Global Castor Oil Category - Procurement Market Intelligence Report

This procurement report offers key insights on the best practices for supplier selection and the strategies for category management.

  • Published: Sep 2017
  • Pages: 89
  • SKU: IRCMSTR14585
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Key Features of Report

 

Supply Market Insights
Procurement Best Practices
Cost Saving Opportunities
Pricing Models
Negotiation Strategies
Category Risk Analysis
Key Supplier Analysis
Supplier Capability Matrix

 

Castor Oil - Category Spend Analysis

 

According to analysts at SpendEdge, a key growth driver for the castor oil market is the high growth potential of castor oil in the organic beauty and personal care products market. The growth of the global organic beauty and personal care market is driven by an increase in urbanization in developing economies across APAC (China and India), South America (Brazil), and MEA (the UAE). Furthermore, an expansion in the distribution channels (online and offline) and transition toward premium beauty and personal care products have also added to this growth.

Castor oil and derivatives such as castor wax, zinc ricinolate, and castor oil esters are being used in beauty and personal care products such as soaps, shampoos, creams, perfumes, lip gels, and hair oils among others. Manufacturers of these products are looking to leverage the increase in disposable income through NPD and advertisements to promote the benefits of using castor oil-based beauty and personal care products to end-consumers.

 

Castor Oil - Procurement Best Practices

 

One of the best procurement practices for buyers is to conduct periodic reviews of all products in their portfolio that contain castor oil or its derivatives. A product-level review can be structured to be updated on the information of the use of castor oil by the respective product development teams

For instance, maintaining and updating the supplier details, the quantity of castor oil being used in different products, policies followed on sustainability and frequency of communication (date of the last contact), promptly is important to complete the review process.

Castor Oil - Procurement Challenges

 

According to this procurement market research report, one of the procurement challenges faced by buyers in this market space is the inter-seasonal variation in the price of castor oil. The castor oil supply market has inter-seasonal variation in the price of castor oil due to inconsistent rainfall and climatic conditions across seasons. For instance, any delay in monsoon season in India leads to a lag in cultivation and subsequent harvest of castor beans. This results in rapid fluctuations in the price of castor seed and castor oil in subsequent seasons. In addition, certain small-scale and regional suppliers may hoard castor seeds and oil to keep prices in the high range.

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PART 1: CATEGORY AT A GLANCE

  • TAKEAWAY 01 | Market Overview
  • TAKEAWAY 02 | Demand and Supply Snapshot
  • TAKEAWAY 03 | Key Market Dynamics
  • TAKEAWAY 04 | Supply Market Highlights
  • TAKEAWAY 05 | Pricing Insights
  • TAKEAWAY 06 | Procurement Insights

PART 2:  SCOPE OF THE REPORT

  • Category Definition
  • Research Methodology

PART 3: MARKET INSIGHTS

  • Category Spend Analysis
  • Category Maturity by Regions
  • Demand-Supply Shifts
  • Regional Demand-Supply Snapshot
  • Market Developments
  • Regional Impact of Trends
  • Key Category Growth Drivers and Corresponding Regional Impacts
  • Major Category Growth Constraints and Corresponding Regional Impacts
  • Key Current Technological Innovations
  • Major Regulatory Frameworks
  • Strategic Sustainability Practices
  • Porter’s Five Forces
  • PESTLE Analysis

PART 4: SUPPLY MARKET INSIGHTS

  • Supplier Operational Capability Matrix
  • Other Prominent Suppliers by Region: Operational Capability Matrix
  • Supplier Functional Capability Matrix
  • Other Prominent Suppliers by Region: Functional Capability Matrix
  • Key Clients/Partners
  • Supplier Cost Breakup
  • Supplier Positioning Matrix

PART 5: PRICING INSIGHTS

  • Pricing Models Snapshot
  • Pricing Models – Pros and Cons
  • Indicative Pricing

PART 6: PROCUREMENT INSIGHTS

  • Major Category Requirements
  • Major Procurement Pain Points
  • Category Sourcing Evolution Matrix
  • Procurement Best Practices
  • Cost-saving Opportunities
  • Supplier Selection Criteria
  • Category Negotiation Strategies
  • SLA Terms
  • Supplier Evaluation Criteria
  • Category Risk Analysis

PART 7: TOP FIVE SUPPLIERS

  • Jayant Agro-Organics
  • Adani WilmAr
  • Ambuja Solvex
  • Itoh Oil Chemicals
  • Gokul Refoils & Solvents Limited (GRSL)

PART 8: APPENDIX

  • Glossary
  • Key Notes
  • About Us

Research Framework

SpendEdge presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key category influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary research

  • Procurement heads
  • Category managers
  • Sourcing consortium professionals
  • Industry experts and thought leaders
  • Procurement managers
  • Category heads of suppliers
  • Client account heads/managers
  • Client and industry consultants

Secondary research

  • Industry journals and reports
  • Periodicals and new articles
  • Category webinars
  • Internal categiry playbooks
  • Industry and government websites on regulations and compliance
  • Internal databases
  • Industry blogs/thought leader briefings

DATA ANALYSIS

SpendEdge INSIGHTS

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