A One-Page Introduction to the New Product: Is the Menthol Market Highly Promising?

L-Menthol and plant-derived mint oil (of which L-menthol is the primary component) share similar characteristics—fresh, penetrating, slightly pungent sweetness with strong cooling effects. In contrast, D-menthol exhibits a woody aroma with a faint camphor-like odor; thus, L-menthol holds higher application value than D-menthol. Currently, menthol is widely used across fragrance & flavor, fine daily chemical products, healthcare, and cosmetics. Figure 1 Menthol Industrial Chain Diagram According to Pingtouge’s investigation, the main globally industrialized production processes currently include: the m-cresol process developed by German company Symrise, the citronellol oil process by Japanese company Takasago, and the citral process by BASF. Symrise uses m-cresol as raw material; BASF employs citral; and Takasago utilizes myrcene. Although these producers use different feedstocks, all have achieved industrial-scale menthol production. Among them, only Symrise can produce racemic D,L-menthol and subsequently separate out L-menthol. Takasago was the first company worldwide to achieve industrialized synthesis of L-menthol. Its process starts from myrcene, which undergoes amination to yield geranylamine. Geranylamine then undergoes asymmetric hydrogen-transfer rearrangement in the presence of a chiral ligand to form a chiral enamine intermediate. Hydrolysis of this intermediate yields chiral citronellal, which is subsequently subjected to Lewis acid-catalyzed cyclization and hydrogenation to afford chiral L-menthol. Symrise is currently the world’s largest menthol producer, offering diverse product types—including single-enantiomer menthol, racemic menthol, and liquid menthol. BASF employs two routes for synthesizing L-menthol from citral: one older route involves reducing citral to geraniol and nerol, followed by ruthenium/BINAP-catalyzed reduction to citronellol, and oxidation to citronellal; the other more direct route entails chiral reduction of geranial to citronellal using a rhodium–Chiraphos complex as the chiral catalytic system. According to Fragrance Network, India is the world’s leading producer and exporter of mint oil, primarily extracted from mint leaves. In India, mint oil is extensively used to crystallize menthol via slow freezing, crystallization, centrifugation, and drying. The resulting menthol crystals are widely applied in India’s pharmaceutical and fragrance & flavor industries, and are also exported globally. Mint oil and menthol crystal trading is highly active in the Indian market. Due to its characteristic minty aroma and pronounced cooling effect, menthol commands high commercial value and ranks among the world’s top-selling fragrance ingredients. Figure 2 China’s Menthol Imports and Exports (Unit: 10,000 tons) According to Pingtouge’s investigation, global annual menthol consumption stands at approximately 50,000 tons. Major overseas industrial producers include Takasago (Japan), BASF (Germany), and Symrise (Germany). Symrise is the world’s largest menthol manufacturer, with an annual output of about 18,000 tons; BASF follows closely with ~17,000 tons annually; and Takasago produces roughly 6,000 tons per year. In China, only Zhejiang NHU Co., Ltd. and Longhui Co., Ltd. have achieved industrialized menthol production. NHU announced on its official WeChat account on October 19, 2022, that its menthol product had officially entered the market. Starting small-scale trials in 2012, NHU successfully established its full production chain—from citral (following BASF’s route) to menthol—by 2022. It currently possesses an L-menthol capacity of 5,000 tons/year, with plans to expand total capacity to 10,000 tons/year in the future.

Must-Read for the Industry! Leading Global Cosmetic Ingredient Suppliers

Company Overview: BASF SE (formerly known by its full name ‘Badische Anilin-und-Soda-Fabrik’—Baden Aniline & Soda Factory), founded in 1865, is one of the world’s largest chemical companies—a true industrial empire. In 2008, BASF acquired Swiss specialty chemicals company Ciba, adding cosmetic ingredients as one of its subsidiary business lines. Later that same year, BASF acquired Ciba again (a clarification likely referencing finalized integration), and in 2010 acquired Cognis, thereby completing its cosmetic ingredients portfolio and cementing its status as an industry giant. Its product range is exceptionally comprehensive—covering surfactants (e.g., SLES, APG), oils and fats, emulsifiers, UV filters, active ingredients, and colorants—essentially spanning every major category. Core Technologies: Among its most renowned products are various UV filters, including Tinosorb M and Tinosorb S. The water-light micro-crystal technology featured in Eucerin’s Photogenic Serum also originates from BASF. ・Evonik Industries Company Overview: A German ingredient supplier and L’Oréal’s largest raw material provider. Evonik evolved from Degussa and later rebranded as Evonik. Its product portfolio is likewise extensive—spanning emulsifiers, oils and fats, and active ingredients. Evonik invented betaine and was the world’s first company to achieve mass production of bio-based surfactants. Core Technologies: Evonik’s flagship products include EM90, a silicone-in-water emulsifier widely used in foundations; its ceramide series—especially SK-INFLUX, featured across the entire CeraVe line; and salicyloyl phytosphingosine, an ingredient found in SkinCeuticals’ AGE Interrupter and Lancôme’s Advanced Génifique serum. Like most ingredient suppliers, Evonik’s growth has been driven by continuous acquisitions—its ceramide, botanical extract, and encapsulation businesses were all acquired within the past two decades. In 2023, Evonik announced completion of its acquisition of Novachem, an Argentinian innovator in sustainable cosmetic actives, integrating Novachem’s strengths into Evonik’s systems-solution portfolio. This move signals Evonik’s intensified focus on developing sustainable active cosmetic ingredients. ・Symrise AG Company Overview: Symrise was formed through the merger of Dragoco (founded in 1919) and H&R (founded in 1874), and is one of the world’s leading flavor & fragrance and botanical extract companies—and the world’s fourth-largest flavor & fragrance producer. Its core businesses include cosmetic active ingredients, preservatives, and fragrances. Core Technologies: Its most famous ingredient is SymWhite 377—the only cosmetic ingredient approved by China’s National Medical Products Administration (NMPA) at the time of its launch. Other widely used soothing agents include bisabolol, 4-tert-butylcyclohexanol, and Demulsen. Its preservative-free preservation solution—XinXianTong (p-hydroxyacetophenone)—is classified outside the official preservative list. Meanwhile, Symrise actively adjusts its asset portfolio: in 2023, it announced an increased stake in U.S.-based mineral pigment company Kobo Products Inc., raising its ownership to 49%. This strengthens Symrise’s capabilities in mineral UV filters and color cosmetics ingredients, accelerating its expansion into the color cosmetics sector.

Symrise Expands India Fragrance Ingredient Production Facility

13 hours ago

Symrise announced plans to expand production of its flagship musk ingredient Globalide in India to bolster global supply chains. The investment supports the company's ONE Symrise strategy and aims to meet rising demand for sustainable fragrance solutions in Asia.

ccin

2026-10-21

Symrise Expands India Fragrance Ingredient Production Facility

Symrise Expands India Fragrance Ingredient Production Facility

FAQ