India Mentha Oil Market

Mentha oil production in India reached 40.32 thousand tonnes in 2023, experiencing a 0.75% Compound Annual Growth Rate (CAGR) between 2018 and 2023. India holds the title of being the world's largest producer of natural mentha oil, contributing to 80-85% of the global production. Additionally, India exported 15.11 thousand tonnes of menthol products (flakes and crystals) in 2023, amounting to a total value of US$ 233.34 million.

India's Significance in the Global Mentha Oil Supply

Mentha oil, derived from the Mentha arvensis plant, is a vital aromatic oil used extensively in various industries such as pharmaceuticals, cosmetics, food and beverages, and aromatherapy. India is a leading producer and exporter of mentha oil, primarily concentrated in the states of Uttar Pradesh and Bihar. The country accounts for a significant share of the global mentha oil market due to its favorable climate conditions for mentha cultivation.

India plays a crucial role in the global mentha oil supply chain, contributing a substantial portion of the world's production. Its consistent production levels and high-quality mentha oil make it a preferred supplier in the global market. The reliability of India's mentha oil supply is essential for meeting the demands of various industries worldwide.

Market Growth Factors

The India mentha oil market is a dynamic ecosystem shaped by a multitude of factors, each influencing its supply, demand, pricing, and overall trajectory:

The cultivation and production of mentha oil are susceptible to various factors, including weather conditions, soil quality, and agricultural practices. Farmers' decisions, combined with natural variables, contribute to fluctuations in cultivation areas and yields. Seasonal variations further impact production levels, resulting in periodic fluctuations in supply. These dynamics are crucial as they directly influence the availability of mentha oil in the market.

The demand for mentha oil in India is twofold - driven by domestic consumption and export demand. Domestically, industries such as oral & personal care, pharmaceuticals, food and beverages flavoring industry, and aromatherapy rely on mentha oil as a key ingredient. Internationally, India is a significant exporter of mentha oil, catering to markets in Europe, North America, and the Asia-Pacific regions. Understanding these dual dynamics is essential for stakeholders to strategize effectively and balance supply chains accordingly.

Mentha oil prices exhibit volatility, influenced by a myriad of factors. Global market trends, including demand-supply dynamics, geopolitical tensions, currency fluctuations, and trade policies, contribute to price fluctuations. Moreover, seasonal variations in production lead to predictable fluctuations, with prices typically spiking during periods of low supply and declining during peak harvesting seasons. Managing price volatility is imperative for market participants to ensure stability and profitability.

Market Drivers

  ■   Increasing Demand for Natural Ingredients: With growing consumer preference for natural and organic products, the demand for mentha oil, as a natural aromatic ingredient, has surged.
  ■   Expansion of End-use Industries: Industries like pharmaceuticals, cosmetics, and food and beverages have witnessed rapid growth, driving the demand for mentha oil.
  ■   Government Support: Initiatives and subsidies provided by the Indian government to promote mentha cultivation have stimulated production levels.

Market Restraints

  ■   Weather Vulnerability: Mentha cultivation is sensitive to weather conditions, and factors like excessive rainfall or drought can impact the crop yield, leading to fluctuations in supply.
  ■   Price Volatility: Mentha oil prices are susceptible to fluctuations due to factors such as changes in demand, supply disruptions, and currency fluctuations. Mentha oil prices in India are hovering in the range of USD 10-12 per kg in the last couple of years.
  ■   Regulatory Challenges: Compliance with regulations regarding quality standards and export/import regulations can pose challenges for market players.

Market Challenges

  ■   Increasing Competition: The mentha oil market faces stiff competition from synthetic alternatives and other natural sources of mint oils, impacting its market share.
  ■   Supply Chain Bottlenecks: Challenges in the mentha oil supply chain, including transportation constraints, storage issues, and inefficiencies in distribution channels, can hinder market growth.
  ■   Sustainability Concerns: Sustainable cultivation practices and environmental concerns regarding mentha cultivation need to be addressed to ensure the long-term viability of the industry.

