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The mint oil is also called peppermint oil. It is produced by extraction of oils from the stem of peppermint herb and flowers. Steam distillation is a popular process, which is used in the extraction of mint oil. The product contains high concentrations of pulegone and menthone, which have natural pesticide characteristics. Additionally, the mint oil provides the cooling effects that further aids to kill bacteria and also suitable for short-term treatment of irritable bowel syndrome and carminative effect. It is mainly used for soothing headaches, sinus, cold, muscle pain, and digestive system simulation. The mint oils find its use in various applications such as oral products, confectionery products, pharmaceutical products, tobacco products, and fragrance products.
The mint oil market is growing at a rapid pace owing to increasing its use in aromatherapy treatment. In the aromatherapy treatment, the aromas are used from the natural substances to treat various physical as well as emotional conditions. In the treatments, the mint oil is utilized for various purposes such as bathing, inhalation, massages, and perfumes. The product helps to reduce anxiety, pain, and improve the memory. The rising consumer demand for natural treatments over chemical or synthetic treatment will surge the demand for mint oils during the forecast period.
However, the declining production and increasing cost are some of the negative factors which are hampering the mint oils market growth during the review period.
Key Market Driver -
The rise in demand for mint oil in the aromatherapy treatments will fuel the market growth
Key Market Restraint -
Increasing cost and declining production to restrict the market growth
Based on application, the mint oils market is segmented into oral products, confectionary products, pharmaceutical products, tobacco products, and fragrance products. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The key players in the mint oils 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.
Europe is anticipated to witness the highest growth in the mint oil market owing to the rising demand for the product in oral and confectionery applications. The higher adoption of the product in tobacco applications will fuel the mint oil market growth in North America. In Asia Pacific, the rise in product demand is due to the rapidly growing pharmaceutical industry, which further surges the mint oil consumption in various pharmaceutical applications. The Middle East & Africa is anticipated to witness significant growth, owing to the adoption of the products in the aromatherapy treatments.
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