Synthetic Menthol Market Expansion: The Future of Flavor and Fragrance
Synthetic menthol is produced from various chemicals that are created throughout the synthesis process. Synthetic menthol is relatively purer as compared to natural menthol. Several prominent synthetic menthol producers have their own synthesis processes.
Market Overview
The global Synthetic Menthol market size was valued at $226.62 million in 2023. The market is estimated to grow at a CAGR of 6.01% and reach $303.41 million by 2028. Hence, it is extrapolated that the global Synthetic Menthol market for the Fragrance and Flavour industries was valued at around $63.18 million in 2023 and is estimated to grow and reach $84.95 million by 2028.
The rise of the market is being propelled by the rising demand coming from important end-use sectors such as the pharmaceutical, F&B, and cosmetics industries, etc.
Top Synthetic Menthol Manufacturing Companies
Market Dynamics
Drivers
→ The fragrance industry is driving the demand for synthetic menthol
→ Growing demand in end-use industries
→ The rise in production of synthetic menthol
→ Variations in climatic conditions driving demand for synthetic menthol
→ The consumer goods industry is increasing the demand for synthetic menthol
Challenges
→ Government regulations against the use of synthetic menthol in the tobacco industry
→ Price difference between synthetic and natural menthol
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Data Sources: Persistence Market Research, The Insight Partners, MarketWatch and others
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