India Menthol Market (2025-2031) Outlook | Revenue, Value, Forecast, Industry, Trends, Share, Companies, Analysis, Size & Growth

Name: India Menthol Market (2021 - 2031) | Trends, Outlook & Forecast
Creator: 6Wresearch
License: https://www.6wresearch.com/privacy-policy
Keywords: Menthol Market, India Menthol Market, India Menthol Market Revenues, India Menthol Market Share, India Menthol Market Size, India Menthol Market Outlook, India Menthol Market Report, India Menthol Market Competition, India Menthol Market Overview, India Menthol Market Trends, India Menthol Market Forecast

Market Forecast By Form (Crystalline Solid, Powder, Liquid), By Application (Medical Products, Flavoring/Additives, Oral Care, Others) And Competitive Landscape

Product Code: ETC085543	Publication Date: Aug 2023	Updated Date: Nov 2025	Product Type: Report
Publisher: 6Wresearch	Author: Ravi Bhandari	No. of Pages: 70	No. of Figures: 35	No. of Tables: 5

India Menthol Market Top 5 Importing Countries and Market Competition (HHI) Analysis

India`s menthol import shipments in 2024 continued to see strong growth with a notable CAGR of 20.55% from 2020 to 2024. Top exporting countries to India included China, Malaysia, USA, Germany, and Spain. Despite the diverse sources, the market remained highly concentrated with a high Herfindahl-Hirschman Index (HHI) in 2024. The growth rate from 2023 to 2024 was a modest 0.29%, indicating a steady trajectory in the import market for menthol in India.

India Menthol Market Top 5 Importing Countries and Market Competition (HHI) Analysis

India Menthol Market Synopsis

The India menthol market is expected to grow at a CAGR of 4.7% during the forecast period. This growth can be attributed to rising awareness related to the health benefits associated with menthol and its use in various products such as oral hygiene, cough syrups, skin care products etc. The increasing demand for natural ingredients in personal care products has also encouraged manufacturers to incorporate menthol into their product portfolio, thereby driving the growth of this market. Furthermore, expanding distribution channels and growing consumer preference for herbal or ayurvedic medicines are also aiding in augmenting the demand for menthol in India.

Market Drivers

Increasing Demand from Personal Care Products ??? Increasing urbanization has led to an increased spending capacity on personal care items among consumers which has further resulted in high demand for premium quality natural ingredients like menthol across India. Thus, manufacturers are making substantial investments into R&D activities aimed at incorporating more effective natural ingredients including menthol into their formulations leading to higher sales for these products. This factor is thus positively impacting the overall growth of this market over the coming years.

Challenges of the Market

Price Fluctuations & Unstable Supply Chain??? The prices of raw materials used in production processes involved with manufacturing of mint oil & derivatives vary widely due to factors such as seasonal variations and global supply/demand dynamics resulting instability within supply chain network across India. In addition , inconsistent availability of raw material hampers production capabilities affecting cost efficiency subsequently limiting profitability margins further aggravating situation even further.This factor presents formidable challenge towards smooth functioning operations hence hampering potential gains from increased sale volumes often witnessed by players operating within this industry space over short terms periods.

Key Players in the Market

Some leading players operating within India Menthol Market include Himalaya Drug Company Ltd., Ungerer & Co., Kirtilal Kalidas & Co Pvt Ltd., Synthite Industries Limited , AOS Products Private Limited , Natural Mints LLC , Hindustan Mint And Agro Products Pvt Ltd. etc

Key Highlights of the Report:

India Menthol Market Outlook
Market Size of India Menthol Market, 2024
Forecast of India Menthol Market, 2031
Historical Data and Forecast of India Menthol Revenues & Volume for the Period 2021-2031
India Menthol Market Trend Evolution
India Menthol Market Drivers and Challenges
India Menthol Price Trends
India Menthol Porter's Five Forces
India Menthol Industry Life Cycle
Historical Data and Forecast of India Menthol Market Revenues & Volume By Form for the Period 2021-2031
Historical Data and Forecast of India Menthol Market Revenues & Volume By Crystalline Solid for the Period 2021-2031
Historical Data and Forecast of India Menthol Market Revenues & Volume By Powder for the Period 2021-2031
Historical Data and Forecast of India Menthol Market Revenues & Volume By Liquid for the Period 2021-2031
Historical Data and Forecast of India Menthol Market Revenues & Volume By Application for the Period 2021-2031
Historical Data and Forecast of India Menthol Market Revenues & Volume By Medical Products for the Period 2021-2031
Historical Data and Forecast of India Menthol Market Revenues & Volume By Flavoring/Additives for the Period 2021-2031
Historical Data and Forecast of India Menthol Market Revenues & Volume By Oral Care for the Period 2021-2031
Historical Data and Forecast of India Menthol Market Revenues & Volume By Others for the Period 2021-2031
India Menthol Import Export Trade Statistics
Market Opportunity Assessment By Form
Market Opportunity Assessment By Application
India Menthol Top Companies Market Share
India Menthol Competitive Benchmarking By Technical and Operational Parameters
India Menthol Company Profiles
India Menthol Key Strategic Recommendations

