Kenaf Seed Oil Market will Surpass US$ 412,5 Million by 2033 owing to the increasing demand for biofuels.

Fact.MR’s kenaf seed oil market research study digs deep into important findings about key expansion metrics across important sectors during 2023 to 2033. There are details about the key market segments and their growth drivers and trends. This includes information on nature, end-use industries, and regions.

Rockville, April 19th 2023 (GLOBE NEWSWIRE) — The worldwide kenaf seed oil market The company is planning to expand its business from US$ 228 Million In 2023, US$ 412,5 million By 2033. Kenaf seed oil will be sold at a record high by 2033. 6.1% CAGR Between 2023 and 2033.

The use of kenaf oil in cosmetics, functional foods, biofuels and other products is increasing. Global demand is expected to be driven by these factors. Kenaf oil has been widely used as an edible oil over the past few years. Due to its many health benefits and pharmacological properties, it is increasingly being used in functional food.

These include antioxidant, carcinopreventive, and anti-hypercholesterolemic properties. It is due to the presence of bioactive substances such as phytosterols and tocopherols.

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Kenaf seed oil is becoming increasingly popular in the cosmetic & personal care industry due to its nutrient-rich profile and beneficial properties. It contains a high amount of essential fatty acid and antioxidants. This makes it an excellent option for skincare products.

Also, it is a natural emollient. It also has anti-aging effects. It is also used as a thickener to give creams and other lotions the desired consistency.

All of these factors are contributing to the growing demand for kenaf seed oil in the cosmetic & personal care industry.

Kenaf oil is a versatile nutraceutical due to the high concentration of vitamins, minerals and other nutrients. Growing consumer interest for natural products is one of the major factors driving sales of kenaf seeds oil. The kenaf oil industry is expected to grow due to the increasing demand for plant-based alternatives.

A second important factor that is expected to boost the kenaf oil industry is its increasing usage in biofuel production. The rapid shift to biofuels is expected to increase kenaf oil demand in the forecast period of 2023-2033.

The market demand for organic seed oil is expected to remain high. Organically sourced kenaf seeds oil has a number of health benefits and does not compromise on quality. Due to the lack of chemicals, synthetic additives, and other harmful substances in traditional oils, it is considered safe and healthy.

Kenaf seed oil is gaining popularity with health-conscious consumers. The organic segment is expected to grow as consumers become more aware of healthy lifestyle choices.

In Asia Pacific, the demand for oil has risen due to the recent improvements in kenaf seeds oil production and the growing nutraceuticals market.

The market value of kenaf seed oils is projected to grow significantly in the coming years.

Asia Pacific, with its increasing awareness of the health benefits offered by kenaf seeds oil, is likely to remain as the largest consumer of this oil.

What you need to know The cheapest way to buy a car is by using the Kenaf Seed Oil Market:

• Kenaf oil sales are expected to skyrocket at CAGR of 6.1% Over the forecast period

• The demand for organic Kenaf seed oils will continue to grow based on the nature of the product until 2033.

• Global demand for kenaf seeds oil is dominated by biofuels, based on end-use industries.

• In 2022, Asia Pacific accounted for around 65% of the global industry.

• The USA is set to account for the lion’s share in the North America market by 2033.

• Japan and Korea may emerge as major markets for kenaf seeds oil during the period of assessment.

Growth Drivers

• Demand will increase as people become more aware of the health benefits that kenaf oil offers.

• The global production of kenaf oil will increase due to the increasing demand for functional food.

• Kenaf seed oil will likely see a rise in sales due to its increasing use in biofuel production.

• Kenaf oil is gaining popularity in the cosmetics industry.

Restraints:

• The high prices of kenaf seed oil will continue as a barrier to the development of the market.

• Manufacturers of kenaf seed oils may also be limited by a lack of commercialized product or an inefficient refining process.

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Competitive Landscape

Manufacturers and suppliers increase their sales through a variety of strategies. These include partnerships, acquisitions and mergers, agreements and the strengthening of distribution channels. The companies are also using new packaging, and they’re reducing prices.

As an example

• In February 2020Hemp Inc. has signed a US$1,000,000 sales agreement for its DrillWall blend of Kenaf hemp oil. This oil is used for lost circulation fluids in the oil and natural gas drilling sector.

• In March 2022Al Rayes Group collaborated with KVG to expand Kenaf plants.

Fact.MR Profiles Key Companies

• Pepagora

• National Kenaf and Tabacco Board

• Hemp Inc.

• The Department of Agriculture and Fisheries

• Kenaf Ventures

• Gincoc Limited

• Thar Process Inc.

• Advanced Biofuel Center

• Shree Raghvendra Agro Processors

• Parchem Fine & Specialty Chemicals Inc.

• Chempro Technovation Pvt. Ltd.

• Shree Laxminarayan Oils

• Kenaf Development Association of Nigeria

• Kenaf Venture Global

You can get more valuable information on Kenaf Seed Oil Market

Fact.MR’s latest study offers a detailed analysis of the global Kenaf Seed Oil Market for the forecast period 2023-2033. This study also highlights key factors promoting sales of Kenaf Seed Oil through segmentation.

By Nature

By End-use Industry:

By Region

• North America

• Latin America

• Europe

• Asia Pacific

• Middle East & Africa

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The Key Questions Answered by the Kenaf Seed Oil Market Report

• What is the estimated value of the kenaf oil industry by 2023?

• How fast will the global kenaf oil industry grow between now and 2033?

• What factors are limiting the growth of the kenaf seed industry?

• What region will be expected to dominate the global kenaf oil market between 2023 and 2033?

• What are the key factors that will drive the kenaf oil market during the forecast period?

• What is the market value for kenaf oil during the forecast period and what will be the market size?

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