(Food-Beverage-News.Com, May 04, 2018 ) Global Peppermint Oils Market was worth USD xx billion in 2016 and estimated to be growing at a CAGR of xx%, to reach USD xx billion by 2021. Peppermint oil is extracted from the flowers and stem of the peppermint flower by the process of steam distillation. It’s widely used in medicines because of its therapeutic benefits. It can be used for headaches, muscle pain and digestion problems. It also has a cooling effect and is a main ingredient in mouthwashes. They are used as a flavouring agent in the food and beverage sector. It also helps in aromatherapy causing the relaxation of the body.
Increase in the demand for aromatherapy treatments is expected to drive the growth of peppermint oil market. With consumers slowly switching to natural and organic products, the market is expected to grow during the forecast period. Increasing disposable income and awareness of personal care has resulted in demand for oral care and confectionery products, which is a major driver for the growth of the market. There has been a rise in the demand for essential oils which in turn drives the growth of the peppermint market. However, the rise in cost and decline in production of peppermint oil is expected to hamper the growth of global peppermint oil market during the forecast period.
The market for Peppermint Oils is broadly categorized into application. By application the market is segmented into oral products, confectionary products, pharmaceutical products, tobacco products and fragrance products. Oral products are further divided into Mouthwash, toothpaste and oral spray. Confectionery products are further classified into candies, chewing gum and cough and throat lozenges. Pharmaceutical products are further segmented into analgesic balms, rubbing alcohol, drugs and medicated oils. Tobacco products are further classified into cigarette and chewing tobacco. Fragrance products are further classified into soap, shampoo, bathing oil and aftershave lotion. On the basis of geography, the global market is analysed under various regions namely North America, Europe, Asia-Pacific and Rest of the World. The Peppermint Oils market was dominated by North America and Europe. Asia Pacific region is expected to register a high CAGR. Latin America is also expected to grow at a steady rate.
Some of the major companies dominating the market, by their products and services include The Lebermuth Company, Inc. , Essex Laboratories LLC, Vinayak Ingredients (INDIA) Pvt., Ltd. , Elixarome Limited , AOS Products Private Limited , De Monchy Aromatics , Hindustan Mint & Agro Products Pvt. Ltd. , Arora Aromatics Pvt. Ltd. , Foodchem International Corporation , Bhagat Aromatics Limited , Shanti Chemicals , Aromatic And Allied Chemicals , Paras Perfumers.
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