세계의 피마자유(Castor Oil) 시장 규모는 2022년 13억 5,000만 달러에서 2030년까지 19억 8,000만 달러에 달할 것으로 예상되며, 2023-2030년 예측 기간에 CAGR로 4.9%로 추이하며 성장 할 것으로 전망되고 있습니다. 소비자의 선호가 변화해 식물 유래의 화장품 원료로 동향이 옮겨가는 가운데, 피마자유는 향후 수년간에 수요가 높아질 것으로 예측됩니다. 또한, 피마자유는 바이오디젤 및 기타 바이오기반 제품의 제조에 많이 사용되고 있으며, 재생가능 에너지원으로서 보급이 진행될 것으로 예측됩니다. 피마자유는 그 특성상 폭넓은 용도가 있어, 변하는 소비자나 업계 동향에 적응할 수 있기 때문에 공급 체인의 혼란이나 지정학적 불확실성 등의 외부 요인에 강한 제품입니다.
인도는 피마자유 생산의 세계 리더입니다. 2021년-2022년에 160만톤의 피마자유가 생산되어 2022년-2023년에 15% 증가한 190만톤에 달했습니다. 수확량의 향상은 제작 면적 증가와 수리의 개선에 기인하고 있습니다. 또한 인도는 현재 2018년보다 많은 피마자유를 수출하고 있으며 54만 7,000톤에서 2021년에 68만 5,000톤을 넘어 세계 공급의 90% 가까이를 차지하고 있습니다. 그러나 인도 생산자와 수출업체는 피마자 제품의 거의 독점적인 생산자임에도 불구하고 다양한 내부 및 외부 위험으로 인해 가격 변동에 자주 노출됩니다. 이는 가격 위험 관리의 필요성을 돋보이게합니다.
해바라기 기름은 더 건강한 생활을 추구하는 세계적인 움직임의 일부로 소비자가 천연 제품과 유기농 제품을 선호하기 때문에 점점 인기가 높아지고 있습니다. 피마자유에 대한 수요는 특히 화장품 및 퍼스널케어 제품에서 소비자가 화학제품을 포함하지 않는 대체품의 이점을 더 의식하게 됨에 따라 증가하고 있습니다. 식물 유래의 지속 가능한 대용품이며, 그 천연의 성질로 알려진 피마자유는 화장품의 원료로서 인기가 높아지고 있습니다. 피마자유은 환경 친화적이고 다재다능성이 높기 때문에 제품 성분의 투명성을 중시하는 소비자에게 요구됩니다. 이는 깨끗하고 유기적인 라이프 스타일을 채택하는 사람들 증가 추세와 일치합니다.
피마자유는 재생가능한 자원으로 알려져 왔으며, 이는 세계적인 지속가능성에 대한 움직임과 일치합니다. 바이오 제품에 대한 소비자의 인지와 선호로 인해 다양한 용도에서 피마자유에 대한 수요가 증가하고 있습니다. 신재생에너지산업을 지원하는 바이오디젤 생산의 원료로서의 이용은 중요한 용도의 하나입니다. 해바라기 기름은 매우 다재다능하고 환경 친화적인 솔루션이므로 각국이 더 깨끗하고 환경 친화적 인 에너지 원의 목표를 달성하는 데 도움이 됩니다. 또한 세계의 재생가능에너지에 대한 노력과 바이오기반 제품 개발의 진행에 있어서도 중요한 역할을 하고 있습니다.
2023년 7월 Evogene Ltd.의 자회사인 Casterra Ag Ltd.는 아프리카에 220만 달러 상당의 피마자 씨앗을 공급한다고 발표했습니다. 이 피마자 씨앗은 지속 가능한 바이오연료용 오일을 생산하는 데 사용됩니다.
COVID-19 팬데믹은 피마자유 시장에 큰 영향을 주었고 도전과 기회를 모두 가져왔습니다. 초기 세계 공급망의 혼란과 경기 침체는 산업 활동의 감소를 초래하여 화학 및 제조와 같은 부문에서 피마자유 수요에 영향을 미쳤습니다. 락다운과 규제는 농업 활동을 방해하고 피마자유의 재배와 생산에 영향을 미쳤습니다. 그러나 유행에 의한 건강과 웰빙에 대한 관심은 피마자유을 포함한 의약품과 개인 관리 부문에서 천연 유기농 제품에 대한 수요를 촉진했습니다. 전 세계가 뉴노멀에 적응하면서 피마자유 시장은 다양한 응용 분야와 바이오 기반 특성에 대한 인식이 높아지고 다양한 산업에서 지속 가능하고 친환경적인 솔루션에 대한 강조가 증가함에 따라 부활을 목격하고 있습니다. COVID-19 이후 시대는 소비자 선호도가 변화하고 글로벌 경제 활동이 재개되는 가운데 피마자유 시장이 반등하고 번창할 수 있는 기회를 제공합니다.
세계의 피마자유(Castor Oil) 시장에 대해 조사 분석했으며, 시장 규모 및 예측/시장 역학/주요 기업 현황 및 전망 등을 제공합니다.
Global castor oil market size was valued at USD 1.35 billion in 2022, expected to reach USD 1.98 billion in 2030, with a CAGR of 4.9% for the forecast period between 2023 and 2030. With changing consumer preferences and shifting trends toward plant-based cosmetic ingredients, castor oil is expected to witness higher demand in the coming years. Additionally, castor oil is highly used to make biodiesel and other biobased products and is expected to become more prevalent as a renewable energy source. With its properties, castor oil has a wide range of uses and can adapt to shifting consumer and industrial trends, it is a product resistant to external factors such as supply chain disruptions and geopolitical uncertainty.
