Castor Oil & Derivatives Market Set to Grow to USD 2.14 Billion by 2032
The castor oil & derivatives market was valued at USD 1.42 billion in 2024 and is projected to reach USD 2.14 billion by 2032, with a CAGR of 5.28% from 2025 to 2032. Sustainable sourcing and plant-based alternatives are driving global demand, particularly in cosmetics, pharmaceuticals, and industrial manufacturing.
The United States leads the market with a USD 176.07 million market size and 61% market share in 2024. Castor oil derivatives are gaining importance in pharmaceuticals, cosmetics, automotive, and lubricant applications due to their unique chemical properties and eco-friendly profile.
The market is dominated by key players like Jayant Agro Organics Limited, Adani Wilmar Ltd., and Thai Castor Oil Industries Co., Ltd. Asia Pacific holds a dominant position in the market, with India being the world’s top producer and exporter of castor oil.
Recent developments include Jayant Agro-Organics Ltd. expanding its production facility for hydrogenated castor oil and Hokoku Corporation collaborating with a German biotech firm to develop biopolymers using sebacic acid derived from castor oil. For more information, visit SNS Insider for a full research report on the Castor Oil & Derivatives Market from 2025-2032.
Read more at GlobeNewswire: Castor Oil & Derivatives Market to Reach USD 2.14 Billion