Summary

The global market for Menthol was estimated to be worth US$ 818 million in 2024 and is forecast to a readjusted size of US$ 1230 million by 2031 with a CAGR of 6.1% during the forecast period 2025-2031.
This report provides a comprehensive assessment of recent tariff adjustments and international strategic countermeasures on Menthol cross-border industrial footprints, capital allocation patterns, regional economic interdependencies, and supply chain reconfigurations.
Menthol is an organic compound with the chemical formula C10H20O that occurs naturally in mint and some other plants. It can be extracted from the leaves by distillation, and it can be made synthetically. Pure menthol is a crystalline solid. The compound is widely used in cough and cold remedies because of its soothing effects and as a flavoring in candy, chewing gum, medical products and cigarettes. The data of the report is based on the menthol product with purity of 99%min. And other products in lower menthol purity have been converted in the equivalent of 100%.
Agson Global, Symrise AG, Takasago, Arora Aromatics, Tienyuan Chem and Nantong Menthol Factory are the main producers of Menthol. Agson Global is the world's largest, with a market share of about 15%, and the top 3 accounting for about 25%. The Asia-Pacific region is the most important market, accounting for about 60% of the market, followed by Americas at about 20%.
Menthol is mainly classified into the following types: Natural Type and Synthetic Type. Natural Type is the most widely used type which takes up about 71.2% of the total sales.
Menthol has wide range of applications, such as oral hygiene, pharmaceuticals, tobacco etc. And oral hygiene was the most widely used area which took up about 50.2% of the global total. In 2021H1, both United States and EU banned menthol-flavor cigarettes, which will lead the rapid decline in the using of tobacco application.
This report aims to provide a comprehensive presentation of the global market for Menthol, focusing on the total sales volume, sales revenue, price, key companies market share and ranking, together with an analysis of Menthol by region & country, by Type, and by Application.
The Menthol market size, estimations, and forecasts are provided in terms of sales volume (MT) and sales revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Menthol.
Market Segmentation
By Company
Agson Global
Symrise AG
BASF
Takasago
Arora Aromatics
Swati Menthol & Allied Chem
NecLife
Bhagat Aromatics
KM Chemicals
Silverline Chemicals
A.G. Industries
Mentha & Allied Products
Neeru Enterprises
Vinayak
Hindustan Mint&Agro Products
Nantong Menthol Factory
Tienyuan Chem
Fengle Perfume
Yinfeng Pharma
Great Nation Essential Oils
Xiangsheng Perfume
Ifan Chem
WanHua Chemical
Segment by Type
Natural Menthol
Synthetical Menthol
Segment by Application
Oral Hygiene
Pharmaceuticals
Tobacco
Confectionaries
Other
By Region
North America
United States
Canada
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia-Pacific
Europe
Germany
France
U.K.
Italy
Netherlands
Nordic Countries
Rest of Europe
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, global total market size (value, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 2: Detailed analysis of Menthol manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Sales, revenue of Menthol in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 6: Sales, revenue of Menthol in country level. It provides sigmate data by Type, and by Application for each country/region.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.

