Peppermint Oil Market Continues to Face Oligopoly in Supply Chain
The peppermint oil market landscape is dominated by exporters majorly concentrated in two countries - the United States and Canada. Increasing demand for peppermint oil, particularly in the mint flavored products in the confectionery market has led the bulk of peppermint exports from these two countries where the U.S. supplies over 70% of the global peppermint and spearmint. Access to raw materials continues to pose a challenge in the peppermint oil market leading to an opaque supply chain. Further, companies in the peppermint oil market continue to face challenges of adulteration and contamination of biomass stock. While national governments and international organizations recommend good agricultural practices to resolve current supply chain issues, pricing of the peppermint oil is dictated by a handful of peppermint oil market players.
Demand for Complementary and Alternative Medicines Propels Peppermint Oil Market
Essential oils, especially peppermint oil finds deep-rooted traditional applications in complementary healthcare. Recently, the popularity of complementary and alternative medicine (CAM) has gained significant momentum. Herbal remedies are usually combined with mainstream medical therapies to give rise an integrated medicine approach. According to the National Center for Complementary and Integrative Health (NCCIH), over 30% of adult Americans prefer complementary and alternative medicines. WHO states that up to 80% of the African population relies on traditional herbal medicine (THM). China also has reports about 40% penetration of THM in all the healthcare delivery. As modern consumers greatly rely on natural remedies and CAM, the fast-growing herbal medicines market is likely to bolster the demand for peppermint oil in the herbal healthcare products.
GRAS Tag Authenticates Use of Peppermint Oil across End-User Industries
Peppermint oil has received a GRAS (Generally Recognized as Safe) tag. Increasing importance of certification and FDA approvals across industries, particularly food and cosmetics, has transformed the global landscape of food and cosmetics manufacturing. In addition, ‘clean label’ trend has increased transparency regarding the ingredients used during the manufacturing process. Owing to the FDA approval of peppermint oil as a GRAS product, use of peppermint oil across end-user industries is well received.
Health Risks Continue to Confine Growth Prospects of Peppermint Oil Market
Despite holding a strong recognition in the therapeutics industry, peppermint oil has been rigorously discussed in the medical research community with regard to health risks posed by peppermint ingredients used in the cosmetics, food and therapeutic products. The Cosmetics Ingredients Review published in 2017 revealed safe use of peppermint oil in cosmetics under currently approved concentration. However, the safety assessment to be completely approved, additional validations for peppermint oil’s toxicological endpoint and skin irritation data are required. In addition, a considerable number of allergy incidences related to peppermint cosmetics has been reported since 2000.
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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.
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Peppermint oil is extracted from the peppermint plant which is a hybrid mint of watermint and spearmint. Peppermint oil contains high concentrations of menthone and pulegone that have natural pesticide characteristics. Along with its well-known cooling effect, peppermint oil is studied for its carminative effect and short-term treatment of irritable bowel syndrome and other minor ailments.
About the Report
Fact.MR has compiled a study of the peppermint oil market and published a report titled, “Peppermint Oil Market Forecast, Trend Analysis & Competition Tracking: Global Market insights 2017 to 2022”. The peppermint oil market report delivers a comprehensive analysis of the peppermint oil market which includes a thorough assessment of prevailing trends in the essential oil industry, future opportunities, market drivers and challenges are covered.
Additional Questions Answered
In addition to the aforementioned key insights of the peppermint oil market, the report also covers other vital facets that hold prominent influence in transforming the global landscape of the peppermint oil market during the forecast period 2017 – 2022.
- How is the changing legislation regarding the use of natural ingredients in the F&B and therapeutics industries impacting the peppermint oil marketplace?
- Which will be leading region in the peppermint oil market during the forecast period?
- Amid the growing demand for peppermint oil, which will be the most preferred distribution channel during the forecast in the peppermint oil market?
