The global mint market size was estimated at USD 3.72 billion in 2023 and is projected to reach USD 5.94 billion by 2030, expanding at a CAGR of 6.9% from 2024 to 2030. The market’s growth especially in the peppermint oil segment is being propelled by evolving consumer preferences and emerging industry trends.
A key growth driver is the increasing demand for natural and organic products across industries such as food, cosmetics, and pharmaceuticals. With rising health awareness, consumers are shifting away from synthetic ingredients in favor of plant-based alternatives. This trend enhances the attractiveness of peppermint oil, prized for its natural flavor and therapeutic benefits. The growing popularity of aromatherapy has further supported market growth, with peppermint oil widely used for its refreshing scent and potential wellness effects, including stress relief and digestive support.
However, the market also faces certain challenges. Potential health concerns—such as allergic reactions or digestive discomfort from excessive consumption—can influence consumer perceptions and limit frequent use. Despite these restraints, the mint market holds promising growth potential, backed by ongoing product innovation and strong consumer interest in health-oriented, eco-conscious solutions.
Key Market Insights:
- Asia Pacific emerged as the largest regional market for mint, generating USD 1.57 billion in revenue in 2023, and is projected to grow at a CAGR of 7.3% from 2024 to 2030.
- The North America mint market is anticipated to expand at a CAGR of 6.5% over the forecast period.
- By product, the spearmint segment dominated with revenue exceeding USD 1.68 billion in 2023.
- By application, the food & beverage segment led the market with a revenue of USD 1.38 billion in 2023.
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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 broad mix of global and regional companies, each contributing to its dynamic growth. Prominent players include International Flavors & Fragrances Inc. and Young Living Essential Oils, both recognized for their extensive product lines and robust market presence. These companies serve a wide array of applications, ranging from food and beverages to personal care and pharmaceuticals, positioning them as influential forces in the global mint industry.
Key Players
- 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 experiencing steady growth, fueled by rising consumer preference for natural and plant-based ingredients. Increasing use of mint in food, beverages, cosmetics, and wellness products continues to drive demand, especially for peppermint oil. The trend toward aromatherapy and holistic health also supports market expansion. However, concerns around potential side effects from excessive mint consumption may limit wider adoption. Despite these challenges, continued innovation and strategic positioning by key players are expected to sustain market momentum in the coming years.
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