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Table of Contents

1 Market Overview
1.1 Menthol Product Introduction
1.2 Global Menthol Market Size Forecast
1.2.1 Global Menthol Sales Value (2020-2031)
1.2.2 Global Menthol Sales Volume (2020-2031)
1.2.3 Global Menthol Sales Price (2020-2031)
1.3 Menthol Market Trends & Drivers
1.3.1 Menthol Industry Trends
1.3.2 Menthol Market Drivers & Opportunity
1.3.3 Menthol Market Challenges
1.3.4 Menthol Market Restraints
1.4 Assumptions and Limitations
1.5 Study Objectives
1.6 Years Considered
2 Competitive Analysis by Company
2.1 Global Menthol Players Revenue Ranking (2024)
2.2 Global Menthol Revenue by Company (2020-2025)
2.3 Global Menthol Players Sales Volume Ranking (2024)
2.4 Global Menthol Sales Volume by Company Players (2020-2025)
2.5 Global Menthol Average Price by Company (2020-2025)
2.6 Key Manufacturers Menthol Manufacturing Base and Headquarters
2.7 Key Manufacturers Menthol Product Offered
2.8 Key Manufacturers Time to Begin Mass Production of Menthol
2.9 Menthol Market Competitive Analysis
2.9.1 Menthol Market Concentration Rate (2020-2025)
2.9.2 Global 5 and 10 Largest Manufacturers by Menthol Revenue in 2024
2.9.3 Global Top Manufacturers by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in Menthol as of 2024)
2.10 Mergers & Acquisitions, Expansion
3 Segmentation by Type
3.1 Introduction by Type
3.1.1 Natural Menthol
3.1.2 Synthetical Menthol
3.2 Global Menthol Sales Value by Type
3.2.1 Global Menthol Sales Value by Type (2020 VS 2024 VS 2031)
3.2.2 Global Menthol Sales Value, by Type (2020-2031)
3.2.3 Global Menthol Sales Value, by Type (%) (2020-2031)
3.3 Global Menthol Sales Volume by Type
3.3.1 Global Menthol Sales Volume by Type (2020 VS 2024 VS 2031)
3.3.2 Global Menthol Sales Volume, by Type (2020-2031)
3.3.3 Global Menthol Sales Volume, by Type (%) (2020-2031)
3.4 Global Menthol Average Price by Type (2020-2031)
4 Segmentation by Application
4.1 Introduction by Application
4.1.1 Oral Hygiene
4.1.2 Pharmaceuticals
4.1.3 Tobacco
4.1.4 Confectionaries
4.1.5 Other
4.2 Global Menthol Sales Value by Application
4.2.1 Global Menthol Sales Value by Application (2020 VS 2024 VS 2031)
4.2.2 Global Menthol Sales Value, by Application (2020-2031)
4.2.3 Global Menthol Sales Value, by Application (%) (2020-2031)
4.3 Global Menthol Sales Volume by Application
4.3.1 Global Menthol Sales Volume by Application (2020 VS 2024 VS 2031)
4.3.2 Global Menthol Sales Volume, by Application (2020-2031)
4.3.3 Global Menthol Sales Volume, by Application (%) (2020-2031)
4.4 Global Menthol Average Price by Application (2020-2031)
5 Segmentation by Region
5.1 Global Menthol Sales Value by Region
5.1.1 Global Menthol Sales Value by Region: 2020 VS 2024 VS 2031
5.1.2 Global Menthol Sales Value by Region (2020-2025)
5.1.3 Global Menthol Sales Value by Region (2026-2031)
5.1.4 Global Menthol Sales Value by Region (%), (2020-2031)
5.2 Global Menthol Sales Volume by Region
5.2.1 Global Menthol Sales Volume by Region: 2020 VS 2024 VS 2031
5.2.2 Global Menthol Sales Volume by Region (2020-2025)
5.2.3 Global Menthol Sales Volume by Region (2026-2031)
5.2.4 Global Menthol Sales Volume by Region (%), (2020-2031)
5.3 Global Menthol Average Price by Region (2020-2031)
