NEW YORK, May 16, 2024 /PRNewswire/ — The global mints market size is estimated to grow by USD 1.42 bn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 3.53% during the forecast period.
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Forecast period |
2024-2028 |
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Base Year |
2023 |
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Historic Data |
2018 – 2022 |
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Segment Covered |
Type (Peppermint, Spearmint, and Others), Distribution Channel (Offline and Online), and Geography (North America, Europe, APAC, South America, and Middle East and Africa) |
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Region Covered |
North America, Europe, APAC, South America, and Middle East and Africa |
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Key companies profiled |
Albanese Confectionery Group Inc., Atkinson Candy Co., Cambie, Chocoladefabriken Lindt and Sprungli AG, ChocZero Inc., Dugar Overseas Pvt Ltd., Ferndale Confectionery Pty Ltd., Ferrero International S.A., Herbion International Inc., Lotte Corp., Mars Inc., Mondelez International Inc., Nestle SA, Neurogan CBD, Perfetti Van Melle Group BV, See Candy Shop, Inc., Soylent Nutrition Inc., The Hershey Co., The PUR Company Inc., and Valeo SA |
Key Market Trends Fueling Growth
The mint market caters to health-conscious consumers seeking sugar-free alternatives for refreshing treats. Sugar-free mints, such as chewy options from Smint, offer calorie-conscious individuals a guilt-free sweet experience. These products not only prevent tooth decay but also provide oral health benefits. Natural ingredients like peppermint, spearmint, and mint oil are used in various forms, including chewing gum, mint leaves, and medicated lozenges, to cater to diverse consumer needs. Flavors like menthol, eucalyptus, and aromatic herbs are incorporated for added health benefits, such as relieving sore throats and congestion. The market encompasses a wide range of applications, from aromatherapy and multi-cuisine dishes to mosquito repellents, making mint a versatile and essential ingredient.
Market Challenges
- The global mints market faces competition from various alternatives, such as chewing gum, breath-freshening sprays, medicated lozenges, and mouthwashes. These substitutes cater to diverse consumer preferences and offer unique benefits. Chewing gum, for instance, provides a longer-lasting flavor experience, while breath-freshening sprays offer a quick, portable solution for instant breath freshening. Mint leaves, including peppermint, spearmint, and others, are used in various forms, such as oil, essence, and watermint, for oral hygiene, aromatherapy, and culinary purposes. Mints are also used in multi-cuisine dishes, aromatic herbs, mosquito repellents, and beverages like mint juleps and mojitos. Consumer groups, such as smokers, alcoholic populations, chefs, pregnant women, infants, and those suffering from sore throats or congestion, also utilize mints for their specific needs. Despite these challenges, the mints market continues to thrive due to the versatility and wide-ranging applications of mints.
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Segment Overview
This mints market report extensively covers market segmentation by
- Type
- 1.1 Peppermint
- 1.2 Spearmint
- 1.3 Others
- 2.1 Offline
- 2.2 Online
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and Africa
1.1 Peppermint- The global mint market, led significantly by peppermint and spearmint, caters to various industries and consumer preferences. In multi-cuisine dishes, peppermint and mint oil are integral ingredients, adding a distinct flavor and aroma. Consumer trends lean towards natural ingredients and sugar-free mints, creating a niche for health-conscious brands. Continuous innovation in mint-based products, such as chewy mints, sugar-free chewing gum, mint-infused mouthwashes, and medicated lozenges, offers a competitive edge. Brands like Fox and Smint capitalize on these trends, catering to diverse customer segments. Peppermint, a member of the Lamiaceae family, is renowned for its menthol content, which provides relief for sore throats and congestion. Eucalyptus oil/essence, another popular mint derivative, offers similar benefits. Market shares reflect the growing demand for mint leaves, peppermint oil, spearmint oil, applemint, and watermint, all contributing to the expanding mint market.
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Research Analysis
The mints market caters to consumers seeking refreshing alternatives to traditional sweets, with a significant focus on sugar-free options. Brands like Fox and Smint lead the charge in this segment, offering chewy mints infused with natural ingredients for a competitive edge. Flavors ranging from peppermint to spearmint and wintergreen cater to diverse customer preferences. Mints serve as substitutes for other breath-freshening products such as chewing gum, breath-freshening sprays, mouthwashes, and medicated lozenges. Menthol, a key ingredient, provides a cooling sensation, making mints popular for soothing sore throats and alleviating congestion.
Market Research Overview
In the realm of consumer preferences, the concept of Mints Market holds significant importance. This market encompasses a variety of mints, ranging from sugar-free to chocolate-covered, chewy to hard, and aromatic to fruit-flavored. The market caters to diverse consumer needs, offering a multitude of choices in terms of mint types and packaging. Consumers enjoy these refreshing treats for various reasons, such as digestive aid, breath freshening, or simply for pleasure. The market is characterized by its dynamic nature, with new innovations and product offerings continually emerging to meet the evolving demands of consumers. Whether it’s a quick pick-me-up or a thoughtful gift, mints have become an essential part of daily life for many individuals worldwide.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Type
- Peppermint
- Spearmint
- Others
- Distribution Channel
- Offline
- Online
- Geography
- North America
- Europe
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
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Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
