Global Ricinoleic Acid Market Size To Exceed USD 3.67 Billion By 2033: Industry Analysis Report

Global Ricinoleic Acid Market Size To Exceed USD 3.67 Billion By 2033

According to a research report published by Spherical Insights & Consulting, The Global Ricinoleic Acid Market Size is Expected to Grow from USD 1.94 Billion in 2023 to USD 3.67 Billion by 2033, at a CAGR of 6.58% during the forecast period 2023-2033.                             

Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Ricinoleic Acid Market Size, Share, and COVID-19 Impact Analysis, By Source (Castor Oil and Synthetic Esterification), By Application (Cosmetics & Personal Care, Pharmaceuticals, Plastics & Coatings, Lubricants & Greases, and Other), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.    

The global ricinoleic acid Market refers to the industry focused on the production, distribution, and application of ricinoleic acid, a monounsaturated, 18-carbon fatty acid primarily derived from castor oil. Known for its unique chemical structure and functional properties, ricinoleic acid is used in a wide range of industrial, pharmaceutical, and personal care applications. Moreover, the global ricinoleic acid market is driven by rising demand for bio-based and sustainable chemicals, increasing use in personal care and pharmaceutical products, and growing applications in industrial lubricants and plasticizers. Its natural origin, non-toxic nature, and versatile chemical properties further boost its adoption across various industries. However, the ricinoleic acid market faces restraints such as limited availability of castor oil, price volatility, and dependence on seasonal agriculture. Additionally, synthetic substitutes and regulatory challenges may hinder market expansion.

The powder type segment accounted for the largest share of the global ricinoleic acid market in 2023 and is anticipated to grow at a significant CAGR during the forecast period.

Based on the source, the global ricinoleic acid market is divided into castor oil and synthetic esterification. Among these, the powder type segment accounted for the largest share of the global ricinoleic acid market in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The primary natural source of ricinoleic acid, castor oil, is favored for its high yield, renewability, and eco-friendly profile. Its widespread availability and cost-effectiveness make it the dominant choice across industrial, pharmaceutical, and cosmetic applications.  

The healthcare products segment accounted for a substantial share of the global ricinoleic Acid market in 2023 and is anticipated to grow at a rapid pace during the projected period.

On the basis of the application, the global ricinoleic acid market is divided into cosmetics & personal care, pharmaceuticals, plastics & coatings, lubricants & greases, and others. Among these, the healthcare products segment accounted for a substantial share of the global ricinoleic acid market in 2023 and is anticipated to grow rapidly during the projected period. This is due to its excellent moisturizing, anti-inflammatory, and skin-conditioning properties, ricinoleic acid is widely used in formulations like creams, lotions, soaps, and shampoos, driving strong demand in the beauty and personal care industry.

Asia Pacific is projected to hold the largest share of the global ricinoleic acid market over the projected period. 

Asia Pacific is projected to hold the largest share of the global ricinoleic acid market over the projected period. This dominance is driven by the abundant production of castor oil in countries like India, strong demand from cosmetics, pharmaceutical, and industrial sectors, and the region’s growing focus on sustainable, bio-based chemical solutions across multiple industries.

North America is expected to grow at the fastest CAGR of the global ricinoleic acid market during the projected period. The region benefits from strong demand in the cosmetics, pharmaceuticals, and automotive sectors. Growing consumer preference for natural ingredients, advancements in bio-based chemical applications, and a robust industrial base support continued market growth across the U.S. and Canada.

Company Profiling 

Major vendors in the global ricinoleic acid market are Tokyo Chemical Industry Co., Ltd., Parchem Fine and Specialty Chemicals Jacob Stern and Sons Inc., Cayman Chemical Co., and Itoh Oil, and others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global Ricinoleic Acid market based on the below-mentioned segments:

Global Ricinoleic Acid Market, By Source

• Castor Oil
• Synthetic Esterification

Global Ricinoleic Acid Market, By Application

• Cosmetics and Personal Care
• Pharmaceuticals
• Plastics and Coatings
• Lubricants and Greases
• Others

Global Ricinoleic Acid Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa