Home India Castor Seed & Oil Market- Trend Analysis & Forecast to 2030
India Castor Seed & Oil Market Report

India Castor Seed & Oil Market- Trend Analysis & Forecast to 2030

Castor seed market valued at US$ ** million and production reached 1.72 million tonnes in 2023-24 with a Compound Annual Growth Rate (CAGR) of 7.68% between 2018 and 2023. India...

Report ID: COM-004 122 Pages Status: Upcoming
Sale price $2,450.00
License Type: Single User
India Castor Seed & Oil Market Report

India Castor Seed & Oil Market- Trend Analysis & Forecast to 2030

Castor seed production in India reached 1.72 million tonnes in 2023-24, experienced a 7.68% Compound Annual Growth Rate (CAGR) between 2018 and 2023. India castor oil production stood at 850 thousand tonnes in 2023-24. India is a leading producer and exporter of castor seed and oil, accounting for a significant portion (88-89%) of the global supply Castor oil and its derivatives find diverse applications across various industries, including pharmaceuticals, cosmetics, lubricants, and biofuels. This versatility makes it an indispensable commodity in the global market, serving vital roles in multiple sectors.

Primary Areas/ Elements of Research & Analysis

The report provides comprehensive and valuable insights into the supply and demand dynamics of the India castor seed & oil market. Below are the variables considered and analyzed in the report:

■  Analysis of the India castor seed & oil market with respect to supply-demand, growth trends, and trade (export & import) patterns
■  A review of structure, conduct, and performance of the market
■  Historical, estimated, and forecasts of India castor seed & oil market size in terms of volume (tonnes) and value (USD)
■  Analysis of country castor seed & oil trade patterns covering exports, imports, quantities, values, key partners, and trade price trends
■  Detailed mapping of the supply chain, pricing analysis, and regulatory details
■  Competitive landscape analysis, including India castor seed & oil market mapping and profiling of key companies (Overview, products, services, and core   competencies)
■  Assessment of other relevant factors impacting India castor seed & oil market performance

The report sections furnish numerous data points contributing to the better understanding of the India castor seed & oil market dynamics and future outlook.

India’s Significance in the Global Castor Seed & Oil Supply

India holds significant importance in the global castor seed and oil supply chain for several reasons. Firstly, the country boasts a considerable production capacity and exports a large volume of castor seed and oil annually. This substantial production capacity ensures that India remains a key player in meeting global demand for castor products. India leads the global production of castor seed, contributing to approximately 88-89% of the total output, followed by Mozambique with 4%, Brazil with 1.4%, and China with 1.3%.

Furthermore, India's geographical advantage adds to its prominence in the market. The nation's diverse landscape and favorable climatic conditions provide an ideal environment for castor cultivation. States like Gujarat and Rajasthan, which are major producers of castor seed, benefit from suitable agro-climatic conditions that support high yields.

India's dominance in the global castor seed and oil supply chain is also bolstered by its export orientation. With a significant portion of its domestic production being exported, India caters to the needs of international markets, thereby shaping the dynamics of the global castor industry. In essence, India's substantial production capacity, favorable geography, and export-oriented approach solidify its position as a pivotal player in the global castor seed and oil supply chain, ensuring a steady flow of products to meet the demands of various industries worldwide.

Production and Demand Trend

India's castor seed production has shown a steady increase over the years, driven by rising demand from various end-use industries and export demand. Simultaneously, governmental efforts are aiding in the promotion of castor cultivation and enhancing productivity. The demand for castor oil is expected to continue growing, fueled by its versatile applications and increasing awareness regarding its benefits.

Gujarat and Rajasthan collectively represent 96-98% of India's total castor seed production, making them the primary contributors in the country. India crushes approximately 98% of its total castor seed production, resulting in an annual production of nearly 800-850 thousand tonnes of castor oil. Castor oil and its derivatives are primarily export-oriented commodities, with approximately 78% of domestic castor oil production being exported to fulfill global demand. At the same time, India also exports 120-140 thousand tonnes of castor oil derivatives annually (such as hydrogenated castor oil (HCO), Dehydrated castor oil (DCO), and Sebacic acid).

