Global Kenaf Seed Oil Market Insights, Forecast to 2019-2025
19-aug-19 The global kenaf seed oil market size is expected to reach USD 257.3 million by 2025, according to a new report., expanding at a CAGR of 6.1% over the forecast period. Presence of various bioactive compounds including tannins, alkaloids, saponins, steroids, essential oils, and fatty acids in kenaf seed oil is expected to promote the product's utility as a functional ingredient in the formulation of biofuels in the near future. Biofuel and lubricants held the largest share in 2018 and are expected to expand at the fastest CAGR of 6.3% in terms of revenue from 2019 to 2025. Biofuels are gaining popularity owing to increasing global warming, which is attributed to the extensive utilization of fossil fuels. According to a report published by the Intergovernmental Panel on Climate Change (IPCC), in October 2018, the average global temperature has increased by 1.5 degree Celsius due to significant increase of carbon dioxide in the atmosphere. Request a Sample Copy of This