Jul 31, 2017
Key Takeaways from Fact.MR’s Projection on Peppermint Oil Market
by Team Fact.MR
Peppermint oil is extracted through distillation of peppermint leaves or stems. Traditionally, the oil has been extensively used as an alternative or herbal medicine. Therapeutic benefits of the product has led to development of a slew of new medicinal items. In the recent years, demand for peppermint oil products has surged to a significant extent. These products are used for soothing muscle pain, sinus, headache, cold and stimulating body metabolism among others. In addition, the oil finds widespread application in oral care product manufacturing because of its cooling properties and ability to tranquilize toothache, moreover, it remains a key ingredient in mouth freshener products. Also, peppermint oil is used in preparation of flavoring agents. In many occasions, it is added in various processed food items as a natural food additive. Among its other usage, the product is considered as an essential aromatherapy ingredients, which can help stimulate and relax the human body. Owing to a positive outlook of its role in maintaining a healthy skin tone, various skincare products are available in the market with peppermint oil content as well. As per the latest Fact.MR report, the global peppermint oil market will ride at CAGR of 3.9% over the forecast period (2017-2022).
Following are the important takeaways from Fact.MR’s report on the global market for peppermint oil.
- Europe is anticipate to command for the predominant revenue share of the global market during the forecast period, riding at a steady CAGR. This is mainly attributed to increasing popularity of essential oils in Europe. Also, increasing awareness about the countless health benefits of herbal or natural products is favoring the growth of the market in the region. Meanwhile, sales of peppermint oil has also witnessed a healthy uptick in Asia-Pacific excluding Japan (APEJ) region, especially in countries such as India and China.
- Natural peppermint oil will continue to have an upper hand over the organic variant throughout the assessment period as the former is projected to account for a staggering 66% market share in terms of revenue over 2022. Over US$ 442 Mn worth natural peppermint oil is likely to be sold worldwide over the next five years.
- Based on form, the absolute segment is currently commands for nearly 44% share revenue share of the market. In addition, this segment will remain highly attractive in 2017 and beyond, due to high product quality and purity.
- The increasing application of pepper min oil in cosmetics, food & beverages, toiletries, therapeutics manufacturing is anticipated to boost the growth of the global market for peppermint oil in the near future.
Key players profiled in Fact.MR’ report include doTerra, Bio Extracts (Pvt) Ltd., Lionel Hitchen Essential Oils, IL Health & Beauty Natural Oils Co. Inc., Aksuvital, Shaanxi Guanjie Technology Co., Greenleaf Extractions Pvt Ltd, Green Fields Oil Factory, Natures Natural India, Plant Therapy Essential Oils, Young Living Essential Oils LC, The Lebermuth Company, Aromaaz International, Synthite Industries Ltd. and Biolandes.