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1 Executive Summary

2 Introduction

2.1 Key Highlights of the Report

2.2 Report Description

2.3 Market Scope & Segmentation

2.4 Research Methodology

2.5 Assumptions

3 India Menthol Market Overview

3.1 India Country Macro Economic Indicators

3.2 India Menthol Market Revenues & Volume, 2021 & 2031F

3.3 India Menthol Market - Industry Life Cycle

3.4 India Menthol Market - Porter's Five Forces

3.5 India Menthol Market Revenues & Volume Share, By Form, 2021 & 2031F

3.6 India Menthol Market Revenues & Volume Share, By Application, 2021 & 2031F

4 India Menthol Market Dynamics

4.1 Impact Analysis

4.2 Market Drivers

4.2.1 Growing demand for menthol-based products in various industries such as pharmaceuticals, food and beverages, cosmetics, and personal care.

4.2.2 Increasing awareness about the health benefits of menthol, leading to a shift towards natural and organic products.

4.2.3 Rise in disposable income and changing consumer preferences towards mint-flavored products.

4.2.4 Expansion of the e-commerce sector facilitating easy accessibility to a wide range of menthol products.

4.3 Market Restraints

4.3.1 Fluctuating prices of mentha oil, a key raw material for menthol production, impacting the overall cost of production.

4.3.2 Stringent regulations related to quality standards and certifications affecting the market entry barriers for new players.

4.3.3 Limited availability of mentha crops due to seasonal variations and environmental factors affecting the supply chain.

5 India Menthol Market Trends

6 India Menthol Market, By Types

6.1 India Menthol Market, By Form

6.1.1 Overview and Analysis

6.1.2 India Menthol Market Revenues & Volume, By Form, 2021-2031F

6.1.3 India Menthol Market Revenues & Volume, By Crystalline Solid, 2021-2031F

6.1.4 India Menthol Market Revenues & Volume, By Powder, 2021-2031F

6.1.5 India Menthol Market Revenues & Volume, By Liquid, 2021-2031F

6.2 India Menthol Market, By Application

6.2.1 Overview and Analysis

6.2.2 India Menthol Market Revenues & Volume, By Medical Products, 2021-2031F

6.2.3 India Menthol Market Revenues & Volume, By Flavoring/Additives, 2021-2031F

6.2.4 India Menthol Market Revenues & Volume, By Oral Care, 2021-2031F

6.2.5 India Menthol Market Revenues & Volume, By Others, 2021-2031F

7 India Menthol Market Import-Export Trade Statistics

7.1 India Menthol Market Export to Major Countries

7.2 India Menthol Market Imports from Major Countries

8 India Menthol Market Key Performance Indicators

8.1 Consumer awareness and preference for natural ingredients in products.

8.2 Number of new product launches in the menthol segment across industries.

8.3 Research and development investment in menthol-based product innovation.

8.4 Export-import trends of menthol products in the Indian market.

8.5 Adoption rate of menthol products in different demographic segments.

9 India Menthol Market - Opportunity Assessment

9.1 India Menthol Market Opportunity Assessment, By Form, 2021 & 2031F

9.2 India Menthol Market Opportunity Assessment, By Application, 2021 & 2031F

10 India Menthol Market - Competitive Landscape

10.1 India Menthol Market Revenue Share, By Companies, 2024

10.2 India Menthol Market Competitive Benchmarking, By Operating and Technical Parameters

11 Company Profiles

12 Recommendations

13 Disclaimer

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Export potential assessment - trade Analytics for 2030

Export potential enables firms to identify high-growth global markets with greater confidence by combining advanced trade intelligence with a structured quantitative methodology. The framework analyzes emerging demand trends and country-level import patterns while integrating macroeconomic and trade datasets such as GDP and population forecasts, bilateral import–export flows, tariff structures, elasticity differentials between developed and developing economies, geographic distance, and import demand projections. Using weighted trade values from 2020–2024 as the base period to project country-to-country export potential for 2030, these inputs are operationalized through calculated drivers such as gravity model parameters, tariff impact factors, and projected GDP per-capita growth. Through an analysis of hidden potentials, demand hotspots, and market conditions that are most favorable to success, this method enables firms to focus on target countries, maximize returns, and global expansion with data, backed by accuracy.

By factoring in the projected importer demand gap that is currently unmet and could be potential opportunity, it identifies the potential for the Exporter (Country) among 190 countries, against the general trade analysis, which identifies the biggest importer or exporter.

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