Project report for Peppermint

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Introduction

Mint Cutivation is an agricultural activity which have a greater scope in India.The commercial cultivation of mint in India is estimated to cover 3,00,000 hectares of farmlands, 90% of the produce comes from the lowland regions of Uttar Pradesh, while the rest are from parts of Pajab, Haryana, Bihar, and Madhya Pradesh.It belongs to agricultural sector and Its majority raw material originates in India, enterprises are committing to improving the agricultural practices, to ensure sustainable production of better quality and higher quantity of mint yields.There can be significant increase in area of cultivation due to this. Peppermint oil is produced at the peppermint factory which is used in foods and drinks as flavoring, and in soaps and cosmetics as fragrance, also in dietary supplements. It may be used as a cure for muscle pain and digestion. It is a highly profitable and better oppourtunity for new and developing entreprenters.

Mints belong to the genus Menthe, in the family Labiate which includes other commonly grown essential oil-yielding plants such as basil, sage, rosemary, marjoram, lavender, pennyroyal and thyme. Within the genus Menthe there are several commercially grown species, varying in their major chemical content, aroma and end use.  Their oils and derived aroma compounds are traded world-wide. It is occasionally found in the wild with its parent species. Although the genus Menthe comprises more than 25 species, the one in most common use is peppermint. Menthe pipe Rita and Menthe haplocalyx are both recognized as plant sources of menthol and methane and are among the oldest herbs used for both culinary and medicinal products. India has attained position of primary and dominant source of mint oil and menthol in the world market, replacing China to a great extent due to price structure and comparable quality. At present, the growth in demand of oil and menthol in world trade is slow and unless its demand rises significantly in flavoring sector, there is little scope for any major expansion in cultivation area. However, because of rising input cost and expensive labor in South China, its cultivation there could presumably shrink and consequently Indian mint may find increasing larger market in next several years.

Market potential & Strategy

The global mint essential oil market demand was INR 13,31,87,47,212 in 2020. Noteworthy growth of end-use industries, such as aromatherapy, personal care and cosmetics, pharmaceuticals and food and beverage are expected to propel the product demand in the forthcoming years. Rapid technological advancements in oil extraction methods is anticipated to fuel the production and positively influence the growth. It may be used as a cure for muscle pain and digestion. In the forecast period 2020-2027, the rising demand for peppermint oil among humans will act as a driving factor for the peppermint essential oil market. Increasing disposable income of the people, growing demand for essential oil, rising awareness of personal care, rising demand for aromatherapy treatments are some of the factors that will enhance the growth of the peppermint essential oil market in the forecast period of 2020-2027. On the other hand, the demand for natural and chemical-free ingredient is growing among consumers will further create new opportunities for the peppermint essential oil market in the above mentioned period. Increasing urbanization coupled with high influence of social media has popularized natural plant extract-based healing treatments, such as spa and aromatherapy among consumers. This has increased the product penetration in the stress relieving spa and aromatherapy application. Rising prominence of aromatherapy owing to changing lifestyles coupled with growing media influence among the urban population is anticipated to further fuel the product demand in near future. 

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