Peppermint Oil Market
Peppermint Oil Market Analysis by Absolute, Concentrated, and Blended Forms from 2023 to 2033
Analysis of Peppermint Oil Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Peppermint Oil Market Outlook (2023 to 2033)
The global peppermint oil market is valued at US$ 236 million in 20923 and is forecasted to expand at 6.5% CAGR over the next ten years (2023 to 2033). Global peppermint oil demand is estimated to reach a market value of US$ 445 million by 2033-end.
Peppermint oil is extracted from a hybrid plant 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. Demand for peppermint essential oil is estimated to increase influentially over the coming years as awareness regarding its health benefits rises among the general population.
Important Peppermint Oil Benefits
- Relieves headaches
- Natural painkiller
- Promotes hair growth
- Soothes itching
- Alleviates anxiety
- Improves memory
- Boost immunity
Surging popularity of aromatherapy, rising use of peppermint flavour in the food industry, increasing disposable income, and high preference for plant-based products are other factors that promote market growth. High investments in research to uncover the benefits and health effects associated with peppermint oil use are also estimated to open new avenues of opportunity for growth through 2033.
- As per a study published in the BMJ Supportive & Palliative Care journal, the use of essential peppermint oil aromatherapy could help relieve pain for people who have undergone open heart surgery and might also help them improve their sleep quality.
Rising cases of alopecia are also estimated to boost the use of peppermint oil for hair growth across the study period. Growing aesthetic awareness and rising demand for organic and natural ingredient personal care are projected to promote the use of peppermint oil for acne treatment.
- In May 2023, Everyone for Every Body, a personal care brand, announced the launch of six new hair care products made from high-quality non-GMO ingredients. Some of the products launched have been scented with peppermint essential oil and tea tree essential oil.
|Peppermint Oil Market Size (2023)
|US$ 236 Million
|Projected Market Value (2033F)
|US$ 445 Million
|Global Market Growth Rate (2023 to 2033)
|North America Market Share (2023)
|Key Companies Profiled
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What Do Peppermint Oil Manufacturers Need to Watch Out For?
“Presence of Oligopoly in Supply Chain Major Growth Limiting Factor”
The presence of oligopoly is the prime aspect that is inhibiting the growth scope of the peppermint oil industry. Europe and the United States are home to major exporters and producers of peppermint oil, which limits the participation of other regions in the global market and impedes growth scope. Furthermore, the lack of raw materials required to produce peppermint oil is also anticipated to hurt market development in the long run.
Despite holding a strong recognition in the therapeutics industry, peppermint oil has been rigorously discussed in the medical research community about the health risks posed by peppermint ingredients used in different industry verticals such as cosmetics, food & beverages, pharmaceuticals, etc.
How Does This Report Characterize the North American Market?
“United States and Canada Control Global Peppermint Oil Supply Chain”
The United States accounts for a dominant share in the North American region in terms of peppermint oil volume and is projected to maintain a similar stance across the study period. Increasing demand and acceptance of mint-flavored products in the country is estimated to contribute to high demand.
- In January 2018, Sonoma Syrup Co., a renowned provider of artisanal drinks and extract blends, announced the launch of its Peppermint Simple Syrup. The product launch took place at the Winter Fancy Food Show held in San Francisco, California, and intended to benefit from America’s love of seasonal flavours.
Meanwhile, Canada also accounts for a prominent share of the North American regional marketplace, which makes it a lucrative space for peppermint oil suppliers in the long run.
- Sales of peppermint oil in North America account for around 35% of the global market share at present.
Presence of renowned peppermint oil manufacturers and the high amount of exports of the same are also extrapolated to open up new frontiers of market development in the aforementioned countries. Moreover, the surging awareness regarding the health benefits of peppermint oil is pushing pharmaceutical companies to use it in their drug formulations. Peppermint oil for nausea and peppermint oil for muscle pain are projected to be popular in the North American region.
- In July 2023, Loving Essential Oils, a provider of essential oils based in the United States, announced the launch of a new roller blend for pain and nausea relief. The product features a mix of ginger and peppermint oil.
