Synthetic Menthol Price Trend and Forecast

Synthetic Menthol Regional Price Overview

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

Synthetic Menthol Price Trend for Q1 of 2025

In Q1’25, Synthetic Menthol prices trended slightly upward across major regions, driven by steady demand from the pharmaceutical, personal care, and flavouring industries. Seasonal buying and stable consumption patterns supported the market, especially as manufacturers looked to build inventories after year-end slowdowns. The shift towards cost-effective ingredients in FMCG products further fueled interest in synthetic variants over natural menthol, which remained costlier.
 

Synthetic Menthol Price Chart

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In India, rising synthetic menthol imports continued to impact the domestic natural menthol industry, though calls for policy intervention and higher import duties sparked cautious sentiment. Global supply remained adequate, but uncertainty around future regulations and trade dynamics kept market participants alert. Producers focused on maintaining output efficiency while buyers sought to secure consistent quality at competitive prices.

Overall, prices were supported by balanced fundamentals—stable demand, manageable supply, and ongoing adjustments in sourcing preferences among end users.

Analyst Insight

According to Procurement Resource, Synthetic Menthol prices are likely to remain steady in the short term, with industrial demand and trade policy developments shaping the next trend phase.
 

Synthetic Menthol Price Trend for the Year 2024

In 2024, the price trend for Synthetic Menthol saw noticeable fluctuations, primarily driven by supply-demand dynamics. The market faced pressure from a surge in imports of synthetic menthol, which increased significantly over the past few years, outpacing domestic production. This was mainly due to lower prices of imported synthetic menthol compared to natural menthol, making it more attractive to industries.

India, a leading producer of natural menthol, experienced challenges as synthetic menthol imports grew fivefold, affecting the domestic menthol oil industry. Despite this, the domestic supply of natural menthol remained strong, with India continuing to be a global leader in menthol mint production. However, the cheaper synthetic alternative caused market imbalance, making it difficult for local producers to compete.

To counter the impact of rising synthetic imports, local stakeholders pushed for policy reviews and higher customs duties on synthetic menthol. This led to some price stability in the second half of the year as domestic efforts intensified to protect the natural menthol market.

Overall, Synthetic Menthol prices in 2024 were influenced by increased imports, regulatory changes, and shifting market preferences, with the market experiencing upward pressure due to the imbalance between synthetic and natural menthol.

Analyst Insight

According to Procurement Resource, Synthetic Menthol prices are expected to remain volatile, influenced by continued import growth and potential regulatory changes. Domestic producers may see some relief if tariffs on synthetic menthol imports are increased, stabilizing the market.
 

Synthetic Menthol Price Trend for the Second Half of 2023

Synthetic menthol has experienced strong demand in the pharmaceutical, healthcare, cosmetics, and personal care industries due to its cooling and soothing properties, driving its market demand. In the third quarter, synthetic menthol prices rose, influenced by increased costs of derivatives such as mentha oil, which saw significant price hikes in India. However, market output declined despite rising demand in the fragrance and flavor sector.

This decline was exacerbated by inconsistent exports and imports and the depreciation of the Asian currency, affecting winter demand. Overseas orders of synthetic menthol derivatives also dropped significantly, impacting price trends further. In the latter half of 2023, synthetic menthol prices fluctuated, initially rising sharply due to disrupted supply chain networks. However, the situation reversed in the fourth quarter as global trade disruptions, particularly from unrest in the Middle East, led to declining export queries and increased inventory accumulation. Consequently, synthetic menthol prices fluctuated downward, reflecting mixed market sentiments overall.

Analyst Insight

According to Procurement Resource, the price of Synthetic Menthol is estimated to oscillate under the rising pressure of escalating feedstock and raw material prices and the changing trading landscape due to uprising geopolitical tensions.
 

Synthetic Menthol Price Trend for the First Half of 2023
 
Synthetic Menthol is processed from pulegone or myrcene, which are majorly found in essential oils, primarily aromatic essential oils. So, the price trend for Synthetic Menthol are directly linked with the essential oil prices. Synthetic Menthol is consumed heavily by the flavors, fragrances, cosmetics, pharmaceuticals, nutraceuticals, and personal care sectors.

In the first half of the year 2023, the queries posed by these FMCG sectors were relatively lesser owed to the high existing inventory levels. A distressed global economy because of various geopolitical tribulations also influenced these dull market trend for Synthetic Menthol.
 
Analyst Insight
 
According to Procurement Resource, Synthetic Menthol price trend are less likely to show any significant market appreciation in the coming months. With a gloomy economic outlook, the prospects do not look very positive.

Procurement Resource provides latest prices of Synthetic 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.