DL-Menthol Market size is set to register remarkable growth rate during the forecast period i.e., between 2024-2036. The growth of the market can be attributed to the increasing utilization of the product in the food industry for adding minty flavor to food items, and high usage of DL-menthol to make ointments, and toothpastes. Along with these, escalating production of medical products, and rapidly growing wellness and cosmetics industry around the world are projected to offer profitable opportunities to the market in the near future. As of 2021, more than 5% of the global economic output is generated by the health and wellness industry. Also, the personal beauty and anti-aging segment gathered over 20% of the wellness market share in the year 2020. Furthermore, the supply of raw materials for manufacturing DL-menthol is quite abundant, which in turn is also expected to propel the DL-menthol market growth in the forthcoming years.
Growth Drivers
Challenges
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2023 |
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Forecast Year |
2024–2036 |
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Regional Scope |
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The market is segmented by application into personal care & cosmetics, food, pharmaceutical, and others, out of which, the pharmaceutical segment is anticipated to hold the largest share in the global DL-menthol market. This can be accounted to the high use of DL-menthol for producing medications that can help control plaque and kill bacteria that contributes to the development of gingivitis. Apart from this, the product is a significant ingredient for making medicines that help in relieving cough, which is also predicted to boost the growth of the market segment in the future. Additionally, on the basis of type, the synthetic segment is assessed to observe notable growth during the forecast period owing to the high purity and cost-effectiveness of synthetic menthol as compared to natural menthol.
Our in-depth analysis of the global market includes the following segments:
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By Type |
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By Application |
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Regionally, the global DL-menthol market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Europe industry is set to account for largest revenue share by 2036, on account of rapidly growing food & beverages industry, and rising demand for DL-menthol from the skincare sector in the region. In 2020, drinks and miscellaneous food items worth approximately USD 8.5 billion and USD 2.5 billion respectively were exported from the United Kingdom to the European Union. Moreover, the market in Asia Pacific is expected to acquire the largest share during the forecast period, which can be credited to the increase in production of pharmaceuticals products in the region. In addition, strong footprint of market players is also projected to drive market growth in the coming years.
December 2021- Symrise announced the acquisition of Giraffe Foods Inc. to expand its portfolio of customized sauces, dips, dressings, syrups and beverage concentrates for B2B customers.
February 2021- Lanxess signed a contract for the acquisition of Emerald Kalama Chemicals, which is a leading manufacturer of specialty chemicals.
Author Credits: Rajrani Baghel
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