Global Castor Oil Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Cold Pressed Castor Oil, Hydrogenated Castor Oil, Jamaican Black Castor Oil, Dehydrated Castor Oil, and Others), By Application (Lubricants, Biodiesel, Cosmetics and Pharmaceuticals, Plastics and Resins, and Others). and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2025 - 2035

Global Castor Oil Market Size Insights Forecasts to 2035

• The Global Castor Oil Market Size Was Estimated at USD 1.31 Billion in 2024
• The Market Size is Expected to Grow at a CAGR of around 3.24 % from 2025 to 2035
• The Worldwide Castor Oil Market Size is Expected to Reach USD 1.86 Billion by 2035
• North America is expected to Grow the fastest during the forecast period.

According to a Research Report Published by Spherical Insights and Consulting, The Global Castor Oil Market Size was valued at around USD 1.31 Billion in 2024 and is predicted to Grow to around USD 1.86 Billion by 2035 with a compound annual growth rate (CAGR) of 3.24 % from 2025 to 2035. Growing demand for bio-based lubricants, medicines, cosmetics, renewable chemicals, and sustainable industrial uses, along with growing global awareness of environmentally friendly products, presents an opportunity for the castor oil market.

Market Overview  

The global commercial ecosystem engaged in the production, processing, distribution, and consumption of castor oil and its derivatives is referred to as the castor oil market. The seeds of the castor plant (Ricinus communis) are used to extract castor oil, a vegetable-based oil that is not edible. The market includes downstream applications such as medicines, cosmetics, personal care products, lubricants, polymers, coatings, agrochemicals, and bio-based industrial products, as well as upstream activities including oil extraction and castor seed cultivation. The National Mission on Edible Oils (NMEO-OP) in India encourages the growth of oilseeds, with a goal of 40 lakh more hectares by 2026. For Instance, In march 2024, A subsidiary of Evogene Ltd, Casterra Ag Ltd, launched advanced bio-based castor seeds, boosting castor oil production by collaborating with emerging and established seed producers across Brazil and African markets. Growing demand for plant-derived ingredients in food, pharmaceutical, and personal care products, as well as increased reliance on bio-based raw materials for industrial applications, are driving castor oil market expansion.  

Report Coverage  

This research report categorizes the castor oil market based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the castor oil market. Recent market developments and competitive strategies, such as expansion, product launch, development, partnership, merger, and acquisition, have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyzes their core competencies in each sub-segment of the castor oil market.           

Driving Factors    

The usage of castor oil in moisturizing lotions, lip balms, and shampoos is nevertheless fueled by the rising demand for clean-label and naturally based personal care products. The cattle feed industry is expanding quickly, and milk producers have begun substituting nutritionally balanced compound feed for their hydrogenated castor oil bovine feed after realizing the observable advantages of nutritional feed in terms of increased productivity. Due to the growing number of sensitive people, green cosmetics are becoming more and more popular, which is anticipated to boost castor oil sales.

Restraining Factors   

The market for castor oil is restricted by a number of factors, including volatile raw material prices, restricted cultivation areas, reliance on climate, unpredictability in the supply chain, and competition from synthetic and alternative vegetable oils in certain industrial applications.

Market Segmentation       

The castor oil market share is classified into product type and application.      

• The hydrogenated castor oil segment accounted for the largest share in 2024 and is anticipated to grow at a significant CAGR during the forecast period.              

Based on the product type, the castor oil market is divided into cold pressed castor oil, hydrogenated castor oil, Jamaican black castor oil, dehydrated castor oil, and others. Among these, the hydrogenated castor oil segment accounted for the largest share in 2024 and is anticipated to grow at a significant CAGR during the forecast period. In the chemical and cosmetic sectors, hydrogenated castor oil is crucial. The goal of hydrogenating castor oil is to increase its melting point in addition to improving its flavor, odor, and shelf life. The demand for hydrogenated castor oil is rising due to its expanding application in the cosmetics industry.  