5.4 North America
5.4.1 North America Menthol Sales Value, 2020-2031
5.4.2 North America Menthol Sales Value by Country (%), 2024 VS 2031
5.5 Europe
5.5.1 Europe Menthol Sales Value, 2020-2031
5.5.2 Europe Menthol Sales Value by Country (%), 2024 VS 2031
5.6 Asia Pacific
5.6.1 Asia Pacific Menthol Sales Value, 2020-2031
5.6.2 Asia Pacific Menthol Sales Value by Region (%), 2024 VS 2031
5.7 South America
5.7.1 South America Menthol Sales Value, 2020-2031
5.7.2 South America Menthol Sales Value by Country (%), 2024 VS 2031
5.8 Middle East & Africa
5.8.1 Middle East & Africa Menthol Sales Value, 2020-2031
5.8.2 Middle East & Africa Menthol Sales Value by Country (%), 2024 VS 2031
6 Segmentation by Key Countries/Regions
6.1 Key Countries/Regions Menthol Sales Value Growth Trends, 2020 VS 2024 VS 2031
6.2 Key Countries/Regions Menthol Sales Value and Sales Volume
6.2.1 Key Countries/Regions Menthol Sales Value, 2020-2031
6.2.2 Key Countries/Regions Menthol Sales Volume, 2020-2031
6.3 United States
6.3.1 United States Menthol Sales Value, 2020-2031
6.3.2 United States Menthol Sales Value by Type (%), 2024 VS 2031
6.3.3 United States Menthol Sales Value by Application, 2024 VS 2031
6.4 Europe
6.4.1 Europe Menthol Sales Value, 2020-2031
6.4.2 Europe Menthol Sales Value by Type (%), 2024 VS 2031
6.4.3 Europe Menthol Sales Value by Application, 2024 VS 2031
6.5 China
6.5.1 China Menthol Sales Value, 2020-2031
6.5.2 China Menthol Sales Value by Type (%), 2024 VS 2031
6.5.3 China Menthol Sales Value by Application, 2024 VS 2031
6.6 Japan
6.6.1 Japan Menthol Sales Value, 2020-2031
6.6.2 Japan Menthol Sales Value by Type (%), 2024 VS 2031
6.6.3 Japan Menthol Sales Value by Application, 2024 VS 2031
6.7 South Korea
6.7.1 South Korea Menthol Sales Value, 2020-2031
6.7.2 South Korea Menthol Sales Value by Type (%), 2024 VS 2031
6.7.3 South Korea Menthol Sales Value by Application, 2024 VS 2031
6.8 Southeast Asia
6.8.1 Southeast Asia Menthol Sales Value, 2020-2031
6.8.2 Southeast Asia Menthol Sales Value by Type (%), 2024 VS 2031
6.8.3 Southeast Asia Menthol Sales Value by Application, 2024 VS 2031
6.9 India
6.9.1 India Menthol Sales Value, 2020-2031
6.9.2 India Menthol Sales Value by Type (%), 2024 VS 2031
6.9.3 India Menthol Sales Value by Application, 2024 VS 2031
7 Company Profiles
7.1 Agson Global
7.1.1 Agson Global Company Information
7.1.2 Agson Global Introduction and Business Overview
7.1.3 Agson Global Menthol Sales, Revenue, Price and Gross Margin (2020-2025)
7.1.4 Agson Global Menthol Product Offerings
7.1.5 Agson Global Recent Development
7.2 Symrise AG
7.2.1 Symrise AG Company Information
7.2.2 Symrise AG Introduction and Business Overview
7.2.3 Symrise AG Menthol Sales, Revenue, Price and Gross Margin (2020-2025)
7.2.4 Symrise AG Menthol Product Offerings
7.2.5 Symrise AG Recent Development
7.3 BASF
7.3.1 BASF Company Information
7.3.2 BASF Introduction and Business Overview
7.3.3 BASF Menthol Sales, Revenue, Price and Gross Margin (2020-2025)
7.3.4 BASF Menthol Product Offerings
7.3.5 BASF Recent Development
7.4 Takasago
7.4.1 Takasago Company Information
7.4.2 Takasago Introduction and Business Overview
7.4.3 Takasago Menthol Sales, Revenue, Price and Gross Margin (2020-2025)
7.4.4 Takasago Menthol Product Offerings
