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Global Spearmint Oil Market Dynamics, Applications, Pricing, Top Players, Size and Share 2017-2022
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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. Manufacturers operating in the healthcare industry witness significant demand for spearmint oil attributed to the antispasmodic and antiseptic qualities.
Consumption in the Personal Care Industry
Spearmint oil is used in production of mosquito repellant and fumigants attributed to the anti-inflammatory properties. Apart from its use an insecticide, spearmint oil is also used to soothe itching, swelling, inflamed skin and redness. Due to such factors, manufacturers producing personal care products witness a considerable demand for spearmint oil.
Aromatherapy to Boost Growth of the Global Market
Use of spearmint oil is not only limited to healthcare and personal care industries. Attributed to restorative fragrance and revitalizing properties, spearmint oil is increasingly used in aromatherapy. Manufacturers operating in the therapeutic industry witness considerable demand for production of essential oils. Such factors are likely to contribute towards growth of the global spearmint oil market significantly.
Considerable Consumption among Cosmetic Manufacturers
Rich antiseptic and anti-oxidant qualities of spearmint oil is predicted to extend its application in the cosmetic industry. Spearmint oil is increasingly used for reducing skin imperfections and wrinkles. Application of this oil also increases elasticity and resilience of skin. Bound to such factors, spearmint oil is witnessing considerable demand among cosmetic manufacturers.
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.
Absolute spearmint oil is likely to remain the most attractive segment among other forms, and will represent a value of more than US$ 60 Mn in 2017. This segment will register the highest CAGR in the global spearmint market, followed by blends form.
Therapeutics among other application segments will register the highest CAGR growth, followed by food and beverages industry. However, food and beverages will witness the highest growth in terms of revenues, representing a value of more than US$ 30 Mn by the end of 2022.
Online channel of distribution will register the highest CAGR growth in the global market, followed by franchise outlets. Modern trade among other distribution channels will witness significant growth in terms of sales by the end of 2022. Sales of spearmint oil through modern trade is predicted to reach over US$ 50 Mn by 2022 – end.
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.
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Table of Contents:
1. Global Spearmint Oil Market - Executive Summary
2. Global Spearmint Oil Market Overview
2.1. Introduction
2.1.1. Global Spearmint Oil Market Taxonomy
2.1.2. Global Spearmint Oil Market Definition
2.2. Global Spearmint Oil Market Size (US$ Mn) and Forecast, 2012-2022
2.2.1. Global Spearmint Oil Market Y-o-Y Growth
2.3. Global Spearmint Oil Market Dynamics
2.3.1. Drivers
2.3.2. Restraints
2.3.3. Trends
2.4. Supply Chain
2.5. Cost Structure
2.6. Pricing Analysis
2.7. Raw Material Sourcing Strategy and Analysis
2.8. List of Distributors
2.9. Key Participants Market Presence (Intensity Map) By Region
3. Global Spearmint Oil Market Analysis and Forecast By Source Type
3.1. Global Spearmint Oil Market Size and Forecast By Source Type, 2012-2022
3.1.1. Natural Spearmint Oil Market Size and Forecast, 2012-2022
3.1.1.1. Revenue (US$ Mn) Comparison, By Region
3.1.1.2. Market Share Comparison, By Region
3.1.1.3. Y-o-Y growth Comparison, By Region
3.1.2. Organic Spearmint Oil Market Size and Forecast, 2012-2022
3.1.2.1. Revenue (US$ Mn) Comparison, By Region
3.1.2.2. Market Share Comparison, By Region
3.1.2.3. Y-o-Y growth Comparison, By Region
Continued….
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