Trend of Natural and Synthetic Mentha Oil Demand

  ■   Rise in Natural Mentha Oil Demand: Consumer preference for natural products and the shift towards clean label ingredients drive the demand for natural mentha oil.
  ■   Competition from Synthetic Alternatives: Despite the preference for natural ingredients, synthetic mentha oil alternatives continue to pose competition due to cost-effectiveness and consistency in availability and quality.

India Mentha Oil Supply/Value Chain Bottlenecks/Challenges

  ■   Cultivation Challenges: Issues related to pest management, soil fertility, and water availability can affect mentha cultivation.
  ■   Processing and Extraction: Ensuring efficient extraction processes and maintaining product quality during processing are critical challenges.
  ■   Storage and Transportation: Proper storage facilities and efficient transportation networks are essential to prevent spoilage and ensure timely delivery of mentha oil to markets.

End-use Industries

  ■   Pharmaceuticals: Mentha oil is widely used in pharmaceutical formulations for its therapeutic properties.
  ■   Oral & Personal Care Products: The fragrance and cooling properties of mentha oil make it a popular ingredient in oral care and personal care products.
  ■   Food and Beverages Flavoring: Mentha oil is used as a flavoring agent in various food and beverage products, including confectionery, chewing gum, and beverages.
  ■   Aromatherapy: The aromatic properties of mentha oil find applications in aromatherapy and wellness products.

India Mentha Oil Market Competitive Analysis

The India mentha oil market is highly competitive, with several key players vying for market share. Companies are adopting various strategies to strengthen their position in the market and capitalize on emerging opportunities. While the market offers significant growth prospects, players need to navigate challenges effectively to sustain their competitive advantage and achieve long-term success.

Key Companies in India Mentha Oil Market include (Producers/ Processors/ Exporters)

    ■   Hindustan Mint & Agro Products Pvt. Ltd.
    ■   Vinayak Ingredients (India) Pvt. Ltd.
    ■   Aromatic & Allied Chemicals
    ■   Ultra International Ltd.
    ■   Bhagat Aromatics Ltd.
    ■   Arora Aromatics Pvt. Ltd.
    ■   Kanta Enterprises Pvt. Ltd.
    ■   Rakesh Sandal Industries
    ■   Shree Balaji Aromatics Pvt. Ltd.
    ■   Neeru Menthol Private Limited.
    ■   Herbochem Industries
    ■   Katyani Exports
    ■   Mane Kancor
    ■   Mentha and Allied Products Limited

Report Coverage

India mentha oil market report covers historical market data from 2010-2023 and projections to 2030. The report also includes supply & demand and trade (import-export) market analysis. The decision matrix analysis helped in identifying the barriers and their implications on the value chain and different factors of relative significance to the India mentha oil market are diligently tracked and their impact closely monitored for short, medium, and long-term market cycles. The report's contents cover an analysis of the aspects involved in the mentha oil market such as the parent market, the evolution of the industry, innovative technologies in the manufacturing process, supply chain, and listing of key exporters.

Scope of the Report

Report Attributes	Details
Historical Years	2010–2022
Base Year	2023
Forecast Period	2024–2030
Units	Value (US$ Million) and Volume (Tonnes)
Report Coverage	Production, Consumption, Export, and Import
Segments Covered	▪ By Type (Natural and Synthetic)   ▪ By End-use (Oral & Personal Care Products, Pharmaceuticals, Confectionery/Chewing Gums, Flavoring Industry, and Others)   ▪ By Sales (Domestic Consumption and Exports)
Geographies Covered	India
Companies Profiled	The market players include Hindustan Mint & Agro Products Pvt. Ltd., Vinayak Ingredients (India) Pvt. Ltd., Aromatic & Allied Chemicals, Ultra International Ltd., Bhagat Aromatics Ltd., Arora Aromatics Pvt. Ltd., Kanta Enterprises Pvt. Ltd., Rakesh Sandal Industries, Shree Balaji Aromatics Pvt. Ltd., Neeru Menthol Private Limited., Herbochem Industries, Katyani Exports, Mane Kancor, Mentha and Allied Products Limited, and Others.

