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Mint Essential Oils Market Size, Share, Growth And Forecast Report 2024 To 2033
Mint Essential Oils Market
As per the report, the mint essential oils market size has grown rapidly in recent years. It will grow from $11.55 billion in 2023 to $12.96 billion in 2024 at a compound annual growth rate (CAGR) of 12.2%. The mint essential oils market size is expected to see rapid growth in the next few years. It will grow to $12.4 billion in 2028 at a compound annual growth rate (CAGR) of 20.66%.
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The Impact Of Rising Demand For Organic and Natural Products on the Mint Essential Oils Market
The rising demand for organic and natural products is expected to propel the growth of the mint essential oils market going forward. Organic products are produced and processed according to strict organic standards, emphasizing the use of organic ingredients and sustainable farming practices, while natural products, derived from natural sources, lack standardized regulations and may vary in ingredient quality and transparency. The rising demand for organic and natural products is driven by a combination of health consciousness, environmental concerns, and a desire for transparency and authenticity in product claims. Mint essential oils are used in organic and natural foods to enhance flavor and provide a refreshing taste while maintaining clean, natural ingredient profiles. Additionally, they offer potential health benefits, such as digestive aid and antimicrobial properties, aligning with consumer demand for natural wellness products. For instance, in June 2022, according to the Organic Trade Association (OTA), a US-based business association for the organic industry in North America, it was revealed that organic industry sales surpassed $63 billion, with $1.4 billion (2%) in total growth over the preceding year. Additionally, organic food, which accounted for over 90% of organic product sales, experienced 2% growth, reaching $57.5 billion. Therefore, rising demand for organic and natural products is expected to propel the growth of the mint essential oils market.
Innovative Product Developments In The Mint Essential Oils Market
Major companies operating in the mint essential oils market are developing innovative products, such as pure essential oils, to meet the growing consumer demand for natural and organic ingredients. Pure essential oils are oils that are derived from their genuine botanical source and do not contain any additives, fillers, or impurities. For instance, in February 2023, Zed Black, an India-based brand for manufacturing incense sticks, launched a range of pure essential oils called Orva Naturals to promote overall wellness and serenity. The new line-up includes six 100% pure essential oil variants, such as lavender, lemongrass, tea tree, orange, peppermint, and rosemary. These oils are free from synthetic fragrances and unnatural additions, ensuring a natural and therapeutic experience for customers, whereas peppermint oil is a multipurpose essential oil that can be used for various wellness-related issues, including fatigue relief and mood elevation.
The mint essential oils market covered in this report is segmented -
1) By Type: Citrus, Lavender, Rosemary, Tea Tree, Peppermint, Citronella, Other Types
2) By Distribution Channel: Business To Business, E-Commerce, Hypermarket And Supermarket, Other Retail Formats
3) By Application: Medical, Food And Beverages, Spa And Relaxation, Cosmetics, Toiletries, Fragrances, Cleaning And Home
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Major companies operating in the mint essential oils market are Doterra International LLC, Young Living Essential Oils LC, Synthite Industries Ltd., Frontier Co-op, Mountain Rose Herbs, The Lebermuth Company Inc., Vinayak Ingredients India Private Limited, Rocky Mountain Oils LLC, Ultra International B.V., NOW Foods, BMV Fragrances Pvt. Ltd., Plant Therapy LLC, Kama Ayurveda Pvt Ltd, Foodchem International Corporation, AOS Products Pvt. Ltd., Arora Aromatics Pvt. Ltd., Moksha Essentials Inc, Bhagat Aromatics Ltd, Essex Laboratories LLC, Hindustan Mint & Agro Products Pvt. Ltd., Edens Garden LLC, Aromaaz International Pvt Ltd, Kanta Chemical Co, Organic Infusions Inc.
Contents of the report:
1. Executive Summary
2. Mint Essential Oils Market Report Structure
3. Mint Essential Oils Market Trends And Strategies
4. Mint Essential Oils Market - Macro Economic Scenario
5. Mint Essential Oils Market Size And Growth
…..
27. Mint Essential Oils Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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