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Menthol Market

Menthol Market (Form: Crystalline Solid, Powder, and Liquid; and Application: Medical Products [Ointments, Cough Drops, Nasal Inhalers, and Others], Flavoring/Additives [Food & Beverages, Cigarettes, Liqueurs, Cosmetics, and Others], Oral Care, and Others) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030

Research Activities to Pave Way for Novel Non-opioid Menthol Analgesics

Menthol is primarily extracted from mint plants, and used to relieve irritation and minor pain. Menthol is increasingly being added in several products, including beverages, chewing gums, candy, and cough drops due to which, the demand for menthol has witnessed consistent spike over the past few years. While applications of menthol in pharmaceutical and aroma therapy are likely to widen, an increasing demand for menthol from tobacco and vaporizer companies is expected to provide an impetus to the growth of the global menthol market during the forecast period.

Although the FDA continues to scrutinize the health quotient linked with menthol, menthol products have remained free from major regulatory bans across the world due to which, the global menthol market has witnessed consistent growth– a trend that is likely to continue during the assessment period. The increasing demand for sweet-tasting flavoring, especially among young adults, around the world is a another major factor projected to augment the demand for menthol from the food & beverages sector.

At the back of these factors, along with the increasing demand for menthol for the production of aroma therapy products including candles and essential oils, the global menthol market is on the course to cross a market value of US$ 1.2 Bn mark by the end of 2030.

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Increasing Demand for Menthol from Tobacco Companies to Aid Market Growth

The adoption of menthol from tobacco companies is on the rise, as cigarette manufacturers continue to market menthol cigarettes as a ‘cool’ and ‘refreshing’ product. Moreover, tobacco companies produce menthol cigarettes to target new consumers, as menthol cigarettes are relatively more appealing than conventional non-flavored cigarettes. In addition, as tobacco companies continue to invest in engaging ads and branding pertaining to menthol cigarettes by showcasing water, nature, and other refreshing elements, the inclination for menthol cigarettes around the world has increased. In the current market landscape, menthol cigarettes have a sizeable market share in the combustible cigarette space. Furthermore, as increasing number of beginner smokers continue to opt for menthol cigarettes over conventional cigarettes, the menthol market is projected to grow at a consistent pace. Although sales of menthol cigarettes continue to scale every year, increasing promotion pertaining to the harmful effects of tobacco and tobacco products is expected to hinder the demand for menthol cigarettes in the second half of the forecast period– a factor that could impede the growth of the global menthol market during the assessment period.

Research Indicates Effective Pain Control Utilizing Menthol

Research and development activities are expected to play a key role in the overall development of the global menthol market during the assessment period. At the back of several research and development activities, menthol has emerged as one of the most effective pain control solutions in the medical sector. Furthermore, as menthol is relatively safe and effective in treating a range of painful conditions, including sports injuries, migraine, neuropathic pain, and musculoskeletal pain, the demand for menthol in topical analgesic products is on the rise. This factor is projected to provide considerable opportunities to stakeholders operating in the current menthol market landscape. The ongoing R&D linked to menthol could pave the way for alternatives for opioid analgesics and open up new avenues for the discovery of unique non-opioid analgesics.

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Demand for Menthol as Essential Oil amid COVID-19 Pandemic on Rise

The advent of the novel COVID-19 pandemic is anticipated to have a moderate impact on the overall growth of the global menthol market. Although the demand for menthol cigarettes is expected to witness considerable decline during the ongoing COVID-19 crisis, use of menthol as a key ingredient in essential oils for aromatherapy is likely to rise. Menthol is increasingly being used in cough drops, nasal sprays, and nasal inhalers due to which, the market is expected to have a steady growth in 2020.

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Analysts’ Viewpoint

The global menthol market is projected to expand at a CAGR of ~4% during the assessment period. The market growth can be primarily attributed to factors such as increasing demand for menthol cigarettes, high demand for menthol as a pain reliever, and rising usage of menthol in various medical products including nasal sprays and ointments. Furthermore, as menthol is regarded as a safe and effective solution to treat mild pain without any side effects, the demand will grow in the upcoming years. Market players should focus on creating awareness regarding the benefits of menthol and focus on tapping into opportunities in nutraceutical and pharmaceutical sectors.