Please request for a sample report to learn more about the report coverage (Contact us at: sales@statledger.com or +91-9226-888268).

Related Reports

  ■   China Mentha Oil Market – Trend Analysis & Forecast to 2030
  ■   USA Mentha Oil Market – Trend Analysis & Forecast to 2030
  ■   Malaysia Mentha Oil Market – Trend Analysis & Forecast to 2030

FAQs:

What is the production size of the mentha oil in India?
India produced 40.32 thousand tonnes of mentha oil in 2023.

What is the export size of the mentha Oil from India?
India exported India exported 15.11 thousand tonnes of menthol products in 2023.

Which are the major importers of processed mentha oil from India?
In 2023, the major importers of mentha oil globally included the China, USA, Singapore, the Netherlands, Japan, and France.

India Mentha Oil Market – Supply & Demand, Trade, and Competitive Landscape Analysis

1. Executive Summary
2. Introduction

2.1. Objectives & Scope of the Study
2.2. Definitions & Economic Importance
2.3. Research Methodology
2.4. Factors and Decision Matrix Analysis
2.5. Limitations & Challenges

3. Commodity/ Product/ Market Overview

3.1. Evolution/ Origin & Geographic Suitability
3.2. Mentha Crop Images
3.3. Mentha Crop Seasonality
3.4. Processing & Grading
3.5. Regulatory Analysis

4. India Country Profile
5. India Mentha Oil Market Growth Factors Analysis

5.1. Drivers and Restraints Analysis
5.2. Challenges and Opportunities Analysis
5.3. India Mentha Oil Industry SWOT Analysis
5.4. India Mentha Oil Market PESTEL Analysis
5.5. India Mentha Oil Market Porter's Five Forces analysis

6. India Mentha Oil Market: Supply Analysis

6.1. India Mentha Crop Analysis (Area and Production)
6.2. India Mentha Oil Production Trend
6.3. India Mentha Oil Production, by Type
    6.3.1. Mentha Arvensis (Japanese mint)
    6.3.2. Mentha Piperita (Peppermint)
    6.3.3. Mentha Spicata (Spearmint)

7. India Mentha Oil Market: Demand Analysis

7.1. Domestic Consumption, by Type
    7.1.1. Natural
        7.1.1.1. Mentha Arvensis (Japanese mint)
        7.1.1.2. Mentha Piperita (Peppermint)
        7.1.1.3. Mentha Spicata (Spearmint)
    7.1.2. Synthetic
7.2. Domestic Consumption, by End-use
    7.2.1. Oral & Personal Care Products
    7.2.2. Pharmaceuticals
    7.2.3. Confectionery/Chewing Gums
    7.2.4. Flavoring Industry (Food & Beverage)
    7.2.5. Others
7.3. Export/Import Demand (Natural & Synthetic)
7.4. Mentha Oil Supply Chain Analysis
7.5. India Mentha Oil Cost of Production Analysis

8. India Mentha Oil Market: Trade (Export & Import) Analysis

8.1. Mentha Oil Export Trend Analysis
8.2. Top 10 Export Destinations of India Mentha Oil

9. India Mentha Oil Market: Price Trend Analysis

9.1. Domestic Price Trend
9.2. Export Price Trend
9.3. Price Seasonality & Price Pattern Analysis
9.4. Price Events Analysis

10. Competitive Analysis

10.1. List of Key Countries Importing Mentha Oil from India
10.2. List of Key Companies Exporting & Importing Mentha from India
10.3. Company Profiles
    10.3.1. Hindustan Mint & Agro Products Pvt. Ltd.
    10.3.2. Vinayak Ingredients (India) Pvt. Ltd.
    10.3.3. Aromatic & Allied Chemicals
    10.3.4. Ultra International Ltd.
    10.3.5. Bhagat Aromatics Ltd.
    10.3.6. Arora Aromatics Pvt. Ltd.
    10.3.7. Kanta Enterprises Pvt. Ltd.
    10.3.8. Rakesh Sandal Industries
    10.3.9. Shree Balaji Aromatics Pvt. Ltd.
    10.3.10. Neeru Menthol Private Limited.
    10.3.11. Herbochem Industries
    10.3.12. Katyani Exports
    10.3.13. Mane Kancor
    10.3.14. Mentha and Allied Products Limited

