Synthetic Menthol Market – India
Market Overview
In 2021, the Indian Synthetic Menthol Market was estimated to be valued at $30.36 million as synthetic menthol held a 27.22% share of the total Indian Menthol Market.
The Indian Synthetic Menthol Market is growing at an approximate CAGR of 6.71% during the forecast period 2022-2028.
The Indian Synthetic Menthol Market is contributing significantly to the growth of synthetic menthol in the Asia Pacific region due to the rising disposable income and purchasing power parity.
The major players in the Indian Synthetic Menthol market include VDH Organics Private Limited and Bankey Bihari Aromatics.
Mentha Crops Production in India
India is the largest producer and exporter of mentha crops globally. However, there has been a decrease in mentha productions in the past 3 years.
➟ In 2021-2022, 39 thousand metric tonnes of mentha crops were produced in India.
➟ In 2020-2021, 46 thousand metric tonnes of mentha crops were produced in India.
➟ In 2019-2020, 44 thousand metric tonnes of mentha crops were produced in India
➟ The state of Uttar Pradesh is the leading producing state, accounting for almost 80% of total mentha production in the country.
➟ The western UP districts of Sambhal, Rampur, Chandausi, and Barabanki are major production regions in the state.
(Thousand Metric Tonnes)
Impact of Synthetic Menthol on Natural Mentha Oil in India
The rising production of synthetic menthol by major companies has led to threatening India’s position as the leading exporter of natural Mentha. India’s mentha exports declined 17.9% year on year from 25,750 Metric Tonnes in 2014-2015 to 23,250 Metric Tonnes in 2015-2016 due to an increase in production and usage of synthetic menthol.
Data Sources: Science Direct, Economic Times, Agricoop, Research Gate, and many more.
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