~ Buy the MENTHOL Drug Excipient Business Development Opportunity Report, 2024 PDF Report in the Report Store ~

Drug Sales Trends for menthol

✉ Email this page to a colleague

Annual Sales Revenues and Units Sold for menthol

These sales figures are drawn from a US national survey of drug expenditures

Subscribe to access the full database, or Subscribe
Drug Name	Revenues (USD)	Units	Year
MENTHOL	⤷ Subscribe	⤷ Subscribe	2021
MENTHOL	⤷ Subscribe	⤷ Subscribe	2020
MENTHOL	⤷ Subscribe	⤷ Subscribe	2019
MENTHOL	⤷ Subscribe	⤷ Subscribe	2018
>Drug Name	>Revenues (USD)	>Units	>Year

Menthol Market Analysis and Financial Projection

Menthol Market Analysis and Sales Projections

Market Overview

The menthol market is a dynamic and growing sector, driven by the versatile applications of menthol across various industries. Here is a comprehensive analysis of the market trends, growth drivers, and sales projections.

Market Size and Growth

The global menthol market was valued at USD 4.8 billion in 2023 and is projected to reach USD 8.3 billion by 2033, growing at a Compound Annual Growth Rate (CAGR) of 5.8% during the forecast period from 2024 to 2033[1].

Key Applications and Segments

Pharmaceutical Grade Menthol

Pharmaceutical grade menthol dominates the market due to its extensive use in the pharmaceutical industry. It is widely used in products such as topical ointments, cough syrups, and lozenges, where its analgesic and cooling properties are highly valued. The stringent quality standards and regulatory approvals required for pharmaceutical products further drive the demand for high-purity menthol[1].

Pharmaceuticals

The pharmaceutical sector is the largest application area for menthol, driven by its use in over-the-counter (OTC) drugs, such as analgesics, cough syrups, and topical ointments. The shift towards self-care and preventive healthcare, particularly amplified by the COVID-19 pandemic, has increased the demand for these products[1].

Personal Care and Cosmetics

Menthol is also widely used in the personal care and cosmetics industry, including oral care products, skincare items, and hair care products. The rapid expansion of this industry, particularly in regions like Asia-Pacific, is expected to boost the demand for menthol[3].

Food and Beverages

In the food and beverages sector, menthol is used in confectionery, chewing gums, and other flavored products. The increasing demand from the confectionery industry is a significant growth driver for the menthol market[3].

Tobacco

Menthol cigarettes, although facing regulatory challenges, still constitute a significant portion of the market. However, the sales of menthol cigarettes have been declining in recent years, with a 10.7% decrease in the United States from 2022 to 2023[2].

Regional Analysis

North America

North America leads the menthol market with a commanding share of approximately 35%. The United States is a major contributor to this demand, driven by the extensive use of menthol in pharmaceuticals, cosmetics, and tobacco products[1].

Europe

Europe accounts for around 25% of the global menthol market, with countries like Germany, France, and the UK driving the demand. The region's stringent regulatory standards and high consumer preference for menthol-infused products contribute to its market share[1].

Asia-Pacific

The Asia-Pacific region is expected to experience significant growth due to the rapid expansion of the pharmaceutical and personal care industries. Countries like India and China are key markets, with the pharmaceutical industry in India projected to reach a value of USD 130 billion by 2030[3].

Growth Drivers

Rise in Usage of OTC Drugs

The increasing usage of OTC drugs is a major driver for the menthol market. As consumers seek self-medication solutions, menthol's soothing and cooling properties make it a preferred ingredient in various OTC products[1].

Innovations in Product Formulations

Innovations in product formulations, such as novel delivery mechanisms, are enhancing the therapeutic benefits of menthol. Research and development activities, like the study on menthol inhalation for relief of dyspnea, are further boosting the demand for menthol[3].

Consumer Preference for Natural Ingredients

The increasing consumer preference for natural and organic ingredients is driving the demand for menthol, which is naturally occurring or can be synthesized chemically[1].

Challenges and Opportunities

Regulatory Changes

Regulatory changes, particularly those affecting the tobacco industry, pose significant challenges. However, these changes also present opportunities for growth in other sectors, such as pharmaceuticals and personal care[1].

Health Concerns

Health concerns related to the use of menthol in certain products, such as menthol cigarettes, are a challenge. However, the safe and effective use of menthol in medical products is expected to mitigate these concerns and drive growth[4].

Sales Projections

Global Market

The global menthol market is expected to grow from USD 4.8 billion in 2023 to USD 8.3 billion by 2033, with a CAGR of 5.8%[1].

L-Menthol Market

The global L-menthol market is projected to grow from USD 734.81 million in 2023 to USD 1071.67 million by 2031, at a CAGR of 4.83%[3].

Regional Sales

North America is expected to maintain its dominant position, while the Asia-Pacific region is anticipated to experience strong growth driven by the expansion of the pharmaceutical and personal care industries[1][3].

Key Takeaways

Market Growth: The menthol market is expected to grow significantly, driven by increasing demand from pharmaceuticals, personal care, and other sectors.
Dominant Segments: Pharmaceutical grade menthol and pharmaceutical applications dominate the market.
Regional Dominance: North America leads the market, with Asia-Pacific expected to grow rapidly.
Growth Drivers: Rise in OTC drug usage, innovations in product formulations, and consumer preference for natural ingredients are key drivers.
Challenges and Opportunities: Regulatory changes and health concerns present both challenges and opportunities for growth.

FAQs

What is the current market size of the menthol market?

The menthol market was valued at USD 4.8 billion in 2023[1].

What is the projected CAGR for the menthol market from 2024 to 2033?

The menthol market is expected to grow at a CAGR of 5.8% from 2024 to 2033[1].

Which region dominates the menthol market?

North America dominates the menthol market with a share of approximately 35%[1].

What are the primary applications of menthol?

The primary applications of menthol include pharmaceuticals, personal care products, food and beverages, and tobacco products[1].

How is the L-menthol market expected to grow?