Peppermint Oil Market Outlook And Key Companies Involved
The use of Peppermint Oil Fragrance is suggested by the therapist to improve memory and enhance readiness and is also used as a natural insect repellent. It is mostly cultivated in India, Italy, the U.S., Japan, and UK. It is extracted from fresh plant leaves using a steam refining process.The peppermint oil market was valued at $331.70 million in 2021, and is estimated to reach $658.2 million by 2031, growing at a CAGR of 6.6% from 2022 to 2031.
Request The Free Sample PDF Of This Report: https://www.alliedmarketresearch.com/request-sample/14551
Over the last few years, consumer awareness regarding herbal products and food is on the rise. Most of the packaged food available in the market contains a variety of chemicals, some of which are very harmful to health, such as preservatives and flavor additives. Moreover, some preservatives are linked with unfavorable effects, which can cause unpleasant reactions in consumers who are sensitive to a particular preservative or possess a potential increased risk for cancer all such factors results in the peppermint oil market trends.
Key findings of the study
By product type, natural peppermint oil had the largest market share in 2021 and is further expected to grow with the highest CAGR during the forecast period.
By application, food & beverage is the most consumed form of peppermint oils; however, the usage of peppermint oils in cleaning & home products is expected to rise in the future.
By distribution channel, the most common method of purchase of peppermint oils is via direct distribution channels while retail distribution channels are gaining more popularity for peppermint oil purchase.
By region, North America is the largest consumer of peppermint oil products; however, Asia-Pacific is expected to grow at the highest CAGR during the forecast period.
Enquire Before Purchasing This Report: https://www.alliedmarketresearch.com/purchase-enquiry/14551
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.