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WILMINGTON, DE, UNITED STATES, January 13, 2025 /EINPresswire / -- The global peppermint oil
market size was valued at $331.70 million in 2021, and is estimated to reach $658.2 million by 2031, growing at a CAGR of 6.6% from 2022 to 2031.
According to the insights of CXOs of leading companies, the peppermint oil market holds high potential in the food & beverage industry. Presently, the peppermint oils market is dominated by natural peppermint oil; however, conventional peppermint oil generated a notable revenue in 2021 and is expected to gain significant market share during the forecast period. Moreover, regulations imposed by the U.S. Food and Drug Administration on essential and organic oils used as flavors and regulations imposed by Consumer Product Safety Commission on air fresheners, and household cleansers are expected to limit the North American market growth during the forecast period.
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According to UMMC (University of Maryland Medical Center), peppermint oil can be an effective treatment for flatulence, indigestion, and irritable bowel syndrome. The use of peppermint oil fragrance is suggested by the therapist to improve memory and enhance readiness and is also used as a natural insect repellent. It is mostly cultivated in India, Italy, the U.S., Japan, and UK. It is extracted from fresh plant leaves using a steam refining process. Peppermint essential oil is steam distilled from the fragrant herb, primarily composed of the chemical components of menthol and menthone.
Peppermint oil is used in aromatherapy for acne, dermatitis, asthma, bronchitis, digestive problems, colds, headaches, and fatigue. Over the last few years, consumer awareness regarding herbal products and food is on the rise. Most of the packaged food available in the market contains a variety of chemicals, some of which are very harmful to health, such as preservatives and flavor additives. Moreover, some preservatives are linked with unfavorable effects, which can cause unpleasant reactions in consumers who are sensitive to a particular preservative or possess a potential increased risk for cancer all such factors results in the peppermint oil market trends.
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In such a situation, using herbal products having no pesticides, chemicals, or processed additives and selecting natural, herbal food to minimize risk of disease, illness, and disorders is the new trend. Many consumers are avoiding chemical ingredients in their food, health food, functional food, proteins, and nutraceutical products. Hence, demand for naturally sourced ingredients such as essential oils in nutraceuticals is increasing continuously. Demand for peppermint oil is mainly increasing in developed regions of North America and Europe as consumers in this region are spending more on natural products as compared to consumers in other regions.
Hence, trend of using natural ingredients in the nutraceutical industry in proving one of the major factors to propel the growth of the market. According to the World Health Organization each year, roughly 25% of the European population suffers from depression and anxiety, which account for up to 50% of chronic sick leaves in Europe, imposing a strain on the European economy. Germany is expected to remain an important market for peppermint oils.
The prominent players analyzed in this report include Aksu Vital Natural Products and Cosmetics, Aromaaz International, D.TERRA, Greenleaf Extractions Pvt. Ltd., Lebermuth, Inc., Melaleuca Inc, Mountain Rose Herbs, NOW Foods, Plant Therapy Essential Oils, and Young Living Essential oils 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.
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