Mint Extract Market: Introduction:
Mint extract is obtained from the leaves of Mentha plant. Mint extract is used as flavoring and nutraceutical agent since Grecian times. Mint extract has a soothing aroma and taste. The mint extract is also us as a nutraceutical to treat digestive disorders, nausea, respiratory problems and to increase alertness. The prolonged use of the mint extract has made it a widely used herbal extract. This produces a high opportunity to capitalize by the manufacturers, as mint extract added products have a global demand. Alternative and herbal medicine market is on a rise and hence, the players of the mint extract market are anticipated to be rewarded because of it.
Mint Extract Market: Segmentations:
The mint extract market can be segmented on the basis of the form, origin of the product, variety, and application.
Based on form, the mint extract market can be segmented into powder, liquid, tablets and capsules. The powder form can be used as seasoning and flavoring agent. The liquid comes in aqueous and oil form, both can be used in any application. The tablets and capsules are used in the pharmaceutical market.
Based on the origin of the product, the mint extract can be segmented into organic and non-organic. The organic mint extracts are GMO-free and are produced under strict GMP. The non-organic mint extract is produced from the GMO plants.
Based on variety, the mint extract can be segmented into spearmint, orange mint, pineapple mint, peppermint, and chocolate mint. The different names of the mint extracts are because of the smell and taste. The mint extract of peppermint is used the most of them all because of its strong smell and taste.
Based on the application the mint extract market can be segmented into food and beverage, pharmaceutical, personal care, and household products. In food and beverage, the mint extract is used as flavoring and dressing agent. In pharmaceutical, the mint extract is used to treat bad breath, indigestion, nausea, and gynecological disorders. In personal care, the coolness or numbing effect is use in different products by adding mint extract. In household products, the mint extract is used as a pest repellent in sprays and cleaners.
Mint Extract Market: Region-wise Outlook:
Asia-Pacific is the largest producer of the mint extract market, with India alone having a value share of approx. 40% globally in the year 2015. Northern America and Europe stands as the largest consumer of mint extract market. The Middle East and Africa is anticipated to be a strong market region in terms of consumption in near futures.
Mint Extract Market: Drivers and Restraints:
Upcoming scientific studies have open up lot of application of the mint extract and this will act as a driver for the mint extract market. Also, a mint extract is already a versatile herb which can be used in a lot of industries with very little modification in the process and hence, a single manufacturer can target a lot of consumer based industries of the mint extract. Global consumption of the mint extract product will give the local manufacturers a chance to venture into the global market. The production of the mint extract is simple and mint plants are not susceptible to pest invasion and hence gives a manufacturer a good yield and brings down the manufacturing cost.
Mint Extract Market: Key Players:
The major global key players are Bhagat Aromatics Ltd, Nectar Lifesciences Ltd, Aroma Chemical Services International GmbH, S.R.S.Aromatics Ltd, Symrise AG, Carrubba INC, AuNutra Industries Inc, Changsha Organic Herb Inc, Grau Aromatics GmbH & Co. KG, Naturex SA, and H. Erhard Wagner GmbH.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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