Menthol Market: Overview

  • According to Transparency Market Research’s latest research report on the global menthol market for the base year 2019 and the forecast period 2020 to 2030, rise in usage of menthol in the flavoring/additives sector and increase in application of menthol in oral care are factors expected to boost the global menthol market during the forecast period
  • In terms of revenue, the global menthol market is estimated to cross US$ 1.2 Bn by 2030, expanding at a CAGR of ~4% during the forecast period

Increase in Usage of Menthol in Medical Products: Key Driver

  • Menthol is used as an active ingredient in various over-the-counter (OTC)/non-prescription medicines. Topical products containing menthol are used in patients with a wide range of conditions, including pain associated with muscle strain, back pain, joint pain, and arthritis‐related pain. These products offer a cooling sensation, which can provide comfort and pain relief.
  • In many advanced countries, the lineup of OTC drugs available to consumers is expanding. In emerging countries, the use of OTC drugs has increased in recent years; hence, the menthol market is expected to expand in the near future. Several people in the U.S. do not have medical insurance. They often purchase OTC drugs for mild symptoms from a nearby retailer without visiting a medical institution. Sales of OTC drugs in the country increased from US$ 32,275 Mn in 2016 to US$ 35,725 Mn in 2019.
  • Thus, rise in usage of OTC drugs is anticipated to boost the demand for menthol during the forecast period

Major Challenges for Menthol Market

  • According to the World Health Organization (WHO), menthol cigarettes are key products in tobacco company portfolios, representing an estimated 10% of the global cigarette market. The usage of flavoring agents as additives promotes and sustains tobacco use. Therefore, the WHO has banned menthol and other flavors in cigarettes.
  • Menthol cigarettes could contribute to health inequalities. In the U.S., menthol cigarettes have been found to be disproportionately smoked by those with lower incomes; individuals with a lower level of education; women; African Americans; and young people.
  • Menthol cigarettes are also more commonly used by less established or ‘novice’ smokers, and those experimenting with smoking. Research shows that the tobacco industry has manipulated the menthol content of cigarettes to promote smoking initiation and sustained tobacco use. Menthol was found to be key to industry strategy in Singapore to both recruit and retain young smokers.
  • Regulation of flavors that makes smoking more palatable is recommended by the WHO Framework Convention of Tobacco Control (FCTC). Turkey was the first country to successfully introduce a ban on flavored cigarettes, including menthol, in 2015. The ban is to be fully implemented in 2020. Ethiopia also banned menthol flavoring for cigarettes in 2015, effectively a pre-emptive move as the country had no significant existing usage of menthol.
  • A protest was led against the Tobacco Products Directive (TPD) from the tobacco industry in Europe. As a result, the implementation of the ban on menthol cigarettes was postponed to 2020. This was agreed as a four-year transitional “phase-out” period for all flavored products (including menthol) with more than 3% market share in Europe.
  • The ban in 2019 significantly impacted smokers’ purchasing habits in the U.K. According to a retail industry analyst, sale of menthol cigarettes decreased by 57% in convenience stores in the U.K. between September 2019 and February 2020; less than 2% stores stopped selling menthol cigarettes.
  • Therefore, ban on menthol cigarettes is estimated to adversely affect the demand for menthol in the tobacco industry. This is expected to restrain the market, as menthol holds significant share of the tobacco industry.

Growth in Usage of Menthol in Oral Care Products to Offer Lucrative Opportunities for Menthol Market

  • Menthol is a covalent organic compound obtained from peppermint or other mint oil or made synthetically through a chemical process. It is commonly used in oral hygiene products and bad breath remedies such as mouthwashes, toothpastes, and tongue sprays. It is also used as a flavoring agent in chewing gums and candies. Its antimicrobial activity has been demonstrated against several strains of gram-positive and gram-negative bacteria, thus making it a suitable ingredient for anti-gingivitis and anti-plaque products or oral discomfort products.
  • Population-based cross-sectional study was conducted among the OPD of Mithila Minority Dental College, Darbhanga Medical College, and school-going children in Darbhanga, Bihar, India, in 2018. Total sample size of 14,580 was examined in the study.
  • The overall prevalence of dental caries was found to be 83.71% in the study. Higher prevalence of dental caries was found among boys (55%) compared to that in girls. Based on diet habit, the population who consumed non-vegetarian diet had higher prevalence of dental caries.
  • Dental caries is a preventable disease. Its intensity can be alleviated by creating awareness about oral health among parents, teachers, and the general public.
  • Government organizations have been taking initiatives to educate people in oral hygiene. This has prompted more number of people to buy oral care products.
  • Therefore, demand for menthol to be employed in oral hygiene products is expected to rise, as its anti-bacterial properties restrain the development of bacteria in the mouth

