Global Spearmint Oil Market, Trends & Growth Opportunity, By End Use (Food and Beverages, Cosmetics & Personal Care, Aromatherapy, Others), By Distribution Channel (Supermarkets/Hypermarkets, Online stores), By Region and Forecast till 2030.
Global Spearmint Oil Market
The Global Spearmint Oil Market was valued at USD 81.89 Mn in 2022 and is expected to expand to USD 125.36 Mn by 2030 at a CAGR of 5.42% during the forecast period of 2023-2030.
Spearmint oil is an essential oil with a minty, spicy, and sweet flavor. It is frequently used to flavor foods and beverages. Furthermore, spearmint oil is useful as a herbal treatment for a variety of health conditions. Spearmint oil is extracted from spearmint which is a mint species native to Europe and parts of Asia.
Market Drivers
One of the key factors propelling the expansion of the spearmint oil market over the forecast period is the growing awareness of the health advantages of spearmint. Consumer awareness of the benefits of using natural and organic ingredients has increased as a result of rising health problems brought on by the usage of products with artificial chemicals. Since the compounds in spearmint are recognized to have a very positive impact on a person's physical and mental health, spearmint oil has found many therapeutic uses. Due to the advantages of spearmint oil, many producers of cosmetics and personal care goods like to use it in a variety of products, enabling market growth.
Market Restraints
Lack of consumer awareness is a key restraint to the growth of the spearmint oil market. Spearmint is a less popular variant of the mint family, which makes it a less discovered herb. Spearmint oil can be dominated by the popularity of peppermint oil, which has more products available in the market.
Moreover, fluctuations in raw material prices, as well as disruptions in the supply chain can pose a significant challenge to the spearmint oil market.
Market Segmentation
The global spearmint oil market is segmented by end-use, such as food and beverages, cosmetics & personal care, aromatherapy, and others. Further, the market is segmented into distribution channels, such as supermarkets/hypermarkets and online stores.
Regional Analysis
The market for spearmint oil is anticipated to increase significantly in North America because of the region's growing interest in natural and organic products as well as growing knowledge of the oil's positive health effects. This trend will also be observed in the Asia Pacific, as the market will register a significant growth rate.
Key Players
Mountain Rose Herbs, Young Living Europe B.V, Melaleuca Inc, doTERRA International LLC, Lebermuth Co Inc, Ultra International BV, Citrus and Allied, Arora Aromatics, A. G. Industries, Sydney Essential Oil Company, Dohler, Rocky Mountain Essential Oils, Aksuvital, Lionel Hitchen Essential Oils.
Market Taxonomy
By End Use
• Food and Beverages
• Cosmetics & Personal Care
• Aromatherapy
• Others
By Distribution Channel
• Supermarkets/Hypermarkets
• Online stores
By Region
• North America (USA, Canada, Mexico)
• Europe (Germany, France, UK, Rest of Europe)
• Asia Pacific (China, India, Japan, Rest of Asia Pacific)
• Latin America (Brazil, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa)
Global Spearmint Oil Market
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Spearmint Oil Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Cumulative Impact due to recent Energy Crisis
4.2.5 Cumulative Impact due to nearing Economic Downturn
4.2.6 Post Covid-19 World Supply and Demand Conditions
4.2.7 Cumulative Impact of Russia-Ukraine Conflict
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Spearmint Oil Market, By End Use
