Global Castor-Oil Plant Market Overview:
Castor oil plant is also known as Ricinus communis is a species of perennial flowering plant in the spurge family, Euphorbiaceae. It is grown commercially for the pharmaceutical and industrial use of its oil and landscaping. It is chiefly cultivated in India, China and Brazil largely as the source of castor oil. It is used for medicinal purposes also. Castor oil is used for the production of fibers, synthetic resins, paints, varnishes and various chemicals including drying oil and plasticizers.
As per latest study released by AMA Research, the Global Castor-Oil Plant market is expected to see growth rate of 2.0%Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Demand for Castor Oil as a Biofuel
Market Growth Drivers:
Various Health Benefits of the Castor-Oil Plant, Demand for Castor Oil for Various Industrial Applications and Rising Prices of Alternative Renewable Chemicals
Challenges:
Availability of Substitute Oil for Castor Oil
Restraints:
High Allergic Potential of the Castor Oil Plant
Opportunities:
Demand for Sebacic Acid Which Is Developed From Castor Oil and Increasing Demand for Castor Oil Worldwide
Competitive Landscape:
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain competitive advantage through combined collaborations
Some of the key players profiled in the report are NK Industries Limited (India), Jayant Agro-Organics Limited (India), Ambuja Solvex Pvt. Ltd. (India), ITOH Oil Chemical (Japan), Adani Wilmar Ltd. (India), RPK Agrotech Exports Pvt. Ltd. (India), Gokul Overseas (India), Kanak Castor Products Private Limited (India), Taj Agro Products (India) and Girnar Industrie (India). Analyst at AMA Research see Indian Vendors to retain maximum share of Global Castor-Oil Plant market by 2028. Considering Market by Grade, the sub-segment i.e. Food Grade will boost the Castor-Oil Plant market.
Latest Market Insights:
Adani Wilmar Ltd (AWL) has paid an unknown sum to McCormick Switzerland GMBH to buy a number of FMCG brands, including the well-known "Kohinoor" brand. Under the Kohinoor brand umbrella, the acquisition would grant AWL exclusive rights over the "Ready to Cook," "Ready to Eat," and meal portfolio under the Kohinoor name in India
Castor oil is now being used more frequently in the production of castor oil derivatives, particularly sebacic acid, which is helping the market in the nation grow
What Can be Explored with the Castor-Oil Plant Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Castor-Oil Plant Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Castor-Oil Plant
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Castor-Oil Plant market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Castor-Oil Plant market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Castor Oil Product Manufacturers, Raw Material Suppliers/ Buyers, Distributors, Government Body & Associations and End-user.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.