About Mints
Mints are a group of perennial herbaceous plants, belonging to the family Lamiaceae and It is extracted by steam distillation and shows potential actions like, antiallergic, antimicrobial, antioxidant, antiviral, antimycotic, titoxigenic, antifungal, antiparasitical, antiseptic, insecticidal, antitumor, and anti-inflammatory. These properties contribute to its applications and hence it is widely used in pharmaceutical, food industries, agricultural fields and is also effective in gastrointestinal tissue, respiratory system, central and peripheral nervous system. This is projected the growth of the market in the forecast period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | North America |
Unit | Value (USD Million) |
CAGR | 4.1% |
The market for Mints is highly competitive with several global as well as local players in the market. The global players are trying various strategies such as product innovation and using various marketing strategies to gain a higher market share.The Vendors having a strong hold in the market are Mondelez International Inc., Nestle SA, Ferndale Confectionery Pty Ltd , and Perfetti Van Melle Group B.V.. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Mints market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Mondelez International Inc. (United States), Nestle SA (Switzerland), Ferndale Confectionery Pty Ltd (Australia), Perfetti Van Melle Group B.V. (Netherlands), Ricola Ltd (Switzerland), Mars, Incorporated and its Affiliates (United States), The Hershey Company (United States), Ferrero International S.A. (Italy), Hint Mint Inc. (United States) and Fisherman's Friend (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are LOTTE (South Korea).
Segmentation Overview
AMA Research has segmented the market of Global Mints market by Type (Power Mints and Standard Mints), Application (Food and Pharmaceutical) and Region.
On the basis of geography, the market of Mints has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia Pacific region held largest market share in the year 2023. If we see Market by Distribution Channel, the sub-segment i.e. Supermarkets/Hypermarkets will boost the Mints market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Demand for Clean Label Ingredient Globally
Market Growth Drivers:
Growing Demand for Mints and its Flavour In Food Industry and Rising Demand for Pharmaceutical Application of the Mints
Restraints:
Presence of Unorganized Players in the Market
Opportunities:
Various Health Benefits of Mionts for Human Society Creates Opportunites for Market and Innovation in Products, New Products Development with Various Flavors
Market Leaders and their expansionary development strategies
In December 2023, The Royal Mint has partnered with the University of Hull to conduct research into sustainable packaging alternatives for acrylic capsules used to display and protect coins. The initiative aims to provide more sustainable packaging options for the UK’s oldest company by using a new AI platform that can predict the properties of new materials and optimise their composition more accurately and efficiently than current platforms.
In July 2023, Mars Wrigley launched new Galaxy Smooth Mint. The arrival of our first-ever Galaxy Smooth Mint bar offers shoppers a new flavor of our much-loved brand. We know that innovation drives the category, and shoppers often buy large block chocolate formats to enjoy sharing moments together.
Key Target Audience
Mints Manufacturers, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors and Other
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.