Spearmint oil is used in the treatment of internal wounds, respiratory problems, and indigestion. Healthcare and therapeutic industry also witnesses a considerable demand for spearmint oil. The global spearmint oil market is likely to witness a steady growth attributed to substantial demand in the healthcare and therapeutic industry.
Expansion of online channels will impact growth of the global market. The global spearmint oil market is expected to register a moderate CAGR growth, and will represent a market value of US$ 454.4 Mn in 2022.
Healthcare Industry to Witness Significant Demand
Application of spearmint oil extends beyond the food industry. Attributed to various health-related benefits, this oil witnesses an upsurge in demand for treating indigestion, common cold, and respiratory problems.
Spearmint oil is also used as a disinfectant for protecting and healing internal wounds in intestines, stomach, and food pipeline. Manufacturers operating in the healthcare industry witness significant demand for spearmint oil attributed to the antispasmodic and antiseptic qualities.
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Consumption in the Personal Care Industry
Spearmint oil is used in production of mosquito repellant and fumigants attributed to the anti-inflammatory properties.
Apart from its use an insecticide, spearmint oil is also used to soothe itching, swelling, inflamed skin and redness. Due to such factors, manufacturers producing personal care products witness a considerable demand for spearmint oil.
Aromatherapy to Boost Growth of the Global Market
Use of spearmint oil is not only limited to healthcare and personal care industries. Attributed to restorative fragrance and revitalizing properties, spearmint oil is increasingly used in aromatherapy.
Manufacturers operating in the therapeutic industry witness considerable demand for the production of essential oils. Such factors are likely to contribute towards the growth of the global spearmint oil market significantly.
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Considerable Consumption among Cosmetic Manufacturers
Rich antiseptic and anti-oxidant qualities of spearmint oil is predicted to extend its application in the cosmetic industry. Spearmint oil is increasingly used for reducing skin imperfections and wrinkles.
Application of this oil also increases elasticity and resilience of skin. Bound to such factors, spearmint oil is witnessing considerable demand among cosmetic manufacturers.
On the other hand, consumption of spearmint oil by pregnant women could adversely affect their health attributed to its emenagogue properties. Moreover, availability of substitute products is likely to impact demand for spearmint oil in various industries negatively. Such factors are predicted to inhibit growth of the global spearmint market during the predicted period.
Therapeutic Industry to Register Significant Growth
Natural spearmint oil will outsell organic spearmint oil, and will represent a value of over US$ 120 Mn by 2022 – end. Europe will remain the largest market for spearmint oil globally. Natural spearmint oil among other products is expected to reflect the highest CAGR in the global spearmint oil market throughout 2022.
Absolute spearmint oil is likely to remain the most attractive segment among other forms, and will represent a value of more than US$ 60 Mn in 2017. This segment will register the highest CAGR in the global spearmint market, followed by blends form.
Therapeutics among other application segments will register the highest CAGR growth, followed by food and beverages industry. However, food and beverages will witness the highest growth in terms of revenues, representing a value of more than US$ 30 Mn by the end of 2022.
Online channel of distribution will register the highest CAGR growth in the global market, followed by franchise outlets. Modern trade among other distribution channels will witness significant growth in terms of sales by the end of 2022. Sales of spearmint oil through modern trade is predicted to reach over US$ 50 Mn by 2022 – end.
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Companies such as
- Aromaaz International
- DoTERRA International
- Lionel Hitchen Essential Oils
- Plant Therapy Essential Oils
- Synthite Industries Ltd.
- The Lebermuth Company Inc
- Young Living Essential Oils
- Green Fields Oil Factory
- IL Health and Beauty Natural Oils Co. Inc
are anticipates to remain active in the expansion of global spearmint oil market.
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(Additional information, including cross-sectional data and country-wise analysis & forecast is available in the report)
A recently published report by Fact.MR offers comprehensive perspective on the global spearmint oil market across various regions. Growing need for treatment of infections, internal wounds, respiratory problems, and indigestions will impact growth of the global spearmint oil market significantly.
Spearmint oil will witness significant demand among the manufacturers operating in the therapeutic and healthcare industry. The report focuses on detailed insights and research about global spearmint oil market for the forecast period 2017 to 2022.
The prime focus of Fact.MR’s report is to provide readers with an unbiased and accurate analysis of current market status of spearmint oil, along with future growth estimations.
Spearmint oil producers, suppliers, and distributors in the global market will benefit from the insights offered in this report. A detailed discussion guide has been formulated in this report, which can attract the interest of top trade magazines and journals related to spearmint oil.
The report commences by providing an executive summary, market dynamics and market taxonomy, underlining the factors which influence growth of the global spearmint oil market.
This executive summary offers the foundation on which the report is based, providing users with scope of the report. The executive summary contains key statistics and facts impacting the global spearmint oil market.
This section offers a detailed view of the global spearmint oil market, comprising the market introduction, along with the standard definition of the product – sunflower oil.
Market value, as well as the year-over-year expansion, is offered to readers in this section. Y-o-Y growth enables readers to view broader aspects of growth patterns during the forecast period.
This section also details the drivers, restraints, opportunities, and key trends influencing the market growth based on perspectives of macroeconomic, demand, and supply sides.
Impact analysis of the weighted average model-based expansion drivers is included in the report for the provision of better decision-making insights to clients.
To offer readers with latest information about advancements in the global spearmint oil market, updates about opportunities benefitting leading spearmint oil producing companies are offered in the report.
Continuous evolution of the food & beverages sector necessitates keeping record of upcoming and recent developments and trends which are fundamental for spearmint oil producers to formulate and adopt key business strategies. The detailed analysis pertaining to list of distributors, pricing analysis, raw material sourcing, cost structures, and supply chain are offered in this section.
By considering the global spearmint oil market, and provide an in-depth analysis, Fact.MR’s report offers segment-wise analysis and forecast.
The spearmint oil market is categorized on the basis of product type, process, application and region. Segmentation analysis offered is comprehensive, along with the detailed country-wise forecast offered on all parameters.
The report’s last section emphasizes on the competitive landscape of the global spearmint oil market, providing readers with the dashboard of company analysis as well as the market players. Competitive intelligence provided by the report is based on providers’ categories in the value chain, and their presence in the global spearmint oil market.
Fact.MR is committed to offer unbiased and independent market research solutions to its clients. Each market report of Fact.MR is compiled after months of exhaustive research.
We bank on a mix of tried-and-tested and innovative research methodologies to offer the most comprehensive and accurate information. Our main sources of research include,
- Primary research
- Secondary research
- Trade research
- Focused interviews
- Social media analysis
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