Menthol Market: Competition Landscape

  • The global menthol market was highly fragmented in 2019. Leading manufacturers collectively accounted for 65.7% share of the global menthol market in 2019.
    • BASF SE,
    • ARCHER-DANIELS-MIDLAND COMPANY,
    • Symrise,
    • Takasago International Corporation,
    • Nectar Lifesciences Ltd. are the major players operating in the market.
  • BASF SE accounted for a prominent share of 19.6% of the global menthol market in 2019. Its menthol products include L-Menthol FCC and L-Menthol Flakes FCC.
  • ARCHER-DANIELS-MIDLAND COMPANY is another global leader in the manufacture of menthol. The company held 15.7% share of global menthol market in 2019.

Menthol Market – Segmentation

TMR’s research study segments the global menthol market in terms of form, application, and region. This report presents extensive market dynamics and growth trends associated with different market segments and explains how they are influencing the global menthol market.

 Form
  • Crystalline Solid
  • Powder
  • Liquid

Application
  • Medical Products
  • Ointments
  • Cough Drops
  • Nasal Inhalers
  • Others
  • Flavoring/Additives
  • Food & Beverages
  • Cigarettes
  • Liqueurs
  • Cosmetics
  • Others
  • Oral Care
  • Others (including Pesticides)

Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Frequently Asked Questions

What is the Menthol Market Size?

Menthol Market is projected to reach US$ 1.2 Bn by the end of 2030

What is the CAGR for Menthol Market?

Menthol Market is expected to grow at a CAGR of 6% during 2020-2030

What are the key factors driving the growth of the Menthol Market?

Rise in usage of OTC drugs is anticipated to boost the demand for menthol during the forecast period

Which region is more attractive for vendors in the Menthol Market?

North America is a more attractive region for vendors in the Menthol Market

Who are the key players in the Menthol Market?

Key vendors in the Menthol Market are BASF SE, ARCHER-DANIELS-MIDLAND COMPANY, Symrise, Takasago International Corporation, etc

