Global Mints Market Overview
The Global Mints Market size is estimated to reach $7.2 billion by 2027. Furthermore, it is poised to grow at a CAGR of 4.1% over the forecast period of 2022-2027. Mint is a kind of aromatic herb originated by various species of the mint plant. It's a common ingredient in Turkish, Indian, Vietnamese, Greek, and Persian dishes. Mint is used in a variety of delicious baked treats, savory sauces, and drinks, from hot mint tea to cool mint juleps as well as mojitos. Mint Leaves are commonly bright to dark green in color but are available in many varieties such as purple, gray-green, or even pale yellow. Peppermint, curly mint etc. are some varieties of mint that help to relieve many diseases such as migraine, headaches, as well as stomach and also act as a muscle relaxant. Lamiaceae is also a part of the mint family which is rich that makes them useful for cooking purposes. Spearmint is very similar to peppermint and contains vitamins, nutrients, and antioxidants. Mint plants grow quickly and can quickly become invasive. They can grow to 60–90 cm in height and will continue to develop for many years. Mint is used to season meat, fish, sauces, soups, stews, vinegar, tea, tobacco, and cordials. Mint oil is used to make natural menthol which is used to flavor mouthwashes, toothpaste, and pharmaceutical products. Recently, researchers found that plant distillation waste provides benefits on yield and also helps to increase the essential oil content of peppermint and spearmint crops. The robust growth in the end-use industries such as food & beverages, cosmetics and pharmaceutical are some of the factors driving the Mint Industry forward in the projected period of 2022-2027.
Global Mints Market Report Coverage
The report: “Global Mints Market Forecast (2022-2027)", by Industry ARC covers an in-depth analysis of the following segments of the Global Mints Industry.
By Type- Peppermint, Spearmint, Applemint, Watermint and Others.
By Application- Food & Beverages, Pharmaceuticals, and Cosmetics.
By Distribution Channel- Online, and Offline.
By Geography- North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, and Rest of South America), and Rest of the World (the Middle East, and Africa).
Key Takeaways
- Geographically, Asia-Pacific held a dominant market share in the year 2021. It is owing to increasing consumer preference towards mints as it provides various health benefits and growing innovation in products with various flavors gives rise to the intake of mints. Moreover, people are becoming more conscious of their health that further surging the sales of mint and thus increasing its usage in many sugar free confectionery products. China and India are some of the largest mint producers in the world and the production of mint increases owing to its medicinal and aromatic uses.
- The robust growth in the end-use industries such as food & beverages, cosmetics, and even pharmaceutical are some of the factors driving the Mint Market. However, the rising side effects of consuming excessive mints are some of the factors impeding the market growth.
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A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Global Mints Market Report.
Global Mints Market- Geography (%) for 2021
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Global Mints Market Segmentation Analysis- By Type
The global mints market based on type can be further segmented into Peppermint, Spearmint, Applemint, Watermint, and Others. Peppermint held a dominant market share in the year 2021. Peppermint oil is widely used in cosmetics, including body lotions, moisturisers, and other creams. Peppermint oil has become more popular in aromatherapy owing to its calming, memory-boosting, and pain-relieving benefits. Peppermint oil is used in a variety of goods, including air diffusers, room fresheners, and sprays, as well as toothpastes, shampoos, soaps, and mouth fresheners. Peppermint oil is predicted to grow in popularity in the food and beverage and aromatherapy industries. The rising prevalence of diseases like dengue fever has increased the demand for mosquito repellents containing natural active components such as peppermint oil which further gives rise to the demand for peppermint.
However, Spearmint is estimated to be the fastest-growing, with a CAGR of 4.7% over the forecast period of 2022-2027. Owing to its easy binding nature it is widely used as an ingredient in continental foods. Spearmint flavors are used in cakes, cookies, candies and various other confectionery products and nowadays people mostly prefer mint aromas owing to its fresh aromatic flavors that surging the adoption of spearmint in many industries. Spearmint helps in digestion, oral hygiene, and occasional stomach distress as well as boosts respiratory circulation, immunity, and protects against free radicals which gives rise to the use of spearmint in the medical industry.
Global Mints Market Segmentation Analysis- By Application
The global mints market based on application can be further segmented into Food & Beverages, Pharmaceuticals, and cosmetics. Food and Beverages held a dominant market share in the year 2021. Recently, people are using mint flavors in various multi cuisines dishes as it provides different tastes and flavors in food which attracts consumers. Moreover, mints are also used in various alcoholic and non-alcoholic beverages such as cocktails, mocktails, and many others. The trend of pubbing increases among youth which gives rise to the usage of mint in various food and beverages. Predominantly, the demand has been also created by the bakery and confectionery sub-segment as it heavily utilizes the ingredient as it enhances the overall taste- and smell of the product. Bakery consumers in the latest report disclose that 89% of the consumers said the smell of bakery items make them happy and delighted, while around 63% of the consumers said that it evoked happy memories.
