Mints Market - Growth, Trends, and Forecast (2020 - 2025)
Mints market is forecasted to grow at a CAGR of 4.2% during the forecast period of (2019-2024).
- North America is the largest market for mint and breath fresheners, followed by Europe and Asia-Pacific. The market is North America is driven by an increase in the consumption of breath fresheners by smokers and alcohol consumers.
- Breath sweeteners include sugar confectionery, flavored with natural or synthetic mint oil, with varied mint concentration. Some of the popular products are Polo, Murray Mints, etc.
- Companies are using uniquely-designed metal tins for their premium range of breath sweetener packaging, in order to enhance the customer appeal of the product.
Scope of the Report
The scope of the report of the mint market includes by product type, the market is divided into power mints and standard mints. By distribution channel, the market is segmented into convenience stores, specialist retailers, supermarket and hypermarket, pharmacies, and other distribution channels.
Key Market Trends
Clean Label Ingredient Boost the Sales of Mints Market
The inclination of consumer preferences toward organic confectionary, owing to the types of the ingredients used, is driving the decision of the consumers. The use of botanical extracts in confectionery is high, due to consumers' expectations for authentic products, as they want clean-labeled products without compromising on the taste. Mint and its derivatives, such as peppermint, spearmint, and menthol, are the main flavor choices in the tablet category of the confectionery market. Further, due to constant emphasis on clean-labeled products and stricter government regulations on the amount of sugar content in food products, organic, vegan, GMO-free, sugar-free, and kosher food colors, sweeteners, and other ingredients are being used while manufacturing candies, which is likely to contribute to the growth of the category.
North America is the Largest Market
The rising health consciousness among the North American citizens is increasing the sales of sugar-free mint confectionary. This product posed a healthy competition to the market studied, in the recent year, with the introduction of hybrid products composed of mint. The American consumer preference for mint confectionery remains high, as compared to chewing gum, due to its oral benefit and low sugar content. Innovation in products, with various flavors, drives the mint market in the United States. An impulse purchase, convenient pack, innovation in products have fueled the growth of the market studied, in the region. The major companies in this region are Mondelēz International Inc., Mars Incorporated, and Ferrero.
With a huge global presence and wide distribution networks, the key players, such as Perfetti Van Melle, Mondelez International, Mars Incorporated, Nestle SA, and Hershey’s, hold the prominent shares in the global mint market. The market studied is competitive, with large number of multinational players competing for the market share. New flavor innovation, with attractive packaging, is the main strategy adopted by players.
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