Average Castor Seed Prices – Dec 2017 – (US $702/MT); Average Castor Oil Prices – Dec 2017 – (US $1484/MT); Average Castor Meal Prices – Dec 2017 – (US $72/MT)

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Rising Demand for Castor Oil & Derivatives in Cosmetic and Pharmaceutical Industries Driving the Growth of Global Castor Oil & Derivatives Market

Posted on December 14, 2017 by Gayathri

Global castor oil & derivatives market is expected to grow at noteworthy CAGR over the forecast period to reach at notable revenue of USD 2.0 Billion by the end of 2021. The market is expected to expand on the back of a number of factors such as easy availability of castor seeds and growing demand for bio-degradable products. Furthermore, growing demand for castor oil for bio-diesel production is predicted to escalate the growth of global castor oil market in upcoming years. Additionally, India & Brazil are the major producers of castor oil.castor-oil-800067

The cosmetics and pharmaceutical industry segments by end user are likely to grow at 5.0% during the forecast period. Growing use of castor oil in preparation of soap and hair oil is a key factor which is estimated to spur the growth of these segments in upcoming years. Additionally, incredible health benefits of castor oil are major factors which are increasing the demand for castor oil and its derivatives in pharmaceutical industries.

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This entry was posted in Castor Oil - Market, castor oil derivatives, market and tagged castor market, castor oil, castor oil derivatives by Gayathri. Bookmark the permalink.

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