Global Peppermint Oil Market: Overview
The oil that is extracted from the stem and flowers of the peppermint herb is known as peppermint oil. The distillation process that involves steam is used for the oil extraction. Peppermint oil is mainly used in the medicines owing to its therapeutic benefits. The health benefits of peppermint oil include simulation of the digestive system and for relaxing the headaches, cold, muscle pain, sinus etc. They are widely used in the oral care products owing to its cooling effect and the capability to destroy the bacteria that is responsible for the bad breath. Peppermint oils are extensively used in the food and beverage industry for the flavoring purpose and as natural food additive which is safe.
Global Peppermint Oil Market: Segmentation
The global peppermint oil market is segmented into its applications. Based on the application, the market is segregated into oral products, confectionary products, pharmaceutical products, tobacco products, and fragrance products. They are further sub-segmented; oral products are sub-categorized into toothpaste, mouthwash, and oral spray. The confectionary products segment is sub-classified into chewing gum, candies, and cough and throat lozenges. Pharmaceutical products are sub-divided into rubbing alcohol, medicated oils, analgesic balms, and drugs. Tobacco products segment is sub-segmented into chewing tobacco and cigarette. Fragrance products are sub-classified into shampoo, aftershave lotions, soap, and bathing oil.
Global Peppermint Oil Market: Growth Factors
Increasing growth of the aromatherapy treatments attributes to drive the global peppermint oil market growth. Consumer awareness about the advantages of using organic and natural products anticipates triggering the growth of the market. Rise in the disposable income and awareness about personal care among the consumers has driven the peppermint oil market. The essential oils and the fragrance ingredients market are expanding widely which in turn expects to increase the demand for peppermint oil. Factors affecting negatively are increasing cost and declining production of the oil hampers the market growth.
Global Peppermint Oil Market: Regional Analysis
Geographical segmentation of the global peppermint oil market is diversified into North America, Latin America, Europe, Asia-Pacific, and the Middle East and Africa. In terms of market value, the regions that hold the maximum market share for peppermint oil is the North America and Europe. Europe has the mature market for essential oils which is expected to trigger the peppermint oil market. Asia Pacific region projects to have a major market growth in the coming years. The factor that attributes to this rise is the increasing demand for the organic and natural fragrance and cosmetic products in the region. The increase in the investments that is made in the pharmaceutical and healthcare industry predicts propelling the market growth. Latin America anticipates having a good market growth in the coming years due to the expansion of the food and beverage industry in the region.
Global Peppermint Oil Market: Competitive Players
The key market players that are involved in the peppermint oil market include The Lebermuth Company, Inc., Vinayak Ingredients (India) Private Limited, AOS Products Pvt., Ltd., Hindustan Mint & Agro Products, Foodchem International Corporation, Shanti Chemicals, Paras Perfumers, Essex Laboratories LLC, Elixarome Limited, De Monchy Aromatics, Arora Aromatics Pvt. Ltd., Bhagat Aromatics Limited, and Aromatic and Allied Chemicals.
Global Peppermint Oil Market: Regional Segment Analysis
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