RICINOLEIC ACID MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2025 - 2032)

Global Ricinoleic Acid Market Size and Forecast – 2025-2032  

The Global Ricinoleic Acid Market is estimated to be valued at USD 2.45 Bn in 2025 and is expected to reach USD 3.75 Bn by 2032, exhibiting a compound annual growth rate (CAGR) of 6.3% from 2025 to 2032.

Key Takeaways of the Ricinoleic Acid Market:

• The optimal grade segment is expected to account for 58.6% of the market share in 2025, driven by its high quality and adaptability across a wide range of applications.
• The castor oil segment is projected to hold 48.7% market share in 2025, owing to its role as the principal source of ricinoleic acid.
• The cosmetics and personal care segment are expected to capture 34.7% of the market share in 2025, serving as a key driver of demand for ricinoleic acid.
• Asia Pacific is set to lead the global ricinoleic acid market in 2025 with a 29.6% share, driven by rapid industrialization, growing demand from the cosmetics and personal care sectors, and abundant availability of castor oil—especially in countries like India and China. North America, with a 11.5% share in 2025, will be the fastest-growing region, fueled by rising health awareness, higher disposable incomes, and increasing adoption of bio-based chemicals in pharmaceuticals and specialty chemical formulations.

Market Overview:

The ricinoleic acid market is witnessing several trends that are shaping its future. One of the key trends is the growing preference for natural and sustainable ingredients in consumer products, which is driving the demand for ricinoleic acid derived from castor oil. Additionally, the increasing focus on research and development activities to explore new applications of ricinoleic acid, such as in the production of biopolymers and lubricants, is expected to create new growth opportunities for the market in the coming years.

Currents Events and their Impact

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Ricinoleic Acid Market Segmental Analysis

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Ricinoleic Acid Market Insights, By Type - Optimal Grade Dominates the Market due to Superior Quality and Versatility

Optimal grade segment is expected to contribute 58.6% share of the market in 2025, owing to its superior quality and versatility in various applications. Optimal grade ricinoleic acid is highly sought after due to its purity, which typically ranges from 80% to 95%. This high purity level ensures consistent performance and reliability in end-use products, making it the preferred choice for manufacturers across different industries.

One of the key factors driving the growth of optimal grade ricinoleic acid is its extensive use in the cosmetics and personal care industry. Its unique properties, such as moisturizing and emollient effects, make it an ideal ingredient in skin care, hair care, and makeup products. The increasing demand for natural and organic cosmetics has further fueled the growth of optimal grade ricinoleic acid, as it is derived from a renewable source and is biodegradable.

Ricinoleic Acid Market Insights, By Source - Castor Oil Dominates the Market as the Primary Source of Ricinoleic Acid

Castor oil segment is projected to contribute 48.7% share of the market in 2025, as it is the primary source of ricinoleic acid. Castor oil is derived from the seeds of the castor plant (Ricinus communis), which is widely cultivated in tropical and subtropical regions. The high content of ricinoleic acid in castor oil, ranging from 85% to 95%, makes it the most economical and sustainable source of this valuable fatty acid.

The dominance of castor oil in the ricinoleic acid market can be attributed to several factors. Firstly, castor oil is a renewable and biodegradable resource, making it an environment-friendly choice for the production of ricinoleic acid. The growing emphasis on sustainability and the increasing demand for bio-based products have significantly driven the growth of castor oil as the primary source of ricinoleic acid.

Ricinoleic Acid Market Insights, By Application - Cosmetics and Personal Care Industry Drives the Demand for Ricinoleic Acid

Cosmetics and personal care segment are projected to contribute 34.7% share of the market in 2025, driving the demand for ricinoleic acid. the growing consumer awareness regarding the benefits of natural and organic ingredients in cosmetics has significantly fueled the demand for Ricinoleic Acid in this segment. Consumers are increasingly seeking products that are free from harmful chemicals and are derived from renewable sources.

Regional Insights

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Asia Pacific Ricinoleic Acid Market Analysis and Trends

The Asia Pacific region is projected to lead the market with a 29.6% share in 2025, driven by a combination of expanding industrial base, abundant raw material availability, and increasing demand from end-use industries. Countries such as China and India play a pivotal role due to their large-scale castor oil production, which serves as the primary raw material for ricinoleic acid.

Additionally, the region benefits from lower manufacturing costs, favorable government policies supporting industrial growth, and rising investments in chemical processing infrastructure. The growing emphasis on bio-based and sustainable chemical alternatives, coupled with increasing demand from sectors such as cosmetics, lubricants, and pharmaceuticals, has significantly contributed to the market’s expansion in Asia Pacific.