    1. Preface

        1.1. Report Scope and Market Segmentation

        1.2. Research Highlights

    2. Assumptions and Research Methodology

        2.1.  Assumptions and Acronyms Used

        2.2. Research Methodology

    3. Executive Summary: Global Menthol Market

        3.1. Market Value, Indicative (US$ Mn)

        3.2. Top Three Trends

    4. Market Overview

        4.1. Form Overview

        4.2. Key Market Developments

        4.3. Market Indicators

    5. Market Dynamics

        5.1. Drivers and Restraints Snapshot Analysis

                5.1.1.1. Drivers

                5.1.1.2. Restraints

                5.1.1.3. Opportunities

        5.2. Porter’s Five Forces Analysis

            5.2.1. Threat of Substitutes

            5.2.2. Bargaining Power of Buyers

            5.2.3. Bargaining Power of Suppliers

            5.2.4. Threat of New Entrants

            5.2.5. Degree of Competition

        5.3. Value Chain Analysis

        5.4. List of Potential Customers

    6. Global Menthol Market: Covid-19 Impact Analysis

    7. Global Menthol Market: Price Trend Analysis, 2019

    8. Global Menthol Market Volume (Tons) and Value (US$ Mn) Analysis, by Form

        8.1. Key Findings and Introduction

        8.2. Global Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017–2030

            8.2.1. Global Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Crystalline Solid, 2017–2030

            8.2.2. Global Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Powder, 2017–2030

            8.2.3. Global Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Liquid, 2017–2030

        8.3. Global Menthol Market Attractiveness Analysis, by Form

    9. Global Menthol Market Volume (Tons) and Value (US$ Mn) Analysis, by Application

        9.1. Key Findings and Introduction

        9.2. Global Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Application, 2017–2030

            9.2.1. Global Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Medical Products, 2017–2030

            9.2.2. Global Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Flavoring/Additives, 2017–2030

            9.2.3. Global Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Oral Care, 2017–2030

            9.2.4. Global Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Others, 2017–2030

        9.3. Global Menthol Market Attractiveness Analysis, by Application

    10. Global Menthol Market Analysis, by Region

        10.1. Global Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Region

            10.1.1. North America

            10.1.2. Europe

            10.1.3. Asia Pacific

            10.1.4. Latin America

            10.1.5. Middle East & Africa

        10.2. Global Menthol Market Attractiveness Analysis, by Region

    11. North America Menthol Market Overview

        11.1. North America Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017–2030

        11.2. North America Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Application, 2017–2030

        11.3. North America Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Country

            11.3.1. U.S. Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017–2030

            11.3.2. U.S. Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Application, 2017–2030

            11.3.3. Canada Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017–2030

            11.3.4. Canada Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Application, 2017–2030

        11.4. North America Menthol Market Attractiveness Analysis, by Form

        11.5. North America Menthol Market Attractiveness Analysis, by Application

    12. Europe Menthol Market Overview

        12.1. Europe Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017–2030

        12.2. Europe Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Application, 2017–2030

        12.3. Europe Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Country and Sub-region

            12.3.1. Germany Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017–2030

            12.3.2. Germany Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Application, 2017–2030

            12.3.3. France Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017–2030

            12.3.4. France Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Application, 2017–2030

            12.3.5. U.K. Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017–2030

            12.3.6. U.K. Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Application, 2017–2030

            12.3.7. Italy Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017–2030

            12.3.8. Italy Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Application, 2017–2030

            12.3.9. Spain Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017–2030

            12.3.10. Spain Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Application, 2017–2030

            12.3.11. Russia & CIS Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017–2030

            12.3.12. Russia & CIS Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Application, 2017–2030

            12.3.13. Rest of Europe Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017–2030

            12.3.14. Rest of Europe Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Application, 2017–2030

        12.4. Europe Menthol Market Attractiveness Analysis, by Form

        12.5. Europe Menthol Market Attractiveness Analysis, by Application

    13. Asia Pacific Menthol Market Overview

        13.1. Asia Pacific Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017–2030

        13.2. Asia Pacific Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Application, 2017–2030

        13.3. Asia Pacific Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Country and Sub-region

            13.3.1. China Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017–2030

            13.3.2. China Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Application, 2017–2030

            13.3.3. India Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017–2030

            13.3.4. India Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Application, 2017–2030

            13.3.5. Japan Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017–2030

            13.3.6. Japan Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Application, 2017–2030

            13.3.7. South Korea Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017–2030

            13.3.8. South Korea Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Application, 2017–2030

            13.3.9. Australia Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017–2030

            13.3.10. Australia Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Application, 2017–2030

            13.3.11. New Zealand Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017–2030

            13.3.12. New Zealand Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Application, 2017–2030

            13.3.13. Malaysia Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017–2030

            13.3.14. Malaysia Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Application, 2017–2030

            13.3.15. Indonesia Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017–2030

            13.3.16. Indonesia Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Application, 2017–2030

            13.3.17. Thailand Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017–2030

            13.3.18. Thailand Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Application, 2017–2030

            13.3.19. Taiwan Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017–2030

            13.3.20. Taiwan Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Application, 2017–2030

