The Global Natural and Synthetic Menthol Market was valued at USD 578 Million in 2025 and is projected to reach USD 907 Million by 2034, growing at a Compound Annual Growth Rate (CAGR) of 6.7% during the forecast period (2024–2034). This growth is being driven by the indispensable role of menthol in providing cooling sensations and fresh flavors across the oral care, pharmaceutical, and food & beverage industries, alongside the accelerating adoption of Natural Menthol due to rising consumer preference for clean-label ingredients.

As the global market navigates regulatory shifts away from tobacco applications and leans into health and wellness trends, the spotlight is on the key producers and distributors driving innovation, supply chain stability, and product development. In this blog, we profile the Top 10 Companies in the Natural and Synthetic Menthol Industry—a mix of global flavor & fragrance giants, specialized chemical producers, and agri-business leaders shaping the future of this essential ingredient.

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🔟 1. Symrise AG

Headquarters: Holzminden, Germany
Key Offering: Natural Menthol, Synthetic Menthol, and Custom Flavor Solutions

Symrise AG is a global leader in taste, nutrition, and scent, and a major force in the menthol market. Their comprehensive portfolio includes both natural menthol derived from mint oil and high-purity synthetic alternatives. The company serves a vast range of industries, from oral care and pharmaceuticals to fine fragrances and confectionery, leveraging deep R&D capabilities to create differentiated sensory experiences for global brands.

Sustainability and Innovation Initiatives:

• Commitment to sustainable sourcing of natural raw materials

• Investment in advanced synthesis and purification technologies

• Development of novel cooling agents and encapsulation techniques for longer-lasting effects

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Natural and Synthetic Menthol Market – View in Detailed Research Report

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9️⃣ 2. Takasago International Corporation

Headquarters: Tokyo, Japan
Key Offering: L-Menthol (Natural & Synthetic), Flavor & Fragrance Compounds

Takasago International is a venerable name in the flavor and fragrance industry with a significant presence in the menthol market. Renowned for its expertise in aroma chemical synthesis, Takasago is a key supplier of high-purity menthol to consumer goods manufacturers worldwide, with a strong focus on quality and consistency for applications in oral hygiene and over-the-counter pharmaceuticals.

Sustainability and Innovation Initiatives:

• Pioneering work in the asymmetric synthesis of L-menthol

• Strategic focus on expanding production capacity for high-demand markets

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8️⃣ 3. BASF SE

Headquarters: Ludwigshafen, Germany
Key Offering: Synthetic Menthol, Aroma Ingredients

BASF is a global chemical powerhouse and a leading producer of synthetic menthol. Its production process ensures a consistent, high-quality supply independent of agricultural variables, making it a critical partner for industries requiring large volumes and stable pricing. BASF’s menthol is a key ingredient in a wide array of products, from toothpaste and chewing gum to topical pain relievers.

Sustainability and Innovation Initiatives:

• Focus on efficient, integrated chemical production processes

• Development of sustainable bio-based routes for aroma chemical production

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7️⃣ 4. Agson Global

Headquarters: Mumbai, India
Key Offering: Natural Menthol Crystals, Mentha Oil, Peppermint Oil

Agson Global is a prominent Indian player specializing in natural menthol and mint products. Leveraging its location in a major mint-growing region, the company is a key supplier of natural menthol crystals and derivatives to both domestic and international markets. Its strength lies in its integrated supply chain, from sourcing to refining.

Sustainability and Innovation Initiatives:

• Direct engagement with farmers for sustainable mentha cultivation

• Investment in modern distillation and crystallization facilities

Download FREE Sample Report:
Natural and Synthetic Menthol Market – View in Detailed Research Report

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6️⃣ 5. Nantong Menthol Factory Co., Ltd.

Headquarters: Nantong, Jiangsu, China
Key Offering: Synthetic Menthol, Natural Menthol, Mentha Oil

Nantong Menthol Factory is one of China’s largest and most established manufacturers of menthol. The company has significant production capabilities for both synthetic and natural menthol, catering to the vast domestic market as well as export customers. Its strategic position allows it to serve the growing Asia-Pacific demand efficiently.

