The essential oils of lemon market in Guyana has experienced a gradual decline from 2013 to 2023, where it stood at 11.61 thousand US dollars. Over the past decade, the market has seen a consistent year-on-year decrease, notably -1.64% in 2023. The compound annual growth rate (CAGR) for the last 5 years indicates an average annual reduction of -1.62%. These consistent declines suggest a diminishing market presence in the region.
Future trends to watch for include potential shifts in consumer preferences towards natural and organic products, which may stabilize or reverse the declining trend, alongside possible governmental policies promoting local production or international trade dynamics affecting supply and demand.
