In 2023, the market size value for essential oils of peppermint in Chile was approximately 1.7988 million US dollars. Over the past decade, the market has experienced fluctuations, with significant downturns in 2016 and 2020 and recovery in subsequent years. Over the last two years, year-on-year growth was relatively stable at 5.45% in 2022 and a slight 0.17% in 2023. The 5-year compound annual growth rate indicated a slight decline at -0.4%.
Future trends to watch for include increasing consumer interest in natural and organic products, which might boost demand for essential oils. Additionally, exploring new applications and advancements in extraction technology could further expand market potential.
