Market Overview:
Castor bean is a vegetable oilseed crop that is used for the production of castor oil. Castor oil has various applications in different industries such as food, pharmaceuticals, cosmetics, and others. The global castor bean market was valued at US$ XX Mn in 2017 and is projected to grow at a CAGR of XX% during the forecast period 2018-2030. The global castor bean market by type is segmented into food grade, pharmaceutical/cosmetic grade, industrial or technical grade. The food grade segment accounted for the majority share of the global castor bean market in 2017 and is projected to grow at a CAGR of XX% during the forecast period 2018-2030. This can be attributed to its increasing demand from various end-use industries such as food additives, flavorings, and mold inhibitors among others. The global castor bean market by application is segmented into food additives, flavorings,, mold inhibitors among others.
Product Definition:
Castor Bean is a plant that produces castor oil. Castor oil is used to make biodiesel, cosmetics, and other products.
Food Grade:
Food grade castor oil is that obtained from the seeds of Ricinus communis plant, which is processed to remove any impurities present in it. Food grade castor oil finds its application in various food products such as bakery, confectionery & chocolate, dairy products and sauces & dressing. It also has a wide range of applications in pharmaceutical industry for manufacturing ointments and tablets owing to its high medicinal value.
Pharmaceutical/Cosmetic Grade:
Pharmaceutical grade is used for the processing of drugs and other pharma-related products. It is also known as fine or pure grade. The cosmetic industry has been growing rapidly over the past few years owing to increased consumer demand for natural and organic cosmetics, which has led to high quality being a crucial factor in pharmaceutical manufacturing.
Application Insights:
The market is segmented by application into food additives, flavorings, mold inhibitor and pharmaceutical/cosmetic. The food additives segment dominated the global castor bean market in 2017 owing to increasing demand for various products such as emulsifiers, wetting agents and texturizers from several industries including dairy & frozen foods. Flavorings are also expected to witness significant growth over the forecast period due to rising consumer preference for natural flavors.
Castor oil has a high content of ricinoleic acid which makes it an ideal ingredient in cosmetics as an agent that helps prevent hair fall and promote hair growth. It is also used as a skin conditioning agent and sun protection factor which augments its demand in cosmetic formulations across the globe.
Regional Analysis:
North America dominated the global castor bean market in 2017. The region is expected to witness a growth rate of 5.8% over the forecast period, owing to increasing demand for plant-based ingredients from various application industries in countries such as U.S., Canada, and Mexico.
Asia Pacific is projected to be one of the fastest-growing regional markets during the forecast period on account of rapid industrialization coupled with expanding end-use industries such as cosmetics.
Europe accounted for approximately 23% share of total volume consumed globally due to growing consumer awareness regarding health benefits associated with castor oil seeds which include antiaging properties.
Growth Factors:
- Castor Bean is a high-value crop that can be used for various applications such as biodiesel, lubricants, and plastics. This will drive the demand for castor beans in the market.
- Castor Bean is a drought tolerant crop and can be grown in areas with low rainfall. This will increase the production of castor beans in these regions and drive the growth of the market.
- The increasing awareness about the benefits of castor bean among consumers will lead to an increase in its demand, which will fuel the growth of this market.
Scope Of The Report
Report Attributes
Report Details
Report Title
Castor Bean Market Research Report
By Type
Food Grade, Pharmaceutical/Cosmetic Grade, Industril or Technical Grade
By Application
Food Additives, Flavorings, Mold Inhibitor
By Companies
Jayant Agro Organics, PRIME GLOBAL CAPITAL GROUP, NK Proteins, Ambuja, Adani Group, RPK Agrotech, Gokul Overseas, Kanak, Adya Oil
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
187
Number of Tables & Figures
131
Customization Available
Yes, the report can be customized as per your need.
Global Castor Bean Market Report Segments:
The global Castor Bean market is segmented on the basis of:
Types
Food Grade, Pharmaceutical/Cosmetic Grade, Industril or Technical Grade
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Food Additives, Flavorings, Mold Inhibitor
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Jayant Agro Organics
- PRIME GLOBAL CAPITAL GROUP
- NK Proteins
- Ambuja
- Adani Group
- RPK Agrotech
- Gokul Overseas
- Kanak
- Adya Oil
Highlights of The Castor Bean Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Food Grade
- Pharmaceutical/Cosmetic Grade
- Industril or Technical Grade
- By Application:
- Food Additives
- Flavorings
- Mold Inhibitor
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Castor Bean Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Castor beans are a type of bean that is used as a source of oil. The beans are dried and then ground into a powder. This powder is then used to produce castor oil.
Some of the key players operating in the castor bean market are Jayant Agro Organics, PRIME GLOBAL CAPITAL GROUP, NK Proteins, Ambuja, Adani Group, RPK Agrotech, Gokul Overseas, Kanak, Adya Oil.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Castor Bean Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Castor Bean Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Castor Bean Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Castor Bean Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Castor Bean Market Size & Forecast, 2020-2028
4.5.1 Castor Bean Market Size and Y-o-Y Growth
4.5.2 Castor Bean Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Food Grade
5.2.2 Pharmaceutical/Cosmetic Grade
5.2.3 Industril or Technical Grade
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Food Additives
6.2.2 Flavorings
6.2.3 Mold Inhibitor
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Castor Bean Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Castor Bean Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Food Grade
9.6.2 Pharmaceutical/Cosmetic Grade
9.6.3 Industril or Technical Grade
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Food Additives
9.10.2 Flavorings
9.10.3 Mold Inhibitor
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Food Grade
10.6.2 Pharmaceutical/Cosmetic Grade
10.6.3 Industril or Technical Grade
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Food Additives
10.10.2 Flavorings
10.10.3 Mold Inhibitor
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Food Grade
11.6.2 Pharmaceutical/Cosmetic Grade
11.6.3 Industril or Technical Grade
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Food Additives
11.10.2 Flavorings
11.10.3 Mold Inhibitor
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Food Grade
12.6.2 Pharmaceutical/Cosmetic Grade
12.6.3 Industril or Technical Grade
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Food Additives
12.10.2 Flavorings
12.10.3 Mold Inhibitor
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Food Grade
13.6.2 Pharmaceutical/Cosmetic Grade
13.6.3 Industril or Technical Grade
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Food Additives
13.10.2 Flavorings
13.10.3 Mold Inhibitor
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Castor Bean Market: Competitive Dashboard
14.2 Global Castor Bean Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Jayant Agro Organics
14.3.2 PRIME GLOBAL CAPITAL GROUP
14.3.3 NK Proteins
14.3.4 Ambuja
14.3.5 Adani Group
14.3.6 RPK Agrotech
14.3.7 Gokul Overseas
14.3.8 Kanak
14.3.9 Adya Oil
