The Lemongrass Oil Market is Predict to reach USD 90.8 Million by 2031, at a CAGR of 9.2%

05-Jul-2024 | Report Format: Electronic (PDF)

Lemongrass Oil Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, 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).

Lemongrass oil is an essential oil derived from the leaves or grass of the lemongrass plant (Cymbopogon citratus or Cymbopogon flexuosus). It is known for its distinct citrusy, lemon-like aroma and is widely used in various industries and applications due to its therapeutic properties and pleasant fragrance. Lemongrass oil finds diverse applications across several industries due to its unique aroma and beneficial properties. Lemongrass oil is widely used in aromatherapy for its refreshing and uplifting citrusy scent, which promotes relaxation, reduces stress, and alleviates anxiety. It is commonly diffused in homes, spas, and wellness centers to create a calming atmosphere and improve mood.

Lemongrass Oil Market Size - By Region

The Pure Oil segment led the Global Lemongrass Oil Market by Type in 2023; thereby, achieving a market value of $57.2 Million by 2031. Pure lemongrass oil contains a high concentration of active compounds, such as citral, responsible for their therapeutic properties. Consumers and manufacturers prefer pure oil for its efficacy in various applications, including aromatherapy, medicinal uses, and personal care.

The Fragrances, Personal Care & Aromatherapy segment is growing at a CAGR of 8.7 % during the forecast period. Lemongrass oil has natural antimicrobial properties, making it effective in personal care products like soaps, shampoos, and deodorants. Its pleasant aroma is enhanced with practical benefits as it aids in skin purification and cleansing.

Full Report: https://www.kbvresearch.com/lemongrass-oil-market/

The Europe region dominated the Global Lemongrass Oil 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. The North America region is anticipated to grow at a CAGR of 8.8% during (2024 - 2031). Additionally, The Asia Pacific region would witness a CAGR of 10.1% during (2024 - 2031).