Mints Market

Mints Market Growth and Forecast (2023-2028):

The Global Mints Market size is expected to reach USD XX by 2028 from USD XX in 2023, registering a CAGR of XX from 2023 to 2028.

Market Overview:

Mint represents over a dozen plant species. A few common mints are peppermint and spearmint. They are available in hard, soft, and scotch mint types. They all are known for the cooling sensation they impart. Mint leaves can be used either fresh or dried. They are used in several food and beverages, salads, desserts, etc. It also has a variety of applications in the confectionery, pharmaceutical, personal care, health care, and aromatherapy industries.

Recent Developments in the Mints Industry:

• In 2022, Perfetti Van Mele launched functional variants of Mentos gum and mint. Like all Mentos gum products, vitamin gum is sugar-free and contains 25% of recommended daily vitamins B6, C, and B12.
• In 2022, Mars Wrigley Australia launched two new variants in the mint and chewing gum category. The “Eclipse Plus” comes in two flavors - comfort and Release, while “Extra White” comes in two flavors- Spearmint and Peppermint. The company claimed that products would take on old favorites.

REPORT COVERAGE:

Drivers:

Increasing awareness of Oral Health

The increase in oral awareness coupled with tooth problems like discolored teeth and foul odors is driving the mints market. The mint flavor is the most preferred mouth freshener as it prevents foul odor, whitens teeth, and gives a cooling sensation. Further, companies are focusing on mint advertisements to increase their sales. Even Manufacturers are producing hybrid products ranging from food and beverage to personal care. In addition, the rise in consumer consumption of mint products is blistering the mint market.

Restraints:

Stringent Government regulations

Few governments, like Singapore, have restrictions on chewing gums. Unless prescribed by a doctor, one cannot take chewing gum. These stringent restrictions hamper the mint's market shares as it is mostly used in mouth fresheners. Further, the consumption of chewing gum is low in developing economies. In addition, there is always the risk of being replaced by other flavors.

Opportunities:

The rising oral health consciousness among consumers is opening a lucrative opportunity for the mints market. People prefer mint products to maintain their oral health due to hectic schedules and fast pacing lifestyles. Manufacturers are doing research and introducing newly formulated products, such as Prefeti Van Melle's “Clean Breath,” to meet Consumer preferences. In addition, the increase in hybrid usage of mint derivatives is providing tremendous opportunities to the mint market. Moreover, it is also finding opportunities in the cosmetic and personal care industry.

COVID-19 Impact on the Mints Market:

The processing and non-Processing industries have shut down production facilities partially or wholly due to the pandemic crisis. Countries such as China, Italy, Japan, Korea, Iran, Spain, Germany, and the U.S. are the worst affected due to COVID-19. At the same time, countries like Brazil, Pakistan, and Sri Lanka have faced economic crises. A toll of 6.6 million deaths has been recorded, and containment of the virus has become a top priority for every nation. The global markets faced a crisis with supply chain disruptions and challenges in imports-exports. Supply and demand mismatches have been reported globally and resulted in crises for interconnected economies globally. This outbreak has an economic impact and implications on all global markets. The Mints market has also reported a decline in sales during COVID. The shortage of raw materials and limited workforce has negatively impacted the market. However, positive growth is observed in the mints market post-COVID.

Mints Market Segmentation Analysis:

By Product Type:

• Power Mints
• Standard Mints

The power mint segment has the largest market share during the forecast period. The powered mint is intensely flavored and breath freshening mint. Brands like Alotids and Power Mint variants are highly purchased by consumers. At the same time, standard mints such as ice breakers and mentos are witnessing significant growth in the forecast period. However, power mints are anticipated to dominate the mints market in the forecast period.

By Distribution Channel:

• Supermarkets/Hypermarkets
• Convenience Stores
• Pharmacies
• Specialist Retailers

The supermarkets and Hypermarkets segment has the largest market share during the forecast period. Different types of mouth fresheners, chewing gums, and mint confectionery are readily available with the rise in the new number of supermarkets and hypermarkets in the period. With hectic schedules, consumers usually prefer to shop in supermarkets and hypermarkets as they have all products in one place. These factors are contributing to the mints market growth. Further, the pharmacy segment has witnessed healthy growth in the forecast period. The pharmacies have mint-flavored personal care, some cosmetics, and gums available. These factors are driving the contributing to mints market expansion.

Geographical Segmentation Analysis:

• North America - the United States and Canada
• Europe - United Kingdom, Spain, Germany, Italy, and France
• The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
• Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM
• The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

By Region Analysis:

The North American region holds the largest market share in the mints market and is anticipated to sustain its share during the forecast period owing to health benefits and low sugar content. Mint confectionery remains a highly preferred variant in the region, and even market players are launching newly formulated products that include herbs and spices, traditional medicine, and functional ingredients along with mint. Further rising oral health consciousness among people is driving the market. Also, minting the flavor is ideally preferred by smokers to cover the smell. The People in this region use mint-flavored mouthwashes to maintain their dental hygiene.in addition, The region has a concentrated market of hybrid products made of mint flavor, and increased demand in the cosmetics and personal care industry is further driving the growth in the region. Even Asia Pacific is also registering a growing mint market during the forecast period. The increase in consumption in countries like India and China is contributing to the growth. Further, an increase in consumer preference for mint confectionery and hybrid products is driving the market in the region.

Key Players in the Market:

Major Key Players in the Global Mints Market are

• Nestle SA
• Perfetti Van Melle
• The Hershey Company
• Altoids
• Herbion International Inc
• Procter and Gamble Co
• Wm. Wrigley Jr. Company
• Ricola Ltd
• Ferrero SpA
• Mondelez International Inc