India was the largest exporter with 63% of the world total, and the United States was the largest buyer.
What this market covers
Essential oil steam distilled from spearmint leaves and used in gum, toothpaste, flavors and fragrances. Buyers are oral care, confectionery and flavor houses.
Typical segments
- Native spearmint oil
- Scotch spearmint oil
- Organic spearmint oil
- Terpeneless spearmint oil
Why this market is moving now
- World trade shrank 76% from 2019 to 2024, a direct read on cross-border demand.
- Canada is gaining ground: its exports rose 25% from 2019 to 2024, the fastest among the ten largest exporters.
Key figures
Global figures for this market, with the year each one describes. Use Cite to copy a reference to this page.
| Figure | Value | Year | Cite |
|---|---|---|---|
| World exports of oils of mints (HS 330125), the trade category that includes spearmint oil, were worth $261.8 million in 2024. | 261.8 USD million | 2024 | |
| World exports were 76% lower in 2024 than in 2019 ($1.09 billion), calculated from the annual totals. | -76 % since 2019 | 2024 | |
| India was the largest exporter in 2024, with 63% of world exports ($163.9 million). | 63 % of world exports | 2024 | |
| The three largest exporters, India, the United States and China, shipped 81% of world exports in 2024. | 81 % of world exports | 2024 | |
| The United States was the largest importer in 2024, buying $59.5 million, or 23% of world imports. | 23 % of world imports | 2024 | |
| 13 countries exported more than $1 million of this product in 2024. | 13 countries | 2024 | |
| The average world export price was about $17.42 per kilogram in 2024, calculated from value and weight. | 17.42 USD per kg | 2024 | |
| Countries exported 15.0 thousand tonnes of this product in 2024. | 15.0 thousand tonnes | 2024 | |
| Among the ten largest exporters, Canada grew fastest, with exports up 25% from 2019 to 2024. | +25 % since 2019 | 2024 |
Calculated figures (shares, changes and prices per kilogram) are plain arithmetic on the reported values. Read how we work.
Buyers and suppliers
Who buys
- Oral care brands
- Chewing gum makers
- Flavor and fragrance houses
Largest exporting countries, 2024
Largest importing countries, 2024
What the full report covers
- 01Executive summary
The answer in one page: size, direction and what moves it - 02Market definition and scope
What is in and out of the global market - 03Global market size, 2021 to 2025
Historical series and growth rates - 04Countries and regions
Demand, supply and trade by country and region - 05Outlook to 2031
Base, low and high scenarios with stated assumptions - 06Rules, policy and deadlines
Regulation and programmes that change demand - 07Drivers and barriers
What accelerates or slows adoption, by customer segment - 08Prices, costs and margins
Unit economics where public data allows - 09Competitive landscape
8 to 12 company profiles with recent moves - 10Opportunities and risks
For new entrants, suppliers and investors - 11Method and assumptions
How every figure was built
Included with the full report
- PDF report, 40 to 60 pages
- Excel data pack
- Ready-to-use charts
- Method note and assumptions
- Written to order in 5 working days
Frequently asked questions
How big is the global spearmint oil market?
There is no single official market total. World exports of HS 330125 reached $261.8 million in 2024, a direct measure of cross-border trade.
Which countries export the most spearmint oil?
India led world exports in 2024 with 63% of the total, followed by the United States, China and Canada.
Which countries import the most spearmint oil?
The United States was the largest importer in 2024, followed by China, Germany and Singapore.
Is world trade in spearmint oil growing?
World exports were 76% lower in 2024 than in 2019.
What is the average export price of spearmint oil?
Dividing world export value by weight gives about $17.42 per kilogram in 2024.
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