Castor Market Overview
Castor Market size is estimated to reach $2.9 billion by 2027, growing at a CAGR of 3.7% during the forecast period 2022-2027. Castor is cultivated for its seeds and oil. Castor may be utilized to prepare manure and plant stalks as fuel or as thatching material or for making paper pulp. Castor leaves are fed to silkworms. Commercial cultivation of castor seeds is very profitable owing to its demand in local and international markets. Castor oil is a vegetable oil pressed from castor beans. It involves a blend of triglycerides in which around 90% of fatty acids are ricinoleates. Oleic acid and linoleic acid are the additional important constituents. The surging application of castor seeds in the treatment of rheumatism and arthritis is set to drive the Castor Market. The soaring application of castor oil and its derivatives in the production of soaps, liquid biofuels and lubricants is set to propel the growth of the Castor Industry during the forecast period 2022-2027. This represents the Castor Industry Outlook.
Castor Market Report Coverage
The report: “Castor Market Report - Forecast
(2022-2027)” by IndustryARC, covers an in-depth analysis of the following
segments in the Castor
Market.
By Type: Castor Seeds and Castor Oil.
By Application: Food & Beverages, Medical, Lubricant, Soap, Transparent Paper And Printing Inks, Varnishes, Linoleum, Plasticizers and Others.
By Geography: North America (the U.S., Canada and Mexico), Europe (Germany, France, UK,
Italy, Spain, Russia and the Rest of Europe), Asia-Pacific (China, Japan, South
Korea, India, Australia & New Zealand and Rest of Asia-Pacific), South
America (Brazil, Argentina, Chile, Colombia, Rest of South America) and Rest Of
The World (Middle East, Africa).
Key Takeaways
- Geographically, Asia-Pacific (Castor market share) accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the existence of top producers of castor oil like India in the Asia-Pacific region.
- Castor Market growth is being driven by the surging application of castor seeds for medicinal and lighting purposes. However, as castor oil is a powerful laxative, its overdose may bring about muscle cramps and this is one of the major factors hampering the growth of the Castor Market.
- Castor Market Detailed Analysis of the Strengths, Weaknesses and Opportunities of the prominent players operating in the market will be provided in the Castor Market report.
Castor Market: Market Share (%) by Region, 2021
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Castor Market Segment Analysis - By Type
The Castor Market based on type can be further segmented into Castor Seeds and Castor Oil. The Castor Oil Segment held the largest Castor market share in 2021. This growth is owing to the vital commercial value of castor oil principally for the production of soaps, liquid biofuels, lubricants and coatings. The enormous global castor oil production in Gujarat in India and the proliferating application of castor oil for decreasing pigmentation and increasing immunity are further propelling the growth of the Castor Oil segment. Furthermore, the Castor Seeds segment is estimated to grow with the fastest CAGR of 4.2% during the forecast period 2022-2027 owing to the heightening production of organic castor seeds in countries like Brazil, China, Thailand, India, the Philippines and Pakistan; and the seed including 45% to 47% of non-edible oil applied for medicinal, domestic and industrial purposes.
Castor Market Segment Analysis - By Application
The Castor Market based on the application can be further segmented into Food & Beverages, Medical, Lubricant, Soap, Transparent Paper And Printing Inks, Varnishes, Linoleum, Plasticizers and Others. The Castor Oil Production Segment held the largest Castor market share in 2021. This growth is owing to the spiraling production of castor oil in countries like Brazil and India. The snowballing application of castor oil in contemporary medicine is further propelling the growth of this segment. Furthermore, the Treatment Of Health Conditions segment is estimated to grow with the fastest CAGR of 4.5% during the forecast period 2022-2027 owing to the heightening application of castor oil in the treatment of acne, Athlete’s Foot and Menstrual cramps.
Castor Market Segment Analysis - By Geography
The Castor Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America and the Rest of the World. Asia-Pacific (Castor Market) held the largest Castor market share with 35% of the overall market in 2021. The growth of this region is owing to the soaring production of castor seeds in countries like India, China and Thailand in the Asia-Pacific region. The surging inclination of farmers toward natural farming methods is further propelling the growth of the Castor Industry, thereby contributing to the Castor Industry Outlook, in the Asia-Pacific region. Furthermore, the North American region is estimated to be the region with the fastest CAGR over the forecast period 2022-2027. This growth is owing to factors like the extensive application of castor oil in pharmaceuticals in the North American region. The spiraling application of castor oil in cosmetics is further fuelling the progress of the Castor Market in the North American region.
