According to a new report, published by KBV research, The Global Spearmint Oil Market size is expected to reach $382.08 million by 2031, rising at a market growth of 7.4% CAGR during the forecast period.
The Organic segment registered a CAGR of 7.9% during (2024 - 2031). The rising awareness regarding the health benefits of organic products and the growing trend of clean-label and sustainably sourced ingredients have fuelled demand for organic spearmint oil. Consumers increasingly seek pesticide-free and non-GMO alternatives, particularly in the food, cosmetics, and pharmaceutical sectors.
The Blends segment is leading the Global Spearmint Oil Market by Form in 2023; thereby, achieving a market value of $164.6 million by 2031. Blended spearmint oils are increasingly popular in the food & beverage, cosmetics, and household care industries due to their affordability and versatility. These blends combine spearmint oil with other essential oils or carrier oils, making them suitable for a wider range of applications, including flavoured products, diffusers, and therapeutic formulations. The rising adoption of essential oil blends for relaxation, stress relief, and home fragrances has further propelled demand. With ongoing innovations in product formulations and expanding consumer interest in multi-functional essential oil products, the blends segment is expected to grow steadily.
The Cosmetics segment is anticipating a CAGR of 7.9% during (2024 - 2031). Spearmint oil is extensively used in skincare, haircare, and personal care products due to its antimicrobial, anti-inflammatory, and soothing properties. It is commonly found in toothpaste, mouthwashes, shampoos, and skincare formulations, offering freshness, acne control, and scalp nourishment. The rising demand for natural and herbal-based cosmetics has further driven the adoption of spearmint oil in this sector. Consumers increasingly seek chemical-free beauty and personal care products, so the cosmetics segment is poised for continued growth.
Full Report: https://www.kbvresearch.com/spearmint-oil-market/
The North America market dominated the Global Spearmint Oil Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $125.17 million by 2031. The Europe market is experiencing a CAGR of 7% during (2024 - 2031). Additionally, The Asia Pacific market would exhibit a CAGR of 7.9% during (2024 - 2031).
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