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India Castor Oil Market to Reach 106.6 Kilo Tons by 2027, Impelled by Growing Demand from Industrial Sector

Published on Nov 17, 2022

According to the latest report by IMARC Group, titled "India Castor Oil Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the India castor oil market reached 100.7 Kilo Tons in 2021. Castor oil is mainly derived from the beans of the Ricinus Communis plant, that is widely used for a wide range of medicinal and cosmetic purposes. It is characterized by a thick translucent and odorless liquid with a yellow tint that offers excellent lubricating properties. It is directly applied to the skin due to its anti-inflammatory, moisturizing and antimicrobial properties. Additionally, it is often mixed with other oils as it is widely utilized for promoting hair health and growth. Besides this, it is a rich source of several essential nutrients, such as vitamin E and omega fatty acids, and acts as a natural laxative that assists in relieving constipation and stimulating digestion.   

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

India Castor Oil Market Trends:

The market in India is primarily driven by significant growth in the pharmaceutical industry. This is supported by the increasing adoption of castor oil as a tablet-capsule lubricant and stiffening agent that is beneficial in skin burns, lesions and eruptions and sinusitis. Since it comprises a high proportion of ricinoleic acid that contributes to unique viscosity and high polarity and solubility, this is providing a boost to the demand for castor oil as an industrial lubricant. Apart from this, the growing product utilization in the formulation of cosmetic products that are useful against eczema, psoriasis and dermatitis is impacting the market growth favorably. Moreover, the escalating adoption of castor oil for cleaning dentures that help reduce the risks of developing denture stomatitis is creating a positive market outlook. Other factors, including rapid industrialization, the rising consumer awareness regarding the benefits of castor oil and extensive research and development (R&D) activities conducted by key players, are also positively influencing the market across India. On account of the aforementioned factors, the market is anticipated to reach 106.6 Kilo Tons by 2027.

Market Summary:

  • On the basis of the end-use, the market has been segmented into pharmaceuticals, lubricants, paints, soaps and others.
  • Based on the region, the market has been classified into North India, West and Central India, South India and East India.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
     

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