North America Ricinoleic Acid Market Analysis and Trends

The North America region is expected to exhibit the fastest growth in the market contributing 11.5% share in 2025. The region is experiencing increasing demand for bio-based and sustainable chemical ingredients across various industries, including personal care, pharmaceuticals, and industrial lubricants. The U.S., in particular, is witnessing heightened adoption of ricinoleic acid due to growing consumer awareness about eco-friendly products and stringent environmental regulations encouraging the shift away from petrochemical-based inputs.

Global Ricinoleic Acid Market Outlook for Key Countries:

U.S. Ricinoleic Acid Market Trends

The U.S. ricinoleic acid market is characterized by a strong emphasis on research and development, with major players focusing on product innovation and new applications. The country's well-established chemical industry and supportive government policies have created a conducive environment for the growth of the ricinoleic acid market. Key players. such as Univar Solutions, as a global chemical and ingredient distributor, offers a range of specialty chemicals, including ricinoleic acid. The company collaborates with manufacturers to develop innovative solutions tailored to various industries such as personal care, pharmaceuticals, and industrial applications.

China Ricinoleic Acid Market Trends

China ricinoleic acid market has been witnessing significant growth, driven by the country's rapid industrialization and increasing demand from end-use industries. The government's focus on promoting bio-based and sustainable products has further propelled the adoption of ricinoleic acid. Local companies like TCI (Shanghai) Development Co. have been expanding their production capabilities to meet the growing domestic demand, while also exploring export opportunities.

Germany Ricinoleic Acid Market Trends

Germany continues to lead the European market for ricinoleic acid, with a strong emphasis on sustainability and eco-friendly products. The country's advanced technological capabilities and stringent quality standards have positioned it as a key player in the global market. German companies have been at the forefront of developing innovative ricinoleic acid derivatives and exploring new application areas, such as bio-based lubricants and polymers.

One notable contributor is Evonik Industries, which has actively invested in research and development of high-performance castor oil derivatives. The company has introduced sustainable solutions for the cosmetics and specialty chemicals sectors, leveraging ricinoleic acid to create value-added, bio-based alternatives that meet both performance and environmental criteria.

India Ricinoleic Acid Market Trends

India ricinoleic acid market has been experiencing steady growth, supported by the country's vast agricultural resources and expanding chemical industry. The government's initiatives to promote the cultivation of castor crops and the development of the chemical sector have positively impacted the ricinoleic acid market. Indian companies, such as NK Industries, have been focusing on expanding their production capacities and establishing global partnerships to cater to the increasing demand from domestic and international markets.

Price and Cost Analysis:

• Price Trends (2023–2024): In 2024, ricinoleic acid prices were directly affected by fluctuations in castor oil costs. Early in the year, prices were stable, but they declined in Q2 as upstream costs fell. However, mid-year saw price increases due to supply chain disruptions and higher demand from end-use industries.
• Raw Material Costs: Castor oil is the primary feedstock. Its price volatility, influenced by crop yields, weather, and geopolitical events, directly impacts ricinoleic acid production costs.
• Production and Logistics: Supply chain disruptions, such as those caused by geopolitical tensions (e.g., the Israel-Hamas war) and regulatory changes (e.g., European restrictions on Russian imports), have led to cost increases.
• Regional Factors: Asia Pacific is the largest market, benefiting from proximity to castor bean cultivation and lower production costs. Europe’s market is growing due to regulatory support for bio-based chemicals, but faces higher compliance and import costs.

Market Players, Key Development, and Competitive Intelligence

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Company Insights:

• Acme Synthetic Chemicals is a manufacturer, supplier, and exporter specializing in Ricinoleic Acid and its derivatives. Its offerings in the ricinoleic acid market include: Ricinoleic Acid (CAS No. 141-22-0) Condensed Ricinoleic Acid, etc.
• Kavya Pharma is a manufacturer, exporter, and supplier of ricinoleic acid, a key castor oil derivative. Its ricinoleic acid (CAS No: 141-22-0) is available. Kavya Pharma is positioned as a leading and well-established supplier in the ricinoleic acid market, serving both domestic and international clients. The company is based in Gujarat, India, and has a reputation for supplying pharmaceutical raw materials, industrial and specialty chemicals, and castor oil derivatives.
• NK Industries Ltd., headquartered in Ahmedabad, India, is a prominent manufacturer and exporter of castor oil and its derivatives, including ricinoleic acid. With a monthly castor seed crushing capacity of approximately 27,000 metric tons, the company plays a significant role in the global ricinoleic acid market. NK Industries produces ricinoleic acid (RA) by hydrolyzing castor oil, resulting in a clear, viscous, and yellowish liquid.
• Runzoer India, based in Gandhinagar, Gujarat, is a manufacturer and supplier specializing in castor oil and its derivatives, including ricinoleic acid. The company has quickly positioned itself as a reliable source for high-purity ricinoleic acid in the Indian market. Runzoer India offers ricinoleic acid with a purity of 99%, priced between INR 100 and INR 1,000 per kilogram, depending on order volume and specifications. The company caters to both domestic and international markets, excluding Gujarat for domestic sales.

