On the basis of end uses, the global castor oil market can be divided into pharmaceuticals, lubricants, paints, and soaps, among others. The major regional markets for the product are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
How will the castor oil market grow in 2024-2032?
The market is projected to grow at a CAGR of 3.4% in the forecast period of 2024-2032. India is ranked the highest producer of castor oil seeds, amounting to 1,618,760 tonnes and covering 85% of the global production in 2022. The global total castor oil seed production in 2022 reached 1,829,522 tonnes, a reduction of 1.78% since 2021.
What are the main industries in Lesotho?
The sector is dominated by the textiles and apparel industries. According to the Ministry of Labor Inspectorate and Better Work Lesotho, Lesotho¡¯s formal manufacturing sector is free from child labor. Some employers violate national and international basic worker rights, and mainly the right for workers to join unions.
Should US companies invest in Lesotho?
Beyond the U.S. market, Lesotho¡¯s products enjoy duty free access to SACU and SADC countries, with a total population of 277 million. U.S. companies could capitalize on this opportunity by setting up manufacturing operations in Lesotho to produce for these regional markets.