Castor Market Drivers
Surging Applications of Castor Oil are Projected to Drive the Growth of the Castor Market:
Castor oil is recognized to include up to 90% ricinoleic, 4% linoleic, 3% oleic, 1% stearic and lower than 1% linolenic fatty acids. Castor oil has numerous medicinal, industrial and pharmaceutical applications. It is typically utilized as an added ingredient in foods, medicines and skin care products. It is also applied as an industrial lubricant and liquid biofuel constituent. Castor oil is utilized as a natural cure to treat diseases like eye irritation and is even utilized to prompt labor in pregnancy. It can frequently be discovered in organic beauty products. The surging health advantages of Castor Oil are therefore fuelling the growth of the Castor Market during the forecast period 2022-2027.
Soaring Health Advantages of Castor Oil is Expected to Boost the Growth of the Castor Industry:
Castor seeds include between 45% and
60% of oil abundant in triglycerides, principally ricinolein. Castor oil cures
inflamed skin. It also combats signs of aging. Castor oil decreases acne and
moisturizes the skin. Castor oil neutralizes blemishes. Castor oil is utilized as a
natural laxative. It is approved by the
U.S. Food And Drug Administration (FDA) as a stimulative laxative. Stimulative
laxatives act at an accelerated pace and are typically utilized to alleviate temporary
constipation or to clear out the bowels prior to medical procedures. These
kinds of soaring health advantages of Castor Oil are therefore driving the
growth of the Castor Industry, thereby contributing to the Castor Industry
Outlook during the forecast period 2022-2027.
Castor Market Challenge
Side Effects And Allergies Of Castor Seeds are Hampering the Growth of the Castor Market:
Surplus consumption of castor seed oil during
pregnancy can result in abortion. The total fat existing in castor seeds is 5.8 grams per
100 grams. For nursing mothers, while the oil assists in enhancing lactation,
surplus application of the oil can negatively impact the baby. Castor seeds need
to be ever utilized after eliminating the outer covering correctly to prevent
the highly toxic protein, ricin from poisoning. Surplus application of castor
oil on the skin can make the skin red in color in certain cases and if so, the
application needs to be halted instantly. These issues are thus hampering the
growth of the Castor Market.
Castor Industry Outlook
Product launches, mergers and acquisitions, joint
ventures and geographical expansions are key strategies adopted by players in
the Castor Market. The top 10 companies in the Castor market
are:
- Adani Wilmar Ltd.
- Gokul Refoils and Solvent
- NK Proteins
- Kisan Agro
- Cargill Inc.
- Kanak Castor Products
- Adya Oils
- Shivam Castor Products
- Thai Castor Oil
- Itoh Oil Chemicals
Recent Developments
- In July 2022, Cargill and Continental Grain Company declared the finishing of the formerly declared acquisition of Sanderson Farms, Inc. This was performed by a joint venture between Cargill and Continental Grain. The acquisition was declared on August 9, 2021.
- In December 2021, Cargill attained an agreement with Croda. This was performed to gain the majority of its performance technologies and industrial chemicals business for EUR 915,000,000 (1.03bln USD). This was carried out on a cash-free, debt-free basis.
- In July 2021, Cargill declared financing of $45 million. This was carried out to include soluble fibers in its European portfolio of starches, sweeteners and texturizers. The move symbolizes the firm’s first entry into the European soluble fiber market.
Relevant Reports:
LIST OF TABLES
1.Global Key Manufacturers Market 2019-2024 ($M)1.1 Gokul Refoils and Solvent Market 2019-2024 ($M) - Global Industry Research
1.2 NK Proteins Market 2019-2024 ($M) - Global Industry Research
1.3 Kisan Agro Market 2019-2024 ($M) - Global Industry Research
1.4 Girnar Industries Market 2019-2024 ($M) - Global Industry Research