Trade Analysis (Export & Import)

India is a major player in the global castor seed and oil trade, with significant exports to various countries. Fluctuations in international prices, currency exchange rates, and trade policies impact India's trade dynamics in this sector. Imports of castor oil derivatives for specialized applications in sectors like pharmaceuticals and cosmetics.

In 2022-23, India exported castor oilseeds valued at US$ 3.53 million and castor oil along with its fractions valued at US$ 1,133.29 million. Notably, China emerged as the primary importer of castor and its derivatives, constituting 46% of India's export value. Other significant importers from India include the Netherlands, France, the USA, and Japan. Together, these top five countries accounted for 84% of India's castor oil and its fractions by value in 2022-23. Additionally, India exported sebacic acid valued at US$ 25 million in 2022-23, with the USA, the Netherlands, and Japan serving as the main importers of this product from India.

Market Growth Factors
Increasing Demand for Sustainable Products

There's a global shift towards sustainable and eco-friendly products across industries. Castor oil, being a renewable resource with versatile applications, is gaining traction as a preferred ingredient in various sectors. Its biodegradability and low environmental impact contribute to its attractiveness in industries striving for sustainability.

Expanding Applications in Pharmaceuticals

Castor oil and its derivatives have long been utilized in pharmaceutical formulations due to their medicinal properties. As the pharmaceutical industry continues to grow, driven by factors such as aging populations and increasing healthcare expenditures, the demand for castor oil as an excipient, laxative, and in drug delivery systems is expected to rise.

Rising Demand in Cosmetics and Personal Care

Castor oil is a key ingredient in cosmetics, skincare, and haircare products due to its moisturizing, emollient, and conditioning properties. With the beauty and personal care industry experiencing robust growth, particularly in emerging markets like India, the demand for castor oil in cosmetics formulations is expected to increase further.

Market Restraints
Price Volatility and Seasonal Fluctuations

Castor seed prices are subject to volatility due to factors such as weather conditions, pest infestations, and global market trends. Seasonal variations in production levels can lead to fluctuations in prices, impacting the profitability of castor farmers and oil processors. Sudden price spikes or drops may disrupt supply chains and pose challenges for market participants in planning and decision-making.

Competition from Alternative Oils and Substitutes

Castor oil faces competition from alternative vegetable oils and synthetic substitutes in various industrial applications. For instance, in the lubricants industry, synthetic oils and petroleum-based lubricants offer comparable performance characteristics to castor oil at competitive prices. Similarly, in the cosmetics and personal care sector, manufacturers may substitute castor oil with other botanical oils or synthetic emollients based on cost considerations and formulation requirements.

Market Opportunities

Opportunities for growth are emerging through technological advancements in extraction processes, the development of domestic processing methods to produce derivative products from castor oil, the expansion of export markets, and the adoption of sustainable cultivation practices.

India Castor Seed & Oil Supply/ Value Chain Bottlenecks/ Challenges

Cultivation and Harvesting Challenges: Castor cultivation suffers from limited access to high-quality seeds and planting materials, reliance on traditional farming methods with little mechanization, and vulnerability to weather fluctuations, pests, and diseases. These factors contribute to low productivity and yield variability.

Processing and Extraction Constraints: The industry faces challenges related to insufficient processing capacity, outdated technology in oil extraction mills, and high operating costs associated with traditional methods. Inconsistent oil quality due to variations in raw materials and processing parameters further complicates the situation, along with a shortage of skilled labor and technical expertise.

Market Access and Trade Barriers: Trade restrictions, tariffs, and non-tariff barriers affect the import/export of castor seed and oil. Compliance with phytosanitary regulations, sanitary and phytosanitary (SPS) measures, and international quality standards for export markets adds complexity to trade transactions. Limited access to market intelligence complicates market diversification and expansion efforts.

Castor Seed & Oil Price Setting Power of India

India's dominance in the global castor seed and oil market gives it significant pricing power. As the leading producer and exporter, India has the ability to influence global prices and set market trends. This setting power is further strengthened by the consistent quality of Indian castor oil, which is preferred by industries worldwide for its versatility and reliability. However, this power is somewhat tempered by the volatility in production due to climatic conditions and competition from alternative oils.

