Published on: December 03, 2019
The mints market size is forecast to increase by USD 1.42 billion at a CAGR of 3.53% between 2023 and 2028. The growth rate of the market depends on several factors, including new product launches in the market, high penetration of mints company on online channels and increased focus on oral health. Factors such as increasing health consciousness among consumers and the rising demand for mouth fresheners are also helping to drive growth.
Mints are used by many people to help maintain oral health and hygiene, with some products designed to address concerns such as plaque, discolored teeth, and foul odor. They offer solutions to consumers seeking fresh breath and oral care amidst challenges posed by factors like junk food consumption, tobacco, and alcohol use. Examples of mint products include sugar-free mints, chewing gum, and breath mints. Common ingredients include mint oil, botanical extracts, and xylitol.
Several trends are shaping the mints market, including the rising popularity of clean-labeled products, sugar-free mints, and mouth fresheners. Consumers are gravitating towards products made with botanical extracts and clean label ingredients. Premium ranges and products with clean labels are gaining customer appeal.
The growing awareness around oral health is helping to drive the market, as is the general trend towards healthy eating. Innovations in flavor and product formulation are also contributing to the market’s growth. Increasing health consciousness among consumers is fueling the demand for sugar-free mint confectionery and mouth fresheners.
Challenges facing the mints market include the need to address consumer concerns about sugar content, food colors, and sweeteners. Ensuring shelf life and meeting processing requirements while maintaining the integrity of organic and clean-label products can also pose challenges for manufacturers. Overcoming challenges related to ingredient sourcing, formulation, and consumer preferences will be crucial for sustained success in this dynamic market.
North America is projected to account for 54% of the global market’s growth by 2028. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
North America has a large and diverse consumer base with significant purchasing power. The region's large population size and high consumption rates contribute to the demand for mints. They are very popular in North America, where there is a strong cultural emphasis on oral hygiene and fresh breath. The convenience and portability of mints make them a preferred choice among consumers seeking quick refreshments throughout the day. There is a growing trend toward health-consciousness and mindful eating habits in North America, leading to increased demand for sugar-free and low-calorie mints. Consumers are increasingly mindful of their sugar intake and are attracted to mints that offer additional health benefits.
Technavio's mints industry reports monitor the leading players in the global market along with their current and forecasted market share. Our analysis covers regional and global companies. Some of the top companies covered in our mints market reports include:
In order to provide you with a comprehensive view of the mints industry, our experts analyze the market from many different perspectives. Our reports help identify opportunities, risks, key competitors, and more, helping you make timely, informed decisions to optimize your position in the market.
Technavio reports insights include:
Develop a deeper understanding of the mints market with Technavio’s comprehensive market research reports. We provide the latest information on key industry dynamics, including global and regional market forecasts, internal and external pressure points, the vendor landscape, and more.
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