Global Peppermint Oil Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028

Global Peppermint Oil Market: Overview

"The Peppermint Oil Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."

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Peppermint oil is derived from the peppermint plant and is mostly used in medicines due to its therapeutic benefits. Peppermint oil has many health benefits, including simulation of the digestive system and relaxing the cold, headaches, muscle pain, sinus etc.

It is widely used in the oral care products because of its cooling effect and capability to finish the bacteria that is responsible for bad breath. In addition, peppermint oil is extensively used in food & beverage industry for flavoring purpose as natural food additive, and as fragrance in cosmetics and soaps.

Global Peppermint Oil Market: Dynamics

Growing demand for peppermint oil from food & beverage industry is a major factor expected to drive revenue growth of global peppermint oil market over the forecast period. In addition, rising adoption of peppermint oil in aromatherapy treatments for various purpose such as massages, bathing, inhalation, perfumes, etc. is expected to drive the global peppermint oil market growth.

Moreover, rising disposable income and growing consumer preference about personal care products has been driving growth of the global peppermint oil market over the forecast period. Growing consumer awareness about the benefits of using natural and organic products are anticipated to trigger the growth of the market.

Also, peppermint oil is a great insect repellent, and is used in many insect repellents, creams, and formulations which in turn is expected to increase demand and adoption of peppermint oil in the near future.

However, the high manufacturing cost of peppermint oil, coupled with declining rate of production of the peppermint oil may hamper the global peppermint oil market growth to a certain extent.

Global Peppermint Oil Market: Segment Analysis

Among the end-use application segments, the cosmetic segment is expected to account for a significant share in terms of revenue in the global market over the forecast period. The increasing use of peppermint oils in hair and skin products, due to growing trend for natural products is a factor fueling growth of cosmetic segment in the global peppermint oil market over the forecast period.

The aromatherapy and pharmaceuticals segment is expected to account for considerable revenue share in the global market in terms of revenue contribution. Increasing adoption of various pharmaceutical products such as medicated oils, analgesic balms, and rubbing alcohol is a major factor expected to drive growth of the segment.

Global Peppermint Oil Market: Region Analysis

The Europe peppermint oil market is expected to account for major revenue share in the global market, followed by North America market. Rising consumer preference for natural essential oils and increasing demand for peppermint oil in cosmetics and pharmaceutical industry are key factors expected to drive growth of the target market in this region over the forecast period.

Market in Asia Pacific is expected to register significant growth rate in the global market, owing to rising disposable income, growing pharmaceutical sector, and high demand for confectionary products such as chewing gum, candies, and throat lozenges in countries such as China, India, and Japan in this region. Middle East & Africa and Latin America markets are expected to register lucrative growth in terms of revenue, due to high popularity of peppermint oil due to various medicinal properties among individuals in the region.

Global Peppermint Oil Market Segmentation:

Segmentation by end-use application:

• Food & Beverages
• Cosmetics & Personal Care Products
• home Care Products
• Aromatherapy and Pharmaceuticals
• Others (Cigarette and Chewing Tobacco)

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa