| Product Code: ETC5003765 | Publication Date: Nov 2023 | Updated Date: Oct 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Sachin Kumar Rai | No. of Pages: 60 | No. of Figures: 30 | No. of Tables: 5 | 
In 2024, Grenada continued to rely heavily on imports of Kenaf seed oil, with the USA, Trinidad and Tobago, Canada, Italy, and the UK being the top exporting countries. The market shows a concerning trend with a high Herfindahl-Hirschman Index (HHI), indicating a very concentrated market. The compound annual growth rate (CAGR) from 2020 to 2024 was at a significant decline of -23.9%, with a staggering growth rate drop of -72.15% from 2023 to 2024. This suggests challenges and disruptions within the Kenaf seed oil import market, urging stakeholders to closely monitor and strategize for future sustainability.
The kenaf seed oil market in Grenada is expanding as the demand for natural and plant-based oils in cosmetics, personal care, and industrial applications increases. Kenaf seed oil, derived from the seeds of the kenaf plant, is rich in essential fatty acids and antioxidants. It is used in skincare products, hair care formulations, and as a lubricant in industrial applications. As consumer preferences shift toward sustainable and plant-based products, the demand for kenaf seed oil in Grenada is expected to rise. The market is also benefiting from the increasing popularity of natural and organic beauty products.
The Kenaf Seed Oil market in Grenada is driven by the growing recognition of kenaf as a sustainable source of natural oil. Kenaf seed oil is gaining popularity due to its potential health benefits, including its high levels of essential fatty acids and antioxidants. The oil is used in cosmetics, personal care products, and food, and is increasingly seen as an eco-friendly alternative to other vegetable oils. As demand for organic and plant-based products rises, the kenaf seed oil market in Grenada is expected to experience continued growth, especially in the beauty and wellness sectors.
The Grenada Kenaf Seed Oil market struggles with low consumer awareness and limited applications beyond niche health and cosmetic products. The production of kenaf seed oil is not widespread, leading to high costs and limited availability. Furthermore, competition from well-established oils, such as coconut and olive oil, makes market entry and expansion difficult. There is also a need for greater research and development to expand the potential uses of kenaf seed oil in industrial applications.
Grenada promotes diversification in agriculture, which benefits niche products like kenaf seed oil. Policies encouraging research into non-traditional crops and supporting organic farming practices create favorable conditions for market growth. Export incentives for specialty agricultural products further support kenaf seed oil producers.
| 1 Executive Summary | 
| 2 Introduction | 
| 2.1 Key Highlights of the Report | 
| 2.2 Report Description | 
| 2.3 Market Scope & Segmentation | 
| 2.4 Research Methodology | 
| 2.5 Assumptions | 
| 3 Grenada Kenaf Seed Oil Market Overview | 
| 3.1 Grenada Country Macro Economic Indicators | 
| 3.2 Grenada Kenaf Seed Oil Market Revenues & Volume, 2021 & 2031F | 
| 3.3 Grenada Kenaf Seed Oil Market - Industry Life Cycle | 
| 3.4 Grenada Kenaf Seed Oil Market - Porter's Five Forces | 
| 3.5 Grenada Kenaf Seed Oil Market Revenues & Volume Share, By Application, 2021 & 2031F | 
| 4 Grenada Kenaf Seed Oil Market Dynamics | 
| 4.1 Impact Analysis | 
| 4.2 Market Drivers | 
| 4.3 Market Restraints | 
| 5 Grenada Kenaf Seed Oil Market Trends | 
| 6 Grenada Kenaf Seed Oil Market Segmentations | 
| 6.1 Grenada Kenaf Seed Oil Market, By Application | 
| 6.1.1 Overview and Analysis | 
| 6.1.2 Grenada Kenaf Seed Oil Market Revenues & Volume, By Cosmetics & Personal Care, 2021-2031F | 
| 6.1.3 Grenada Kenaf Seed Oil Market Revenues & Volume, By Biofuel & Lubricants, 2021-2031F | 
| 6.1.4 Grenada Kenaf Seed Oil Market Revenues & Volume, By Others, 2021-2031F | 
| 7 Grenada Kenaf Seed Oil Market Import-Export Trade Statistics | 
| 7.1 Grenada Kenaf Seed Oil Market Export to Major Countries | 
| 7.2 Grenada Kenaf Seed Oil Market Imports from Major Countries | 
| 8 Grenada Kenaf Seed Oil Market Key Performance Indicators | 
| 9 Grenada Kenaf Seed Oil Market - Opportunity Assessment | 
| 9.1 Grenada Kenaf Seed Oil Market Opportunity Assessment, By Application, 2021 & 2031F | 
| 10 Grenada Kenaf Seed Oil Market - Competitive Landscape | 
| 10.1 Grenada Kenaf Seed Oil Market Revenue Share, By Companies, 2024 | 
| 10.2 Grenada Kenaf Seed Oil Market Competitive Benchmarking, By Operating and Technical Parameters | 
| 11 Company Profiles | 
| 12 Recommendations | 13 Disclaimer |