Mint extract is obtained from the leaves of Mentha plant. Mint extract is used as flavoring and nutraceutical agent since Grecian times. Mint extract has a soothing aroma and taste. The mint extract is also us as a nutraceutical to treat digestive disorders, nausea, respiratory problems and to increase alertness. The prolonged use of the mint extract has made it a widely used herbal extract. This produces a high opportunity to capitalize by the manufacturers, as mint extract added products have a global demand. Alternative and herbal medicine market is on a rise and hence, the players of the mint extract market are anticipated to be rewarded because of it.
Based on variety, the mint extract can be segmented into spearmint, orange mint, pineapple mint, peppermint, and chocolate mint. The different names of the mint extracts are because of the smell and taste. The mint extract of peppermint is used the most of them all because of its strong smell and taste.
Based on the application the mint extract market can be segmented into food and beverage, pharmaceutical, personal care, and household products. In food and beverage, the mint extract is used as flavoring and dressing agent. In pharmaceutical, the mint extract is used to treat bad breath, indigestion, nausea, and gynecological disorders. In personal care, the coolness or numbing effect is use in different products by adding mint extract. In household products, the mint extract is used as a pest repellent in sprays and cleaners.
Mint Extract Market: Drivers and Restraints:
Upcoming scientific studies have open up lot of application of the mint extract and this will act as a driver for the mint extract market. Also, a mint extract is already a versatile herb which can be used in a lot of industries with very little modification in the process and hence, a single manufacturer can target a lot of consumer based industries of the mint extract. Global consumption of the mint extract product will give the local manufacturers a chance to venture into the global market. The production of the mint extract is simple and mint plants are not susceptible to pest invasion and hence gives a manufacturer a good yield and brings down the manufacturing cost.
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Mint Extract Market: Region-wise Outlook:
Asia-Pacific is the largest producer of the mint extract market, with India alone having a value share of approx. 40% globally in the year 2015. Northern America and Europe stands as the largest consumer of mint extract market. The Middle East and Africa is anticipated to be a strong market region in terms of consumption in near futures.