Chem International, Garden of Life, NecLife, and Nature’s Way Products.