In the world economic growth, the Castor Oil Industry has also suffered a certain impact, but still maintained a relatively optimistic growth, the past four years, Castor Oil market size to maintain the average annual growth rate of XXX from XXX million $ in 2014 to XXX million $ in 2019, SMI analysts believe that in the next few years, Castor Oil market size will be further expanded, we expect that by 2024, The market size of the Castor Oil will reach XXX million $.
Castor oil is a vegetable oil obtained from castor beans. It finds application in the home and personal care, plastics, lubricants, pharmaceuticals, packaging, paints & coatings, and cosmetics sector. It is also used as a mold inhibitor in food additives and flavorings. Castor oil is often added to products such as shampoo, moisturizer, and lipstick for hydration purposes.
Increasing the production of castor in emerging economies is expected to propel growth of the global castor oil market over the forecast period. For instance, according to the State Agriculture Department, Gujarat, India, in July 2019, land under castor cultivation in Gujarat was 26,509 hectares, an increase by 143% compared to that in 2018. Moreover, the launch of novel castor-oil based personal care products is also expected to aid in the growth of the market. For instance, in April 2020, Fable & Mane, a hair-care brand launched a new product lineup that includes HoliRoots treatment oil, featuring castor oil and ashwagandha.
R&D of castor oil-based polymers is expected to offer lucrative growth opportunities for players in the global castor oil market. For instance, in August 2019, researchers from University of the Witwatersrand, South Africa, reported on the development of polymers such as epoxies, polyamides, and polyesters derived from castor oil, in the Journal of Advanced Manufacturing and Processing. Moreover, the emerging application of castor oil as biolubricants is also expected to aid in growth of the market. For instance, in March 2020, researchers from the University of Extremadura, Spain, reported the use of rapeseed and castor oil methyl esters as catalysts to produce bio-lubricants.
Major players in the market are focused on adopting collaboration and partnership strategies to enhance their market share. For instance, in April 2020, Adani Wilmar partnered with online food aggregator, Swiggy, to home deliver essential food commodities, including edible oils, during lockdown due to COVID-19. In April 2019, Jayant Agro-Organics Limited announced that Pragati, a sustainable castor bean program, in collaboration with Arkema, BASF SE, and Solidaridad, benefited over 2,700 farmers in India for sustainable castor bean production.
Key Takeaways:
- Increasing production of castor in emerging economies is expected to propel growth of the global castor oil market over the forecast period
- Major players operating in the global castor oil market include, N.K. Proteins Pvt Ltd., Jayant Agro-Organics Limited, Ambuja Solvex Pvt. Ltd., Adani Wilmar, RPK Agrotech, Gokul Overseas, Kanak, Adya Oil, Taj Agro Products, Girnar Industries, Bom Brazil, Kisan, Thai Castor Oil, ITOH Oil Chemicals, Tongliao TongHua, Tongliao Weiyu, Tianxing, Kanghui, Huanghe Youzhi, Xingtai Lantian, and Hewei
This Report covers the manufacturers' data, including: shipment, price, revenue, gross profit, interview record, business distribution, etc., these data help the consumer know about the competitors better. This report also covers all the regions and countries of the world, which shows a regional development status, including market size, volume and value, as well as price data.
Besides, the report also covers segment data, including: type segment, industry segment, channel segment, etc. cover different segment market sizes, both volume, and value. It also covers different industries ' client information, which is very important for manufacturers. If you need more information, please contact SMI
Section 1: Definition
Section (2 3): Manufacturer Detail
⤍ NK Proteins
⤍ Jayant Agro Organics
⤍ Ambuja
⤍ Adani Group
⤍ RPK Agrotech
⤍ Gokul Overseas
⤍ Kanak
⤍ Adya Oil
⤍ Taj Agro Products
⤍ Girnar Industries
⤍ Bom Brazil
⤍ Kisan
⤍ Thai Castor Oil
⤍ ITOH Oil Chemicals
⤍ Tongliao TongHua
⤍ Tongliao Weiyu
⤍ Tianxing
⤍ Kanghui
⤍ Huanghe Youzhi
⤍ Xingtai Lantian
⤍ Hewei
Section 4: Region Segmentation
⤍ North America Country (United States, Canada)
⤍ South America
⤍ Asia Country (China, Japan, India, Korea)
⤍ Europe Country (Germany, UK, France, Italy)
⤍ Other Country (Middle East, Africa, GCC)
Section (5 6 7): Segmentation
Product Type Segmentation:
⤍ Food Grade
⤍ Pharmaceutical/cosmetic Grade
⤍ Industry Grade
Industry Segmentation:
⤍ Food Industry
⤍ Pharmaceuticals and Cosmetics Industry
⤍ Industrial
Channel (Direct Sales, Distributor) Segmentation
Section 8: Trend (2019-2024)
Section 9: Product Type Detail
Section 10: Downstream Consumer
Section 11: Cost Structure
Section 12: Conclusion
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