Castor Seed & Oil End-use Industries

Castor oil derived from Indian castor seeds serves as a critical input for various industries. It is extensively used in the cosmetics industry for products like moisturizers and soaps, in pharmaceuticals for laxatives and anti-inflammatory drugs, and in the industrial sector for manufacturing lubricants, coatings, and biodiesel. The oil's unique chemical properties, including its high viscosity and stability, make it a valuable resource for producing bio-based products, contributing to its widespread demand across these industries.

Market Segmentation Analysis

The market is segmented based on type, grade, and application. Application-based segmentation considers the diverse industries that utilize castor oil, including pharmaceuticals, cosmetics, lubricants, biofuels, and others. Each industry may have unique requirements and specifications for the type and quality of castor oil they require.

In India, castor oil and its derivatives find primary applications in the paint industry, soap industry, and lubricants. Approximately half of the total demand originates from the paint industry alone. Castor oil and its derivatives find extensive use in the paint industry as additives, binders, and pigment dispersants. In soap industry, castor oil is valued for its unique properties, including moisturizing, emollient, and cleansing properties.

India Castor Seed & Oil Market Competitive Analysis

The competitive landscape of the India castor seed and oil market is characterized by the presence of several players engaged in cultivation, processing, and distribution activities. These companies operate across the value chain, from seed production to oil extraction, refining, and marketing.

The Indian castor seed and oil market is highly competitive, with numerous players ranging from large-scale producers to small and medium enterprises. The market is characterized by the presence of well-established companies that control a significant share of production and export. These companies focus on maintaining quality standards and expanding their global footprint. The competition is further intensified by new entrants and smaller players who cater to niche markets and offer specialized castor oil derivatives.

Key Companies in India Castor Seed & Oil Market include (Producers/ Processors/ Exporters)

■ Jayant Agro-Organics Ltd.
■ Adani Wilmar Ltd.
■ Gokul Overseas
■ Royal Castor Products Ltd.
■ Ruchi Soya Industries Ltd.
■ Ambuja Solvex Pvt Ltd
■ N.K. Industries Ltd.
■ Amee Castor & Derivatives Ltd.
■ TGV SRAAC Ltd.
■ Gokul Overseas
■ Kisan Agro Product Industries
■ Shivam Castor Products PVT. Ltd.
■ Kanak Castor Products Pvt Ltd

Future Outlook

The future of the Indian castor seed and oil market looks promising, with projections indicating steady growth driven by increasing global demand for sustainable products. The market is expected to benefit from advancements in farming techniques, processing technologies, and government support initiatives. However, addressing supply chain bottlenecks and enhancing export competitiveness will be crucial for sustaining growth. As the global focus on bio-based products intensifies, India's leadership in the castor oil market is likely to strengthen, ensuring a positive outlook up to 2030.

Report Coverage

India castor seed & oil market report covers historical market data from 2015-2023 and projections to 2030. The report also includes supply & demand and trade (import-export) market analysis. The decision matrix analysis helped in identifying the barriers and their implications on the value chain and different factors of relative significance to the India castor seed & oil market are diligently tracked and their impact closely monitored for short, medium, and long-term market cycles. The report's contents cover an analysis of the aspects involved in the castor seed & oil market such as the parent market, the evolution of the industry, innovative technologies in the manufacturing process, supply chain, and profiling of key companies.

Scope of the Report

Report Attributes Details
Historical Years 2015–2022
Base Year 2023
Forecast Period 2024–2030
Units Value (US$ Million) and Volume (Tonnes)
Report Coverage Production, Consumption, Export, and Import
Segments Covered
  •   ▪ By Product (Castor Seed, Castor Oil Cake/Meal, Castor Oil & Derivatives (Hydrogenated Castor Oil, 12 Hydroxy Stearic Acid, Sebacic Acid, Dehydrated Castor Oil, Ricinoleic acid, Sabacic Acid, and Others))
  •   ▪ By End-use (Cosmetics & Personal Care, Pharmaceuticals, Paint Industry, Lubricants, and Others)
  •   ▪ By Sales (Domestic Consumption and Exports)
Geographies Covered India
Companies Profiled The market players include Jayant Agro-Organics Ltd., Adani Wilmar Ltd., Gokul Overseas, Royal Castor Products Ltd., Ruchi Soya Industries Ltd., Ambuja Solvex Pvt Ltd, N.K. Industries Ltd., Amee Castor & Derivatives Ltd., TGV SRAAC Ltd., Gokul Overseas, Kisan Agro Product Industries, Shivam Castor Products PVT. Ltd. and Others.

