What is Castor Oil Market Scope?
Castor oil is extracted from castor bean which is considered as the important commercial value primarily for the manufacturing of soaps, lubricants, coatings and others. It is used commercially as a highly renewable resource for the chemical industry. Further, it is a vegetable oil obtained by pressing the seeds of the castor oil plant that is mainly cultivated in Africa, South America, and India. Castor is known as one of the oldest cultivated crops; however, it contributes to only 0.15% of the vegetable oil produced in the world. The oil produced from this yield is considered to be of importance to the global specialty chemical industry since it is the only commercial source of a hydroxylated fatty acid
Rising demand for castor oil in aromatherapy and essential oil
Market Growth Drivers:
Growing demand for renewable and sustainable source, Growing petrochemical prices and The growth of major end-use industries
Rising government stringent rules and regulations related to the environment
Volatile raw material prices and Seasonality factors
Rising technological advancement in the extraction of the castor oil process
The Castor Oil market study is being classified by Type (Cold Pressed Castor Oil, Hydrogenated Castor Oil, Jamaican Black Castor Oil, Dehydrated Castor Oil and Others), by Application and major geographies with country level break-up.
The market is fragmented by key vendors who are focusing on production technologies, improving efficiency and shelf life. Growth opportunities can be captured by tracking the ongoing process improvement and financial flexibility to invest in optimal strategies Analysts at AMA predicts that Vendors from Asia Pacific will contribute to the maximum growth of Global Castor Oil market throughout the predicted period.
Ambuja Solvex Pvt Ltd (India), Arvalli Castor Derivatives Pvt. Ltd (India), Adani Group (India), Hokoku Corporation (Japan), NK Industries Limited (India), Alberdingk Boley (Germany), Kanak Castor Products Pvt., Ltd (India), Jayant Agro Organics (India), Xingtai Lantian (China) and RPK Agrotech (India) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Gokul Overseas (India), Adya Oil (India), Taj Agro Products (India) and Girnar Industries (India).
Analyst at AMA have segmented the market study of Global Castor Oil market by Type, Application and Region.
On the basis of geography, the market of Castor Oil has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Influencers and their Development Strategies
Adani Group will be pouring more resources into acquisitions as it doubles down on its bet on the food staples business. It plans to buy manufacturing facilities in food staples and expand a playbook it followed in the edible oil business, which commands a dominant share of India’s organized market.
National Commodity and Derivatives Exchange (NCDEX) launched trading in the futures contract on Refined Castor Oil on Monday, initially with four monthly expiries from April to July 2022. The exchange already has a successful contract in Castor Seed and the launch of Refined Castor Oil will enhance the castor complex in the futures segment of NCDEX.
Castor oil is classified by Food and Drug Administration (FDA) as generally recognized as safe and effective for use as a stimulant laxative. The Joint Food and Agriculture Organization (FAO)/World Health Organization (WHO) Expert Committee on Food Additives established an acceptable daily castor oil intake (for man) of 0 to 0.7 mg/kg body weight.
Key Target Audience
Castor Oil Industry Investors, Castor Oil Providers/Vendors, Research Professionals, Emerging Companies, Raw Material Suppliers/ Buyers, Product Suppliers/ Buyers, Research Institutes, Original Equipment Manufacturer, Component Supplier, Distributors, Government Body & Associations and End-user
Castor Oil Market Study: Important Years
|Value (USD Million)
|Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility
Major Highlights of Market StudyDemand Determinants:
Identifying top-notch application and business segments that seek high growth potentials in Castor Oil Market.Key Strategic Developments:
To target untapped regions more aggressively by focusing on product/service developments, innovation and R & D, new launches, Merger & acquisitions, JVs & partnerships.Forces & Market Dynamics:
Growth drivers, restraints & opportunities available in Castor Oil industry is examined with reference relevant market sectors and sub-sectors.
Customization available in this Study:
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also includes significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets, To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.