Surging Applications of Castor Oil are Projected to Drive the Growth of the Castor Market.
HYDERABAD, TELANGANA, INDIA, September 30, 2022 /EINPresswire.com/ — IndustryARC, in its latest report, predicts that Castor Market size is estimated to reach $2.9 billion by 2027, growing at a CAGR of 3.7% during the forecast period 2022-2027. Castor is cultivated for its seeds and oil. Castor may be utilized to prepare manure and plant stalks as fuel or as thatching material or for making paper pulp. Castor leaves are fed to silkworms. Commercial cultivation of castor seeds is very profitable owing to its demand in local and international markets. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
Click here to browse the complete report summary :
Key takeaways :
This IndustryARC report on the Castor Market highlights the following areas –
1. Geographically, Asia-Pacific (Castor market share) accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the existence of top producers of castor oil like India in the Asia-Pacific region.
2. Castor Market growth is being driven by the surging application of castor seeds for medicinal and lighting purposes. However, as castor oil is a powerful laxative, its overdose may bring about muscle cramps and this is one of the major factors hampering the growth of the Castor Market.
3. Castor Market Detailed Analysis of the Strengths, Weaknesses and Opportunities of the prominent players operating in the market will be provided in the Castor Market report.
Interested in knowing more relevant information? Click here :
Segmental Analysis :
1. The Castor Market based on type can be further segmented into Castor Seeds and Castor Oil. The Castor Oil Segment held the largest Castor market share in 2021. This growth is owing to the vital commercial value of castor oil principally for the production of soaps, liquid biofuels, lubricants and coatings. The enormous global castor oil production in Gujarat in India and the proliferating application of castor oil for decreasing pigmentation and increasing immunity are further propelling the growth of the Castor Oil segment.
2. The Castor Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America and the Rest of the World. Asia-Pacific (Castor Market) held the largest Castor market share with 35% of the overall market in 2021. The growth of this region is owing to the soaring production of castor seeds in countries like India, China and Thailand in the Asia-Pacific region.
3. The Castor Market based on the application can be further segmented into Food & Beverages, Medical, Lubricant, Soap, Transparent Paper And Printing Inks, Varnishes, Linoleum, Plasticizers and Others. The Castor Oil Production Segment held the largest Castor market share in 2021.
Competitive Landscape :
The top 5 players in the Castor Industry are –
1. Adani Wilmar Ltd.
2. Gokul Refoils and Solvent
3. NK Proteins
4. Kisan Agro
5. Cargill Inc.
Click on the following link to buy the Castor Market Report :
Why Choose IndustryARC?
IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.
Related Reports :
A. Castor Oil And Derivatives Market
B. Bio Polyols Market
Mr. Venkat Reddy
USA: (+1) 970-236-3677, (+1) 815-656-4596
IND: (+91) 40-485-49062