According to a recent report by Fact.MR, the kenaf seed oil market is estimated to continue its bullish run during the 2019-2027 period with global sales poised to surpass 27,000 tons in 2019. The healthy growth of the market can be attributed to the increasing demand for kenaf seed oil in an assortment of industries such as pharmaceutical, lubricants, food and beverages, cosmetics, personal care, and biofuel.
The study finds that end-users are becoming increasingly aware of the growing demand for kenaf fibers and its derivatives in an array of industries such as paper, construction, textile, furniture, and biofuel. The short harvest time of three to five months makes kenaf a potential alternative to hemp, jute, and flax which can fulfill the demand for natural raw-material in industries while overcoming the problem of deforestation. With sustainability gaining traction in different industries, the demand for kenaf is estimated to rise in the foreseeable future. Consequently, governments around the world are promoting the development of a commercial kenaf value chain. The focus on the development of profitable kenaf value chains is expected to aid in the production of kenaf seed required for the production of kenaf seed oil. Additionally, growing awareness about the potential benefits of kenaf seed oil is likely to become a prime focus of the kenaf value chain in the foreseeable future.
The study finds that kenaf seed oil production is also receiving government support in many countries. For instance, Malaysia renamed its National Tobacco Board to National Kenaf and Tobacco Board which has allocated 2000 hectares of land to small farmers for cultivation of Kenaf. Along similar lines, the Nigerian government announced that it would continue to support the production of kenaf as it has the potential to give the economy a substantial boost. The Fact.MR report opines these initiatives will continue to play a vital role in the kenaf seed oil market growth with sales of conventional kenaf seed oil projected to surpass 24,500 tons in 2019 registering a Y-o-Y growth of more than 5.5% through 2018.
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Kenaf Seed Oil Market – Scope of Report:
A latest publication by Fact.MR on the global Kenaf Seed Oil market evaluates the opportunities and current market landscape, and provides detailed analysis and updates about corresponding sections affecting the market.
The study offers detailed insights on key market dynamics, which include the drivers, restraints, trends, and opportunities in the market.
The principal aim of the study is to present exclusive information about how the market will perform during the forecast period of 2022-2032.
Important indicators for the successful growth of the Kenaf Seed Oil market are presented in this comprehensive report, which include Year-on-Year (Y-o-Y) growth analysis of the market, and compounded annual growth rate (CAGR), which are described in an exhaustive way in Fact.MR’s study.
This research study can support readers to know the demand for Kenaf Seed Oil supplements, and the quantitative development opportunities during the study period.
The research is beneficial for shareholders in Kenaf Seed Oil, including investors, manufacturers, service providers, distributors, and suppliers, and can help them in developing suitable business strategies to flourish in the market.
Insights and wisdom presented in this Fact.MR study can be leveraged by shareholders in the market, industry experts, investors, researchers, and reporters, as well as business enthusiasts.
In-depth Analysis on Competitive Landscape:
The report sheds light on leading manufacturers of Kenaf Seed Oil, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in the production of Kenaf Seed Oil has been brought with the help of a detailed dashboard view.
Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.
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Report benefits & key questions answered
- Post covid consumer spending on Kenaf Seed Oil: the report also highlights the change in the buying behavior of consumers and shifts in purchasing power, post covid-19. This information will assist the businesses to plan their production and marketing strategies.
- Kenaf Seed Oil demand outlook: the market intelligence study reports highlights the factor propelling the demand for Kenaf Seed Oil. As per the study, the demand for Kenaf Seed Oil will grow through 2032.
- Kenaf Seed Oil historical volume analysis: Fact.MR survey report provides insights into the sales registered over the last forecast year 2016 to 2020 and create estimates regarding the sales performance for 2022-2032.
- Kenaf Seed Oil consumption by demographics: the report provides consumption by demographics analysis to assist the market players in designing their expansion strategies on the basis of consumption pattern of the customers.
Kenaf Seed Oil Market Segmentations:
- End Use Industry
- Cosmetics & Personal Care
- Lubricants & Coatings
- Functional Food
- North America
- Latin America
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