            13.3.21. Rest of Asia Pacific Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017–2030

            13.3.22. Rest of Asia Pacific Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Application, 2017–2030

        13.4. Asia Pacific Menthol Market Attractiveness Analysis, by Form

        13.5. Asia Pacific Menthol Market Attractiveness Analysis, by Application

    14. Latin America Menthol Market Overview

        14.1. Latin America Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017–2030

        14.2. Latin America Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Application, 2017–2030

        14.3. Latin America Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Country and Sub-region

            14.3.1. Brazil Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017–2030

            14.3.2. Brazil Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Application, 2017–2030

            14.3.3. Mexico Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017–2030

            14.3.4. Mexico Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Application, 2017–2030

            14.3.5. Rest of Latin America Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017–2030

            14.3.6. Rest of Latin America Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Application, 2017–2030

        14.4. Latin America Menthol Market Attractiveness Analysis, by Form

        14.5. Latin America Menthol Market Attractiveness Analysis, by Application

    15. Middle East & Africa Menthol Market Overview

        15.1. Middle East & Africa Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017–2030

        15.2. Middle East & Africa Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Application, 2017–2030

        15.3. Middle East & Africa Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Country and Sub-region

            15.3.1. GCC Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017–2030

            15.3.2. GCC Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Application, 2017–2030

            15.3.3. South Africa Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017–2030

            15.3.4. South Africa Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Application, 2017–2030

            15.3.5. Rest of Middle East & Africa Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017–2030

            15.3.6. Rest of Middle East & Africa Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Application, 2017–2030

        15.4. Middle East & Africa Menthol Market Attractiveness Analysis, by Form

        15.5. Middle East & Africa Menthol Market Attractiveness Analysis, by Application

    16. Competition Landscape

        16.1. Global Menthol Market Share Analysis, by Company (2019)

        16.2. Competition Matrix

        16.3. Company Profiles

            16.3.1. BASF SE

                16.3.1.1. Company Description

                16.3.1.2. Business Overview

                16.3.1.3. Financial Details

                16.3.1.4. Business Strategy

                16.3.1.5. Product Portfolio

            16.3.2. Nectar Lifesciences Ltd.

                16.3.2.1. Company Description

                16.3.2.2. Business Overview

                16.3.2.3. Business Strategy

                16.3.2.4. Financial Details

                16.3.2.5. Product Portfolio

            16.3.3. HINDUSTAN MINT & AGRO PRODUCTS PVT. LTD. (1/1)

                16.3.3.1. Company Description

                16.3.3.2. Business Overview

                16.3.3.3. Business Strategy

                16.3.3.4. Product Portfolio

            16.3.4. A. G. Industries

                16.3.4.1. Company Description

                16.3.4.2. Business Overview

                16.3.4.3. Business Strategy

                16.3.4.4. Product Portfolio

            16.3.5. Cayman Chemical

                16.3.5.1. Company Description

                16.3.5.2. Business Overview

                16.3.5.3. Business Strategy

                16.3.5.4. Product Portfolio

            16.3.6. Loba Chemie Pvt. Ltd.

                16.3.6.1. Company Description

                16.3.6.2. Business Overview

                16.3.6.3. Business Strategy

                16.3.6.4. Financial Details

                16.3.6.5. Product Portfolio

            16.3.7. Shanghai M&U International Trade Co., Ltd.

                16.3.7.1. Company Description

                16.3.7.2. Business Overview

                16.3.7.3. Form Portfolio

                16.3.7.4. Strategic Overview

            16.3.8. ARCHER-DANIELS-MIDLAND COMPANY

                16.3.8.1. Company Description

                16.3.8.2. Business Overview

                16.3.8.3. Product Portfolio

                16.3.8.4. Strategic Overview

            16.3.9. Takasago International Corporation

                16.3.9.1. Company Description

                16.3.9.2. Business Overview

                16.3.9.3. Product Portfolio

                16.3.9.4. Strategic Overview

            16.3.10. Symrise

                16.3.10.1. Company Description

                16.3.10.2. Business Overview

                16.3.10.3. Product Portfolio

                16.3.10.4. Strategic Overview

            16.3.11. Jindal Drugs Pvt. Ltd.

                16.3.11.1. Company Description

                16.3.11.2. Business Overview

                16.3.11.3. Product Portfolio

                16.3.11.4. Strategic Overview

        17. Primary Research: Key Insights

    List of Tables

    Table 01: Global Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017-2030

    Table 02: Global Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Application, 2017-2030

    Table 03: Global Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Application, 2017-2030

    Table 05: North America Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017-2030

    Table 06: North America Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2017-2030

    Table 07: North America Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2017-2030

    Table 08: North America Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Country & Sub-region, 2017-2030

    Table 09: U.S. Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017-2030

    Table 10: U.S. Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Medical Products, 2017-2030

    Table 11: U.S. Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Flavoring/Additives, 2017-2030

    Table 12: Canada Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017-2030

    Table 13: Canada Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Medical Products, 2017-2030

    Table 14: Canada Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Flavoring/Additives, 2017-2030

    Table 15: Europe Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Form, 2017-2030

    Table 16: Europe Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2017-2030

    Table 17: Europe Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2017-2030

    Table 19: Germany Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017-2030

    Table 20: Germany Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Medical Products, 2017-2030

    Table 21: Germany Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Flavoring/Additives, 2017-2030

    Table 22: France Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017-2030

    Table 23: France Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Medical Products, 2017-2030

    Table 24: France Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Flavoring/Additives, 2017-2030

    Table 25: U.K. Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017-2030

    Table 26: U.K. Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Medical Products, 2017-2030

    Table 27: U.K. Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Flavoring/Additives, 2017-2030

