According to IMARC Group’s latest report, titled “Castor Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global castor oil market size 767.4 Kilo Tons in 2021. Looking forward, IMARC Group expects the market to reach 859.1 Kilo Tons by 2027, exhibiting at a CAGR of 2% during 2022-2027.
Castor oil is extracted from the seeds of the castor plant, commonly found in tropical areas of Asia and Africa. It is a versatile oil that is widely used in various industries, including cosmetics, pharmaceuticals, and surface coatings, owing to its excellent lubricating properties and high content of ricinoleic acid. It also possesses several health benefits, such as anti-inflammatory, antimicrobial, and moisturizing properties, making it a popular choice for treating skin issues and digestive problems.
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Castor Oil Market Trends:
The growth of the global castor oil market can be attributed to the increasing product application as a biodiesel feedstock due to its low cost and high energy content. Besides this, the surging product demand for manufacturing cosmetics and pharmaceutical products due to their anti-inflammatory and antimicrobial properties is creating a positive outlook for the market. Moreover, the rising awareness of self-management and preventive healthcare has increased the demand for castor oil-based natural remedies to treat various health problems, such as constipation, arthritis, and skin disorders, which, in turn, is boosting the market growth. As a result, the burgeoning geriatric population and the rising prevalence of chronic diseases are also supporting the market growth. Other factors, such as the increasing product demand to manufacture biodegradable plastics with improved flexibility and durability and the rising focus on reducing carbon emissions, are propelling the market growth.
Castor Oil Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the castor oil market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Adani Wilmar
- Jayant Agro
- Gokul Overseas
- Kandla Agro & Chemicals
Key Market Segmentation:
The report has segmented the global castor oil market on the basis of end-use and region.
Breakup by End-Use:
- Pharmaceuticals
- Lubricants
- Paints
- Soaps
- Others
Breakup by Region:
- China
- Europe
- India
- United States
- Brazil
- Others
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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