The global lemongrass oil market size was valued at USD 38.02 million in 2020. The market is expected to grow from USD 41.98 million in 2021 to USD 81.43 million in 2028, exhibiting a CAGR of 9.93% during the forecast period. Rising knowledge of traditional medicines and the increasing popularity of aromatherapy are expected to fuel the market development. Fortune Business Insights™ presents this information in its report titled “Lemongrass Oil Market, 2021-2028.”

Traditional herb lemongrass oil contains several components, including flavonoids and ketones. It is anticipated that growing public awareness of the advantages of herbal remedies and traditional treatments would encourage oil adoption. Both headaches and skin imperfections disappear with it. Additionally, consumers’ acceptance of aromatherapy is anticipated to increase due to its growing popularity. Additionally, the food and beverage and pharmaceutical industries’ growing usage of it is anticipated to accelerate market growth in the upcoming years.

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COVID-19 Impact

Rising Demand for Immunity Boosting Products to Foster Market Development

Because consumers’ demand for immunity-boosting products is projected to rise during the COVID-19 pandemic, this industry is expected to benefit. The abrupt increase in COVID-19 cases raised public awareness of immunity-boosting drugs. Additionally, it is anticipated that rising expenditure on the consumption of healthful items will support the growth of the sector. Furthermore, it is anticipated that market expansion will be aided by the growing acceptance of smaller capacities, social distancing, and technologically sophisticated production equipment. These elements can promote market growth in the upcoming years.

Segments

Type, Application, and Region are Studied

By type, the market is segmented into blend and pure oil. Based on application, it is classified into pharmaceuticals and medicinal formulations, fragrances, personal care & aromatherapy, food & beverages, and others. Regionally, it is clubbed into Europe, North America, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage

The research offers a thorough overview of the leading market categories and the most recent developments. It goes into great detail on the market effect of COVID-19 as well as the factors that are driving and limiting the industry. It also looks at the regional developments and tactics that the major players in the market have implemented.

Drivers and Restraints

Increasing Affordable Oil Extraction to Foster Market Development

The use of lemongrass oil is anticipated to increase due to the variety of oil extraction techniques and growing oil extraction. Increased spending on the creation of practical extraction techniques is anticipated to boost product uptake. For instance, in order to develop and construct an inexpensive oil distillation unit, students from TU Delft and Amrita University carried out a field survey in Kerala, India, to find locally accessible resources with renewable energy sources. Moreover, it is anticipated that raising knowledge of the product’s health benefits will accelerate its acceptance. The market for lemongrass oil may expand as a result of these causes.

High product costs, however, are anticipated to impede market expansion.

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Regional Insights

Rising Focus on Technological Developments to Foster Market Development in Europe

Because of the growing emphasis on technical advancements, Europe is predicted to hold a dominant market position in the worldwide lemongrass oil market. The market in Europe was valued at USD 15.96 million in 2020, and growth in the upcoming years is anticipated to be substantial. Major players also have well-stocked production facilities and labs with enough personnel to offer a large variety of items to customers. These elements might accelerate industry expansion.

Product adoption is anticipated to increase in North America as a result of expanding consumer demand for natural ingredients as well as beauty and skincare goods. Healthy food and other product acceptance is also a result of changing lifestyles. These elements might boost market growth.

Competitive Landscape

Companies Announce Novel Products to Expand Market Presence

Prominent firms in the industry release new items to increase their market share. To increase revenue generation and broaden its customer base, doTERRA, for instance, stated in January 2021 that it would be expanding its outlets in India. Moreover, it is anticipated that the use of automated production equipment will improve product quality while lowering expenses, labor, and resource usage. In addition, businesses concentrate on formulating partnerships, mergers, acquisitions, and other tactics to increase their market share.

Industry Development

  • June 2021: MOXE, a U.S. brand, launched its new range of shower mists made from essential oils. The convenient spa solution enables consumers to spray the mist on walls to get a relaxing experience.

List of Key Players Profiled in the Report

  • The Lebermuth Company (Indiana, U.S.)
  • doTERRA (Utah, U.S.)
  • Young Living Essential Oils (Utah, U.S.)
  • Aura Cacia (Lowa, U.S.)
  • Edens Garden Inc. (California, U.S.)
  • Mountain Rose Herbs (Oregon, U.S.)
  • NOW Health Group, Inc. (Illinois, U.S.)
  • Phoenix Aromas & Essential Oils LLC (New Jersey, U.S.)
  • Ultra International B.V. (Netherlands, Europe)
  • Plant Therapy Essential Oils (Idaho, U.S.)

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