LONDON–(BUSINESS WIRE)–SpendEdge has been monitoring the global mentha oil market and the market is poised to experience spend growth of over USD 300 million between 2019-2024 at a CAGR of over 5% during the forecast period. Request Free Sample Pages.
Read the 121-page research report with TOC and LOE on “The Global Mentha Oil Market – Procurement Intelligence Report, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, top suppliers, supplier selection and negotiation strategies, and insights into best practices to optimize procurement spend.”
Owing to its refreshing and cooling properties, mentha oil is widely used as an ingredient in the composition of confectionary products like chewing gums, candies, and peppermint. This extensive usage will continue to create demand in the market. However, the easy availability of synthetic menthol, which is also the cheaper alternative to mentha oil, is expected to inhibit spend growth in the mentha oil market during the forecast period.
Flavored cigarettes are one of the commonly bought luxury items by the affluent smoking demography in the US. This consumption trend will cater to the demand growth in the mentha oil market in this region. Meanwhile, in APAC, the growing awareness about oral hygiene and rising income of end-consumers will result in an increase in the purchase of oral and personal care products that include toothpaste, mouthwashes, and mouth sprays. This will propel spend momentum in the mentha oil market in APAC.
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The Top Mentha Oil Suppliers Enlisted in this Report:
Forecasts of increase in raw material prices and an increase in compliance expenses will act as major cost components in suppliers’ OPEX and will reduce their profit margins. Such reductions in profit margins will be ultimately compensated by buyers in the form of excess procurement spend. However, strategic cost-control initiatives, price forecasting techniques, and adequate technology adoption will aid mentha oil suppliers to sustain their profit margins. Such suppliers will have the liberty to offer service to buyers at competitive rates without affecting their profit margins. On this note, this report has listed the top mentha oil suppliers, SLA agreement insights, and the selection and negotiation strategies that buyers must undertake to achieve optimal procurement in this market. Insights into some of the suppliers’ portfolio are given below:
dōTERRA International LLC- This menthol oil supplier is vertically integrated and is also a cultivator of mentha crop. This offers the supplier the advantage of supply assurance over the players that are non-vertically integrated due to their dependence on mentha oil imports. Being vertically integrated allows this supplier to exercise more control over the pricing of mentha oil.
Young Living Essential Oils- As a part of the negotiation strategy with this mentha oil supplier, buyers are advised to insist on getting a detailed audit analysis report which must include an adulteration report, impurity test result, and certificate related to quality. This validates the quality of the product delivered to the buyers.
Takasago International Corporation- It is among those mentha oil suppliers who are known to adopt initiatives to reduce wastage using waste management programs. This supplier is working on the optimum utilization of raw materials and packaging materials to attain environmental sustainability.
Buy 1 report and get the second for 50% off. Buy 2 reports and get the third for free. Download the free sample of this report on the mentha oil market.
Some of the key topics covered in this report are:
- Mentha oil market spend segmentation by region
- Mentha oil supply market analysis
- Regional spend opportunity for mentha oil suppliers
- Mentha oil suppliers cost structure
- Total cost of ownership analysis in the mentha oil market
- Mentha oil pricing models analysis
- Category management objectives
- Cost saving opportunities in the mentha oil market
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