    Table 28: Italy Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017-2030

    Table 29: Italy Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Medical Products, 2017-2030

    Table 30: Italy Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Flavoring/Additives, 2017-2030

    Table 31: Spain Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017-2030

    Table 32: Spain Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Medical Products, 2017-2030

    Table 33: Spain Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Flavoring/Additives, 2017-2030

    Table 34: Russia & CIS Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017-2030

    Table 35: Russia & CIS Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Medical Products, 2017-2030

    Table 36: Russia & CIS Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Flavoring/Additives, 2017-2030

    Table 37: Rest of Europe Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017-2030

    Table 38: Rest of Europe Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Medical Products, 2017-2030

    Table 39: Rest of Europe Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Flavoring/Additives, 2017-2030

    Table 40: Asia Pacific Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Form, 2017-2030

    Table 41: Asia Pacific Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2017-2030

    Table 42: Asia Pacific Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2017-2030

    Table 45: China Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017-2030

    Table 46: China Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Medical Products, 2017-2030

    Table 47: China Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Flavoring/Additives, 2017-2030

    Table 48: Japan Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017-2030

    Table 49: Japan Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Medical Products, 2017-2030

    Table 50: Japan Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Flavoring/Additives, 2017-2030

    Table 51: India Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017-2030

    Table 52: India Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Medical Products, 2017-2030

    Table 53: India Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Flavoring/Additives, 2017-2030

    Table 54: South Korea Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017-2030

    Table 55: South Korea Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Medical Products, 2017-2030

    Table 56: South Korea Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Flavoring/Additives, 2017-2030

    Table 57: Australia Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017-2030

    Table 58: Australia Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Medical Products, 2017-2030

    Table 59: Australia Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Flavoring/Additives, 2017-2030

    Table 60: New Zealand Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017-2030

    Table 61: New Zealand Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Medical Products, 2017-2030

    Table 62: New Zealand Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Flavoring/Additives, 2017-2030

    Table 63: Malaysia Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017-2030

    Table 64: Malaysia Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Medical Products, 2017-2030

    Table 65: Malaysia Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Flavoring/Additives, 2017-2030

    Table 66: Indonesia Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017-2030

    Table 67: Indonesia Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Medical Products, 2017-2030

    Table 68: Indonesia Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Flavoring/Additives, 2017-2030

    Table 69: Thailand Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017-2030

    Table 70: Thailand Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Medical Products, 2017-2030

    Table 71: Thailand Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Flavoring/Additives, 2017-2030

    Table 72: Taiwan Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017-2030

    Table 73: Taiwan Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Medical Products, 2017-2030

    Table 74: Taiwan Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Flavoring/Additives, 2017-2030

    Table 75: Rest of Asia Pacific Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017-2030

    Table 76: Rest of Asia Pacific Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Medical Products, 2017-2030

    Table 77: Rest of Asia Pacific Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Flavoring/Additives, 2017-2030

    Table 78: Latin America Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Form, 2017-2030

    Table 79: Latin America Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2017-2030

    Table 80: Latin America Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2017-2030

    Table 82: Brazil Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017-2030

    Table 83: Brazil Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Medical Products, 2017-2030

    Table 84: Brazil Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Flavoring/Additives, 2017-2030

    Table 85: Mexico Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017-2030

    Table 86: Mexico Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Medical Products, 2017-2030

    Table 87: Mexico Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Flavoring/Additives, 2017-2030

    Table 88: Rest of Latin America Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017-2030

    Table 89: Rest of Latin America Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Medical Products, 2017-2030

    Table 90: Rest of Latin America Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Flavoring/Additives, 2017-2030

    Table 91: Middle East & Africa Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Form, 2017-2030

    Table 92: Middle East & Africa Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2017-2030

    Table 93: Middle East & Africa Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2017-2030

    Table 95: GCC Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017-2030

    Table 96: GCC Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Medical Products, 2017-2030

    Table 97: GCC Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Flavoring/Additives, 2017-2030

    Table 98: South Africa Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017-2030

    Table 99: South Africa Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Medical Products, 2017-2030

    Table 100: South Africa Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Flavoring/Additives, 2017-2030

    Table 101: Rest of Middle East & Africa Menthol Market Volume (Tons) and Value (US$ Mn) Forecast, by Form, 2017-2030

    Table 102: Rest of Middle East & Africa Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Medical Products, 2017-2030

    Table 103: Rest of Middle East & Africa Menthol Market Volume (Tons) and Value (US$ Thousand) Forecast, by Flavoring/Additives, 2017-2030