However, Pharmaceuticals is estimated to be the fastest-growing, with a CAGR of 5.2% over the forecast period of 2022-2027. Mint provides various health benefits that increase its usage in making various medicines. According to Mentha Industry Association, the demand for mint oil increases in the pharmaceutical industry that further increasing the production of mint for medicinal purposes.
Global Mints Market Segmentation Analysis- By Geography
The global mints market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. Asia-Pacific held a dominant market share of 45% in the year 2021 as compared to its other counterparts. It is owing to the increasing consumer preference towards mints as it provides various health benefits and growing innovation in products with various flavors gives rise to the intake of mints. Moreover, people are becoming more conscious of their health that further surging the sales of mint and thus increasing its usage in many sugar free confectionery products. China and India are some of the largest mint producers in the world and the production of mint increases owing to its medicinal and aromatic uses. In 2020, India produces 90% of the world’s mint supply exports 75% of its output and the total production of mint in India is estimated to cover 3,00,000 hectares of farmlands. Owing to such reasons, the estimated period of 2022-2027 would prove beneficial for Asia-Pacific.
Increasing concerns among the population to improve oral hygiene have readily aided the market growth.
The growing adoption of using mint in different cuisines with food, beverages, and snacks is contributing the market growth.
Mint is an increasingly popular condiment that is used in a variety of cuisines to give foods a distinct flavor and improve their flavor profile. Mint can be used as a garnish on meat with a spicy and earthy flavor to add a cold zing, or it can be used in dips to serve with various types of chips. Mint is often used in bakery dishes and sweets to create a cool but sweet flavor when combined with chocolate and other sweeter components. As a result, it is commonly used to cool beverages in hotter areas to produce a refreshing and cooling sensation to the body while also lowering sweat levels and body temperature. As a result, these diverse applications will contribute to market growth over the projection period. Furthermore, the usage of mint in different foods and beverages helps to provide various health benefits which increase its adoption among chefs, restaurants, and people globally.
Rising side effects of consuming excessive mints are some of the factors impeding the market growth.
Mints are considered a healthy ingredient which increases the use of mints in many applications. Owing to its excessive consumption cause many serious issues among people. Mint tea, whether made with fresh or dried leaves, can be harmful to a pregnant woman. A large number of mint leaves can really cause a miscarriage if consumed in large quantities. Also, menthol oil causes breathing problem among infants which reduce the use of mint. Recently, companies are also reducing the use of mint in many products that further hampering the market growth.
Global Mints Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the market. Global Mints top 10 companies include:
- Ferndale Confectionery Pty. Ltd.,
- Ferrero International SA,
- Herbion International Inc.,
- Mondelez International, Inc.,
- Nestec, Inc.,
- Perfetti Van Melle SpA,
- Procter & Gamble Company,
- Soylent Nutrition Inc.,
- Hershey Company,
- Wm. Wrigley Jr. Company.
Recent Developments
- In March 2021, Perfetti Van Melle SpA launched center fresh mints which is made using compressed mint technology with zinc lactate trapped in the central layer. This product is clinically proven to offer intense cooling launched and freshness that lasts for 60 minutes.
- In November 2021, Center fresh – the iconic brand from confectionery major Perfetti Van Melle India – is synonymous with its fresh technique to consumer engagement as it is with the brand placement of ‘fresh breath confidence’. In line with this technique, Center fresh declares its marquee collaboration with Dharma 2.0 for a range of two digital films. The campaign collaboration has been promoted by Wavemaker India, with backing on the creative front from Ogilvy India.
- In December 2021, newly introduced start-up business Mintly has kicked off a series of eco-friendly oral wellness products. Female founded with the support of Ignite Venture Studio, the Mintly portfolio involves a novel-format toothpaste tablets, mint lozenges with probiotics, and eco options for both toothbrushes and floss targeted at advancing mouth health. The product series also strives at confronting the single-use plastic issue, with the items packaged in glass and aluminium, which is reusable and recyclable.
Relevant Titles
Global Mint & Menthol Market- Forecast (2022-2027)
Report Code- FBR 90942
Essential Oils Market- Forecast (2022-2027)
Report Code- HCR 0400
