Menthol is an organic compound with the formula C10H20O. It can be made synthetically or gained from the oils of corn mint, peppermint, or other mints. Menthol can be found in several industries such as oral hygiene, candies, pharmaceuticals, personal care, perfumery, and tobacco.
According to the report analysis, ‘Global Menthol Market, 2021-2027’ states that Agson Global Pvt. Ltd., Anhui Fengle Perfume Co., Ltd., Anhui Great Nation Essential Oils Co., Ltd., Anhui Hengda Pharmaceutical Co., Ltd., Anhui Yinfeng Pharmaceutical Co., Ltd., Arora Aromatics Pvt. Ltd., BASF SE, Bhagat Aromatics Ltd., Hindustan Mint & Agro Products Pvt. Ltd., Huangshan Tianmu Menthol Pharmaceutical Co., Ltd. , Jiangxi Xuesong Natural Medicinal Oil Co., Ltd., Jindal Drugs Pvt. Ltd., K.V. Aromatics Private Limited, Lanxess AG, Mentha & Allied Products Private Limited, Nantong Menthol Factory Co., Ltd., Nectar Lifesciences Ltd., Rhythm Chemicals Pvt. Ltd., Shanghai Xinjia Perfume Co., Ltd, Sharp Mint Limited, among others are the key market players which presently operating in the global menthol market more proficiently for keep maintaining the governing position, ruling around the globe, registering the great value of market share, generating the highest percentage of revenue, obtaining the competitive edge and leading the highest market growth by implementing the policies of profit making and strategies of expansion, improving the qualitative and quantitative measures of such, spreading the awareness connected to the applications and advantages of menthol, increasing the benefits and features of menthol, delivering the better customer satisfaction, establishing the several research and development programs, and analysing the strategies and policies of government as well as similar entities.
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On the basis of product, the ‘Global Menthol Market’ is classified into natural menthol and synthetic menthol. On the basis of application, the global menthol market is categorized into food & beverages, personal care (shampoo, toothpaste, etc.), confectionary (chocolate, chewing gum, others), tobacco and pharmaceuticals. Whereas, applications of menthol in pharmaceutical and aroma therapy are probable to widen, an augmenting demand for menthol from tobacco and vaporizer companies is predicted to deliver an impetus to the growth of the global menthol market throughout the forecast period. In addition, the effective growth in demand for sweet-tasting flavoring, especially among young adults, across the world is another foremost factor estimated to augment the requirement for menthol from the food & beverages sector.
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Not only has this, the adoption of menthol from tobacco companies is on the growth, as cigarette manufacturers endure to market menthol cigarettes as a ‘cool’ and ‘refreshing’ product. Moreover, tobacco companies introduce the menthol cigarettes to target new consumers, as menthol cigarettes are moderately more appealing than conventional non-flavored cigarettes. In addition, as tobacco companies endure to contribute in engaging ads and branding pertaining to menthol cigarettes by showcasing water, nature, and several other refreshing elements, the inclination for menthol cigarettes across the world has augmented. In the current market scenario, menthol cigarettes have a sizeable market share in the combustible cigarette space. Furthermore, as augmenting the number of beginner smokers endure to opt for menthol cigarettes over conventional cigarettes, the menthol market is anticipated to develop at a consistent pace.
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Ankur Gupta, Head Marketing & Communications