Lemongrass oil is an essential oil with fresh & citrusy fragrance, extracted from lemongrass herb. It is anti-bacterial, anti-depressant, anti-fungal, antiseptic, anti-pyretic, and astringent. It is commonly used in disinfectant, pain balm, and insect repellent cream. It is used to improve digestion, anxiety, reduces cholesterol level, relieve stress, aids cancer treatment and many more.It is also known as fever grass owing to its ability to bring down a fever. It is used in various culinary delights, paired with beef, fish, poultry and seafood’s, added to ready-made curries as well as used for flavoring tea and soups.
According to study, “Global Lemongrass Essential Oil Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use” the key companies operating in the global lemongrass essential oil market areSky Petro-Chem Pte. Ltd., Shiv Sales Corporation, Showa Pharmaceutical Co., Ltd., Praveen Aroma Pvt Ltd., VEMO 99 Ltd., Organic Herb Inc., Kanta Enterprises Private Limited, Katyani Exports, Il Health And Beauty Natural Oils Co Inc., Imperial Malts Limited, TalyaBitkiselUrunlerTicaretSanayi Limited Sirketi, DBR Exports India, Shanghai SoyoungBiotechnology Inc., Sun Bio Naturals India Private Limited, SNN Natural Products, Sri Venkatesh Aromas, Shaanxi Orient Industrial Co., Ltd., Grenera Nutrients Private Limited, Harry Baba, Enjay Marketing Services Private Limited, Goyum Screw Press, Dran Co. Ltd., Ecuadorian Rainforest, LLC. The key companies are exploring the market by adopting mergers & acquisitions (M&A), investments, expansions, new service launches and collaborations as their preferred strategies. The companies are exploring new geographies through expansions & acquisitions to avail competitive benefit through combined synergies.
Based on type, lemongrass essential oil market is segmented into flower, leaf and mixed part. Based on grade type, market is segmented into therapeutic grade and food grade. Therapeutic grade is used for pharmaceutical as well as personal care uses while food grade is useful for food & beverage purpose. In addition, based on application, market is segmented into research uses, dietic foods, drug formula, cosmetics and others. Cosmetic segment includes shampoos, conditioner, soaps, deodorants, body lotion, air freshener and tonics.
The lemongrass essential oil market is driven by rise in adoption of lemongrass essential oil in aromatherapy, followed by growth in demand from pharmaceutical industry& increase in health benefits and rise in food & beverage industry for culinary dishes. However, high cost of lemongrass oil and side effects of the oil if consumed directly on breastfeeding or pregnant women may impact the market. Moreover, growth in preference for natural medicines among individuals and increase in awareness regarding health benefits provided by lemongrass oil are key opportunities for market.
Based on geography, the Latin-American and European regions hold major share in lemongrass essential oil market owing to change in lifestyle of people and presence of key manufacturers in the regions. Whereas, the Asian-Pacific region is expected to exhibit substantial growth rate due to rise in application in cosmetic & personal care products such as perfumes, soaps, and deodorants over the forecast period. In upcoming years, it is estimated that future of the market will be optimistic as a result of rise in popularity from health conscious consumers during the forecast period.
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Ankur Gupta, Head Marketing & Communications