Menthol Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Menthol in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Menthol Price Trend for Second Half of 2023

Menthol is widely used in the pharmaceutical and healthcare industries, particularly in products like cough drops, throat lozenges, and topical analgesics, which fuels demand. Its cooling and soothing properties make it a popular ingredient for treating various symptoms. Secondly, menthol's expanding usage in the cosmetics and personal care sectors, including toothpaste, mouthwash, and skincare products, further boosts its market demand.

Menthol Price Chart

Menthol Price Trends

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During the third quarter, the trajectory of menthol prices inclined with the support from the inclination in the cost of its derivatives. In India, mentha oil rose by an almost double-digit percentage, which was thus well reflected in the dynamics of menthol prices. However, as the months progressed, the market output declined even after a substantial rise in the fragrance and flavor sector.

The winter demand for menthol was adversely affected by inconsistent exports and imports and the depreciation of the Asian currency. Also, the overseas orders of its derivatives were reduced by a significant margin, further impacting the menthol price trend.

Analyst Insight

According to Procurement Resource, the price of Menthol is expected to showcase an oscillating trend as in view of inconsistent demand and lower trading activities might affect the prices of menthol negatively.

Menthol Price Trend for the First Half of 2023

Menthol is a naturally occurring compound derived from the members of the mint family, such as peppermint and corn mint. It has soothing and refreshing properties and thus is widely employed in the pharmaceutical and cosmetic industries. It is a central component of throat lozenges, analgesics, and many skin care items. It is industrially produced from mentha oil, and thus, its price trend is also directed by it.

The first two quarters of 2023 did not prove to be fruitful for the price trend of menthol. The market prices of mentha oil declined consistently, hampering the growth of menthol prices, too. The major cause of this fall was the reduction in the procurement rates from the pharmaceutical and FMCG sectors. The fall was also accelerated by the steep decline of the global economy that made overall trading of menthol and its related products difficult.

Analyst Insight

According to Procurement Resource, the price of Menthol is expected to struggle and fall short amid the declining rates of consumption from the downstream sectors and persistent challenging conditions caused by the fall of the global economy.

Procurement Resource provides latest prices of Menthol. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.

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Menthol is basically an organic compound that is made synthetically or derived from peppermint or mint oils with flavouring and local anaesthetic properties. When added to pharmaceuticals and foods, menthol functions as a fortifier for peppermint flavours. It is a waxy, crystalline substance. In appearance, it is clear or white in colour.

Product Details

Report Features Details
Product Name Menthol
Industrial Uses Odour agent, Air care products, Furnishing care products, Laundry and dishwashing products, Personal care products
Chemical Formula C10H20
Synonyms 2216-51-5 (chiral), 5-Methyl-2-(propan-2-yl) cyclohexan-1-ol, 2-Isopropyl-5-methylcyclohexan-1-ol, 2-Isopropyl-5-methylcyclohexanol, 3-p-Menthanol, Hexahydrothymol, Menthomenthol, Peppermint camphor
Molecular Weight 156.26g/mol  
Supplier Database Arora Aromatics Pvt. Ltd, Bhagat Aromatics Limited, N.S. Mint, Silverline Chemicals, Swati Menthol And Allied Chemicals Limited, Herbochem Industries
Region/Countries Covered Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand

Europe: Germany, France, United Kingdom, Italy,  Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece

North America: United States and Canada

Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru

Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes
Customization Scope The report can be customized as per the requirements of  the customer
Post-Sale Analyst Support 360-degree analyst support after report delivery

Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.

Production Process

  • Production of Menthol via Hydrogenation; and via Distillation, Filtration and Cooling

The hydrogenation process for Menthol production involves the reaction of carbon monoxide and hydrogen with thymol. Menthol is further be separated from its other isomers using the distillation process.


The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).

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