Research Design

Please request for a sample report to learn more about the report coverage (Contact us at: sales@statledger.com or +91-9226-888268).

Related Reports

■ USA Mushroom Market – Trend Analysis & Forecast to 2030
■ Mozambique Mushroom Market – Trend Analysis & Forecast to 2030
■ China Mushroom Market – Trend Analysis & Forecast to 2030
■ Japan Mushroom Market – Trend Analysis & Forecast to 2030

FAQs:
1. What is the production size of the castor seed in India?
India produced 1.72 million tonnes of castor seed & oil in 2023-24.

2. What is the production size of the castor oil in India?
India produces 800-850 thousand tonnes of castor oil annually.

3. What is the export size of the castor seed & oil derivatives in India?
In 2022-23, India exported castor oilseeds valued at US$ 3.53 million and castor oil along with its fractions valued at US$ 1,133.29 million.

4. Which are the major importers of castor seed & oil from India?
During 2023, notable importers of castor oil and its derivatives on a global scale encompassed countries such as the Netherlands, China, France, the USA, and Japan.

India Castor Seed & Oil Market – Supply & Demand, Trade, and Competitive Landscape Analysis

1. Executive Summary
2. Introduction

2.1. Objectives & Scope of the Study
2.2. Definitions & Economic Importance
2.3. Research Methodology
2.4. Factors and Decision Matrix Analysis
2.5. Limitations & Challenges

3. Commodity/ Product/ Market Overview

3.1. Evolution/ Origin & Geographic Suitability
3.2. Castor Crop Images
3.3. Castor Crop Seasonality
3.4. Processing & Grading
3.5. Application Areas
3.6. Regulatory Analysis

4. Country Profile
5. Global Castor Seed & Oil Market – An Overview
6. India Castor Seed & Oil Market Growth Factors Analysis

6.1. Drivers and Restraints Analysis
6.2. Challenges and Opportunities Analysis
6.3. Industry SWOT Analysis
6.4. PESTEL Analysis
6.5. Porter's Five Forces analysis

7. India Castor Seed & Oil Market: Supply Analysis

7.1. India Castor Seed & Crop Analysis (Area and Production)
7.2. India Castor Seed & Oil Production Trend
7.3. India Castor Seed & Oil Production, by Type
    7.3.1. Castor Seed
    7.3.2. Castor Oil Meal
    7.3.3. Castor Oil & Derivatives

8. India Castor Seed & Oil Market: Demand Analysis

8.1. Domestic Consumption, by Type
    8.1.1. Castor Seed
    8.1.2. Castor Oil Meal
    8.1.3. Castor Oil & Derivatives
8.2. Domestic Consumption, by End-use
    8.2.1. Cosmetics & Personal Care
    8.2.2. Pharmaceuticals
    8.2.3. Paint Industry
    8.2.4. Lubricants
    8.2.5. Others
8.3. Export/Import Demand
8.4. Castor Seed & Oil Supply Chain Analysis
8.5. India Castor Cost of Production Analysis

9. India Castor Seed & Oil Market: Trade (Export & Import) Analysis

9.1. Castor Seed & Oil Export Trend Analysis
9.2. Top 10 Export Destinations of India Castor Seed & Oil

10. India Castor Seed & Oil Market: Price Trend Analysis

10.1. Domestic Price Trend
10.2. Export Price Trend
10.3. Price Seasonality & Price Pattern Analysis
10.4. Price Events Analysis

11. Competitive Analysis

11.1. India Castor Seed & Oil Market Mapping
    11.1.1. List of Key Countries Importing Castor Seed & Castor Oil from India
    11.1.2. List of Key Companies: Exporters & Importers of Castor Seed & Oil
11.2. Company Profiles
    11.2.1. Jayant Agro-Organics Ltd.
    110.2.2. Adani Wilmar Ltd.
    11.2.3. Gokul Overseas
    11.2.4. Royal Castor Products Ltd.
    11.2.5. Ruchi Soya Industries Ltd.
    11.2.6. Ambuja Solvex Pvt Ltd.
    11.2.7. N.K. Industries Ltd.
    11.2.8. Amee Castor & Derivatives Ltd.
    11.2.9. TGV SRAAC Ltd.
    11.2.10. Gokul Overseas
    11.2.11. Kisan Agro Product Industries
    11.2.12. Shivam Castor Products Pvt. Ltd.