Learn more about all major and minor regions with details of aspects such as local supply, pricing trends, product standards, safety regulations, and new developments in this peppermint oil market research analysis by skilled analysts at Fact.MR, a market research and competitive intelligence provider.
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Apart from the United States and Canada, peppermint oil suppliers can target India, China, Japan, Germany, and the United Kingdom to bolster their global market presence and improve their sales potential as well.
How Will Sales of Peppermint Oil Fare in China?
“High Demand for Traditional and Alternative Medicine”
Growing awareness regarding the ill effects of modern medicine and pharmaceuticals on human health is pushing people in China to opt for alternative and traditional medicines. Chinese traditional medicine has been around for centuries and involves the use of medicinal herbs and essential oils to treat various health conditions.
Rapid urbanization has led to stressful lives and the people of China are turning to aromatherapy for relief, which is also anticipated to promulgate sales of peppermint oil in the country over the next ten years. The high use of peppermint oil in the manufacturing of different products such as cosmetics, pharmaceuticals, nutritional supplements, and personal care products in China is also slated to open up new avenues of opportunities for established as well as new peppermint oil vendors through 2033.
Will European Countries Be Lucrative Markets for Peppermint Oil Companies?
“Market to Benefit from Expansion of Cosmetic Industry and Preference for Clean-label Ingredients”
Europe is home to some of the most renowned cosmetic and personal care brands in the world and increasing adoption of peppermint essential oil in their products is slated to be the prime prospect driving market growth through 2033. A high focus on sustainability and eco-consciousness has given impetus to the clean-label trend in European countries such as the United Kingdom, France, and Germany.
Evolving consumer preferences are further promoting sales of peppermint oil products in this region. The growing popularity of aromatherapy and its benefits is also anticipated to boost the consumption of peppermint oil going forward.
The trend of living clean with plant-based products is projected to uplift the sales of organic peppermint oil over the coming years. This Fact.MR research has studied the market based on source, form, application, method of extraction, and region.
Where Will Majority of Peppermint Oil Be Sourced From?
“Organic Peppermint Oil Demand to Drive Market Growth”
Growing awareness regarding the benefits of organic ingredients and the rising popularity of plant-based products is projected to bolster shipments of organic peppermint oil over the coming years. Increasing use of organic ingredients in cosmetics and personal care products is also projected to influentially boost demand for organic peppermint oil throughout the study period.
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Leading peppermint oil providers are expanding their product portfolio by launching novel products to improve their sales and revenue generation potential.
- In February 2023, Zed Black, a renowned manufacturer of fragrance products in India, announced the launch of its new range of essential oils. The new exquisite range was labelled as ‘Orva Naturals’ and launched for Valentine’s season to kindle feelings of excitement and romance.
- In October 2021, Alo, a leading provider of Yoga clothing and accessories, announced the launch of a new range of essential oils to take the relaxation experience to a whole new level. Two of these six products contain peppermint as an ingredient.
Prominent peppermint oil suppliers are focusing on expanding their business operations in new countries and regions to improve their market share on a global scale.
- In June 2022, doTERRA, a world leader in the essential oils marketplace, announced the commencement of its expansion in South America with a new office in Chile. The company plans to capitalize on the changing consumer landscape of the region.
Key Segments of Peppermint Oil Industry Research
By Source :
By Form :
By Method of Extraction :
- Carbon Dioxide Extraction
- Cold Press Extraction
- Solvent Extraction
By Application :
- Food & Beverages
- Cleaning & Home
By Region :
- North America
- Latin America
- FAQs -
What is the market size of peppermint oil in 2023?
The global peppermint oil market stands at a value of US$ 236 million in 2023.
How big will the peppermint oil market be by 2033?
By 2033-end, peppermint oil sales are forecasted to reach US$ 445 million.
What is the projected CAGR for the peppermint oil market?
Peppermint oil sales are projected to increase at 6.5% CAGR from 2023 to 2033.
Where will peppermint oil demand be the highest?
North America accounts for 35% of the global market share in 2023.
Who are the key players in the peppermint oil market?
Aromaaz International, Aksuvital, Nature’s Natural India, Shaanxi Guanjie Technology Co., and Young Living Essential Oils LC are leading manufacturers of peppermint oil.