• The plastics and resins segment accounted for the highest market revenue in 2024 and is anticipated to grow at a significant CAGR during the forecast period.        

Based on the application, the castor oil market is divided into lubricants, biodiesel, cosmetics and pharmaceuticals, plastics and resins, and others. Among these, the plastics and resins segment accounted for the highest market revenue in 2024 and is anticipated to grow at a significant CAGR during the forecast period.  crude oil, the plastics and resins section is widely used as a primary ingredient for creating plastics. Additionally, it replaces recovered plastics in the textile industry. High-temperature resistance, toughness, flexibility, stiffness, chemical resistance, strong adhesion, and formulation adaptability are among the remarkable qualities of castor oil-derived resins, such as polyamide resin and epoxy modified with castor oil.

Regional Segment Analysis of the Castor Oil Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific is anticipated to hold the largest share of the castor oil market over the predicted timeframe.  

Asia Pacific is anticipated to hold the largest share of the castor oil market over the predicted timeframe. The demand for the castor oil market in this area will increase as people become more conscious of the advantages of castor oil for their skin and digestive systems, and concentrate on using castor oil-infused goods. The increase in the product's production and consumption is responsible for the demand. In addition to the semi-arid regions of China, Japan, and South Korea, castor seeds are grown in the tropical regions of India, Myanmar, Vietnam, Pakistan, Cambodia, Thailand, Bangladesh, the Philippines, and Indonesia. In order to increase output and export potential, government initiatives like India's National Mission on Edible Oils-Oil Palm (NMEO-OP) in 2024 seek to increase oilseed acreage by 40 lakh hectares. BASF's Pragati program, which achieved a 20% yield boost, is one example of recent developments. The increase in the product's production and consumption is responsible for the demand. 

North America is expected to grow at a rapid CAGR in the castor oil market during the forecast period. The rising need for bio-based lubricants, polymers, fuels, cosmetics, and other products is the reason for this region's expansion. Owing to the region's ideal climate, affordable labor, and well-established supply chains, the region, especially nations like India, dominates the world's castor oil and seed exports. Because of their practical uses in a variety of industries, including textiles, packaging, paint, automobiles, and construction, biogenic components are favored in this area. Government attempts to support castor-derived biofuels under the Sustainable Aviation Fuel Grand Challenge include the U.S. Department of Energy's Bioenergy Technologies Office programs in 2025.   

Competitive Analysis:      

The report offers the appropriate analysis of the key organizations/companies involved within the castor oil market, along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborate analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.     

List of Key Companies

• Adani Wilmar
• Ambuja Solvex Pvt. Ltd.
• Arvalli Castor Derivatives Pvt. Ltd.
• Girnar Industries
• Gokul Agri International
• Hengshui Jinghua Chemical Co., Ltd.
• Hokoku Corporation
• ITOH Oil Chemical Ltd.
• Jayant Agro-Organics Limited
• Jayan Agro Organics Ltd.
• Kanak Castor Products
• Kokura Gosei Kogyo Ltd.
• Krishna Antioxidants Pvt. Ltd.
• NK Industries
• Others  

Key Target Audience

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

Recent Development

• In March 2024, Casterra Ag Ltd., a subsidiary of Evogen Ltd., launched expanded castor seed production by partnering with African and Brazilian producers, enhancing high-yielding bio-based castor oil supply capabilities.

• In February 2024, Researchers at the University of Auckland, led by Catherine Jennings, launched a clinical trial exploring castor oil as a safe, natural treatment for dry-eye conditions following promising pilot study results.

Market Segment  

This study forecasts revenue at global, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the castor oil market based on the below-mentioned segments:   

Global Castor Oil Market, By Product Type

• Cold Pressed Castor Oil
• Hydrogenated Castor Oil
• Jamaican Black Castor Oil
• Dehydrated Castor Oil
• Others

Global Castor Oil Market, By Application

• Lubricants
• Biodiesel
• Cosmetics and Pharmaceuticals
• Plastics and Resins
• Others

Global Castor Oil Market, By Regional Analysis

• 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