The Europe Lemongrass Oil Market would witness market growth of 8.5% CAGR during the forecast period (2024-2031). In the year 2021, the Europe market's volume surged to 37.40 tonnes, showcasing a growth of 20.6% (2020-2023).
The lemongrass oil market is significantly driven by its diverse applications in fragrance, personal care, and aromatherapy, each offering unique uses and advantages that align with current market trends. In the fragrance industry, lemongrass oil is prized for its fresh, citrusy scent that provides a clean and invigorating aroma, commonly used in perfumes, deodorants, and household cleaning products. Consequently, the Germany market would consume 6.29 tonnes of this oil in fragrance, personal care, and aromatherapy applications in 2023.
The Germany market dominated the Europe Lemongrass Oil Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $7,627.2 Thousands by 2031. The UK market is exhibiting a CAGR of 7.6% during (2024 - 2031). Additionally, The France market would experience a CAGR of 9.4% during (2024 - 2031).
Lemongrass oil is a natural flavoring agent in the food and beverage industry. It imparts a lemony, citrus-like flavor to culinary dishes, beverages, and desserts. It is commonly used in teas, soups, curries, sauces, marinades, and confectionery products. The growth of the food and beverage industry is driving the growth of lemongrass oil as a natural additive.
Adopting lemongrass oil has seen significant growth across various industries and consumer segments, driven by its versatile applications, beneficial properties, and increasing consumer awareness of natural alternatives. Ongoing research focuses on optimizing extraction methods, improving oil purity, and exploring new applications in biotechnology and pharmaceuticals.
With the expansion of the pharmaceutical industry in Belgium, there is a growing trend towards incorporating natural ingredients in medicinal formulations. According to the International Trade Administration data, Belgium’s industry spends $1.64 billion (€1.5 billion) on R&D annually, equivalent to 40 percent of all private investment made in Belgium. Also, European consumers increasingly favor natural and organic products over synthetic ones. As per the Ministry of Foreign Affairs, in 2020, the European cosmetics industry had a total retail value of €76.7 billion. Within this industry, fragrance sales were €10.5 billion. Therefore, the rising pharmaceutical industry and increasing demand for fragrance are propelling the market's growth.
Free Valuable Insights: The Global Lemongrass Oil Market will Hit USD 90.8 Million by 2031, at a CAGR of 9.2%
Based on Type, the market is segmented into Pure Oil, and Blend. Based on Application, the market is segmented into Fragrances, Personal Care & Aromatherapy, Food & Beverages, Pharmaceuticals & Medicinal Formulations, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Type (Volume, Tonnes, USD Million, 2020-2031)
By Application (Volume, Tonnes, USD Million, 2020-2031)
By Country (Volume, Tonnes, USD Million, 2020-2031)
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