Sustainability and Innovation Initiatives:

• Continuous process optimization to improve yield and purity

• Expansion of product portfolio to include various menthol grades for specific applications

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5️⃣ 6. KM Chemicals

Headquarters: Delhi, India
Key Offering: Natural Menthol, Dipentene, Terpene-based Products

KM Chemicals is a leading Indian manufacturer and exporter of essential oils and aroma chemicals, with a strong focus on natural menthol. The company has built a reputation for quality and reliability, supplying menthol crystals and powder to the pharmaceutical, oral care, and flavor industries globally.

Sustainability and Innovation Initiatives:

• Strong backward integration with mint oil production

• Focus on meeting stringent international quality standards (IP, BP, USP grades)

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4️⃣ 7. Hindustan Mint & Agro Products Pvt. Ltd.

Headquarters: Ghaziabad, Uttar Pradesh, India
Key Offering: Mentha Oil, Natural Menthol Crystals, Dementholized Oil

Hindustan Mint & Agro Products is a key integrated player in the Indian mint industry. The company is involved in the entire value chain, from the cultivation of mentha plants to the extraction of mentha oil and the final production of high-purity menthol crystals. This vertical integration provides a competitive edge in terms of cost and supply security.

Sustainability and Innovation Initiatives:

• Promotion of sustainable agricultural practices among contract farmers

• Investment in state-of-the-art processing technology

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3️⃣ 8. Arora Aromatics Pvt. Ltd.

Headquarters: Mohali, Punjab, India
Key Offering: Natural Menthol, Spearmint Oil, Peppermint Oil

Arora Aromatics is a significant manufacturer and exporter of mint products from India. The company specializes in natural menthol and various mint oils, serving a diverse clientele in the food, pharmaceutical, and fragrance sectors. Their expertise in distillation and purification ensures a consistent and high-quality product.

Sustainability and Innovation Initiatives:

• Focus on R&D to improve extraction efficiencies

• Building long-term partnerships with global buyers

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2️⃣ 9. Fengle Perfume Co., Ltd.

Headquarters: Shanghai, China
Key Offering: Synthetic Menthol, Aroma Chemicals

Fengle Perfume is a major Chinese producer of synthetic aroma chemicals, including menthol. The company supplies the domestic and international markets with cost-effective synthetic menthol, which is crucial for applications where price stability and large-volume supply are paramount. Its strong manufacturing base supports the growing demand from Asia.

Sustainability and Innovation Initiatives:

• Scaling up production capacity to meet rising global demand

• Adherence to international safety and environmental standards

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1️⃣ 10. Swati Menthol & Allied Chemicals Ltd.

Headquarters: Lucknow, Uttar Pradesh, India
Key Offering: Natural Menthol Crystals, Mentha Oil

Swati Menthol & Allied Chemicals is a well-established Indian company dedicated to the production of natural menthol and its derivatives. With a strong foundation in one of the world’s primary mentha-growing regions, the company is a reliable supplier to the pharmaceutical and flavor industries, emphasizing purity and customer-specific solutions.

Sustainability and Innovation Initiatives:

• Implementation of advanced quality control systems

• Exploration of new application areas for menthol beyond traditional uses

Get Full Report Here:
Natural and Synthetic Menthol Market – View in Detailed Research Report

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🌱 Outlook: The Future of Menthol is Natural, Regulated, and Innovative

The natural and synthetic menthol market is undergoing a significant transformation. While the tobacco segment faces headwinds, the industry is investing in innovation and adapting to strong demand from the oral care, pharmaceutical, and food sectors, where the preference for natural ingredients is accelerating.

📈 Key Trends Shaping the Market:

• Accelerated growth of natural menthol driven by clean-label consumer trends

• Regulatory phase-outs of menthol in tobacco products in key Western markets

• Innovation in encapsulation and delivery systems for enhanced sensory effects

• Strategic expansion of production capacity in Asia-Pacific to cater to regional demand

Get Full Report Here:
Natural and Synthetic Menthol Market – View in Detailed Research Report

The companies listed above are not only supplying a fundamental sensory ingredient—they’re at the forefront of adapting to a dynamic regulatory landscape and evolving consumer preferences for naturalness and wellness.