7.4.5 Takasago Recent Development
7.5 Arora Aromatics
7.5.1 Arora Aromatics Company Information
7.5.2 Arora Aromatics Introduction and Business Overview
7.5.3 Arora Aromatics Menthol Sales, Revenue, Price and Gross Margin (2020-2025)
7.5.4 Arora Aromatics Menthol Product Offerings
7.5.5 Arora Aromatics Recent Development
7.6 Swati Menthol & Allied Chem
7.6.1 Swati Menthol & Allied Chem Company Information
7.6.2 Swati Menthol & Allied Chem Introduction and Business Overview
7.6.3 Swati Menthol & Allied Chem Menthol Sales, Revenue, Price and Gross Margin (2020-2025)
7.6.4 Swati Menthol & Allied Chem Menthol Product Offerings
7.6.5 Swati Menthol & Allied Chem Recent Development
7.7 NecLife
7.7.1 NecLife Company Information
7.7.2 NecLife Introduction and Business Overview
7.7.3 NecLife Menthol Sales, Revenue, Price and Gross Margin (2020-2025)
7.7.4 NecLife Menthol Product Offerings
7.7.5 NecLife Recent Development
7.8 Bhagat Aromatics
7.8.1 Bhagat Aromatics Company Information
7.8.2 Bhagat Aromatics Introduction and Business Overview
7.8.3 Bhagat Aromatics Menthol Sales, Revenue, Price and Gross Margin (2020-2025)
7.8.4 Bhagat Aromatics Menthol Product Offerings
7.8.5 Bhagat Aromatics Recent Development
7.9 KM Chemicals
7.9.1 KM Chemicals Company Information
7.9.2 KM Chemicals Introduction and Business Overview
7.9.3 KM Chemicals Menthol Sales, Revenue, Price and Gross Margin (2020-2025)
7.9.4 KM Chemicals Menthol Product Offerings
7.9.5 KM Chemicals Recent Development
7.10 Silverline Chemicals
7.10.1 Silverline Chemicals Company Information
7.10.2 Silverline Chemicals Introduction and Business Overview
7.10.3 Silverline Chemicals Menthol Sales, Revenue, Price and Gross Margin (2020-2025)
7.10.4 Silverline Chemicals Menthol Product Offerings
7.10.5 Silverline Chemicals Recent Development
7.11 A.G. Industries
7.11.1 A.G. Industries Company Information
7.11.2 A.G. Industries Introduction and Business Overview
7.11.3 A.G. Industries Menthol Sales, Revenue, Price and Gross Margin (2020-2025)
7.11.4 A.G. Industries Menthol Product Offerings
7.11.5 A.G. Industries Recent Development
7.12 Mentha & Allied Products
7.12.1 Mentha & Allied Products Company Information
7.12.2 Mentha & Allied Products Introduction and Business Overview
7.12.3 Mentha & Allied Products Menthol Sales, Revenue, Price and Gross Margin (2020-2025)
7.12.4 Mentha & Allied Products Menthol Product Offerings
7.12.5 Mentha & Allied Products Recent Development
7.13 Neeru Enterprises
7.13.1 Neeru Enterprises Company Information
7.13.2 Neeru Enterprises Introduction and Business Overview
7.13.3 Neeru Enterprises Menthol Sales, Revenue, Price and Gross Margin (2020-2025)
7.13.4 Neeru Enterprises Menthol Product Offerings
7.13.5 Neeru Enterprises Recent Development
7.14 Vinayak
7.14.1 Vinayak Company Information
7.14.2 Vinayak Introduction and Business Overview
7.14.3 Vinayak Menthol Sales, Revenue, Price and Gross Margin (2020-2025)
7.14.4 Vinayak Menthol Product Offerings
7.14.5 Vinayak Recent Development
7.15 Hindustan Mint&Agro Products
7.15.1 Hindustan Mint&Agro Products Company Information
7.15.2 Hindustan Mint&Agro Products Introduction and Business Overview
7.15.3 Hindustan Mint&Agro Products Menthol Sales, Revenue, Price and Gross Margin (2020-2025)
