Global Castor Oil Market (by Type, Application & Region): Insights & Forecast with Potential Impact of COVID-19 (2024-2028)

Global Castor Oil Market (by Type, Application & Region): Insights & Forecast with Potential Impact of COVID-19 (2024-2028)

The global castor oil market is forecasted to reach US$1.68 billion in 2028, experiencing growth at a CAGR of 4.29%, during the period spanning from 2024 to 2028. Factors such as growing population, mounting utilization in biodiesel feedstock, rising inclination towards organic and plant-based cosmetic products, accelerating use in pharmaceuticals industry, escalating application of castor oil in various end-use industries and rising awareness about numerous advantages of castor oil as well as its derivatives are likely to drive the market growth. However, the market growth would be challenged by geographically limited production of castor seeds, labor intensive harvesting process of castor crop and unstable prices of castor oil. The market is anticipated to experience certain trends like increasing consumption of bioplastics, rapid adoption of castor oil in food industry and surging demand for lubricants.

The global castor oil market can be segmented on the basis of type and application. On the basis of type, the market can be segmented into hydrogenated castor oil, cold pressed castor oil, Jamaican black castor oil, dehydrated castor oil and others. Whereas, the global castor oil market is categorized into cosmetics & pharmaceuticals, lubricants, surface coatings, biodiesel, plastics & resins and others, based on the applications.

India is the largest exporter of castor oil, exporting mainly to the following countries: China, Netherlands, the U.S., France, Japan and other countries. China, on the other hand, is the largest importer of castor oil, globally, as castor oil is an essential bio-based raw material which makes it ideal for various industrial applications.

Scope of the report:

• The report provides a comprehensive analysis of the global castor oil market segmented on the basis of type, application, exports, imports and region with potential impact of COVID-19.
• The major countries such as India, the U.S., China and Brazil have been analyzed.
• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
• The competitive landscape of the market, along with the company profiles of leading players (Adani Wilmar Limited, Gokul Agro Resources Limited, Jayant Agro-Organics Limited, N K Industries Limited, Liaoyang Huaxing Chemical Co., Ltd., and R.P.K. Agrotech Exports Pvt. Ltd.) are also presented in detail.

Key Target Audience:

• Castor Oil Manufacturers
• Traders, Distributors and Suppliers of Castor Oil
• End Users
• Organizations, Forums and Associations related to Castor Oil
• Government Bodies & Regulating Authorities