Argan Oil Market: Global Size, Share, Trends, Growth and Forecast, 2022-2032
Argan Oil Market: Overview and Definition
Argan oil is a plant-based oil that is extracted from the kernels of the argan tree, which is native to Morocco. The oil is rich in nutrients, including fatty acids, antioxidants, and vitamin E, and has a wide range of applications in the cosmetics, food, and pharmaceutical industries.
Argan oil has been used for centuries by the Berber people of Morocco for its cosmetic and medicinal properties. In recent years, the oil has gained popularity in the global market due to its potential health and beauty benefits.
The global argan oil market is driven by the increasing demand for natural and organic beauty products, as well as the growing awareness of the health benefits of argan oil. Argan oil is commonly used in cosmetics and personal care products, such as moisturizers, hair care products, and lip balms, due to its moisturizing and nourishing properties.
In addition to its cosmetic uses, argan oil is also used in the food industry as a healthy cooking oil and in the production of food supplements. The oil is believed to have potential health benefits, such as reducing inflammation and improving heart health.
The growing demand for natural and organic products, as well as the increasing interest in alternative health and wellness solutions, is expected to drive the growth of the global argan oil market in the coming years. However, the limited supply of argan oil and the high cost of production may limit the growth of the market in some regions.
The Argan Oil market is expected to mask a CAGR of XX% during the projected period. Further, the market was calculated at USD XXXX billion in 2019 and is anticipated to reach a valuation of USD XXXX billion by the end of the forecast period. Argan oil is a natural product produced from the nut of the argan tree, which only grows in Southwestern Morocco. It contains fatty acids and antioxidants including vitamin E, (35-40%) linoleic acid which reduces inflammation, (42–48%) oleic acid for skin’s permeability and polyphenols.
Growth Drivers and Restraints
Growth in the aging population worldwide and an increasing number of cases of skin diseases & hair fall problems due to environmental pollution leads to the demand for argan oil in the market. The growing ease in availability of argan oil products would further intensify the growth of the argan oil market worldwide.
Moreover, the consumer preference for healthy food is anticipated to boost up the argan oil market growth across the globe. As, argan oil has been found to control cholesterol levels and helps in heart ailments, lower metabolism, and vitamin & mineral deficiency, such benefits are also encouraging consumers to adopt argan oil. Besides this, a large number of customers are becoming aware and are willing to spend more money on skincare products such as argan oil product is augmenting the use of argan oil in beauty cosmetic industry across the globe. The argan oil products are available in the market in various form such as, hydrating toner, brightening face masks, exfoliating lip scrub, moisturizer, conditioner, hair oil and others which leads the demand for argan oil.
Further, the growing demand for argan oil in medical treatments of various diseases such as cancer, arthritis, obesity, acne and other skin ailments are the major factors that are influencing the growth of argan oil market. In terms of region, the Middle East & Africa dominated the argan oil market as the rural economy of this region, especially in Morocco depends upon the argan production. However, the easy availability of alternative argan oil such as olive oils, and others across the world is anticipated to impact the demand for argan oil negatively over the next few years.
The research offers a comprehensive analysis of argan oil market with respect to following sub-markets:
By Product Type
- Hair Oil
- Vegetable oils
By Distribution Channel
- Convenience Store
- Beauty Salon
- Online store
North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)
The report profiles various major market players such as:
- Saadia Organics
- OLVEA Morocco
- ARGANisme Cosmetics
- Essence of Argan
- Argan Diva
- Josie Maran Cosmetics
- Argan Liquid Gold
- Nadifi Argan
- Other Prominent Players
Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as technology information, revenue breakup by segment and by geography, SWOT Analysis, risk analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development expansion and other market activities.
The study also provides company’s positioning and market share in Argan Oil market.
Timeline Considered for Analysis:
- 2019- Base Year
- 2020 – Estimated Year
- 2020 to 2025 – Forecasted Year
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the argan oil market by the following segments:
- By Product Type
- By End-User
- By Distribution Channel
Geographic Market Analysis:
The report offers separate analysis of North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
In addition, further breakdown of market data and analysis of region into countries is covered in the report.
Key Questions Answered in the Argan Oil Market Industry Report
- What is the overall market size in 2019? What will be the market growth during the forecast period i.e. 2020-2025?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?