The therapeutic approach of castor oil is also creating a demand from the pharmaceutical industry. Castor oil's acute impact extends into the pharmaceutical industry, where its versatile properties are harnessed for medicinal purposes. Renowned for its therapeutic qualities, castor oil is a key ingredient in pharmaceutical laxatives, offering a natural remedy with time-tested effectiveness. Embraced for its dual role in promoting health and enhancing overall wellbeing, castor oil remains a versatile cornerstone in pharmaceutical sector.
India is the global leader in castor oil production. During 2021-2022, 1.6 million tons of castor oil was produced in the country, which increased by 15% to reach 1.9 million tons in 2022-2023. The improved yields can be attributed to higher acreage and better water availability. Furthermore, India now exports more castor oil than in 2018, from 547,000 tonnes to over 685,000 tonnes in 2021, nearly 90% of the global supply. However, Indian growers and exporters are frequently exposed to price volatility due to various internal and external risks, despite being near-monopoly producers of Castor products. This highlights the need for price risk management.
Castor oil is becoming increasingly popular due to consumers' preference for natural and organic products as part of a global movement towards healthier living. Castor oil demand is rising, particularly in cosmetics and personal care products, as consumers become more conscious of the advantages of chemical-free alternatives. Being a plant-based sustainable substitute and known for its natural qualities, Castor oil is becoming a popular ingredient in cosmetic products known for its natural qualities. Castor oil's eco-friendliness and versatility make it a sought-after option for consumers who value transparency in product ingredients. This aligns with the growing trend of people adopting clean and organic lifestyles.
For instance, Sugar Beauty showed the properties of castor oil as it is well known for strengthening and moisturizing the hair and is also known for treating thin brows and sparse lashes. Further, it is stated that it contains a rich combination of proteins, fatty acids, and antioxidants derived from castor beans that provides a shining feel in skincare, haircare, and cosmetics. Through its properties, it has created a major position as it acts like a moisturizer to the skin and has anti-inflammatory and antibacterial properties that can help the skin, hairs and scalp.
In the chemical industry, castor oil is essential because it is a flexible raw material that can be used to create important compounds. Its contributions include synthesizing derivatives like polyesters and polyamides and important chemicals like undecylenic acid and sebacic acid. Castor oil has unique qualities that make it a valuable lubricant in high-performance machinery, in addition to its chemical applications. Castor oil is superior to conventional lubricants due to its high viscosity and heat resistance, making it useful in demanding operating conditions. This dual use in industrial lubrication and chemical synthesis highlights the importance of castor oil as a multipurpose resource that enhances the effectiveness and functionality of various industrial processes.
For instance, castor oil is one of the world's most versatile oilseeds that is used in multiple industries. The by-products of castor oil are used in more than 700 products, ranging from nylon to polyester to pharmaceutical, cosmetic, and high-performance castor oil. It has a major use in the industrial sector. Furthermore, it is seen that India is the world leader in castor oil production as it accounts for over 75% of the global production and 90% of exports, with an annual output of 3,50,000 to ns. In addition, when it comes to processing castor oil, China and Brazil are slowing down behind India; their share of the global output is 5% and 12%, respectively.
Castor oil is becoming more well-known as a renewable resource, which is in line with the movement toward sustainability on a global scale. The demand for castor oil in various applications has increased due to consumer awareness of and preference for bio-based products. Its use as a feedstock for biodiesel production, which supports the renewable energy industry, is one significant application. Castor oil is a highly versatile and environmentally friendly solution that can help nations achieve their goals of cleaner, greener energy sources. It also plays a significant role in the global advancement of renewable energy initiatives and the development of bio-based products.
In July 2023, Casterra Ag Ltd., a subsidiary of Evogene Ltd. announced to supply castor seeds worth USD 2.2 million to African territories. These castor seeds are to be used for producing oil for sustainable biofuel.
The COVID-19 pandemic has significantly impacted the castor oil market, introducing both challenges and opportunities. The initial disruption in global supply chains and economic downturns led to a decrease in industrial activities, affecting the demand for castor oil in sectors such as chemicals and manufacturing. Lockdowns and restrictions also hindered agricultural operations, impacting castor bean cultivation and oil production. However, the pandemic-induced focus on health and wellness has propelled the demand for natural and organic products in the pharmaceutical and personal care sectors, including those containing castor oil. As the world adapts to the new normal, the castor oil market is witnessing a resurgence, driven by the growing awareness of its diverse applications, bio-based nature, and the increasing emphasis on sustainable and eco-friendly solutions in various industries. The post-COVID-19 era presents an opportunity for the castor oil market to rebound and thrive amidst evolving consumer preferences and renewed global economic activities.
The castor oil market is characterized by key players contributing significantly to its growth and development. Prominent companies such as Jayant Agro-Organics Limited, ITOH OIL CHEMICALS CO., LTD., and Gokulrefoil play pivotal roles in producing, processing, and distributing castor oil globally. To maintain a competitive edge, these key players actively engage in strategic initiatives, including research and development, product innovation, and geographical expansion. The outlook for the castor oil market is optimistic, with increasing demand across various industries, such as pharmaceuticals, cosmetics, and chemicals.
As the market embraces sustainability and bio-based solutions, key players will likely explore opportunities in renewable energy applications, such as biodiesel production. Collaboration with regional partners, adherence to quality standards, and a focus on meeting the rising consumer demand for natural and organic products are anticipated to shape the future landscape of the castor oil market.
For instance , BASF SE in 2022, became the first manufacturing company that successfully completed the certification process conducted by SuCCESS (Sustainable Castor Caring for Environmental and Social Standards) Code, which resulted in making BASF SE as a global leader in the castor oil market.
All segments will be provided for all regions and countries covered:
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.