Pennyroyal Oil Market: Introduction
Pennyroyal oil, also known as squaw mint, is an herbal extract derived from leaves of the plant called Mentha pulegium, a species from the Lamiaceae family or mint family. It has minty aroma when crunched and hence, has extensive usage in the flavor and fragrance industry. Pennyroyal oil finds applications as a flea repellent, for fragrance in detergents, soaps, and perfumes, and in skin applications. Pennyroyal oil is the most toxic and concentrated form of pennyroyal plant. It contains 80% - 90% of cyclohexanone pulegone, a molecule with the highest concentration of pennyroyal plant. Pennyroyal oil is highly toxic, and its usage has caused severe illness, liver failure, and death. It has been reported that pennyroyal oil was consumed by women to accelerate menstruation and abortion. The global pennyroyal oil market has witnessed a healthy CAGR in the forecast period, owing to the rise in the flavors & fragrance industry.
Pennyroyal Oil Market: Market Dynamics
A key driving factor for the growth of the pennyroyal oil market is its widespread usage in the flavors & fragrance industry. The global flavor & fragrance industry, including essential oils, natural extracts, and aroma chemicals accounted for ~ US$ 30 Billion in 2018, and is growing at a rate of ~ 4.4% globally. The increasing consumer preference for natural products drives the value market growth of pennyroyal oil, as natural ingredients tend to be expensive. Rapidly rising incomes, urbanization, and middle-class population are spurring the growth of home & personal care products, contributing to pennyroyal oil market growth. Moreover, increased usage of pennyroyal oil in growing economies and ongoing research & development activities on the extraction process have brought immense opportunities for the global pennyroyal oil market to grow for long-term. However, adverse effects of pennyroyal oil such as liver & kidney damage, stomach pain, nausea, vomiting, seizure, etc., have dampened the global pennyroyal oil market growth. Also, government regulations and environmental conditions affect the growth of the pennyroyal oil market globally.
Pennyroyal Oil Market: Segmentation
The global pennyroyal oil market is segmented on the basis of end use and region.
Based on end use, the global pennyroyal oil market is segmented as:
- Flavor & Fragrance
- Edible Oil Industry
The flavor & fragrance industry segment in the global pennyroyal oil market holds the largest market share. However, cosmetic is a booming end-use segment in the global pennyroyal oil industry.
Based on region, the global pennyroyal oil market is segmented as:
- North America
- Latin America
- East Asia
- South Asia & Oceania
Pennyroyal Oil Market: Regional Outlook
Mentha pulegium is native to Europe, North America, and Latin America, and is also found in some parts of Asia. Among regions mentioned above, Europe holds majority of the share in the global pennyroyal oil market, owing to high consumption of pennyroyal oil in the region. Europe is one the largest markets for flavor and fragrance and medicinal herbs, creating high demand for pennyroyal oil in this region. North America, on the other hand, is also one of the largest consumers of pennyroyal oil, owing to growing consumer preference for mint aroma in fragrance, and the second-largest producer of pennyroyal oil. Latin America has witnessed lucrative growth in the mid-term forecast. It is also one of the early users of pennyroyal oil as the insect repellent. The East Asia region is the fastest-growing region in the global pennyroyal oil market owing to an increased demand for fragrance, and the region has started exploring new opportunities in the market. In South Asia & Oceania, the pennyroyal oil market has witnessed a lucrative growth, and the use of pennyroyal oil as ayurvedic herbs has been noticed, especially in India. However, due to high cost of pennyroyal oil, the penetration of the market in the region is low.
Pennyroyal Oil Market: Prominent players
Prominent players in the global pennyroyal oil market are Augustus Oils Ltd., BERJÉ INC., Fleurchem, Inc., Jiangyin Healthway International Trade Co., Ltd., Robertet, Ernesto Ventós, S.A., George Uhe Company, Inc., Indenta Chemicals (India) Pvt. Ltd. and Kanta Enterprises Private Limited. The global pennyroyal oil market is fragmented due to presence of numerous global and regional players.
The research report presents a comprehensive assessment of the pennyroyal oil market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The pennyroyal oil market report provides analysis and information, according to market segments such as geographies, application, and industry.
The Pennyroyal Oil Market Report Covers Exhaustive Analysis On:
- Market Segments
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
The Pennyroyal Oil Market Regional Analysis Includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe)
- CIS & Russia
- Asia-Pacific (China, India, ASEAN, South Korea)
- Middle East & Africa (GCC Countries, South Africa)
The pennyroyal oil report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The pennyroyal oil report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The Pennyroyal Oil report also maps the qualitative impact of various market factors on market segments and geographies.
The Pennyroyal Oil Market Report Highlights:
- A Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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