Lemongrass oil is seemingly one of the most popular essential oils. Popular in tropical countries especially in Asia, lemongrass oil has been extensively used in culinary applications in India, China, and Thailand, such as used as a flavoring agent. Over the course of the period, lemongrass oil became to gather steam for its therapeutic benefits, notably for alleviating digestive problems and reducing body ache and high fever. Its bactericidal properties has also been widely accepted by companies in the lemongrass oil looking for expanding their medicinal products profile.
As the therapeutic benefits of lemongrass became to expand to other regions in Africa, Australia, and Oceania, the lemongrass market became attracting functional foods industry players. Another industry aiming at increasing stakes in the lemongrass oil market is the pharmaceutical industry.
The variety Cymbopogon citratus is usually used for extracting essential oils while Cymbopogon flexuosus is utilized in a wide variety of culinary applications. Over the years, strides made in personal care products, lemongrass oil is used in a wide range of cosmetic applications.
The study offers a critical assessment of the various key industry trends, market dynamics that shape the consumption patterns, factors affecting the demand in various application areas, and the overall competitive dynamics. The research strives to offer a poignant insight into the key investment avenues in various end-use applications, and share and size of the various key trends.
The growing demand for lemongrass is stimulated by its therapeutic benefits such as for anti-fungal, anti-antiseptic, anti-inflammatory properties. Growing awareness of the therapeutic benefits of essential oils has spurred the utilization of lemongrass for commercial use in personal care industry and food industry. Asian nations have seen rise in commercial production of lemongrass. Rise in adoption of lemongrass oil in aromatherapy is a key trend bolstering the production of lemongrass oil. Growing popularity of aromatherapy for therapeutic end is also boosting the prospects in the lemongrass market.
Advances in extraction processes has benefitted both producers and consumers. A wide variety of cosmetic products have come to contain essential oils for their purported benefits and less side effects than synthetic ingredients.
Producers in the lemongrass oil market are seeing resurgence of interest among companies who specialize in plant-based therapeutic grade products. Numerous stakeholders in the past few years have been leaning on integrating the value chain in a bid to make frequent product innovations. They are collaborating from the raw material producers to sellers to gain a large pie in the global lemongrass oil. Further, numerous cosmetics and pharmaceutical companies have been increasing their stakes among essential oil producers. This has also spurred investments in the lemongrass market. In the coming years, they are expected to play a key role in shaping the competitive contours, especially during the forecast period of 2020 – 2030.
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The lemongrass market is expected to see immense revenue streams in Asia Pacific. Asian nations are the worldwide top cultivators. The Asia Pacific lemongrass market is expected to gain momentum from the fast growing body of research and development on essential oils for utilizing them for health benefits. Some of the key countries are Cambodia, India, Indonesia, China, Sri Lanka, Malaysia, and Guatemala. Market players in the region are eyeing colossal opportunities in North America and Europe. These regional markets have witnessed perceptible rise in the demand for essential oils among personal care industries. They are also witnessing new avenues in the Native America.
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