Top Strategies Followed by Global Ricinoleic Acid Market Players

• Established players in the global ricinoleic acid market are focusing on extensive research and development to innovate high-performance products. These companies are investing heavily in R&D to develop new formulations and improve existing products to meet the evolving needs of various industries. By prioritizing innovation, these players aim to stay ahead of the competition and maintain their market leadership.
  • For instance, Jayant Agro-Organics, one of the world’s largest castor oil and derivative producers, is expanding its R&D center in Gujarat to develop eco-friendly and high-purity ricinoleic acid formulations for cosmetic and polymer applications

• Mid-level players in the ricinoleic acid market are focusing on delivering cost-effective solutions to target price-sensitive consumers. These companies are developing quality products that offer value for money, enabling them to capture a significant market share in price-conscious segments.
  • For example, Adani Wilmar is reportedly working with domestic formulation companies to co-develop lubricant intermediates and value-added derivatives like estolides from ricinoleic acid for industrial clients in India and South Asia.

• Small-scale manufacturers, such as Bom Brazil and Yash Chemicals (India), are adopting niche specialization to serve highly focused markets.
  • For example, Kokum Oils Pvt. Ltd. has implemented IoT-based process control systems to optimize batch quality and reduce waste in ricinoleic acid ester production.

Market Report Scope

Ricinoleic Acid Market Dynamics

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Ricinoleic Acid Market Driver - Increasing demand for natural and sustainable ingredients

The global ricinoleic acid market is experiencing a significant driver in the form of increasing demand for natural and sustainable ingredients across various industries. Consumers are becoming more conscious about the products they use and are actively seeking out eco-friendly and naturally derived components. Ricinoleic acid, being a natural compound extracted from castor oil derivatives, perfectly aligns with this growing trend.

This shift in consumer preferences has led to a surge in demand for plant-based and biodegradable materials, such as ricinoleic acid, which is derived from castor oil. The International Castor Oil Association (ICOA) reported in April 2024, that global castor oil production reached between January 1st and March 31^st, around 2.35 lakh metric tons of castor oil and its derivatives were exported globally. To support this demand, approximately 5.55 lakh metric tons of castor seeds were crushed. As of April 1st, an estimated 15.17 lakh metric tons of castor seeds remain available for crushing to meet the ongoing needs of the castor oil industry.

Ricinoleic Acid Market Opportunity - Expanding use in bio-lubricants and green chemistry

The expanding use of ricinoleic acid in bio-lubricants and green chemistry presents a significant opportunity for the global ricinoleic acid market. As industries and consumers become increasingly environmentally conscious, the demand for sustainable and biodegradable products is on the rise. Ricinoleic acid, with its unique chemical properties and renewable nature, is well-positioned to cater to this growing trend.

Bio-lubricants based on ricinoleic acid offer several advantages over traditional petroleum-based lubricants. They have excellent lubricity, high viscosity index, and superior biodegradability, making them an attractive choice for various industrial and automotive applications. For instance, the United States Department of Agriculture (USDA) has been actively promoting the use of bio-based products, including bio-lubricants, through its Bio Preferred Program. In 2021, the program reported that the use of bio-based lubricants in the U.S. had increased by 18% compared to the previous year, demonstrating the growing adoption of these sustainable alternatives.

Analyst Opinion (Expert Opinion)

• The global ricinoleic acid market is poised for robust growth, driven by the rising demand for bio-based chemicals and sustainable alternatives in various industries, including cosmetics, pharmaceuticals, and lubricants. Companies like Maranatha are leading innovations in the extraction and application of ricinoleic acid, capitalizing on its multifunctional properties. Recent conferences, such as the International Conference on Bio-Based Materials (2022) and the European Bioplastics Conference (2023), have provided critical platforms for stakeholders to discuss advancements in production techniques and market trends.
• These gatherings emphasize the increasing shift towards eco-friendly formulations and the importance of regulatory compliance in promoting bio-based products. As consumer awareness of sustainability grows, the ricinoleic acid market is likely to see accelerated expansion, driven by innovations that meet both environmental goals and industry demands for high-performance ingredients.

