In 2023, the Canadian market for essential oils of mints (excluding peppermints) reached a value of $12.149 million USD, reflecting a modest growth of 2.03% from the previous year. Over the last five years, the compound annual growth rate (CAGR) was 1.6%, indicating a relatively stable yet slow increase. Key fluctuations include a decline in 2020, followed by a recovery and growth spurred in 2021 and 2022.
Future trends to watch for:
- Increasing consumer interest in natural and green products could drive demand.
- Expanding applications in aromatherapy and personal care to stimulate growth.
- Potential market volatility due to agricultural and supply chain disruptions.