12. Conclusion
13. Appendix

Table 1: India Castor Seed Production Volume (Tonnes) (2010-2030)

Table 2: India Castor Seed Production, Value (Tonnes) (2010-2030)

Table 3: India Castor Production & Area, (2010-2030)

Table 4: India Castor Seed & Oil Market, Demand Volume Details (2015-2025)

Table 5: India Castor Crop Area and Production Analysis, by State (2010-2023)

Table 6: India Castor Seed & Oil Market, By End-use (Volume) (2015-2025)

Table 7: India Castor Seed & Oil Export Trend, by Value (2010-2030)

Table 8: India Castor Seed & Oil Export Trend, by Volume (2010-2030)

Table 9: India Castor Seed & Oil Export Destinations by Volume (in %share) (2015-2023)

Table 10: India Castor Seed & Oil Export Destinations by Value (in %share) (2015-2023)

Table 11: Top 10 Countries Importing Castor Seed & Oil from India, by Value

Table 12: Top 10 Countries Importing Castor Seed & Oil from India, by Volume

Table 13: India Castor Seed & Oil Export Trend, By Type (2010-2030)

Table 14: Top 10 Companies Importing Castor Seed & Oil from India, by Value

Table 15: Top 10 Companies Importing Castor Seed & Oil from India, by Volume

Table 16: India Domestic Castor Seed & Oil Market Price Trend (2010-2030)

Table 17: India Castor Seed & Oil Export Market Price Trend (2010-2023)

Table 18: USA Castor Seed & Oil Import Trend (2010-2023)

Table 19: China Castor Seed & Oil Import Trend (2010-2023)

Table 20: Japan Castor Seed & Oil Import Trend (2010-2023)

Table 21: Industry Recent Developments

Table 22: Key Companies involved in Global Castor Seed & Oil Trade

Figure 1: Castor Crop Seasonality Trend

Figure 2: India Population Dynamics, 2023

Figure 3: India Vegetable Oils Production Trend Analysis

Figure 4: India: GDP Annual Growth & Exchange Rate Trend

Figure 5: Global Castor Seed & Oil Market – An Overview

Figure 6: Global and India Castor Seed & Oil Production Trend Comparison

Figure 7: India Castor Seed & Oil Production Trend, 2010-2030 (Volume)

Figure 8: India Castor Crop Area Trend, 2010-2030 (Volume)

Figure 9: India Castor Crop Area & Production Trend, by State, 2010-2030

Figure 10: India Domestic Consumption of Castor Seed & Oil, 2015-2030 (Volume)

Figure 11: India Domestic Processing of Castor Seed & Oil, 2015-2030 (Volume)

Figure 12: India Castor Seed & Oil Supply Channel Framework

Figure 13: Castor Seed & Oil Product Variants Available in the Market

Figure 14: Global Castor Seed & Oil Production, Volume, 2015-2023

Figure 15: Global Imports of Castor Seed & Oil, Value (USD Million), 2015-2023

Figure 16: India Castor Seed & Oil Export, Value, 2010-2030

Figure 17: India Castor Seed & Oil Export, Volume, 2010-2030

Figure 18: India Castor Seed & Oil Export Destinations Share (by Volume), 2023

Figure 19: India Castor Seed & Oil Export Trend, by Value & Volume, 2010-2030

Figure 20: Top 10 Countries Importing Castor Seed & Oil from India, %share by Value

Figure 21: Top 10 Countries Importing Castor Seed & Oil from India, %share by Volume

Figure 22: USA Imports of Castor Seed & Oil, by Value & Volume (2015-2023)

Figure 23: China Imports of Castor Seed & Oil, by Value & Volume (2015-2023)

Figure 24: Japan Imports of Castor Seed & Oil, by Value & Volume (2015-2023)

Figure 25: India Castor Seed & Oil Price Trend, Annual Average Prices, 2015-2030

Figure 26: India Price Trend, Monthly Average Prices, 2015-2023

To request a free sample copy of this report, please confirm the form below