Menthol Crystal Price Trend and Forecast

Menthol Crystal Regional Price Overview

Get the latest insights on price movement and trend analysis of Menthol Crystal in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Menthol Crystal Price Trend for the First Half of 2024

In the first half of 2024, the prices of menthol crystals exhibited considerable volatility, driven by fluctuations in the prices of mentha oil, their primary feedstock. Mentha oil, largely produced in India, is directly tied to the production of menthol crystals. Price movements of menthol crystals mirrored those of mentha oil, influenced by factors such as international demand from key markets like the U.S. and China, variations in the USD-INR exchange rate, and an increase in the import of synthetic menthol into India.
 

Menthol Crystal Price Chart

Please Login or Subscribe to Access the Menthol Crystal Price Chart Data
 

The market for menthol crystals was further affected by rising demand for menthol-based products, including non-tobacco menthol smokes and nicotine-free e-cigarettes, particularly in light of regulatory changes limiting the sale of menthol cigarettes. As these alternatives gained traction among consumers seeking menthol flavor without tobacco, demand for menthol crystals surged, contributing to upward price pressure.

Additionally, domestic challenges, such as weather-related impacts on mentha crop yields and increased costs due to price volatility, further influenced menthol crystal prices. The availability of synthetic menthol at competitive prices added complexity to the market dynamics, creating challenges for natural mentha oil producers in India. Overall, the pricing trends for menthol crystals in H1’24 reflected a combination of global demand shifts, supply chain constraints, and regulatory changes, underscoring their interconnectedness with the broader mentha oil market.

Analyst Insight

According to Procurement Resource, the market projections look positive for Menthol Crystals as rising downstream demands suggest a further incline in prices.
 

Menthol Crystal Price Trend for the Second Half of 2023

Menthol crystals are directly made from mint oil by taking their temperature to extremely low levels and crystallizing them. So, the menthol crystal price trends are in direct correlation with the price trend of its feedstock mint or mentha oil. During the said period of quarters three and four of the year 2023, the menthol crystal prices were observed to fluctuate regionally for the entire span.

The Asian market exuded borderline stability as the market attributes were well within the anticipated ranges of fluctuation. However, the American market struggled a little. The third quarter started seeing an uptick in the price graph primarily because of the supply curtailments. These supply restraints were a result of some disease in the local mint varieties. This uphill trend continued for some time in the fourth quarter as well; however, the demand dips in the latter months balanced the situation a little bit. Overall, positive market sentiments were witnessed.

Analyst Insight

According to Procurement Resource, Menthol Crystal price trends are likely to continue to vary in a similar manner going forward as well. The demand projections look supportive of the market trends.
 

Menthol Crystals Price Trend for the First Half of 2023

Menthol crystals are naturally derived from the mint family and have a strong, minty aroma and cooling sensation. It is thus popularly used in the pharmaceutical and cosmetic industries for soothing and analgesic purposes. It is also used as a flavoring agent in the food and beverage sector in the production of various confections, gums, and beverages, as it gives a refreshing taste to the food products. Its price trend is thus dependent on the market sentiments of these industries and also on the price trend of Mentha oil from which it is derived.

In the first two quarters of 2023, the price trend of menthol crystals fluctuated but maintained a negative trajectory. Initially, in the first quarter, the rise in the prices of menthol crystals was supported by limited production. But in the following months, the production activities caught up with the demand for menthol crystals. The prices thus began to decline as, along with surplus production, the trading activities were under the pressure of growing concerns about recession and the ill economic effects of the failure of two major US banks.

In China, the situation became much more dire as amid the economic turmoil, the demand for menthol crystals also fell consistently, and the rates of exports slumped significantly. In addition to this, imports from other nations flooded the market, making it difficult for the price trend of menthol crystals to grow.

Analyst Insight

According to Procurement Resource, the price of Menthol Crystals is expected to follow an oscillating trajectory amid an uneven trend adopted by the production of mentha oil and plunging demand from the downstream sectors.

Procurement Resource provides latest prices of Menthol Crystal. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.