Mint Extracts and Flavors Market was valued at USD 1.25 Billion in 2022 and is projected to reach USD 1.85 Billion by 2030, growing at a CAGR of 5.6% from 2024 to 2030.
As we look toward 2023 to 2033, the outlook for mint extracts and flavors continues to evolve. The market is expected to experience steady growth, albeit at a more cautious pace compared to the rapid demand growth observed in the previous five years. One of the primary drivers of this ongoing demand is the increasing health-consciousness of consumers worldwide. The global focus on clean-label products, which contain natural and recognizable ingredients, continues to propel the need for mint extracts in various products. Additionally, as consumer awareness about sustainability grows, there is a rise in the demand for ethically sourced and eco-friendly mint products.
The food and beverage industry will remain a dominant player in the mint extracts market, with mint flavorings increasingly used in confectionery, beverages, and even savory foods. There is a growing trend toward mint-based beverages, such as flavored waters, cocktails, and energy drinks, which cater to the modern consumer's desire for fresh, refreshing options. Furthermore, the expanding demand for mint flavors in the pharmaceutical and personal care sectors will also contribute to the market's steady growth. Mint extracts, with their cooling and soothing properties, are widely used in oral care products, cough syrups, and even skincare formulations.
The rise of plant-based diets and the growing popularity of vegan and vegetarian products are expected to open new opportunities for mint flavorings in alternative food products. As the world increasingly moves toward sustainable practices, the adoption of innovative extraction techniques to produce mint extracts with minimal environmental impact will be pivotal in shaping the market’s future. Market players are likely to invest in research and development, exploring new ways to enhance the purity and intensity of mint extracts.
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The mint extracts and flavors market has experienced significant changes between 2018 and 2022, with demand driven by various industries, including food and beverages, pharmaceuticals, and cosmetics. This period saw increased interest in natural and organic mint flavors, with consumer preferences leaning toward healthier, fresher ingredients. The global market witnessed a surge in the production of mint extracts, which are crucial in enhancing flavors in a wide range of products. The growing inclination toward wellness, particularly in the form of mint-infused products like teas, candies, and essential oils, was a key factor fueling this demand.
McCormick
Castella
Nielsen-Massey
Frontier
Lochhead Manufacturing
Steenbergs
Cook Flavoring
LorAnn
C.F. Sauer
McCormick
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Mint Extracts and Flavors Market
Food Processing Industry
Commercial
Residential
Based on Types the Market is categorized into Below types that held the largest Mint Extracts and Flavors market share In 2023.
Liquid
Powder
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Mint Extracts and Flavors Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Mint Extracts and Flavors Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Mint Extracts and Flavors Market, By Type
6. Global Mint Extracts and Flavors Market, By Application
7. Global Mint Extracts and Flavors Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Mint Extracts and Flavors Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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