1.5 Kanak Castor Products Market 2019-2024 ($M) - Global Industry Research
1.6 BOM Market 2019-2024 ($M) - Global Industry Research
1.7 Adya Oils Chemicals Market 2019-2024 ($M) - Global Industry Research
1.8 Shivam Castor Products Market 2019-2024 ($M) - Global Industry Research
1.9 Thai Castor Oil Market 2019-2024 ($M) - Global Industry Research
1.10 Itoh Oil Chemicals Market 2019-2024 ($M) - Global Industry Research
1.11 Azevedo Industria Market 2019-2024 ($M) - Global Industry Research
1.12 Hokoku Corporation Market 2019-2024 ($M) - Global Industry Research
1.13 Tongliao Weiyu Market 2019-2024 ($M) - Global Industry Research
1.14 Tianxing Group Market 2019-2024 ($M) - Global Industry Research
1.15 Yellow River Oil Market 2019-2024 ($M) - Global Industry Research
1.16 Guohua Oil Market 2019-2024 ($M) - Global Industry Research
1.17 Qianjin Oil Market 2019-2024 ($M) - Global Industry Research
2.Global Market by Type Market 2019-2024 ($M)
2.1 Commercial Castor Oil Market 2019-2024 ($M) - Global Industry Research
2.2 Refined Castor Oil Market 2019-2024 ($M) - Global Industry Research
2.3 Pale Pressed Refined Castor Oil Market 2019-2024 ($M) - Global Industry Research
3.Global Key Manufacturers Market 2019-2024 (Volume/Units)
3.1 Gokul Refoils and Solvent Market 2019-2024 (Volume/Units) - Global Industry Research
3.2 NK Proteins Market 2019-2024 (Volume/Units) - Global Industry Research
3.3 Kisan Agro Market 2019-2024 (Volume/Units) - Global Industry Research
3.4 Girnar Industries Market 2019-2024 (Volume/Units) - Global Industry Research
3.5 Kanak Castor Products Market 2019-2024 (Volume/Units) - Global Industry Research
3.6 BOM Market 2019-2024 (Volume/Units) - Global Industry Research
3.7 Adya Oils Chemicals Market 2019-2024 (Volume/Units) - Global Industry Research
3.8 Shivam Castor Products Market 2019-2024 (Volume/Units) - Global Industry Research
3.9 Thai Castor Oil Market 2019-2024 (Volume/Units) - Global Industry Research
3.10 Itoh Oil Chemicals Market 2019-2024 (Volume/Units) - Global Industry Research
3.11 Azevedo Industria Market 2019-2024 (Volume/Units) - Global Industry Research
3.12 Hokoku Corporation Market 2019-2024 (Volume/Units) - Global Industry Research
3.13 Tongliao Weiyu Market 2019-2024 (Volume/Units) - Global Industry Research
3.14 Tianxing Group Market 2019-2024 (Volume/Units) - Global Industry Research
3.15 Yellow River Oil Market 2019-2024 (Volume/Units) - Global Industry Research
3.16 Guohua Oil Market 2019-2024 (Volume/Units) - Global Industry Research
3.17 Qianjin Oil Market 2019-2024 (Volume/Units) - Global Industry Research
4.Global Market by Type Market 2019-2024 (Volume/Units)
4.1 Commercial Castor Oil Market 2019-2024 (Volume/Units) - Global Industry Research
4.2 Refined Castor Oil Market 2019-2024 (Volume/Units) - Global Industry Research
4.3 Pale Pressed Refined Castor Oil Market 2019-2024 (Volume/Units) - Global Industry Research
5.North America Key Manufacturers Market 2019-2024 ($M)
5.1 Gokul Refoils and Solvent Market 2019-2024 ($M) - Regional Industry Research
5.2 NK Proteins Market 2019-2024 ($M) - Regional Industry Research
5.3 Kisan Agro Market 2019-2024 ($M) - Regional Industry Research
5.4 Girnar Industries Market 2019-2024 ($M) - Regional Industry Research
5.5 Kanak Castor Products Market 2019-2024 ($M) - Regional Industry Research
5.6 BOM Market 2019-2024 ($M) - Regional Industry Research
5.7 Adya Oils Chemicals Market 2019-2024 ($M) - Regional Industry Research
5.8 Shivam Castor Products Market 2019-2024 ($M) - Regional Industry Research
5.9 Thai Castor Oil Market 2019-2024 ($M) - Regional Industry Research
5.10 Itoh Oil Chemicals Market 2019-2024 ($M) - Regional Industry Research
5.11 Azevedo Industria Market 2019-2024 ($M) - Regional Industry Research
5.12 Hokoku Corporation Market 2019-2024 ($M) - Regional Industry Research
5.13 Tongliao Weiyu Market 2019-2024 ($M) - Regional Industry Research
5.14 Tianxing Group Market 2019-2024 ($M) - Regional Industry Research
5.15 Yellow River Oil Market 2019-2024 ($M) - Regional Industry Research
