The global mint market was valued at USD 3.72 billion in 2023 and is expected to reach USD 5.94 billion by 2030, registering a CAGR of 6.9% from 2024 to 2030. Market growth, particularly within the peppermint oil segment, is being driven by evolving consumer preferences and ongoing developments across multiple end-use industries.
One of the key factors supporting market expansion is the rising demand for natural and organic ingredients in sectors such as food and beverages, cosmetics, and pharmaceuticals. As consumers become increasingly health-conscious, there is a growing shift away from synthetic additives toward plant-based alternatives. This trend has strengthened the appeal of peppermint oil due to its natural flavor profile and therapeutic properties. In addition, the increasing popularity of aromatherapy has significantly contributed to market growth, as peppermint oil is widely valued for its refreshing scent and potential benefits, including stress reduction and digestive support.
The expanding use of peppermint oil in personal care products is another important driver of market growth. Its long shelf life and stability under diverse conditions make it a preferred ingredient in skincare products such as moisturizers and anti-acne formulations. Rising disposable incomes and improving living standards in several regions have also led to increased consumer spending on premium personal care products, further boosting demand. At the same time, the food and beverage industry remains a major contributor to market growth, with mint commonly used as a flavoring agent in confectionery, chewing gum, and beverages.
Advancements in extraction technologies and increased investment in research and development are enabling manufacturers to improve product quality and explore new applications for peppermint oil. The rapid growth of e-commerce platforms has further supported market expansion by improving product accessibility for consumers worldwide. Although challenges such as limited raw material availability and strict quality standards may pose constraints, government initiatives supporting the adoption of natural ingredients are expected to create new growth opportunities. Overall, the mint market is well positioned for sustained growth as it aligns with consumer demand for health, wellness, and sustainability.
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Key Market Trends & Insights
- Regional Analysis: Asia Pacific emerged as the largest mint market, generating revenue of USD 1.57 billion in 2023, and is projected to grow at a CAGR of 7.3% from 2024 to 2030. Growth in this region is driven by increasing awareness of mint’s health benefits, particularly in countries such as China and India, where mint has a long history of medicinal use. Rising demand for sugar-free and health-oriented confectionery products is also contributing to regional market expansion.
- By Product: The spearmint segment accounted for the largest market share, with revenue exceeding USD 1.68 billion in 2023. Growth in this segment is supported by increasing consumer awareness of the digestive and respiratory benefits associated with spearmint oil. Demand is further strengthened by its widespread use in pharmaceutical formulations and food products, as well as the growing preference for natural and organic ingredients in personal care and household applications.
- By Application: The food and beverage segment held the largest market share, generating revenue of USD 1.38 billion in 2023. Mint’s refreshing taste, cooling effect, and versatility have made it a popular ingredient in beverages, candies, and chewing gum. Its ability to refresh the palate and its mild, natural flavor appeal to a broad consumer base, supporting continued growth in this segment.
Market Size & Forecast
- 2023 Market Size: USD 3.72 Billion
- 2030 Projected Market Size: USD 5.94 Billion
- CAGR (2024-2030): 6.9%
- Asia Pacific: Largest market in 2023
Key Companies & Market Share Insights
The mint market features a competitive landscape with a wide range of participants contributing to industry growth and innovation. Leading companies such as International Flavors & Fragrances Inc. and Young Living Essential Oils are notable for their strong market presence and extensive product portfolios. These firms serve diverse end-use industries, including food and beverages, personal care, and pharmaceuticals, enabling them to maintain a competitive edge in the global market.
Key Players
- International Flavors & Fragrances, Inc.
- Young Living Essential Oils
- doTerra
- Aksu Vital Natural Products and Cosmetics
- Aromaaz International
- Greenleaf Extractions Pvt. Ltd.
- Lebermuth, Inc.
- Melaleuca Inc.
- Mountain Rose Herbs
- NOW Foods
- Plant Therapy Essential Oils
- Kelvin Natural Mint Pvt. Ltd.
- Rahr Corporation
- Indesso
- Lipoid Kosmetic AG
- Berje, Inc.
- DSM
- Hindustan Mint & Agro Products
- Foodchem International Corporation
- Vinayak Ingredients (India) Private Limited
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Conclusion
The global mint market is expected to witness steady growth through 2030, driven by increasing consumer preference for natural, health-oriented, and sustainable products. Rising demand across food and beverage, personal care, and pharmaceutical applications, combined with technological advancements and expanding e-commerce channels, continues to strengthen market prospects. With Asia Pacific leading in market size and consumption, and ongoing innovation by key industry players, the mint market is well positioned to capitalize on long-term trends centered on wellness, natural ingredients, and evolving consumer lifestyles.
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