5.1 Y-o-Y Growth Comparison, By End Use
5.2 Global Spearmint Oil Market Share Analysis, By End Use
5.3 Global Spearmint Oil Market Size and Forecast, By End Use
5.3.1 Food and Beverages
5.3.2 Cosmetics & Personal Care
5.3.3 Aromatherapy
5.3.4 Others
6 Global Spearmint Oil Market, By Distribution Channel
6.1 Y-o-Y Growth Comparison, By Distribution Channel
6.2 Global Spearmint Oil Market Share Analysis, By Distribution Channel
6.3 Global Spearmint Oil Market Size and Forecast, By Distribution Channel
6.3.1 Supermarkets/Hypermarkets
6.3.2 Online stores
7 Global Spearmint Oil Market, By Region
7.1 Global Spearmint Oil Market Share Analysis, By Region
7.2 Global Spearmint Oil Market Size and Forecast, By Region
8 North America Spearmint Oil Market Analysis and Forecast (2023-2030)
8.1 Introduction
8.2 North America Spearmint Oil Market Share Analysis, By End Use
8.3 North America Spearmint Oil Market Size and Forecast, By Distribution Channel
8.4 North America Spearmint Oil Market Size and Forecast, By Country
8.4.1 U.S.
8.4.2 Canada
8.4.3 Mexico
9 Europe Spearmint Oil Market Analysis and Forecast (2023-2030)
9.1 Introduction
9.2 Europe Spearmint Oil Market Share Analysis, By End Use
9.3 Europe Spearmint Oil Market Size and Forecast, By Distribution Channel
9.4 Europe Spearmint Oil Market Size and Forecast, By Country
9.4.1 Germany
9.4.2 France
9.4.3 UK
9.4.4 Rest of Europe
10 Asia Pacific Spearmint Oil Market Analysis and Forecast (2023-2030)
10.1 Introduction
10.2 Asia Pacific Spearmint Oil Market Share Analysis, By End Use
10.3 Asia Pacific Spearmint Oil Market Size and Forecast, By Distribution Channel
10.4 Asia Pacific Spearmint Oil Market Size and Forecast, By Country
10.4.1 China
10.4.2 Japan
10.4.3 India
10.4.4 Rest of Asia
11 Latin America Spearmint Oil Market Analysis and Forecast (2023-2030)
11.1 Introduction
11.2 Latin America Spearmint Oil Market Share Analysis, By End Use
11.3 Latin America Spearmint Oil Market Size and Forecast, By Distribution Channel
11.4 Latin America Spearmint Oil Market Size and Forecast, By Country
11.4.1 Brazil
11.4.2 Rest of Latin America
12 Middle East Spearmint Oil Market Analysis and Forecast (2023-2030)
12.1 Introduction
12.2 Middle East Spearmint Oil Market Share Analysis, By End Use
12.3 Middle East Spearmint Oil Market Size and Forecast, By Distribution Channel
12.4 Middle East Spearmint Oil Market Size and Forecast, By Country
12.4.1 Saudi Arabia
12.4.2 UAE
12.4.3 Egypt
15.4.4 Kuwait
12.4.5 South Africa
13 Competitive Analysis
13.1 Competition Dashboard
13.2 Market share Analysis of Top Vendors
13.3 Key Development Strategies
14 Company Profiles
14.1 Mountain Rose Herbs
14.1.1 Overview
14.1.2 Offerings
14.1.3 Key Financials
14.1.4 Business Segment & Geographic Overview
14.1.5 Key Market Developments
14.1.6 Key Strategies
14.2 Young Living Europe B.V
14.2.1 Overview
14.2.2 Offerings
14.2.3 Key Financials
14.2.4 Business Segment & Geographic Overview
14.2.5 Key Market Developments
14.2.6 Key Strategies
14.3 Melaleuca Inc
14.3.1 Overview
14.3.2 Offerings
14.3.3 Key Financials
14.3.4 Business Segment & Geographic Overview
14.3.5 Key Market Developments
14.3.6 Key Strategies
14.4 doTERRA International LLC
14.4.1 Overview
14.4.2 Offerings
14.4.3 Key Financials
14.4.4 Business Segment & Geographic Overview
14.4.5 Key Market Developments
14.4.6 Key Strategies
14.5 Lebermuth Co Inc
14.5.1 Overview
14.5.2 Offerings
14.5.3 Key Financials
14.5.4 Business Segment & Geographic Overview
14.5.5 Key Market Developments
14.5.6 Key Strategies
14.6 Ultra International BV
14.6.1 Overview
14.6.2 Offerings
14.6.3 Key Financials
14.6.4 Business Segment & Geographic Overview
14.6.5 Key Market Developments
14.6.6 Key Strategies
14.7 Citrus and Allied
14.7.1 Overview
14.7.2 Offerings
14.7.3 Key Financials
14.7.4 Business Segment & Geographic Overview
14.7.5 Key Market Developments
14.7.6 Key Strategies
14.8 Arora Aromatics
14.8.1 Overview
14.8.2 Offerings
14.8.3 Key Financials
14.8.4 Business Segment & Geographic Overview
14.8.5 Key Market Developments
14.8.6 Key Strategies
14.9 A. G. Industries
14.9.1 Overview
14.9.2 Offerings
14.9.3 Key Financials
14.9.4 Business Segment & Geographic Overview
14.9.5 Key Market Developments
14.9.6 Key Strategies
14.10 Sydney Essential Oil Company
14.10.1 Overview
14.10.2 Offerings
14.10.3 Key Financials
14.10.4 Business Segment & Geographic Overview
14.10.5 Key Market Developments
14.10.6 Key Strategies
14.11 Dohler
14.11.1 Overview
14.11.2 Offerings
14.11.3 Key Financials
14.11.4 Business Segment & Geographic Overview
14.11.5 Key Market Developments
14.11.6 Key Strategies
14.12 Rocky Mountain Essential Oils
14.12.1 Overview
14.12.2 Offerings
14.12.3 Key Financials
14.12.4 Business Segment & Geographic Overview
14.12.5 Key Market Developments
14.12.6 Key Strategies
14.13 Aksuvital
14.13.1 Overview
14.13.2 Offerings
14.13.3 Key Financials
14.13.4 Business Segment & Geographic Overview
14.13.5 Key Market Developments
14.13.6 Key Strategies
14.14 Lionel Hitchen Essential Oils
14.14.1 Overview
14.14.2 Offerings
14.14.3 Key Financials
14.14.4 Business Segment & Geographic Overview
14.14.5 Key Market Developments
14.14.6 Key Strategies
