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Forecast on Peppermint Oil Market for the Period 2016 - 2026
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Peppermint Oil Market: Drivers and Restraints
The rise in demand for aromatherapy treatments is expected to drive the growth of global peppermint oil market. The increasing consumer awareness regarding the use of safe natural and organic products is expected to boost the growth of global peppermint oil market. Increasing disposable income and awareness of personal care has resulted in demand for oral care and confectionery products in rural areas, which is a major driver for the growth of global peppermint oil market. The recent outbreak of Zika virus and diseases such as dengue and malaria has increased the demand for natural mosquito repellents and the use of peppermint oil in these repellents is expected to increase the demand. The fragrance ingredients and essential oils market recorded high growth rate, which is expected to increase the demand for peppermint oil.
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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 global peppermint oil market can be divided into five regions, namely North America, Latin America, Europe, Asia-Pacific (APAC) and Middle East & Africa (MEA). North America and Europe holds major share in terms of market value in global peppermint oil market. North America has a significant share in the production of peppermint oil. The mature essential oil market in Europe is expected to boost peppermint oil market in the region. APAC is expected to register high CAGR over the forecast period. This is attributed to the rise in demand for natural and organic cosmetic and fragrance products in the region. The upsurge of investments in healthcare and pharmaceutical industry is anticipated to propel the growth of global peppermint oil market. Latin America is expected to project high growth rate during the forecast period, owing to the rapid growth of food and beverage industry in the region.
Peppermint Oil Market: Key Players
Some of the key players in the global peppermint oil market are as follows: 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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