The UK market for essential oils of mints (except peppermints) exhibited a declining trend in value per capita from 2013 to 2023. The market saw a steady decrease, beginning at $1.3 per capita in 2013 and ending at $0.99 in 2023. The year-on-year variation from 2021 to 2023 shows a continued decrease at a rate of approximately 2% to 3% per year. Over the last five years, from 2018 to 2023, the compound annual growth rate (CAGR) indicates an average annual decline of around 1.7%.
Future trends to watch for include:
- Potential product diversification to spur demand growth.
- Rising consumer interest in natural and wellness products, possibly reversing the declining trend.
- Impact of regulatory changes on market dynamics.
