Press release
Peppermint Oil Market Size to Garner $658.2 Million by 2031: Trends, Applications, and Key Players
Peppermint Oil Marketย
๐ฅ๐ฒ๐พ๐๐ฒ๐๐ ๐ง๐ต๐ฒ ๐ฆ๐ฎ๐บ๐ฝ๐น๐ฒ ๐ฃ๐๐ ๐ข๐ณ ๐ง๐ต๐ถ๐ ๐ฅ๐ฒ๐ฝ๐ผ๐ฟ๐: https://www.alliedmarketresearch.com/request-sample/14551
๐๐ก๐ ๐ฉ๐๐ฉ๐ฉ๐๐ซ๐ฆ๐ข๐ง๐ญ ๐จ๐ข๐ฅ ๐ฆ๐๐ซ๐ค๐๐ญ ๐ฐ๐๐ฌ ๐ฏ๐๐ฅ๐ฎ๐๐ ๐๐ญ $๐๐๐.๐๐ ๐ฆ๐ข๐ฅ๐ฅ๐ข๐จ๐ง ๐ข๐ง ๐๐๐๐, ๐๐ง๐ ๐ข๐ฌ ๐๐ฌ๐ญ๐ข๐ฆ๐๐ญ๐๐ ๐ญ๐จ ๐ซ๐๐๐๐ก $๐๐๐.๐ ๐ฆ๐ข๐ฅ๐ฅ๐ข๐จ๐ง ๐๐ฒ ๐๐๐๐, ๐ ๐ซ๐จ๐ฐ๐ข๐ง๐ ๐๐ญ ๐ ๐๐๐๐ ๐จ๐ ๐.๐% ๐๐ซ๐จ๐ฆ ๐๐๐๐ ๐ญ๐จ ๐๐๐๐.
๐๐๐ฒ ๐๐จ๐ฆ๐ฉ๐๐ง๐ข๐๐ฌ
The prominent players analyzed in this report include Aksu Vital Natural Products and Cosmetics, Aromaaz International, DลTERRA, Greenleaf Extractions Pvt. Ltd., Lebermuth, Inc., Melaleuca Inc, Mountain Rose Herbs, NOW Foods, Plant Therapy Essential Oils, and Young Living Essential oils.By product type, natural peppermint oil had the largest market share in 2021 and is further expected to grow with the highest CAGR during the forecast period.
๐๐๐ ๐ข๐จ๐ง๐๐ฅ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ:
In 2021, North America accounted for more than 37% of the global peppermint oil market, and is expected to maintain its dominance during the forecast period in the peppermint oil market demand. Moreover, LAMEA is expected to possess the highest CAGRs, owing to increase in adoption of natural and organic products and rise in expenditure on health-related products in the countries. Porter's five forces analysis for the peppermint oil market highlights market competition in terms of the power of buyers, suppliers, manufacturers, and new entrants.
๐๐ฎ๐ฒ ๐๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ (262 ๐๐๐ ๐๐ฌ ๐๐๐ ๐ฐ๐ข๐ญ๐ก ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ, ๐๐ก๐๐ซ๐ญ๐ฌ, ๐๐๐๐ฅ๐๐ฌ, ๐๐ง๐ ๐ ๐ข๐ ๐ฎ๐ซ๐๐ฌ): https://www.alliedmarketresearch.com/checkout-final/e228fa6703ff4e6c71de4b7398cc75d5
Determinants of growth:
Surge in number of spa & relaxation centers have boosted the growth of the global peppermint oil market. On the other hand, high price of peppermint oil, limited availability of raw materials, and availability of synthetic substitutes impede the market growth. However, rise in awareness regarding benefits of peppermint oil would open new opportunities in the future.
By application, the food and beverages segment held the highest revenue in 2021, garnering nearly two-fifths of the global peppermint oil market share. This is owing to the fact that peppermint oils act as a natural preservative for food items and increase the shelf-life of packaged food items as well. The cleaning and home segment, simultaneously, would manifest the fastest CAGR of 8.9% during the forecast period. This is attributed to the fact that fragrance of the peppermint oil-based cleaning products make it more popular among various consumer profiles.
Key Findings :
By product type, natural peppermint oil had the largest market share in 2021 and is further expected to grow with the highest CAGR during the forecast period.
By application, food & beverage is the most consumed form of peppermint oils; however, the usage of peppermint oils in cleaning & home products is expected to rise in the future.
By distribution channel, the most common method of purchase of peppermint oils is via direct distribution channels while retail distribution channels are gaining more popularity for peppermint oil purchase.
By region, North America is the largest consumer of peppermint oil products; however, Asia-Pacific is expected to grow at the highest CAGR during the forecast period.
๐๐๐ญ ๐๐จ๐ฎ๐ซ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐: https://www.alliedmarketresearch.com/request-for-customization/14551
By distribution channel, the direct distribution channel contributed to more than half of the global peppermint oil market revenue in 2021, and is expected to retain its dominance by 2031. This is because various industries are now transitioning toward the adoption of peppermint oils to address the rise in concerns for health safety and increase in demand for natural ingredient in products. The others segment, however, would showcase the fastest CAGR of 7.6% from 2022 to 2031.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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