Spearmint Oil Market to Reach $818.7 Million by 2034 with 5.1% CAGR Growth

Expanding health and wellness trend coupled with clean-label eating habits expected to push spearmint oil sales over the coming years, says Fact.MR.

ROCKVILLE , MD, UNITED STATES, January 20, 2025 /EINPresswire.com/ -- According to Fact.MR, a market research and competitive intelligence provider in its recently updated report, the global spearmint oil market is projected to increase from a value of US$ 497.8 million in 2024 to US$ 818.7 million by the end of 2034.

Spearmint oil has high applications in food & beverages, aromatherapy & therapeutics, pharmaceuticals, personal care, and home care due to its excellent aromatic and healing properties. Spearmint oil’s refreshing minty aroma and therapeutic benefits make it one of the vital essential oils out there. Spearmint oil comes with properties such as anti-inflammatory, antiseptic, and antibacterial, which is why its use has been increasing in personal care and home care products.

This oil is also available in both organic and conventional forms, which has increased its sales over the past many years. Rising organic and clean-label trends are driving high demand for organic spearmint oil. Consumers’ shifting preference toward natural and herbal products is a key factor driving the use of spearmint oil in cosmetics, pharma, and food applications. Spearmint oil is also widely used as a flavoring agent in food and beverage products.

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Key Takeaways from Market Study

Global demand for spearmint oil is forecasted to increase at a CAGR of 5.1% from 2024 to 2034.

The South Korea market for spearmint oil is estimated at US$ 24.2 million in 2024.

The United States market is projected to reach a size of US$ 93.6 million by 2034.

Organic spearmint oil is expected to account for 86.1% of the global market share in 2024.

Demand for spearmint oil in aromatherapy & therapeutics is forecasted to increase at a CAGR of 5% through 2034.

“Spearmint oil’s soothing and energizing properties will increase its use in the production of aromatherapy products over the years ahead,” says a Fact.MR analyst.

Competitive Analysis

Leading manufacturers of spearmint oil market are Aromaaz International, The Lebermuth Company Inc., Young Living Essential Oils, Green Fields Oil Factory, Ultra International B.V., Eden Botanicals, doTERRA International, and AOS Products Pvt. Ltd.

Several companies are focused on the development of innovative spearmint oil formulations to expand their application areas. Rising awareness of the health benefits associated with the use of herbal oils, especially in developing regions, is set to generate lucrative opportunities for spearmint oil producers. As such, spearmint oil manufacturers are exploring untapped markets such as Latin America, MEA, and Asia Pacific to earn more.

Obtained through the steam distilled method, 'Spearmint, USA EO', an essential oil product by Eden Botanicals, is highly popular among consumers.

Growth Drivers for Spearmint Oil Market

Increasing Demand for Natural Ingredients: As consumers become more health-conscious, there is a growing preference for natural products. Spearmint oil, known for its natural antimicrobial and soothing properties, is in high demand across various industries, including personal care and food & beverages.

Rising Popularity of Aromatherapy: The expanding interest in aromatherapy for relaxation, stress relief, and mental well-being is driving the market for spearmint oil, as it is widely used for its calming and soothing effects.

Growth in the Personal Care and Cosmetics Industry: The demand for natural and organic ingredients in personal care products, such as shampoos, soaps, and lotions, is increasing. Spearmint oil is valued for its refreshing fragrance and skin-soothing properties, further boosting its market potential.

Health Benefits and Therapeutic Uses: Spearmint oil is increasingly recognized for its health benefits, including digestive support, relief from headaches, and anti-inflammatory properties, contributing to its growing use in health and wellness products.

Expansion in Food & Beverage Sector: The increasing use of spearmint oil as a flavoring agent in the food and beverage industry, especially in candies, chewing gums, and beverages, is driving demand.

Surging Preference for Sustainable and Eco-Friendly Products: With growing environmental awareness, there is an increasing shift towards sustainable farming and extraction practices for essential oils, including spearmint, which is positively influencing the market.

Technological Advancements in Extraction Techniques: Improved distillation and extraction techniques have enhanced the yield and quality of spearmint oil, making it more accessible and affordable for a range of applications across industries.

Rising Awareness of Alternative Medicine: The growing acceptance of alternative and traditional medicines for treating ailments, such as digestive issues and headaches, is expanding the application of spearmint oil in both medical and wellness markets.

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