7.15.4 Hindustan Mint&Agro Products Menthol Product Offerings
7.15.5 Hindustan Mint&Agro Products Recent Development
7.16 Nantong Menthol Factory
7.16.1 Nantong Menthol Factory Company Information
7.16.2 Nantong Menthol Factory Introduction and Business Overview
7.16.3 Nantong Menthol Factory Menthol Sales, Revenue, Price and Gross Margin (2020-2025)
7.16.4 Nantong Menthol Factory Menthol Product Offerings
7.16.5 Nantong Menthol Factory Recent Development
7.17 Tienyuan Chem
7.17.1 Tienyuan Chem Company Information
7.17.2 Tienyuan Chem Introduction and Business Overview
7.17.3 Tienyuan Chem Menthol Sales, Revenue, Price and Gross Margin (2020-2025)
7.17.4 Tienyuan Chem Menthol Product Offerings
7.17.5 Tienyuan Chem Recent Development
7.18 Fengle Perfume
7.18.1 Fengle Perfume Company Information
7.18.2 Fengle Perfume Introduction and Business Overview
7.18.3 Fengle Perfume Menthol Sales, Revenue, Price and Gross Margin (2020-2025)
7.18.4 Fengle Perfume Menthol Product Offerings
7.18.5 Fengle Perfume Recent Development
7.19 Yinfeng Pharma
7.19.1 Yinfeng Pharma Company Information
7.19.2 Yinfeng Pharma Introduction and Business Overview
7.19.3 Yinfeng Pharma Menthol Sales, Revenue, Price and Gross Margin (2020-2025)
7.19.4 Yinfeng Pharma Menthol Product Offerings
7.19.5 Yinfeng Pharma Recent Development
7.20 Great Nation Essential Oils
7.20.1 Great Nation Essential Oils Company Information
7.20.2 Great Nation Essential Oils Introduction and Business Overview
7.20.3 Great Nation Essential Oils Menthol Sales, Revenue, Price and Gross Margin (2020-2025)
7.20.4 Great Nation Essential Oils Menthol Product Offerings
7.20.5 Great Nation Essential Oils Recent Development
7.21 Xiangsheng Perfume
7.21.1 Xiangsheng Perfume Company Information
7.21.2 Xiangsheng Perfume Introduction and Business Overview
7.21.3 Xiangsheng Perfume Menthol Sales, Revenue, Price and Gross Margin (2020-2025)
7.21.4 Xiangsheng Perfume Menthol Product Offerings
7.21.5 Xiangsheng Perfume Recent Development
7.22 Ifan Chem
7.22.1 Ifan Chem Company Information
7.22.2 Ifan Chem Introduction and Business Overview
7.22.3 Ifan Chem Menthol Sales, Revenue, Price and Gross Margin (2020-2025)
7.22.4 Ifan Chem Menthol Product Offerings
7.22.5 Ifan Chem Recent Development
7.23 WanHua Chemical
7.23.1 WanHua Chemical Company Information
7.23.2 WanHua Chemical Introduction and Business Overview
7.23.3 WanHua Chemical Menthol Sales, Revenue, Price and Gross Margin (2020-2025)
7.23.4 WanHua Chemical Menthol Product Offerings
7.23.5 WanHua Chemical Recent Development
8 Industry Chain Analysis
8.1 Menthol Industrial Chain
8.2 Menthol Upstream Analysis
8.2.1 Key Raw Materials
8.2.2 Raw Materials Key Suppliers
8.2.3 Manufacturing Cost Structure
8.3 Midstream Analysis
8.4 Downstream Analysis (Customers Analysis)
8.5 Sales Model and Sales Channels
8.5.1 Menthol Sales Model
8.5.2 Sales Channel
8.5.3 Menthol Distributors
9 Research Findings and Conclusion
10 Appendix
10.1 Research Methodology
10.1.1 Methodology/Research Approach
10.1.1.1 Research Programs/Design
10.1.1.2 Market Size Estimation
10.1.1.3 Market Breakdown and Data Triangulation
10.1.2 Data Source
10.1.2.1 Secondary Sources
10.1.2.2 Primary Sources
10.2 Author Details
10.3 Disclaimer