Castor oil is a pale yellow vegetable oil that is extracted from castor seeds. Castor oil is mainly used in preservative, medicine, lubrication etc.
Asia Pacific is the largest consumer of castor oil and is expected to retain the higher growth rate during the next few years due to strong growth in pharmaceuticals and cosmetics industry. China and India have witnessed a major chunk of the production and consumption of castor oil in the Asia Pacific region.
The castor oil market in Europe is growing on the back of rising demand of bio based cosmetic production, whereas the demand for castor oil in North America is driven by the strong consumption of biodiesel.
The worldwide market for Castor Oil is expected to grow at a CAGR of roughly 4.1% over the next five years, will reach 1500 million US$ in 2023, from 1180 million US$ in 2017.
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.
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.
Doctor Rogers Restore contains only three ingredients — plant-derived glycerin, castor seed oil, and castor wax. Glycerin is a common humectant, and castor seed oil is an emollient that also supposedly decreases inflammation. The wax helps give it that thick, gooey, Vaseline-like texture.
The balm feels softer than Vaseline and stiffer than Aquaphor. It is sold in two different sizes – a bigger one costing $80 and smaller one $30. It is also sold in tube which costs $30.
A New Jersey-based cosmetologist is promoting healthy living with her skincare awareness. NBI All Natural is a one-stop shop for all skin and hair needs.
All of NBI’s products are non-sulfate and cruelty-free. And they share one unique ingredient — Jamaican black castor oil, a multi-use oil for hair and skin.
The line features 22 unisex products, from body scrubs, to lotions, balms, lip care, to hair oils and other products.
Following its promotions of Jamaican cosmetics in London, the Jamaica Promotions Corporation (JAMPRO) will lead a trade mission to the Bronner Brothers International Beauty Show in Atlanta, Georgia between August 19 and 21.
Eight Companies will be part of the delegation to the event, which hosts over 30,000 beauty professionals yearly who explore the newest and most exciting beauty trends and products.
Six of the companies will be focusing on the promotion of Jamaican Black Castor oil products, as JAMPRO strengthens its strategy to develop the castor oil sector. The Jamaica Manufacturers Association (JMA) will also join the mission to support the companies.
A Jamaican castor oil producer has stated that the industry needs assistance from the Government if it is to capture its fair share of the fast-growing and lucrative trade that is expected to grow to over US$2 billion in another seven years.
According to the producer, who has been in castor production for the past two years, some form of mechanisation is necessary to help castor oil producers increase production.
The Jamaican Castor Oil Industry is working with Jampro to tap into the growing market for Jamaican black castor oil and commercial grade castor oil which has a prospective value for US$ 100 milion or more.
Recently, the two entities organised a workshop focused on mechanised processes for castor oil, meant to position processors to reliably supply foreign markets.
Castor oil has been in use since long and still finds increasing applications in various industries. The prominent applications of castor oil include cosmetics, soaps, textiles, medicines and more. It has anti-bacterial, anti-fungal, and moisturizing properties. It can be used orally as well as topically.
Here are some interesting benefits of castor oil:
- Castor oil is best for skin. It speeds up the healing process and leaves the skin soft and delicate.
- It helps diminishing puffiness and tiredness from eyes.
- It is the best remedy for split ends in the hair.
- It can treat joint pain, knee pain and also other pain caused by inflammation.
Oils have played an essential role in many women’s beauty regimes. Castor oil is one among them and the most overlooked. The main benefit of castor oil is the stimulation and promotion of hair growth and has become the main ingredient for luscious eye lashes.
Here are some key beauty benefits of castor oil:
- When applied in scalp, fatty acids in castor oil can penetrate hair follicles and moisturise deep into the scalp, preventing flaking skin.
- The ricinoleic acid and omega 6 present in the oil are great for hair growth and promote circulation. Applying castor oil in eyelashes and eyebrows can make them grow thicker.
- Help repair spots and scars due to anti-inflammatory properties of the oil.
With increasing demand for castor oil and its related products, Jamaican stakeholders are planning to venture into this exciting industry which is expected to grow to over US$ 2 billion in the next seven years.
According to Jamaica Castor Industry Association (JCIA) while the association has only been formally registered since January 2017 it has been working since last year to sensitise stakeholders in the castor industry and recruit members.
Jamaica has also recently started a project “Grow Castor Bean”. The goal of the project is to provide a consistent supply of castor oil to markets locally and internationally.