Fact.MR has compiled a study on the peppermint oil market and published a report titled “Peppermint oil Market Forecast, Trend Analysis & Competition Tracking: Global Market insights 2017 to 2022”. The market analysis is backed by an in-depth assessment of the prevailing trends in the essential oil landscape, key market drivers, restraints and future growth opportunity in the peppermint oil market. The report offers thorough assessment of historical data and current dynamics of the peppermint oil market. The report estimates that the peppermint oil market is foreseen to grow at a steady pace during the forecast period.
To deliver a seamless understanding of the peppermint oil market, the report is divided into a total of 18 chapters. A snapshot of all the chapters of the peppermint oil market is provided below.
Chapter 1 – Executive Summary
The peppermint oil market report begins with the chapter of executive summary that delivers quick and informative insights of the peppermint oil market. Highlighted values of CAGR enables users to fathom the course of the market progress throughout the forecast period.
Chapter 2 – Market Overview
The market overview chapter of the peppermint oil market report offers market taxonomy, market definition, market dynamics, an in-detailed information on the supply chain, cost structure, pricing analysis, raw material sourcing strategy and key stakeholders in the peppermint oil market.
Chapter 3 - Global Peppermint oil Market Analysis and Forecast By Source Type
This chapter of the peppermint oil market report delivers information on the market segmentation categorized based on source type that includes natural and organic peppermint oils.
Chapter 4 - Global Peppermint oil Market Analysis and Forecast By Form Type
This chapter of the report provides information regarding the peppermint oil market segmentation categorized based on form type. Market size and forecast value assessment for every peppermint oil forms such as absolute, concentrates and blends are provided in the chapter.
Chapter 5 - Global Peppermint oil Market Analysis and Forecast By Application
Peppermint oil market segmentation based on applications is covered in this chapter where market performance of the multiple peppermint oil applications is discussed.
Chapter 6 - Global Peppermint oil Market Analysis and Forecast By Distribution Channel
This chapter of the report delivers the information on the various distribution channels present in the peppermint oil market and their prevalence and relative preference.
Chapter 7 - Global Peppermint oil Market Analysis and Forecast By Region
This chapter discusses the peppermint oil market analysis for six regions including North America, Latin America, Europe, Japan, APEJ and MEA.
Chapter 8 - North America Peppermint oil Market Analysis and Forecast, By Country, 2012-2022
Market analysis for the North America region has been discussed. Country-wise market study of the U.S. and Canada forms the basis of the regional market forecast of the North America peppermint oil market.
Chapter 9 - Latin America Peppermint oil Market Analysis and Forecast, By Country, 2012-2022
Latin America peppermint oil market analysis is offered in this chapter where the country-wise analysis of the market is carried out for Brazil, Mexico and Argentina.
Chapter 10 - Europe Peppermint oil Market Analysis and Forecast, By Country, 2012-2022
The peppermint oil market performance in the Europe region is discussed. Country-wise market performance for Germany, the UK, France, Spain, Italy and Nordic is included in this chapter.
Chapter 11 - Japan Peppermint oil Market Analysis and Forecast, By Country, 2012-2022
The Japan peppermint oil market performance derived from the assessment of the historical data and prominent market trends prevailing in the country is delivered.
Chapter 12 - APEJ Peppermint oil Market Analysis and Forecast, By Country, 2012-2022
The APEJ peppermint oil market analysis is delivered in this chapter. Country-wise analysis is carried out for China, India, Malaysia, Thailand, Singapore and Australia to deliver the peppermint oil market outlook for the APEJ region.
Chapter 13 - MEA Peppermint oil Market Analysis and Forecast, By Country, 2012-2022
This chapter elaborates on the market analysis in the Middle East and Africa region. Market analysis of GCC countries, South Africa, Nigeria and Israel has been carried out to derive market forecast values of the MEA peppermint oil market.
Chapter 14 - Global Peppermint oil Market
Company/Manufactures/Distributors/Suppliers Profile and Revenue Projections
This chapter provides a comprehensive list of key market players in the peppermint oil market. The key companies have been categorized among manufacturers, distributors and suppliers to fathom the complete scenario of key companies and their relative market positions.
Chapter 15 - Research Methodology
The chapter elaborates on the methodology of research followed during the course of the study of the peppermint oil market.
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