Synthetic Menthol Market Share to Witness Steady Rise in the Coming Decade

Synthetic Menthol Market: Introduction

Menthol is a crystalline organic compound that can be synthesized or naturally produced from cornmint, mint oil, peppermint, etc. Menthol has high medical and nutritional value. Therefore, it is used in various confectionery products such as chewing gum and candies. It is also used in ointment drugs and inhaled products. Traditionally, menthol is obtained naturally, that is, by harvesting and processing mint. However, climatic changes tend to affect the overall menthol supply and also lead to price fluctuations.

India and China now have a large share of the world's total supply of natural menthol. Demand for menthol crystals from major end-use industries has grown steadily over the last decade. To meet this growing demand, efforts have been made to adopt alternative synthetic sources for the commercial production of menthol. Synthetic menthol is relatively pure compared to natural menthol. Also, synthetically obtained menthol is relatively cost effective as compared to naturally obtained menthol. In addition, the supply of raw materials needed to produce synthetic menthol is sufficient. Therefore, production consistency is guaranteed.

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Synthetic Menthol Market: Dynamics

Growth in the synthetic menthol market is driven primarily by increasing demand from major end-use industries such as the pharmaceutical, food and beverage, and cosmetics industries. Synthetic menthol is relatively pure. In recent years, the price of raw materials required for the production of synthetic menthol has also fallen due to the fall in crude oil prices.

Therefore, it makes production more cost effective. Demand for synthetic menthol has exceeded actual supply over the last two years. In addition, a small number of players are active in the global synthetic menthol market. As such, supply safety is one of the factors expected to impact the growth of the synthetic menthol market.

Synthetic menthol market: segmentation

Based on grade
Pharmaceutical grade
Food grade
others
Based on the application
Pharmaceuticals
Cosmetics
Oral hygiene
Food & Beverage
others
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Synthetic menthol market: regional outlook

The Asia Pacific region is expected to occupy a large share of the global synthetic menthol market due to the strong presence of the region's leading food and beverage manufacturers. Demand for menthol is increasing in North America, so the region is expected to record healthy growth over the forecast period.

Europe is expected to hold the second largest share of the global synthetic menthol market due to the presence of major players in Europe and the growing demand for synthetic menthol and its products.

Europe is expected to record strong growth over the forecast period. The Middle East and Africa have a relatively small share of the overall synthetic menthol market, but are expected to record steady growth over the same period.

Synthetic menthol market: key player

Examples of market participants in the global synthetic menthol market identified throughout the value chain include BASF SE, Symrise AG and Takasago International Corporation. Both companies are expected to channel their efforts to expand their existing capacity to better meet the growing demand for synthetic menthol around the world.

The research report presents a comprehensive assessment of the market and includes thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.

It also includes predictions using the appropriate set of assumptions and methodologies. Research reports provide analysis and information according to categories such as market segment, region, grade, and application.

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