11. Conclusion
12. Appendix

Table 1: India Mentha Oil Production Volume (Tonnes) (2010-2030)

Table 2: India Mentha Oil Production, Value (Tonnes) (2010-2030)

Table 2: India Mentha Area, (2010-2030)

Table 3: India Mentha Oil Market, Demand Volume Details (Volume) (2015-2025)

Table 4: India Mentha Oil Production Analysis, by State (2010-2022)

Table 5: India Mentha Oil Market, By End-use (Volume) (2015-2025)

Table 6: India Mentha Oil Export Trend, by Value (2010-2030)

Table 7: India Mentha Oil Export Trend, by Volume (2010-2030)

Table 8: India Mentha Oil Export Destinations by Volume (in %share) (2015-2023)

Table 9: India Mentha Oil Export Destinations by Value (in %share) (2015-2023)

Table 10: Top 10 Countries Importing Mentha Oil from India, by Value

Table 11: Top 10 Countries Importing Mentha Oil from India, by Volume

Table 12: India Mentha Oil Export Trend, By Type (2010-2030)

Table 13: Top 10 Companies Importing Mentha Oil from India, by Value

Table 14: Top 10 Companies Importing Mentha Oil from India, by Volume

Table 15: India Domestic Mentha Oil Market Price Trend (2010-2030)

Table 16: India Mentha Oil Export Market Price Trend, FoB (2010-2023)

Table 17: USA Mentha Oil Import Trend (2010-2023)

Table 18: China Mentha Oil Import Trend (2010-2023)

Table 19: Singapore Mentha Oil Import Trend (2010-2023)

Table 20: Netherland Mentha Oil Import Trend (2010-2023)

Table 21: Industry Recent Developments

Table 22: Key Companies involved in Global Mentha Oil Trade

Figure 1: Mentha Crop Seasonality Trend

Figure 2: India Population Dynamics, 2023

Figure 3: India Essential Oils Production Trend Analysis

Figure 4: India: GDP Annual Growth & Exchange Rate Trend

Figure 5: Global Mentha Oil Market – An Overview

Figure 6: Global and India Mentha Oil Production Trend Comparison

Figure 7: India Mentha Oil Production Trend, 2010-2030 (Volume)

Figure 8: India Mentha Crop Area Trend, 2010-2030 (Volume)

Figure 9: India Mentha Oil Production Trend, by State, 2010-2030  

Figure 10: India Domestic Consumption of Mentha Oil, 2015-2030 (Volume)

Figure 11: India Domestic Processing of Mentha Oil, 2015-2030 (Volume)

Figure 12: India Mentha Oil Supply Channel Framework

Figure 13: Mentha Oil Product Variants Available in the Market

Figure 14: Global Mentha Oil Production, Volume, 2015-2023

Figure 15: Global Imports of Mentha Oil, Value (USD Million), 2015-2023

Figure 16: India Mentha Oil Export, Value, 2010-2030

Figure 17: India Mentha Oil Export, Volume, 2010-2030

Figure 18: India Mentha Oil Export Destinations Share (by Volume), 2023

Figure 19: India Mentha Oil Export Trend, by Value & Volume, 2010-2030

Figure 20: Top 10 Countries Importing Mentha Oil from India, %share by Value

Figure 21: Top 10 Countries Importing Mentha Oil from India, %share by Volume

Figure 22: USA Imports of Mentha Oil, by Value & Volume (2015-2023)

Figure 23: China Imports of Mentha Oil, by Value & Volume (2015-2023)

Figure 24: Singapore Imports of Mentha Oil, by Value & Volume (2015-2023)

Figure 25: Netherlands Imports of Mentha Oil, by Value & Volume (2015-2023)

Figure 26: India Mentha Oil Price Trend, Annual Average Prices, 2015-2030

Figure 27: India Price Trend, Monthly Average Prices, 2015-2023