Market Segmentation

•  Type Insights (Revenue, USD Bn, 2020 - 2032)
• • Optimal Grade
  • Industrial Grade
•  Source Insights (Revenue, USD Bn, 2020 - 2032)
• • Castor Oil
  • Synthetic Sources
•  Application Insights (Revenue, USD Bn, 2020 - 2032)
• • Cosmetics and Personal Care
  • Pharmaceuticals
  • Lubricants & Greases
  • Food Industry
  • Others
• Regional Insights (Revenue, USD Bn, 2020 - 2032)
• • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • North Africa
    • Central Africa
• Key Players Insights
• • Tokyo Chemical Industry Co. Ltd.
  • UNIVAR SOLUTIONS
  • Fisher Scientific
  • Acme-Hardesty Company
  • JAYANT AGRO-ORGANICS LIMITED
  • Gokul Agro Resource
  • NK Industries
  • Parchem fine & specialty chemicals
  • Biomol GmbH
  • Cayman Chemical
  • acme synthetic chemicals
  • Kavya Pharma
  • Runzoer India

Sources:

Primary Research Interviews:

• Production Manager – Castor Oil Derivatives Manufacturer
• Procurement Head – Bio-based Specialty Chemicals Company
• R&D Head – Natural Emollient Supplier to Cosmetic Brands
• Compliance Officer – Sustainable Chemical Ingredient Certifier

Stakeholders:

• Manufacturers
• End-use Sectors:
• Personal Care & Cosmetics (Moisturizers, Hair Conditioners, Lip Products)
• Pharmaceutical Industry (Topical creams, laxatives, excipients)
• Lubricants & Greases (Industrial and automotive applications)
• Plastics & Polymers (Plasticizers, bio-based polymers)
• Regulatory & Certification Bodies – FDA, ECHA, REACH-compliance bodies
• Distributors & Traders – Ingredient wholesalers and B2B e-commerce platforms
• Technology Enablers – Companies providing sustainable processing tech for ricinoleic derivatives.

Databases:

• UN Comtrade Database – Castor oil and ricinoleic acid derivative export-import statistics
• India Import Export (EXIM) Database – Key exporter/importer trade routes for castor oil derivatives

Magazines:

• Chemical Weekly – Oleochemical feedstocks and market updates
• Cosmetics & Toiletries – Emollients and fatty acid application trends
• Happi Magazine – Natural ingredient innovation and consumer demand in personal care
• Biofuels Digest – Castor oil use in bio-based lubricants and industrial chemicals
• Specialty Chemicals Magazine – Trends in green solvents and polymer additives

Journals:

• Industrial Crops and Products – Castor oil applications and derivative processing
• Journal of the American Oil Chemists’ Society – Ricinoleic acid properties and refinements
• Sustainable Chemistry and Pharmacy – Green alternatives to petroleum-based emollients
• Journal of Applied Polymer Science – Ricinoleic acid use in polymer plasticization
• Pharmaceutical Biology – Ricinoleic acid’s anti-inflammatory and topical use cases

Newspapers

• Business Standard – India’s castor oil export trends and derivatives growth
• Chemical & Engineering News – Fatty acid innovations and sustainability shift
• Mint – Organic chemical markets and raw material pricing insights
• The Economic Times – Indian chemical production capacities and demand forecasts
• Global Cosmetic Industry – Use of fatty acid derivatives in clean beauty

Associations:

• Indian Castor Seed and Oil Export Promotion Council
• International Castor Oil Association (ICOA)
• Personal Care Products Council
• Clean Beauty Alliance
• Bio-Based Chemicals Association
• Cosmetic Ingredient Review (CIR)

Public Domain Sources

• EU Commission – Ricinoleic acid classification and use in cosmetics (EC Regulation 1223/2009)
• U.S. FDA – GRAS status for ricinoleic acid in topical and pharmaceutical use
• OECD – Sustainable oleochemical production frameworks
• ECHA – Substance dossier for 12-hydroxy-9-octadecenoic acid (ricinoleic acid)
• UNEP – Green alternatives to fossil-derived specialty chemicals

Proprietary Elements:

• CMI Data Analytics Tool, Proprietary CMI Existing Repository of information for last 8 years.