About Menthol
Menthol is an organic compound whose chemical formula is C10H20O that occurs naturally in mint and some other plants. It can be extracted from the leaves by distillation, and it can be made synthetically. Pure menthol is a crystalline solid. Menthol market is expected to mark significant growth over forecasted period owing to increasing consumers spending on high medical and nutritional value, providing decongestant formulations for throat and chest and cooling effect in personal care products. There has been significant rise in 80% of African-American smokers use mentholated cigarettes, compared to less than 30% of Caucasian smokers in United States alone in 2018, the future for methanol looks promising. Further, increasing demand for the synthetic methanol expected to drive the market growth over the forecasted period.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 5.9% |
The competitive landscape is characterized by ongoing product innovation, strategic partnerships, and acquisitions aimed at expanding market presence and meeting evolving customer needs. As the demand for Menthol continues to grow, competition among market players is expected to intensify, driving further innovation and advancements in the field. Analyst at AMA Research estimates that India Vendors will contribute the maximum growth to Global Menthol 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.
Agson Global (India), Symrise AG (Germany), Nantong Menthol Factory (China), Takasago (Japan), Tienyuan Chem (Singapore), Arora Aromatics (India), Fengle Perfume (China) and Swati Menthol & Allied Chem (India) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Nectar Lifesciences (India), Bhagat Aromatics (India), KM Chemicals (India), Silverline Chemicals (India) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Menthol market by Type (Natural Type and Synthetical Type), Application (Oral Hygiene, Pharmaceuticals, Tobacco and Confectionaries) and Region.
On the basis of geography, the market of Menthol 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). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement.
Influencing Trend:
Increasing demands of menthol at Asia-Pacific regions
Market Growth Drivers:
Increase Number of Urbanization Leads to Boost the Menthol Market. and Rapid Demand of Personnel Care Products.
Challenges:
Limitation Due to Government Regulations. and Fluctuation of Raw Materials is Anticipated to Challenge the Market.
Restraints:
High Cost Associated Within Menthol. and Side Effects Associated Within Menthol Products.
Opportunities:
Rising Demand for Reduce Itching And Mouth Irritation. and Upsurge Demand of Synthetic Menthol.
Market Leaders and their expansionary development strategies
In March 2023, Altria Group, Inc., announced that we have entered into a definitive agreement to acquire NJOY Holdings, Inc., for approximately USD 2.75 billion in cash payable at closing (Transaction). The Transaction terms include additional USD 500 million in cash payments that are contingent upon regulatory outcomes with respect to certain NJOY products.
In May 2019, TasteTech team up with BASF, where its launched a new line of powdered L-menthol in three formats. It also offers natural and synthetic menthol which are applicable in different food industry.
“According to Food & Drugs Association, its plan to propose a ban on menthol cigarettes, including a ban on sales of most flavored e-cigarettes, except menthol and mint, at retail stores and gas stations across the Canada region.”
Key Target Audience
Menthol Manufacturers, Menthol Traders, End-Use Market Participants of Different Segments of Menthol, Government and Research Organizations, R&D Institutions and Others
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.