Future Market Insights’ analysis projects that over the upcoming years, the lemongrass oil market will grow at a CAGR of 5.6%. The industry’s estimated value would increase from USD 42.3 Million in 2022 to USD 72.9 Million by 2032. The market for lemongrass oil was worth USD 40.2 million at the end of 2021.
The oil for making lemongrass flavor is extracted from the stalks of the herb lemongrass (Cymbopogon). Although fresh lemongrass cannot always be found because it is mostly farmed in Asia, dried or extracted forms of the herb are increasingly commonly utilized.
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In addition to having antibacterial and antioxidant characteristics, lemongrass oil also contains vitamins A, B2, B3, B6, B5, B1, folate, and vitamin C. Additionally, it contains crucial minerals including magnesium, calcium, zinc, manganese, copper, and phosphorus. Some yeast and bacteria can be stopped from growing by using lemongrass oil. All of these various benefits have led to a huge increase in the demand for lemongrass oil. Lemongrass grows abundantly in tropical and subtropical regions including India, Malaysia, Sri Lanka, China, Cambodia, and Guatemala.
Lemongrass Oil Market: Key Trends
The study offers a critical assessment of a number of important market characteristics, consumption patterns, application-specific demand drivers, and competitive dynamics. The study aims to give readers a compelling understanding of the main investment strategies across a range of end-use applications, as well as the prevalence and significance of the many significant trends.
Lemongrass’s therapeutic advantages, such as its antifungal, antimicrobial, and anti-inflammatory capabilities, are what are driving up demand. The usage of lemongrass for commercial purposes in the personal care and food industries has been stimulated by growing understanding of the medicinal effects of essential oils.
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.
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.
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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Lemongrass Oil Market by Category
By Application, Lemongrass Oil is segmented as:
- Food and Beverages
- Pharmaceutical
- Cosmetics and Personal Care
By Grade, Lemongrass Oil is segmented as:
- Therapeutic Grade
- Food Grade
By Region, Lemongrass Oil is segmented as:
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia Pacific Excluding Japan
- Japan
- Middle East and Africa(MEA)
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