Press release
Spearmint Oil Market Highlighting Lucrative Avenues Across Major Geographies during 2018-2028
Spearmint oil is used in the treatment of internal wounds, respiratory problems, and indigestion. Healthcare and therapeutic industry also witnesses a considerable demand for spearmint oil. The global spearmint oil market is likely to witness a steady growth attributed to substantial demand in the healthcare and therapeutic industry. Expansion of online channels will impact growth of the global market. The global spearmint oil market is expected to register a moderate CAGR growth, and will represent a market value of US$ 454.4 Mn in 2022.Request Sample:
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Healthcare Industry to Witness Significant Demand
Application of spearmint oil extends beyond the food industry. Attributed to various health-related benefits, this oil witnesses an upsurge in demand for treating indigestion, common cold, and respiratory problems. Spearmint oil is also used as a disinfectant for protecting and healing internal wounds in intestines, stomach, and food pipeline.
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Therapeutic Industry to Register Significant Growth
Natural spearmint oil will outsell organic spearmint oil, and will represent a value of over US$ 120 Mn by 2022 – end. Europe will remain the largest market for spearmint oil globally. Natural spearmint oil among other products is expected to reflect the highest CAGR in the global spearmint oil market throughout 2022.
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Rich in antioxidant properties, the spearmint oil witnesses a robust demand in various industries. Increasing prevalence of common cold, indigestion, respiratory problems has led to a boost in demand for spearmint oil in the healthcare industry. Moreover, spearmint is further used for disinfecting internal wound in the food pipeline, stomach and intestine. Apart from treatment of infections and diseases, spearmint oil is likely to witness an upsurge in demand in the cosmetic industry. Attributed to antiseptic and anti-oxidant properties, spearmint oil witnesses a significant demand among cosmetic manufacturers for reducing various skin imperfections and wrinkles.
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Competition Tracking
Companies such as Aromaaz International, DoTERRA International, Lionel Hitchen Essential Oils, Plant Therapy Essential Oils, Synthite Industries Ltd., The Lebermuth Company Inc, Young Living Essential Oils, Green Fields Oil Factory, IL Health and Beauty Natural Oils Co., Inc, and Aksuvital are anticipates to remain active in the expansion of global spearmint oil market.
Segmentation Analysis
Natural spearmint oil among various products is likely to register a relatively high CAGR growth in the global spearmint oil through 2022. This segment will represent more than US$ 120 Mn in terms of value during the predicted period. Absolute spearmint oil among various product forms is likely to represent the most attractive segment in the global market of spearmint oil market by 2022 – end.
Sales of spearmint oil will witness a significant growth through online portals among other distribution channels. Franchise outlets is expected to register the second highest CAGR growth in the global market of spearmint oil during the projected period. Therapeutic industry among other end users will reflect a relatively high CAGR growth in the global market. However, the food and beverages industry will represent a relatively high growth in terms of revenue by the end of 2022.
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