    List of Figures

    Figure 01: Price Trend Analysis (US$/Kg), by Region, 2017–2030

    Figure 02: Price Trend Analysis (US$/Kg), by Form, 2017–2030

    Figure 03: Price Trend Analysis (US$/Kg) for Citral by Region, 2017–2030

    Figure 04: Production Capacity (Current & Additions), by Region, 2019 and 2030

    Figure 05: Global Menthol Market Volume Share Analysis, by Form

    Figure 06: Global Menthol Market Attractiveness Analysis, by Form

    Figure 07: Global Menthol Market Value Share Analysis, by Application

    Figure 08: Global Menthol Market Attractiveness Analysis, by Application

    Figure 09: Global Menthol Market Share Analysis, by Region

    Figure 10: Global Menthol Market Attractiveness Analysis, by Region

    Figure 11: North America Menthol Market Share Analysis, by Form

    Figure 12: North America Menthol Market Attractiveness Analysis, by Form

    Figure 13: North America Menthol Market Share Analysis, by Application

    Figure 14: North America Menthol Market Attractiveness Analysis, by Application

    Figure 15: North America Menthol Market Share Analysis, by Country

    Figure 16: North America Menthol Market Attractiveness Analysis, by Country

    Figure 17: U.S. Menthol Market Volume Share by Form, 2019 and 2030

    Figure 18: U.S. Menthol Market Volume (Tons) and Value (US$ Thousand), 2017-2030

    Figure 23: Canada Menthol Market Volume Share by Form, 2019 and 2030

    Figure 24: Canada Menthol Market Volume (Tons) and Value (US$ Thousand), 2017-2030

    Figure 29: Europe Menthol Market Share Analysis, by Form

    Figure 30: Europe Menthol Market Attractiveness Analysis, by Form

    Figure 31: Europe Menthol Market Share Analysis, by Application

    Figure 32: Europe Menthol Market Attractiveness Analysis, by Application

    Figure 33: Europe Menthol Market Share Analysis, by Country and Sub-region

    Figure 34: Europe Menthol Market Attractiveness Analysis, by Country and Sub-region

    Figure 35: Germany Menthol Market Volume Share by Form, 2019 and 2030

    Figure 36: Germany Menthol Market Volume (Tons) and Value (US$ Thousand), 2017-2030

    Figure 41: France Menthol Market Volume Share by Form, 2019 and 2030

    Figure 42: France Menthol Market Volume (Tons) and Value (US$ Thousand), 2017-2030

    Figure 47: U.K. Menthol Market Volume Share by Form, 2019 and 2030

    Figure 48: U.K. Menthol Market Volume (Tons) and Value (US$ Thousand), 2017-2030

    Figure 53: Italy Menthol Market Volume Share by Form, 2019 and 2030

    Figure 54: Italy Menthol Market Volume (Tons) and Value (US$ Thousand), 2017-2030

    Figure 59: Spain Menthol Market Volume Share by Form, 2019 and 2030

    Figure 60: Spain Menthol Market Volume (Tons) and Value (US$ Thousand), 2017-2030

    Figure 65: Russia & CIS Menthol Market Volume Share by Form, 2019 and 2030

    Figure 66: Russia & CIS Menthol Market Volume (Tons) and Value (US$ Thousand), 2017-2030

    Figure 71: Rest of Europe Menthol Market Volume Share by Form, 2019 and 2030

    Figure 72: Rest of Europe Menthol Market Volume (Tons) and Value (US$ Thousand), 2017-2030

    Figure 77: Asia Pacific Menthol Market Share Analysis, by Form

    Figure 78: Asia Pacific Menthol Market Attractiveness Analysis, by Form

    Figure 79: Asia Pacific Menthol Market Share Analysis, by Application

    Figure 80: Asia Pacific Menthol Market Attractiveness Analysis, by Application

    Figure 81: Asia Pacific Menthol Market Share Analysis, by Country and Sub-region

    Figure 82: Asia Pacific Menthol Market Attractiveness Analysis, by Country and Sub-region

    Figure 83: China Menthol Market Volume Share by Form, 2019 and 2030

    Figure 84: China Menthol Market Volume (Tons) and Value (US$ Thousand), 2017-2030

