The global Menthol Market size was USD 4.8 billion in 2022, and is expected to reach a value of USD 9.3 billion in 2032, and register a revenue CAGR of 5.8% during the forecast period. The market revenue growth is expanding due to several factors, including rising consumer desire for natural and herbal products, rising demand for menthol-based products in the food and beverage and pharmaceutical industries, and rising popularity of personal care products.
Menthol is widely used in the pharmaceutical sector due to its anti-inflammatory, analgesic, and decongestant effects. Menthol is frequently used to manufacture throat lozenges, cough and cold remedies, and pain relievers. Asthma and chronic obstructive pulmonary disease (COPD) are two respiratory conditions whose incidence is rising, increasing the demand for menthol-based inhalers and respiratory products. Creating topical analgesics and gels for sports injuries uses menthol, another factor in the market's expansion.
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Top Leading Players:
- Arora Aromatics Pvt. Ltd.
- Bhagat Aromatics Ltd.
- Nantong Menthol Factory Co. Ltd.
- Takasago International Corporation
- BASF SE
- Mentha & Allied Products Pvt. Ltd.
- Agson Global Pvt. Ltd.
- Neeru Enterprises
- Warner Graham Company
- Barnet Products Corporation
Menthol Market Upcoming Growth:
Here are some factors that were contributing to the growth of the menthol market:
- Growing demand from the pharmaceutical industry: Menthol is widely used in the pharmaceutical industry for its cooling and soothing properties. It is used in various products such as topical analgesics, cough and cold medicines, and oral care products. The increasing demand for these products, driven by factors like population growth, changing lifestyles, and health awareness, can drive the demand for menthol.
- Expanding applications in the food and beverage industry: Menthol is utilized as a flavoring agent in various food and beverage products such as confectionery, chewing gum, and beverages. The rising demand for flavored products, along with the desire for refreshing and cooling sensations, can contribute to the growth of the menthol market in the food and beverage sector.
- Cosmetics and personal care industry: Menthol is used in a wide range of cosmetic and personal care products, including skincare, hair care, and oral care products. Its cooling properties provide a refreshing and soothing effect. The growth of the cosmetics and personal care industry, driven by factors like beauty trends, grooming habits, and consumer preferences, can drive the demand for menthol.
Key questions covered in the global Menthol Market report:
- What is the expected market size of the global Menthol Market during the forecast period?
- What factors are expected to hamper global Menthol Market growth over the forecast period?
- What key factors are expected to drive global revenue growth between 2021 and 2028?
- Which application segment is expected to dominate other application segments over the forecast period?
- Which region is expected to dominate in terms of revenue during the forecast period?
- What are the key outcomes of Porter’s Five Forces analysis and SWOT analysis?
- Which leading players are operating in the global Polyvinyl Alcohol market?
Segments covered in the report:
Product Type Outlook (Revenue, USD Billion; 2022-2032)
- Natural
- Synthetic
Application Outlook (Revenue, USD Billion; 2022-2032)
- Oral Hygiene
- Pharmaceuticals
- Tobacco Products
- Confectionery
- Personal Care
- Others
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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