- Castor oil, derived from the seeds of Ricinus communis, is an essential bio-based oil widely used across industrial, pharmaceutical, cosmetic, and food sectors. Its unique chemical composition, particularly high ricinoleic acid content, enables its application in lubricants, surfactants, coatings, biodiesel, and skincare formulations, making it a sustainable alternative to petrochemicals
- The escalating demand for castor oil is primarily driven by growing awareness around sustainability, increasing demand for natural and organic personal care products, and expanding usage in bio-based industrial applications including resins, plastics, and adhesives. In addition, favorable regulatory support for green chemicals in the U.S. and EU is further encouraging industrial uptake
- Asia-Pacific dominates the castor oil market with the largest revenue share of 52.4% in 2024, largely due to India, which contributes over 85% of the world’s castor oil production. The region benefits from extensive cultivation, processing capabilities, and export infrastructure. India alone accounts for over 75% of global castor oil exports, mainly to the U.S., China, and European countries
- Europe is expected to be the fastest-growing region in the castor oil market during the forecast period, growing at a CAGR of 7.3%. This growth is driven by EU regulations promoting bio-based alternatives, as well as increasing demand from the cosmetic, pharmaceutical, and industrial sectors, particularly in Germany, France, and the Netherlands
- The industrial grade segment is expected to dominate the castor oil market with a market share of 47.8% in 2024, owing to its extensive use in lubricants, paints, coatings, biodiesel, and polymers. Industrial-grade castor oil’s ability to replace petroleum-based inputs in manufacturing supports its demand from companies pursuing ESG and carbon-reduction goal
