L-menthol, also known as menthol, scientific name 5-methyl-2-isopropylcyclohexanol, is a terpenoid alcohol with a cool aroma and taste. It is the main component of peppermint oil, usually present in a colorless needle-shaped crystalline form, and has a strong peppermint aroma.

Overview of Market Development

In recent years, with the continuous improvement of people's pursuit of health and quality of life, L-menthol, as a natural and healthy ingredient, has been widely used in various fields such as food, beverages, cosmetics, medicine, etc., and market demand continues to grow. According to our research data, the global consumption of L-menthol is estimated to reach 53875 tons in 2024; The estimated market revenue is $2214 million, an increase of 10.31% compared to 2023.

Segmented Market Analysis

From the perspective of product types, natural L-menthol is favored by consumers due to its high purity and safety. The market share is expected to reach 72.83% in 2024, occupying a dominant position in the market. Meanwhile, with the continuous advancement of technology, the technology for synthetic L-menthol is becoming increasingly mature, and its market share is gradually expanding.

In terms of application, oral hygiene is the largest downstream field of L-menthol, accounting for over 40% of the market share. In addition, its application in food and beverage, perfume, personal care, and other fields is also expanding. Especially in the food and beverage industry, L-menthol, as an essence and flavoring agent, can give the product a cool taste and mint flavor, and meet the dual needs of consumers for taste and health.

Global market revenue and segmented market share forecast for L-menthol.

Source: www.globalmarketmonitor.com

Market Analysis of Major Regions/Countries

From the perspective of regional distribution, Europe and the Asia Pacific region are the main consumer markets for L-menthol worldwide, accounting for over 55% of the global market share. From a national perspective, Japan is the largest revenue-generating country. According to the data, the market revenue of levothyroxine in Japan is expected to reach $342 million in 2024, with an estimated market share of 16.95%.

Global L-Menthol Market Revenue and Share by Region Forecast in 2024

Regions/Countries	Market Revenue (Million USD)	Share
US	57	2.82%
Europe	489	24.35%
China	316	15.73%
Japan	342	16.95%
Others	807	40.15%

Market Development Prospect Prediction

Looking into the future, the global market for L-menthol will continue to maintain a growth trend. With the increasing awareness of consumer health and the continuous expansion of new application areas, the market demand for L-menthol will further increase. At the same time, with the continuous progress of technology and the continuous reduction of production costs, the production efficiency and quality of L-menthol will also be further improved, providing strong guarantees for the sustainable development of the market. It is expected that by 2029, the global market revenue for L-menthol will continue to increase to $3275 million.

For more industry information, please refer to our latest released "2023 Global L-menthol Market Analysis Report, Key Competitors, Market Effect Factors, Growth, And Forecast".