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Spearmint Oil Price Trend and Forecast
Spearmint Oil Price Trend and Forecast
Spearmint Oil Regional Price Overview
Get the latest insights on price movement and trend analysis of Spearmint Oil in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Spearmint Oil Price Trend for Q1 2025
The spearmint oil price curve exhibited a fluctuating trajectory with an overall upward bias during the first quarter of 2025. Widely used in toothpaste, chewing gum, candy, and pharmaceuticals, spearmint oil experienced steady demand throughout the quarter. However, production in major mint-producing regions, such as Oregon in North America, faced supply constraints due to reduced acreage for the feedstock plant in the previous year.
Spearmint Oil Price Chart
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Additionally, increased production costs—particularly for labor and energy—contributed to the price increase. The spearmint oil price curve reflected these fluctuations, with temporary dips as the market adjusted to tightening supply levels. Despite occasional oscillations, the overall trend remained upward, as depicted in the spearmint oil price graph.
A combination of lower mint acreage and higher production costs played a key role in this rising trend. While supply shortages introduced some volatility, demand from the food, healthcare, and personal care industries remained stable. Consequently, the spearmint oil price analysis indicated an increasing trend, characterized by fluctuations but a clear overall rise, driven by constrained supply and elevated production costs.
Analyst Insight
According to Procurement Resource, the spearmint oil price trend is expected to continue in the upcoming months, primarily influenced by strong downstream demand and limited availability.
Spearmint Oil Price Trend for the Second Half of 2024
In the second half of 2024, the spearmint oil price graph, derived from the Mentha spicata plant, remained stable with an upward bias. Spearmint oil is extensively utilized in various industries, including food and beverages, cosmetics, and personal care products, due to its fresh, minty fragrance. It is a primary ingredient in products such as toothpaste, mouthwashes, chewing gum, and even cigarettes.
The strong demand for spearmint oil persisted throughout the year, driven by its diverse applications. Consequently, the spearmint oil price curve in the second half of 2024 exhibited a general increase. The combination of reduced production, lower inventories, and heightened demand from the spot market tightened the supply. Although the market experienced some fluctuations, prices displayed gradual upward movements amid tight supply and steady demand from the fragrance and wellness sectors.
Analyst Insight
According to Procurement Resource, the spearmint oil price graph is expected to show similar movements in the near future as the downstream demand for the commodity remains strong.
Spearmint Oil Price Trend for the First Half of 2024
The price trend of spearmint oil exhibited fluctuations with an overall upward bias in the first half of 2024 across global markets. Extracted from the Mentha spicata plant, spearmint oil is widely valued for its refreshing scent and various health benefits. It is commonly used in aromatherapy to alleviate stress, promote relaxation, and enhance mental clarity. Additionally, it supports digestive health by easing symptoms such as bloating, indigestion, and nausea. Its cooling and skin-soothing properties also make it a popular ingredient in cosmetics and personal care products.
According to the spearmint oil price database, market prices were significantly influenced by El Niño and other adverse weather conditions during the harvesting season in early 2024. Prolonged droughts and dry spells associated with El Niño disrupted spearmint cultivation in key production regions, leading to lower yields and higher production costs. As a result, the supply shortage contributed to rising prices. Consequently, the price graph for spearmint oil exhibited oscillating trends throughout the period.
Analyst Insight
According to the Procurement Resource, the spearmint oil prices are likely to witness similar movements going forward too amid their higher demand from the cosmetics and personal care sector.
Spearmint Oil Price Trend for the Second Half of 2023
Spearmint oil price trends varied throughout the said period of H2’23. The market began on a strong note at the beginning of the third quarter. The Indian mentha oil market surged by around 18%, a four-month high in August, as the crop yield was expected to decline in the coming winter months, and the end user demands were surging.
The production was also fairly low compared to the previous year. However, after such a splendid rise, the prices crashed in the fourth quarter, since the export queries didn’t come near the anticipated levels, primarily because of the freight disturbances. From October onwards, the Indian spearmint oil market kept falling till the end of the year.
Analyst Insight
According to Procurement Resource, given the current market dynamics, Spearmint Oil prices are not likely to rise soon; however, the market will strive for stabilization.
Spearmint Oil Price Trend for the First Half of 2023
Spearmint Oil price trend exhibited mixed patterns in the first half of 2023, given the uncertainties in the downstream demands and the production yields in different producing regions across the world.
In the American market, the Spearmint production yield faced a major hit because of the Verticillium infection, so the Spearmint Oil prices felt the push because of the constricted supplies, but the prices fluctuated in a very narrow range.
In the Indian market, the Spearmint production was as per expectations, so with steady demands and stable supplies, the prices wavered in a narrow range here too. Overall, the Spearmint Oil market remained anchored throughout the discussed time.
Analyst Insight
According to Procurement Resource, the price trend for the Spearmint Oil market are expected to exhibit similar fluctuating patterns in the upcoming months, given the current market dynamics and pricing fundamentals.
Procurement Resource provides latest prices of Spearmint Oil. 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.
About Spearmint Oil
Spearmint Oil is obtained from the herb Mentha spicata L., a perennial plant that offers a fruity sweet scent and minty taste and aroma. R-(–)-carvone is the most abundant compound in spearmint oil and provides spearmint its distinctive smell. Spearmint oil promotes digestion and helps to teat occasional stomach upset and respiratory and nervous system problems. Spearmint Oil, also known as “The Gentler Mint Oil”, is very different from peppermint essential oil in its mildness, thus, making it a better option for use among children and those with sensitive skin.
Spearmint Oil Product Details
| Report Features | Details |
| Product Name | Spearmint Oil |
| HS Code | 33012510 |
| Synonyms | 8008-79-5, 84696-51-5, Mentha spicata herb oil, Mentha spicata l. herb oil, Spearmint Oil, oil of spearmint |
| Industrial Uses | Fragrance and flavouring agents , Cosmetics and personal care products, Medicinal and therapeutics, Aromatherapy, Insecticides and pesticides |
| Supplier Database | Berjé Inc, Indukern F&F Ingredients, Arora Aromatics Pvt. Ltd., Fleurchem, Inc, Ultra International B.V, Bhagat Aromatics Limited |
| 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.
Spearmint Oil Production Processes
- Production of Spearmint Oil via Steam Distillation
The manufacturing process of Spearmint oil occurs via the steam distillation process. The process starts with harvesting the leaves from the spearmint plant. The leaves are placed in a still, followed by passing a high-pressure steam through them, which makes the molecules rise with the steam into a condenser. The oil is cooled and collected. After the oil is collected, it is separated from water molecules or other impurities that may have been collected during the distillation process. Finally, the oil is tested for purity and quality to produce Spearmint Oil.
Spearmint Oil Industrial Uses
Spearmint oil has a variety of industrial applications, especially in the fragrance, food, and personal care industries. In the fragrance industry, it is used in perfumes, air fresheners, and scented candles for its sweet, refreshing aroma. In the food and beverage industry, spearmint oil serves as a natural flavoring agent in products such as gum, candies, and teas. Its mild, cooling properties make it a popular ingredient in oral care products like toothpaste and mouthwash. Additionally, spearmint oil is incorporated into cosmetics and skincare products for its soothing, antimicrobial, and rejuvenating effects. Its versatility makes it a valuable ingredient in multiple sectors.
Methodology
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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