    Figure 89: Japan Menthol Market Volume Share by Form, 2019 and 2030

    Figure 90: Japan Menthol Market Volume (Tons) and Value (US$ Thousand), 2017-2030

    Figure 95: India Menthol Market Volume Share by Form, 2019 and 2030

    Figure 96: India Menthol Market Volume (Tons) and Value (US$ Thousand), 2017-2030

    Figure 101: South Korea Menthol Market Volume Share by Form, 2019 and 2030

    Figure 102: South Korea Menthol Market Volume (Tons) and Value (US$ Thousand), 2017-2030

    Figure 107: Australia Menthol Market Volume Share by Form, 2019 and 2030

    Figure 108: Australia Menthol Market Volume (Tons) and Value (US$ Thousand), 2017-2030

    Figure 113: New Zealand Menthol Market Volume Share by Form, 2019 and 2030

    Figure 114: New Zealand Menthol Market Volume (Tons) and Value (US$ Thousand), 2017-2030

    Figure 119: Malaysia Menthol Market Volume Share by Form, 2019 and 2030

    Figure 120: Malaysia Menthol Market Volume (Tons) and Value (US$ Thousand), 2017-2030

    Figure 125: Indonesia Menthol Market Volume Share by Form, 2019 and 2030

    Figure 126: Indonesia Menthol Market Volume (Tons) and Value (US$ Thousand), 2017-2030

    Figure 131: Thailand Menthol Market Volume Share by Form, 2019 and 2030

    Figure 132: Thailand Menthol Market Volume (Tons) and Value (US$ Thousand), 2017-2030

    Figure 137: Taiwan Menthol Market Volume Share by Form, 2019 and 2030

    Figure 138: Taiwan Menthol Market Volume (Tons) and Value (US$ Thousand), 2017-2030

    Figure 143: Rest of Asia Pacific Menthol Market Volume Share by Form, 2019 and 2030

    Figure 144: Rest of Asia Pacific Menthol Market Volume (Tons) and Value (US$ Thousand), 2017-2030

    Figure 149: Latin America Menthol Market Share Analysis, by Form

    Figure 150: Latin America Menthol Market Attractiveness Analysis, by Form

    Figure 151: Latin America Menthol Market Share Analysis, by Application

    Figure 152: Latin America Menthol Market Attractiveness Analysis, by Application

    Figure 153: Latin America Menthol Market Share Analysis, by Country and Sub-region

    Figure 154: Latin America Menthol Market Attractiveness Analysis, by Country and Sub-region

    Figure 155: Brazil Menthol Market Volume Share by Form, 2019 and 2030

    Figure 156: Brazil Menthol Market Volume (Tons) and Value (US$ Thousand), 2017-2030

    Figure 161: Mexico Menthol Market Volume Share by Form, 2019 and 2030

    Figure 162: Mexico Menthol Market Volume (Tons) and Value (US$ Thousand), 2017-2030

    Figure 167: Rest of Latin America Menthol Market Volume Share by Form, 2019 and 2030

    Figure 168: Rest of Latin America Menthol Market Volume (Tons) and Value (US$ Thousand), 2017-2030

    Figure 173: Middle East & Africa Menthol Market Share Analysis, by Form

    Figure 174: Middle East & Africa Menthol Market Attractiveness Analysis, by Form

    Figure 175: Middle East & Africa Menthol Market Share Analysis, by Application

    Figure 176: Middle East & Africa Menthol Market Attractiveness Analysis, by Application

    Figure 177: Middle East & Africa Menthol Market Share Analysis, by Country and Sub-region

    Figure 178: Middle East & Africa Menthol Market Attractiveness Analysis, by Country and Sub-region

    Figure 179: GCC Menthol Market Volume Share by Form, 2019 and 2030

    Figure 180: GCC Menthol Market Volume (Tons) and Value (US$ Thousand), 2017-2030

    Figure 185: South Africa Menthol Market Volume Share by Form, 2019 and 2030

    Figure 186: South Africa Menthol Market Volume (Tons) and Value (US$ Thousand), 2017-2030

    Figure 191: Rest of Middle East & Africa Menthol Market Volume Share by Form, 2019 and 2030

    Figure 192: Rest of Middle East & Africa Menthol Market Volume (Tons) and Value (US$ Thousand), 2017-2030

    Figure 197: Company Market Share Analysis, 2019

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Menthol Market

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