5.16 Guohua Oil Market 2019-2024 ($M) - Regional Industry Research
5.17 Qianjin Oil Market 2019-2024 ($M) - Regional Industry Research
6.North America Market by Type Market 2019-2024 ($M)
6.1 Commercial Castor Oil Market 2019-2024 ($M) - Regional Industry Research
6.2 Refined Castor Oil Market 2019-2024 ($M) - Regional Industry Research
6.3 Pale Pressed Refined Castor Oil Market 2019-2024 ($M) - Regional Industry Research
7.South America Key Manufacturers Market 2019-2024 ($M)
7.1 Gokul Refoils and Solvent Market 2019-2024 ($M) - Regional Industry Research
7.2 NK Proteins Market 2019-2024 ($M) - Regional Industry Research
7.3 Kisan Agro Market 2019-2024 ($M) - Regional Industry Research
7.4 Girnar Industries Market 2019-2024 ($M) - Regional Industry Research
7.5 Kanak Castor Products Market 2019-2024 ($M) - Regional Industry Research
7.6 BOM Market 2019-2024 ($M) - Regional Industry Research
7.7 Adya Oils Chemicals Market 2019-2024 ($M) - Regional Industry Research
7.8 Shivam Castor Products Market 2019-2024 ($M) - Regional Industry Research
7.9 Thai Castor Oil Market 2019-2024 ($M) - Regional Industry Research
7.10 Itoh Oil Chemicals Market 2019-2024 ($M) - Regional Industry Research
7.11 Azevedo Industria Market 2019-2024 ($M) - Regional Industry Research
7.12 Hokoku Corporation Market 2019-2024 ($M) - Regional Industry Research
7.13 Tongliao Weiyu Market 2019-2024 ($M) - Regional Industry Research
7.14 Tianxing Group Market 2019-2024 ($M) - Regional Industry Research
7.15 Yellow River Oil Market 2019-2024 ($M) - Regional Industry Research
7.16 Guohua Oil Market 2019-2024 ($M) - Regional Industry Research
7.17 Qianjin Oil Market 2019-2024 ($M) - Regional Industry Research
8.South America Market by Type Market 2019-2024 ($M)
8.1 Commercial Castor Oil Market 2019-2024 ($M) - Regional Industry Research
8.2 Refined Castor Oil Market 2019-2024 ($M) - Regional Industry Research
8.3 Pale Pressed Refined Castor Oil Market 2019-2024 ($M) - Regional Industry Research
9.Europe Key Manufacturers Market 2019-2024 ($M)
9.1 Gokul Refoils and Solvent Market 2019-2024 ($M) - Regional Industry Research
9.2 NK Proteins Market 2019-2024 ($M) - Regional Industry Research
9.3 Kisan Agro Market 2019-2024 ($M) - Regional Industry Research
9.4 Girnar Industries Market 2019-2024 ($M) - Regional Industry Research
9.5 Kanak Castor Products Market 2019-2024 ($M) - Regional Industry Research
9.6 BOM Market 2019-2024 ($M) - Regional Industry Research
9.7 Adya Oils Chemicals Market 2019-2024 ($M) - Regional Industry Research
9.8 Shivam Castor Products Market 2019-2024 ($M) - Regional Industry Research
9.9 Thai Castor Oil Market 2019-2024 ($M) - Regional Industry Research
9.10 Itoh Oil Chemicals Market 2019-2024 ($M) - Regional Industry Research
9.11 Azevedo Industria Market 2019-2024 ($M) - Regional Industry Research
9.12 Hokoku Corporation Market 2019-2024 ($M) - Regional Industry Research
9.13 Tongliao Weiyu Market 2019-2024 ($M) - Regional Industry Research
9.14 Tianxing Group Market 2019-2024 ($M) - Regional Industry Research
9.15 Yellow River Oil Market 2019-2024 ($M) - Regional Industry Research
9.16 Guohua Oil Market 2019-2024 ($M) - Regional Industry Research
9.17 Qianjin Oil Market 2019-2024 ($M) - Regional Industry Research
10.Europe Market by Type Market 2019-2024 ($M)
10.1 Commercial Castor Oil Market 2019-2024 ($M) - Regional Industry Research
10.2 Refined Castor Oil Market 2019-2024 ($M) - Regional Industry Research
10.3 Pale Pressed Refined Castor Oil Market 2019-2024 ($M) - Regional Industry Research
11.APAC Key Manufacturers Market 2019-2024 ($M)
11.1 Gokul Refoils and Solvent Market 2019-2024 ($M) - Regional Industry Research
11.2 NK Proteins Market 2019-2024 ($M) - Regional Industry Research
11.3 Kisan Agro Market 2019-2024 ($M) - Regional Industry Research
11.4 Girnar Industries Market 2019-2024 ($M) - Regional Industry Research
11.5 Kanak Castor Products Market 2019-2024 ($M) - Regional Industry Research
11.6 BOM Market 2019-2024 ($M) - Regional Industry Research
