Natural and Synthetic Menthol Market Size, Share, Growth, and Industry Analysis by Type (Natural Menthol and Synthetic Menthol) By Application (Oral Hygiene, Medicine, Tobacco, Candy, and Others), Regional Forecast To 2031

Updated On: 08 April 2024

Natural and Synthetic Menthol Market REPORT OVERVIEW

• 
• Request a Free sample to learn more about this report

The global natural and synthetic menthol market was USD 691.6 million in 2021 and is projected to touch USD 1422.55 million by 2031, exhibiting a CAGR of 7.5% during the forecast period.

Menthol is a crystalline organic chemical that may be made artificially or organically from a variety of sources, including peppermint, maize mint, and mint oil. Due to the great medicinal and nutritional value of menthol, it is utilized in a variety of sweets, including chewing gums and candies. In addition, it is used in ointments, inhalation products, and other medications. Traditionally, mints are harvested and processed to produce menthol organically.

Farmers that prioritize the utilization of regenerative resources, soil and water conservation, and enhancing environmental quality for future generations produce organic food. Animals used to produce organic meat, poultry, eggs, and dairy products aren't administered antibiotics or growth hormones. However, changes in the climate often have an impact on the total supply of menthol and cause prospectors’ fluctuation. Over the past ten years, the demand for natural and synthetic menthol from significant end-use sectors has increased steadily.

COVID-19 Impact: Halt on Manufacturing Operations to Slower Market Growth

Consumer demand has now decreased due to a lack of labor, a tight budget, and issues with the supply chain have all impeded the provision of services. since the overall economic situation of the majority of people has been badly impacted by this epidemic. The water, energy, ecological, and food industries are all being significantly impacted by the COVID-19 epidemic. Over the course of the forecast period, the aforementioned factor is anticipated to provide challenges to the natural and synthetic menthol market revenue trajectory.                                                                       

LATEST TRENDS

"Developments of Natural and Synthetic Menthol in Various Sectors to Boost Market Growth"

The demand for natural and synthetic menthol is rising in important end-use sectors including food and beverage, medicines, and cosmetics. Numerous personal care items, including toothpaste and dental care products, include natural and synthetic menthol. The pharmaceutical industry makes substantial use of it to create over-the-counter analgesics to treat minor sprains, aches, and pains. Natural and synthetic menthol is frequently used as an antipruritic to lessen mild throat or mouth discomfort and itching. Additionally, it is utilized in first aid kits as mineral ice to treat minor skin burns as well as decongestant compositions for the chest and throat. For a cooling effect, natural and synthetic menthol is frequently used in personal care goods including hair shampoos, aftershaves, and beauty & skincare items. Synthetic menthol is purer than real menthol.

Natural and Synthetic Menthol Market Segmentation

• 
• Request a Free sample to learn more about this report

• By Type Analysis

As per the type, the market is classified as follows: Natural Menthol and Synthetic Menthol. Synthetic menthol is dominating the natural and synthetic menthol market share.

• By Application Analysis

Based on application, the market is segmented as follows: Oral Hygiene, Medicine, Tobacco, Candy, and Others. Due to the extensive use of synthetic menthol in the manufacturing of ointments and inhalation products, the medicine segment is anticipated to account for a significant portion of the natural and synthetic menthol market during the forecast period.

DRIVING FACTORS

"Replacement of Natural Menthol with Synthetic Menthol to Facilitate Market Development"

The use of alternative synthetic sources for the commercial manufacture of menthol was the focus of attempts to fulfill the expanding demand. Additionally, menthol obtained synthetically is more affordable than menthol obtained natively. Additionally, there is a plentiful supply of the basic chemicals needed to produce synthetic menthol, assuring manufacturing uniformity. As a result, synthetic menthol has become a competitive substitute for natural menthol. The majority of menthol consumed globally at the moment is natural menthol. The consumption of natural and synthetic menthol is anticipated to expand considerably quicker during the projected period.

"Demand for Synthetic Menthol to Promote Industry Progress"

The purity of synthetic menthol is comparatively greater. Additionally, the price of raw materials needed to produce natural and synthetic menthol has decreased as a result of the recent decline in crude oil prices making the cost of production more efficient. Over the past few years, there has been a greater demand for natural and synthetic menthol than there has been a genuine supply. A small number of businesses also compete in the international natural and synthetic menthol market. As a result, one of the variables that are anticipated to have an impact on the growth of the natural and synthetic menthol market is supply security.

RESTRAINING FACTORS

"Price Difference Between Synthetic and Natural Menthol to Hinder Market Growth"

Narrowing the price gap between natural and synthetic menthol will result in a decrease in demand for synthetic menthol. Given that synthetic menthol is currently more cost-effective, a price difference can only be created by rising supply or falling costs of natural menthol, which is unlikely to occur shortly. The above-mentioned factor might restrict the natural and synthetic menthol market growth.

Natural and Synthetic Menthol Market REGIONAL INSIGHTS

• 
• Request a Free sample to learn more about this report

"Increase in Demand to Propel Market Progress in North America"

There are many significant producers of foods and drinks in the Asia Pacific area, and the market for natural and synthetic menthol is predicted to be dominated by this region. Due to large sales of items including food & drinks and toothpaste, Asia Pacific held a significant portion of the worldwide natural and synthetic menthol market size. Due to the existence of two extremely popular nations, China and India, which are both expanding quickly and have rising disposable income and buying power parity, it is predicted that the market in the Asia Pacific would rise fast over the projection period. It is anticipated that this would increase demand for the natural and synthetic menthol market.

KEY MARKET PLAYERS

"Market Players Focus on New Product Launches to Strengthen Market Position"

Leading players in the market are adopting various strategies to expand their presence in the market. These include R&D investments and the launch of new, technologically-advanced products in the market. Some companies are also adopting strategies such as partnerships, mergers, and acquisitions to strengthen their market position.   

List of Market Players Profiled

• Anson Global (India)
• Symrise AG (Germany)
• CHINA Nantong Mental Factory (China)
• Takasago (Japan)
• TIEN YUAN (Singapore)
• Arora Aromatics (India)
• Anhui Fengle Perfume (China)
• Swati Menthol & Allied Chem (India)
• NecLife (India)
• Bhagat Aromatics (India)
• KM Chemicals (India)
• Silverline Chemicals (India)
• YinFeng (China)
• GREAT NATION (U.S.)
• XIANGSHENG PERFUME (China)
• BASF (Germany)
• Anhui Province Yifan Spice (China)
• Mentha & Allied Products (India)
• Neeru Enterprises (India)
• Vinayak (India)
• Hindustan Mint & Agro Products (India)
• A.G. Industries (India)
• WANHUA (China)

REPORT COVERAGE

The report covers overall market aspects, including the market segmentation based on its type and application. The report depicts a diverse group of participants, including the market and potential market leaders. Major factors that are expected to drive major growth in the market. The factors anticipated to expand the market share are also included in the report to offer market insights. The estimated growth of the market in the forecast period is also included in the report. The regional analysis is completed to explain the region's dominance in the global market. The factors hindering the growth of the market are discussed in detail. The SWOT analysis of the market is depicted in the report. It contains all-inclusive market details.