Castor Oil Market Size, Share, Trends, Industry Overview, Analysis and Forecast 2023-2028

According to IMARC Group’s latest report, titled “Castor Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, The global castor oil market size reached 780.9 Kilo Tons in 2022. Looking forward, IMARC Group expects the market to reach 870.7 Kilo Tons by 2028, exhibiting a growth rate (CAGR) of 1.93% during 2023-2028.

Castor oil represents a multi-purpose vegetable oil derived from castor beans which are mainly found in the tropical areas of Africa and Asia. It is available in two categories, which include yellow castor oil and black castor oil, and has a translucent texture and a mild odor. These castor oil products have moisturizing, antimicrobial, and anti-inflammatory properties and prove highly beneficial for skin and hair nourishment. They promote wound healing, act as a natural hair growth treatment, prevent constipation problems, etc. Castor oil variants are even incorporated in the manufacturing of decorative paints, lubricants, and surface coating. Consequently, they find extensive applications across numerous sectors, such as pharmaceuticals, personal care & cosmetics, paints, automobile, etc.

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Castor Oil Market Trends:

The growing utilization of the oil as a raw material to produce various products, including biodiesel, machining oils, polyurethane adhesives, refrigeration lubricants, etc., is primarily driving the castor oil market. In addition to this, the escalating usage of food-grade castor oil in the F&B industry in the form of food additives, flavorings, mold inhibitors, packaging, etc., is acting as another significant growth-inducing factor. Apart from this, the elevating product employment in the production of cosmetics, moisturizers, hair oils, soaps, and shampoos is further stimulating the market growth. In line with this, the expanding need for the oil to clean dentures and help reduce the risks of developing denture stomatitis is also positively influencing the global market. Moreover, the rising incorporation of castor oil derivatives to manufacture plastics and resins that are utilized in paints, inks, coatings, and other polymer applications is expected to bolster the castor oil market over the forecasted period.

Castor Oil Market 2023-2028 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the castor oil market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

  • Adani Wilmar
  • Jayant Agro
  • Gokul Overseas
  • Kandla Agro & Chemicals

Key Market Segmentation:

The report has segmented the global castor oil market on the basis of end-use and region.

Breakup by End-Use:

  • Pharmaceuticals
  • Lubricants
  • Paints
  • Soaps
  • Others

Breakup by Region:

  • China
  • Europe
  • India
  • United States
  • Brazil
  • Others

Key Highlights of the Report:

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

Explore TOC & List of Figures:

1   Preface
2   Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1    Overview
    4.2    Key Industry Trends
5   Global Castor Seed Industry
    5.1    Market Overview
    5.2    Market Performance
    5.3    Market Breakup by Region
    5.4    Market Forecast
6   Global Castor Oil Industry
    6.1    Market Overview
    6.2    Market Performance
        6.2.1     Volume Trends
        6.2.2     Value Trends
    6.3    Impact of COVID-19
    6.4    Price Analysis
        6.4.1     Key Price Indicators
        6.4.2     Price Structure
        6.4.3     Price Trends
    6.5    Market Breakup by Region
    6.6    Market Breakup by End Use
    6.7    Market Forecast
    6.8    SWOT Analysis
        6.8.1    Overview
        6.8.2    Strengths
        6.8.3    Weaknesses
        6.8.4    Opportunities
        6.8.5    Threats
    6.9    Value Chain Analysis
    6.10    Porter’s Five Forces Analysis
        6.10.1    Overview
        6.10.2    Bargaining Power of Buyers
        6.10.3    Bargaining Power of Suppliers
        6.10.4    Degree of Competition
        6.10.5    Threat of New Entrants
        6.10.6    Threat of Substitutes
    6.11    Key Market Drivers and Success Factors
7   Performance of Key Region
    7.1    China
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Europe
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    India
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    United States 
        7.4.1 Market Trends
        7.4.2 Market Forecast
    7.5    Brazil
        7.5.1 Market Trends
        7.5.2 Market Forecast
    7.6    Others
        7.6.1 Market Trends
        7.6.2 Market Forecast

8   Market Breakup by End Use
    8.1    Pharmaceuticals
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Lubricants
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Paints
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    Soaps
        8.4.1 Market Trends
        8.4.2 Market Forecast
    8.5    Others
        8.5.1 Market Trends
        8.5.2 Market Forecast

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