The import of essential oils, perfumes, cosmetics, and toiletries to Argentina stood at $590.46 million in 2023. This value has shown fluctuant trends over the decade, with significant decreases in 2014 and minor fluctuations around 2015-2023. From 2018-2023, the sector experienced a steady but slow growth, reflected in a Compound Annual Growth Rate (CAGR) of 2.15% over the last five years. The year-on-year growth variation in 2023 was 2.13%.
Looking to the future, this sector is expected to continue its steady growth. From 2024 onwards, the forecasted data indicates a consistent increase, reaching $654.73 million by 2028, signifying a 5-year CAGR of 1.63% and an overall growth rate of 8.4% during this period.
Future trends to watch for include:
- Potential market saturation or shifts in consumer preferences
- Changes in global supply chains impacting import reliance
- Regulatory changes affecting trade policies