11.7 Adya Oils Chemicals Market 2019-2024 ($M) - Regional Industry Research
11.8 Shivam Castor Products Market 2019-2024 ($M) - Regional Industry Research
11.9 Thai Castor Oil Market 2019-2024 ($M) - Regional Industry Research
11.10 Itoh Oil Chemicals Market 2019-2024 ($M) - Regional Industry Research
11.11 Azevedo Industria Market 2019-2024 ($M) - Regional Industry Research
11.12 Hokoku Corporation Market 2019-2024 ($M) - Regional Industry Research
11.13 Tongliao Weiyu Market 2019-2024 ($M) - Regional Industry Research
11.14 Tianxing Group Market 2019-2024 ($M) - Regional Industry Research
11.15 Yellow River Oil Market 2019-2024 ($M) - Regional Industry Research
11.16 Guohua Oil Market 2019-2024 ($M) - Regional Industry Research
11.17 Qianjin Oil Market 2019-2024 ($M) - Regional Industry Research
12.APAC Market by Type Market 2019-2024 ($M)
12.1 Commercial Castor Oil Market 2019-2024 ($M) - Regional Industry Research
12.2 Refined Castor Oil Market 2019-2024 ($M) - Regional Industry Research
12.3 Pale Pressed Refined Castor Oil Market 2019-2024 ($M) - Regional Industry Research
13.MENA Key Manufacturers Market 2019-2024 ($M)
13.1 Gokul Refoils and Solvent Market 2019-2024 ($M) - Regional Industry Research
13.2 NK Proteins Market 2019-2024 ($M) - Regional Industry Research
13.3 Kisan Agro Market 2019-2024 ($M) - Regional Industry Research
13.4 Girnar Industries Market 2019-2024 ($M) - Regional Industry Research
13.5 Kanak Castor Products Market 2019-2024 ($M) - Regional Industry Research
13.6 BOM Market 2019-2024 ($M) - Regional Industry Research
13.7 Adya Oils Chemicals Market 2019-2024 ($M) - Regional Industry Research
13.8 Shivam Castor Products Market 2019-2024 ($M) - Regional Industry Research
13.9 Thai Castor Oil Market 2019-2024 ($M) - Regional Industry Research
13.10 Itoh Oil Chemicals Market 2019-2024 ($M) - Regional Industry Research
13.11 Azevedo Industria Market 2019-2024 ($M) - Regional Industry Research
13.12 Hokoku Corporation Market 2019-2024 ($M) - Regional Industry Research
13.13 Tongliao Weiyu Market 2019-2024 ($M) - Regional Industry Research
13.14 Tianxing Group Market 2019-2024 ($M) - Regional Industry Research
13.15 Yellow River Oil Market 2019-2024 ($M) - Regional Industry Research
13.16 Guohua Oil Market 2019-2024 ($M) - Regional Industry Research
13.17 Qianjin Oil Market 2019-2024 ($M) - Regional Industry Research
14.MENA Market by Type Market 2019-2024 ($M)
14.1 Commercial Castor Oil Market 2019-2024 ($M) - Regional Industry Research
14.2 Refined Castor Oil Market 2019-2024 ($M) - Regional Industry Research
14.3 Pale Pressed Refined Castor Oil Market 2019-2024 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Global Castor Market Revenue, 2019-2024 ($M)2.Canada Global Castor Market Revenue, 2019-2024 ($M)
3.Mexico Global Castor Market Revenue, 2019-2024 ($M)
4.Brazil Global Castor Market Revenue, 2019-2024 ($M)
5.Argentina Global Castor Market Revenue, 2019-2024 ($M)
6.Peru Global Castor Market Revenue, 2019-2024 ($M)
7.Colombia Global Castor Market Revenue, 2019-2024 ($M)
8.Chile Global Castor Market Revenue, 2019-2024 ($M)
9.Rest of South America Global Castor Market Revenue, 2019-2024 ($M)
10.UK Global Castor Market Revenue, 2019-2024 ($M)
11.Germany Global Castor Market Revenue, 2019-2024 ($M)
12.France Global Castor Market Revenue, 2019-2024 ($M)
13.Italy Global Castor Market Revenue, 2019-2024 ($M)
14.Spain Global Castor Market Revenue, 2019-2024 ($M)
15.Rest of Europe Global Castor Market Revenue, 2019-2024 ($M)
16.China Global Castor Market Revenue, 2019-2024 ($M)
17.India Global Castor Market Revenue, 2019-2024 ($M)
18.Japan Global Castor Market Revenue, 2019-2024 ($M)
19.South Korea Global Castor Market Revenue, 2019-2024 ($M)
20.South Africa Global Castor Market Revenue, 2019-2024 ($M)
21.North America Global Castor By Application
22.South America Global Castor By Application
23.Europe Global Castor By Application
24.APAC Global Castor By Application
25.MENA Global Castor By Application