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The global peppermint oil industry is primarily being driven by the rising demand for peppermint essential oil. The market landscape is significantly led by exporters primarily concentrated in two major countries in the North America region-the United States and Canada. Increased demand for peppermint oil, specifically for mint flavoured products in the confectionery market has led to the bulk of peppermint exports from these two nations, out of which the United States supplies more than half of the world's peppermint and spearmint.
The expansion of the distribution channels in both developed and developing nations is leading to a rising demand for the product. The demand for the product is witnessing a rise on both offline and online channels. Amazon (NASDAQ: AMZN), one of the leading e-commerce retailers, offers a huge range of the product from various brand including popular brand like Kama Ayurveda, especially in India. Other brands offered by Amazon include Handcraft Blends, Cliganic USDA, and Majestic Pure, among others. On the other hand, supermarkets, and hypermarkets like Walmart (NYSE: WMT) are also responsible for the thriving sales of the product. The range of products as well as the brands in the market will grow in the market with the rising competition and the rising demand for the product in the market. This is expected to boost the market growth in the forecast period of 2021-2026.
Market Analysis by Type, End-Uses, Distribution Channels, and Regions:
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The major players in the global peppermint oil market are Young Living Europe B.V, Ultra International B.V., doTERRA International, LLC, Melaleuca Inc., Lebermuth Co., Inc., and Mountain Rose Herbs, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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