Wilmington, Delaware, Feb. 25, 2025 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Spearmint Oil Market by Source (Natural, and Organic), Form (Absolute, Concentrates, and Blends), and Application (Therapeutics, Aromatherapy, Food and Beverages, Cosmetics, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the "spearmint oil market" was valued at $180.1 million in 2023, and is estimated to reach $377.5 million by 2033, growing at a CAGR of 7.7% from 2024 to 2033.
Prime determinants of growth
One of the key drivers of the spearmint oil market is rise in application of spearmint oil in pharmaceuticals and cosmetics. The oil is valued for its antimicrobial and soothing properties, making it a preferred ingredient in skincare, haircare, and oral care products. With growing consumer preference for plant-based and chemical-free personal care products, major companies are formulating new spearmint-based products to meet the demand. In addition, the pharmaceutical sector is incorporating spearmint oil into medicines for digestive disorders and stress relief, further propelling the market growth.
Rise in cultivation of spearmint to meet industrial demand, particularly in the U.S., India, and China, also supports market expansion. Farmers and producers are adopting advanced distillation and extraction techniques to enhance oil yield and quality. In addition, rise of e-commerce and direct-to-consumer sales has made spearmint oil more accessible globally, allowing small and medium enterprises to reach a broader customer base. These factors collectively contribute to the steady growth of the spearmint oil market.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2022 | $180.1 Million |
| Market Size in 2032 | $377.5 Million |
| CAGR | 7.7% |
| No. of Pages in Report | 337 |
| Segments Covered | Source, Form, Application, and Region |
| Drivers |
|
| Opportunity | Volatility of supply and price fluctuations |
| Restraint | Growing wellness trends |
The natural segment is expected to lead the trial by 2033
Based on source, the natural segment held the highest market share in 2023, accounting two-third of the global spearmint market revenue and is likely to retain its dominance during the forecast period. Rise of the wellness and self-care trends has significantly influenced the demand for natural spearmint oil. As people prioritize mental and physical well-being, the use of essential oils in aromatherapy and holistic health practices has increased. Spearmint oil, known for its calming, refreshing, and cooling effects, is sought after in essential oil blends, massage oils, and bath products. Spearmint oil is also widely used in skincare products for its antimicrobial and anti-inflammatory properties. This shift towards natural wellness practices has made essential oils, including spearmint oil, integral to daily self-care routines.
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The blends segment dominated the market in 2023
On the basis of form, the blends segment dominated the global spearmint oil market in 2023. The demand for blend spearmint oil is increasing due to its versatility and the growing trend of personalized wellness and natural ingredients. As consumers continue to prioritize holistic health and seek out natural alternatives, blended essential oils offer a way to combine the benefits of multiple oils into a single product. Blend spearmint oil, when mixed with complementary oils such as lavender, eucalyptus, or peppermint, can enhance its soothing, refreshing, and therapeutic effects. This makes it ideal for use in aromatherapy, where it can help promote relaxation, relieve stress, boost mental clarity, and even alleviate headaches.
The aromatherapy segment dominated the market in 2023
On the basis of application, the aromatherapy segment dominated the global spearmint oil market in 2023. The demand for spearmint oil in aromatherapy applications is increasing due to its growing association with mental wellness, stress relief, and cognitive enhancement, all of which are in high demand in today's fast-paced, high-stress society. As more individuals seek natural alternatives to manage anxiety, stress, and mental fatigue, spearmint oil has gained popularity for its refreshing, uplifting, and mood-boosting properties. When diffused, spearmint oil helps promote mental clarity, focus, and emotional balance, making it ideal for those looking to improve concentration, relieve stress, or alleviate symptoms of burnout. Rise in preference for holistic and natural wellness practices has made spearmint oil a valuable tool in aromatherapy, as people are turning away from synthetic products in favor of plant-based solutions for emotional and mental well-being.
North America accounted for the largest share in 2023
Region-wise, North America dominated the global spearmint oil market in 2023. Rise in demand for spearmint oil in the North America region, particularly in the U.S., Canada, and Mexico, is driven by rise in preference for natural and holistic wellness solutions. As consumers become more health-conscious, they are increasingly seeking plant-based remedies to address common health issues. Spearmint oil, known for its digestive, pain-relieving, and calming properties, is widely recognized as a safe, effective alternative to pharmaceutical treatments. In the U.S., where there is a strong culture of self-care and preference for organic and natural products, spearmint oil fits seamlessly into this trend. It is being incorporated into a wide range of products, from digestive health supplements to topical pain relief creams, boosting the demand for spearmint oil in the North America region.
Leading Market Players:
- AOS Products Pvt. Ltd.
- Arora Aromatics Pvt. Ltd.
- Sydney Essential Oil Company
- Ultra International B.V.
- Vishal Essential Oils & Chemicals
- Berje Inc.
- Robertet Group
- De Monchy Aromatics
- J.C.Buck
- Kunshan Odowell Co., Ltd.
The report provides a detailed analysis of these key players in the global spearmint oil market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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