“Global Lemongrass Oil Market to reach a market value of USD 90.8 Million by 2031 growing at a CAGR of 9.2%”
The Global Lemongrass Oil Market size is expected to reach $90.8 million by 2031, rising at a market growth of 9.2% CAGR during the forecast period. In the year 2023, the market attained a volume of 138.02 tonnes experiencing a growth of 21.4% (2020-2023).
There is a significant trend towards health and wellness in North America. Consumers increasingly seek natural and organic products, including essential oils like lemongrass oil, to support their health and well-being. Consequently, the North American region would acquire nearly 30% of the total market share by 2031. Also, the US market would register 35.40 tonnes of pure oil consumption by 2031.
The possible health concerns associated with synthetic chemicals and additives in traditional items are becoming more well-known to consumers. Furthermore, increasing awareness of environmental issues, such as pollution, climate change, and habitat degradation, has led consumers to seek products that are produced sustainably and have a lower environmental impact. Hence, increasing demand for natural and organic products drives the market's growth. Additionally, There's a shift towards holistic approaches to health and well-being, with consumers seeking natural remedies to complement conventional medical treatments. Additionally, essential oils like lemongrass oil are known for their mood-enhancing effects and ability to uplift spirits. In conclusion, rising awareness of aromatherapy is propelling the market's growth.
However, Seasonal changes influence lemongrass cultivation in temperature, rainfall, and daylight hours. The growth and development of lemongrass plants are most favorable during specific seasons, typically warm and wet in tropical and subtropical regions. In addition, seasonal variations in supply can result in price volatility for lemongrass oil products. Thus, seasonal variability in availability is hampering the growth of the market.
Based on type, the lemongrass oil market is divided into pure oil and blend. The blend segment attained 36% revenue share in the lemongrass oil market in 2023. In terms of Volume, the blend segment registered 54.01 tonnes in 2023. Blending lemongrass oil with other essential oils can enhance its benefits. For example, combining it with oils like lavender or eucalyptus can create synergistic effects, improving overall therapeutic outcomes and broadening the range of uses.
By application, the lemongrass oil market is segmented into food & beverages, fragrances, personal care & aromatherapy, pharmaceutical & medicinal formulation, and others. The pharmaceutical & medicinal formulation segment procured 23% revenue share in the lemongrass oil market in 2023. Lemongrass oil has strong antimicrobial and antifungal properties, making it effective against various pathogens. This makes it a valuable ingredient in medicinal formulations to treat infections and prevent microbial growth.
Free Valuable Insights: Global Lemongrass Oil Market size to reach USD 90.8 Million by 2031
Region-wise, the lemongrass oil market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Europe region witnessed the 38% share in the lemongrass oil market in 2023. Europe has a well-developed market for aromatherapy and essential oils. Lemongrass oil is popular in this market due to its pleasant citrus scent and therapeutic properties, including stress relief, pain reduction, and antibacterial effects.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 45.5 Million |
| Market size forecast in 2031 | USD 90.8 Million |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 9.2% from 2024 to 2031 |
| Quantitative Data | Volume in Tonnes, Revenue in USD Million, and CAGR from 2020 to 2031 | Number of Pages | 234 |
| Tables | 510 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Type, Application, Region |
| Country scope |
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| Companies Included | The Lebermuth Co., Ltd., doTERRA International LLC, Young Living Essential Oils LLC, Aura Cacia (Frontier Co-op), Edens Garden Essentials Corporation, Mountain Rose Herbs, Ultra International B.V., Plant Therapy Essential Oils, NOW Health Group, Inc. and Phoenix Aromas & Essential Oils, LLC |
By Type (Volume, Tonnes, USD Million, 2020-2031)
By Application (Volume, Tonnes, USD Million, 2020-2031)
By Geography (Volume, Tonnes, USD Million, 2020-2031)
The Market size is projected to reach USD 90.8 million by 2031.
Increasing demand for natural and organic products are driving the Market in coming years, however,Seasonal variability in availability restraints the growth of the Market.
The Lebermuth Co., Ltd., doTERRA International LLC, Young Living Essential Oils LLC, Aura Cacia (Frontier Co-op), Edens Garden Essentials Corporation, Mountain Rose Herbs, Ultra International B.V., Plant Therapy Essential Oils, NOW Health Group, Inc. and Phoenix Aromas & Essential Oils, LLC
The expected CAGR of this Market is 9.2% from 2023 to 2031.
The Pure Oil segment led the Market by Type in 2023; thereby, achieving a market value of $57.2 Million by 2031.
The Europe region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $33.4 Million by 2031.
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