Peppermint Oil Market Size Worth $673.25 Million By 2032 | CAGR: 6.70%

The global peppermint oil market size is expected to reach USD 673.25 million by 2032, according to a new study by Polaris Market Research. The report “Peppermint Oil Market Share, Size, Trends, Industry Analysis Report, By Source (Organic and Natural); By Extraction Method; By Application; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The widespread product use as a flavoring agent in the food, in pharmaceutical ingredients, and as a fragrance in various cosmetic & hygienic products along with the exponential rise in need for natural aromatic fragrances & flavors in different types of spa &relaxation applications, are among the prominent factors fostering the global market growth.

Moreover, there is an increasing number of companies in pharmaceutical & nutraceutical industries focusing on exploring the potential of peppermint oil for their medicinal properties, to use product in dietary supplements and several over-the-counter medications for conditions such as headaches and irritable bowel syndrome, are also likely to contribute positively towards the market growth.

• For instance, in June 2023, ACTIZEET, introduced its new line of pure essential oils in India, that offers a very holistic and natural approach to the well-being. The new range consists wide variety of options from calming lavender and refreshing peppermint and soothing rose.

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The exponential growth of e-commerce platforms and direct-to-consumer sales channels all over the world has revolutionized the way peppermint oil is marketed and distributed among consumers, and have bode well for market growth in the recent years. Beside this, growing technological innovations in online retail including virtual reality product experiences and AI-driven personalized recommendations, could also enhance the consumer purchasing experience and creating more revenue opportunities for the global market.

The drastic increase in the number of regulatory compliance and quality standards by major government authorities around the world, which makes the product manufacturers need to adhere to quality standards such as organic certifications and sustainable and good manufacturing practices that ensures product quality and safety, is also pushing the market at rapid pace over the years.

Peppermint Oil Market Report Highlights

• Organic segment accounted for largest market share, on account of higher preferences for organic ingredients and plant-based ingredients
• Distillation segment held the majority market share, which is driven by its growing adoption as a gentle and non-destructive method for extraction
• Aromatherapy segment will grow at highest growth rate, due to growing number of people seeking for effective aromatherapy solutions across the world
• North America dominated the global market, owing to presence of leading product producing and exporting countries and higher consumption of organic ingredients
• The key market players include Aromaaz International, Green Fields Oil Factory, IL Healthy & Beauty Natural Oils, Lionel Hitchen Essential Oil, and Aksuvital

Polaris Market Research has segmented the peppermint oil market report based on source, extraction method, application, and region:

Peppermint Oil, Source Outlook (Revenue - USD Million, 2023 - 2032)

• Organic
• Natural

Peppermint Oil, Extraction Method Outlook (Revenue - USD Million, 2023 - 2032)

• Distillation
• Carbon Dioxide Extraction
• Cold Press Extraction
• Solvent Extraction
• Others

Peppermint Oil, Application Outlook (Revenue - USD Million, 2023 - 2032)

• Therapeutics
• Aromatherapy
• Food & Beverages
• Cosmetics
• Fragrances
• Cleaning & Home
• Others

Peppermint Oil, Regional Outlook (Revenue - USD Million, 2023 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Peppermint Oil Market Report Scope