As per the exploration of Future Market Bits of knowledge, the market for Lemongrass Oil is expected to extend at a CAGR of 5.6% over the guage time span. As per projections, the business would be worth US$ 72.9 Mn by 2032, up from US$ 42.3 Mn in 2022. Toward the finish of 2021, the Lemongrass Oil Market was esteemed at US$ 40.2 Mn.
The Lemongrass oil is obtained by extraction of the stalks of the Lemongrass (Cymbopogon) herb. Lemongrass shrubs/plant mainly grows in Asia and cannot be available as fresh throughout the year, but now a day’s lemongrass oil and lemongrass extract or dehydrated forms are commonly used.
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Lemongrass oil is useful in prevention of growth of some yeast and bacteria, and has antioxidant/ antibacterial properties and an important vitamin such as vitamin A, B2, B3, B6, B5, B1, folate and vitamin C and also provides essential minerals such as copper, calcium, phosphorous, zinc, manganese, iron and magnesium. Due to all these numerous benefits of lemongrass oil market is in high demand. Lemongrass thrives in tropical and subtropical regions, such as India, Malaysia, Sri Lanka, China, Cambodia, and Guatemala.
Lemongrass Oil Market: Key Trends
The study provides a critical assessment of various key industry trends, market dynamics shaping consumption patterns, factors influencing demand across application areas, and overall competitive dynamics. The study strives to provide a compelling insight into the key investment paths across various end-use applications, as well as the share and magnitude of the various key trends.
The growing demand for lemongrass is fuelled by its therapeutic benefits, such as its antifungal, antiseptic, and anti-inflammatory properties. Growing awareness of the therapeutic benefits of essential oils has fuelled the use of lemongrass for commercial use in the personal care and food industries.
Asian nations have seen a surge in commercial lemongrass production. The increasing use of lemongrass oil in aromatherapy is a major trend driving lemongrass oil production.
The growing popularity of aromatherapy for therapeutic purposes is also improving prospects in the lemongrass market.
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Lemongrass Oil: Segmentation
Lemongrass oil market is segmented on the basis of the application, grade and regions. On the basis of lemongrass oil application market is segmented as pharmaceutical, cosmetics & personal care, and food and beverages. As Lemongrass oil possess high medicinal value and used in various treatments since history market demand in pharmaceutical segment is significantly high. On the basis of lemongrass oil application in cosmetic & personal care products, the product is used in soaps, deodorants, shampoos, conditioner, body lotion, air freshener and tonics.
Its essential vitamin contents as well as skin healing properties are driving lemongrass oil market demand in personal care market segment. Lemongrass oil popularity as fragrance and taste, its demand in food and beverage market segment has grown over the time. It is used in various culinary delights, added to ready-made curries, paired with beef, fish, poultry and seafood’s, it is also used for flavoring tea and soups.
Lemongrass oil market is further segmented on the basis of grades as food grade and therapeutic grade. Food grade is basically for food and beverage purpose and therapeutic grade is for pharmaceutical as well as personal care uses. Lemongrass oil market is later segmented on the basis of regions, as North America North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific excluding Japan, Japan, and Middle East & Africa.
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Lemongrass Oil: Region wise outlook
Latin America and Europe are leading regional markets importing lemongrass oil. However, being origin region of lemongrass oil, Asia Pacific market leading exporter market for lemongrass oil, India and China are major producer markets.
Asia pacific and Europe markets are expected to witness higher growth in forecast period. In Asian countries such as, Thailand, Malaysia, Cambodia, Vietnam and Indonesia, lemongrass oil is a popular ingredient in many culinary delights.
The market demand of lemongrass oil is increasing its popularity in flavoring Asian cooking too. Lemongrass oil is gaining popularity from health conscious consumers from Latin America, which is driving market growth in the region.
Lemongrass Oil: Key players
Some of the key participating players in Lemongrass oil market globally are:
- The Leburmuth Company
- Essential Oils of New Zealand
- Young Living Essential Oils
- doTerra
- Sydella Laboratoire
- West India Spices Inc
- Falcon
- Rajkeerth Aromatics
- Reho natural ingredients etc. among the others.
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Regional analysis for Lemongrass Oil Market includes
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- EU5
- Nordics
- Benelux
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- India
- ASEAN
- Rest of Asia Pacific
- Japan
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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