The benefits of a chemical peel are pretty straightforward: It will definitely minimize and possibly eliminate some of those unsightly wrinkles around your eyes, forehead and mouth. One thing you need to know going in, though, is that the chemical peel does have its limits. It can help smooth out your skin tone and get rid of some kinds of wrinkles, but it won't help you with the bags under your eyes or severely wrinkled skin. Unfortunately, that's plastic surgery territory. Chemical peels are much more effective at cleaning up those hereditary wrinkles, or the slight wrinkling caused by sun damage and good old fashioned aging. If you have reasonable expectations going in, you're more likely to be satisfied with the result.
Aside from wrinkles, there are some other benefits for some patients. Acne scarring can be somewhat alleviated with the help of a chemical peel. It can also help even out your coloring if you suffer from liver spots, age spots, severe freckling, and other kinds of splotchy skin conditions. Sun damage can also be alleviated with the help of a chemical peel. You're more likely to get a positive result if you have light colored hair and fair skin, but that doesn't mean you won't benefit from a peel if you have darker features.