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Menthol Price Trend Analysis 2026: Latest News, Historical Prices, Market Insights, Price Drivers & Supply Demand Analysis
Written ByPrakhar Panchbhaiya
Menthol Latest Development
India advances huge green hydrogen hub
NTPC Green Energy tendered a water demineralisation plant for its planned 7GW green hydrogen-based chemicals hub in Andhra Pradesh. The project targets 2.5 million tonnes per year of hydrogen-based chemicals, adding substantial future green hydrogen supply and likely easing price pressure.
Menthol Price Trend Q3 2026
- Menthol prices were firm in Q3 2026, supported by steady demand from consumer goods makers and higher costs across the flavour and fragrance chain.
- Freight, logistics and crude-linked input costs rose with Middle East disruptions, prompting flavour and fragrance houses to pass higher costs on to customers.
- Oral care, digestive and confectionery products grew steadily in Asia, while tobacco use in North America kept menthol demand stable despite tighter e-cigarette rules.
Menthol markets stayed firm through Q3 2026, as healthy demand met rising costs. Symrise reported double-digit growth in menthol sales in the second quarter, with recovery in Asia Pacific and North America, while higher freight and logistics costs linked to the Middle East weighed on margins. Major flavour and fragrance houses said they were raising prices to fully offset higher input costs, and growth in Asia Pacific was much stronger than in Europe. In India, the main natural menthol producer and consumer, demand from menthol-using categories stayed strong, as toothpaste volumes grew at a high single-digit pace and mint-based digestive products grew at double-digit rates. Consumer goods makers also reported input inflation of around 8% and used calibrated price increases to protect margins.
Analyst Insight
According to Procurement Resource, over the coming months, menthol prices are expected to stay firm on solid consumer demand and cost pass-through, though slower European growth may restrain sharp increases.
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- Global menthol markets remained firm in Q2’26 as limited natural mint oil availability supported prices before new crop supplies improved.
- Feedstock conditions were influenced by Indian Mentha arvensis oil availability, weather conditions and harvesting cycles.
- Downstream demand remained supported by pharmaceuticals, cosmetics and flavours, with India’s pharmaceutical exports increasing 7.12% year over year in April.
Menthol markets remained firm during April and May due to low carryover inventories, reduced Indian mint oil availability and delayed arrival of fresh crop material. Natural menthol production depended on Mentha arvensis oil supply, with harvesting timing, moisture conditions and steam distillation affecting oil recovery. An estimated 80–85-day gap before meaningful new oil availability increased supply concerns among pharmaceutical, flavour, fragrance and personal-care buyers. Heatwave conditions in northern India during late May increased crop uncertainty, although no confirmed production loss was reported. Fresh harvesting and distillation improved supply conditions in June, reducing immediate pressure. Beverage, confectionery and oral-care applications also supported consumption. However, slower Chinese chemical-sector growth reduced restocking activity among flavour, fragrance and ingredient manufacturers. Higher synthetic menthol production capacity following a new European plant start-up improved supply flexibility and limited further price increases.
About Menthol
Menthol is basically an organic compound that is made synthetically or derived from peppermint or mint oils with flavouring and local anaesthetic properties. When added to pharmaceuticals and foods, menthol functions as a fortifier for peppermint flavours. It is a waxy, crystalline substance. In appearance, it is clear or white in colour.
Menthol Product Detail
Chemical Formula
C10H20O
Molecular Weight
156.26g/mol
Industrial Uses
Odour agent, Air care products, Furnishing care products, Laundry and dishwashing products, Personal care products
Synonyms
2216-51-5 (chiral), 5-Methyl-2-(propan-2-yl) cyclohexan-1-ol, 2-Isopropyl-5-methylcyclohexan-1-ol, 2-Isopropyl-5-methylcyclohexanol, 3-p-Menthanol, Hexahydrothymol, Menthomenthol, Peppermint camphor
Supplier Database
Arora Aromatics Pvt. Ltd, Bhagat Aromatics Limited, N.S. Mint, Silverline Chemicals, Swati Menthol And Allied Chemicals Limited, Herbochem Industries
Regional Coverage
Asia Pacific
China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand
Europe
Germany, France, United Kingdom, Italy,Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
North America
United States and Canada
Latin America
Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
Africa
South Africa, Nigeria, Egypt, Algeria, Morocco
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Menthol Production Process
- Production of Menthol via Hydrogenation; and via Distillation, Filtration and Cooling
The hydrogenation process for Menthol production involves the reaction of carbon monoxide and hydrogen with thymol. Menthol is further be separated from its other isomers using the distillation process.
Our Price Analysis Methodology
About the Author
Prakhar Panchbhaiya
Assistant Manager: Business Insights and Content
Supporting procurement teams with category intelligence, market research, price trends, supply-demand analysis, and strategic sourcing insights across key industries.
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