Argan Oil Market: Global Industry Analysis And Forecast (2022-2029)

Argan Oil Market size was valued at US$ 312.13Mn in 2021 and the total Argan Oilrevenue is expected to grow at 9.8% from 2022 to 2029, reaching nearly US$ 659.41 Mn.
Argan Oil Market Overview:
Argan oil is extracted from the kernels of argan trees endemic to Morocco. It is most commonly offered as pure oil, which may be used topically (directly to the skin) or consumed to give a variety of health advantages. It is available as a supplement medication to be taken orally. It is also often found in a variety of cosmetic items including shampoos, conditioners, and soaps.Argan oil has consistently been used to enhance the health of skin, hair, and nails, both topically and orally. It has a variety of therapeutic compounds and vitamins that work together to improve skin health.



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The report explores the Argan Oil market's segments (Type, Form, Application, Distribution Channel, and Region). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). It provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2017 to 2020. The report investigates the Argan Oil market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Argan Oil market's contemporary competitive scenario.
Argan Oil Market Dynamics:
Growing beauty awareness among consumers drives market growth.

Increasing beauty awareness among consumers, as well as the utilization of argan oil in many products by cosmetic manufacturers, are driving the global argan oil market. Argan oil is categorized into two varieties based on the extraction process: culinary argan oil and cosmetic argan oil. Culinary argan oil is used in cooking and has a strong nutty flavor, whilst cosmetic argan oil does not. Argan oil has notable uses in the culinary industry, medicines and nutraceuticals, and personal care goods.

The growing use of Argan Oil in the personal care and cosmetic industry is a major driver for the Argan Oil market.

Argan oil is utilized as an active component in the personal care and cosmetic industries. Because of its anti-aging effects, the substance is gaining popularity in a variety of cosmetic formulations such as serums, lip balms, lipsticks, face oils, and so on. Cosmetic product lines based on argan oil have been produced by industry leaders like L'Oréal, Lakmé, and Sephora. The rising popularity of natural and organic ingredients of argan oil is expected to drive demand for argan oil in cosmetic products.

The deforestation of Argan Trees in Morocco is a major restraint for the market.

Argan oil, which is extracted by crushing the kernels found within the argan fruit, has long been used as a natural medicine in Morocco. UNESCO has designated the country's 2.5 million hectares of argan forests as a biosphere reserve. Because deep-rooted trees minimize soil erosion and preserve water resources. Deforestation recently affected the trees since they were chopped down for building materials and firewood.Morocco is expected to have difficulties satisfyingthe rising demand for argan trees due to a scarcity of argan trees in the nation, as well as rising domestic product use. These reasons are expected to restrain the market growth during the forecast year.
Argan Oil Market Segment Analysis:
By Type Segment, the Natural Argan Oil segment is expected to dominate the Argan Oil Market at the end of the forecast period.After 60 days, topical use of natural argan oil in postmenopausal women resulted in a considerable improvement in skin elasticity. This impact was increased further by the oral use of argan oil by half of the participants. While the results are intriguing, they are hampered by the lack of a placebo control group.

The organic segment is expected to gain significant market share at the end of the forecast period. Organic argan oil is one of the purest types of oil, which is often used in aromatherapy. To boost crop productivity, organic argan oil harvesters employ bio-based fertilizers such as bone meal, green manure, and compost manure. This kind is marketed as a premium item and is gaining popularity among multinational cosmetics brands.

By Form Segment, Absolute Argan Oil Form is expected to dominate the global Argan oil market at the end of the forecast period. The absolute form of argan oil is a concentrated form derived from plant kernels via solvent extraction procedures. This type is created by pulverizing the kernels and then suspending them in solvents before vaporizing the solvents to produce the oil. The absolute form is used in fragrance, aromatherapy, cosmetic applications, and many others.

The blended form contains argan oil, veggies, and essential oils. The blended form is commonly employed in culinary recipes, cleaning, and household product compositions. Moroccan customers have a strong preference for locally made goods. This segment's growth is expected to be driven by increased consumer demand for blends in topical applications, as well as rising consumption of argan oil blends in the cosmetics sector, throughout the forecast period.

By Applications segment, Aromatherapy massage is anticipated to dominate the market of argan oil at the end of the forecast period. This Aromatherapy massage is well-known for its multiple advantages. It helps to harmonize, balance, and calm both the mind and the body. Additionally, it strengthens the immune system, assisting numerous biological activities and fighting infections. Argan oil is also commercially available in food and beauty products. Culinary oil is a food-grade product that varies from cosmetic grade in terms of manufacturing methods. To make culinary oil, the kernels are toasted to provide a nutty scent and flavor.
Argan Oil Market Regional Insights:
The North American region is expected to dominate the Argan Oil Market at the end of the forecast period.Aromatherapy massage helps to balance body functions, reduces stress, and aids numerous bodily processes in battling illnesses.Aromatherapy healing with the product promotes the health of the body, mind, and spirits.North America has turned into a significant argan oil user because of the wide use of personal care and cosmetic products along with the widely used Aromatherapy massage (the use of natural ingredients for therapeutic reasons). These massages have grown popular in North America and are readily accessible in specialty stores and online shopping malls. However, North America dominates the food additives market and will maintain its dominance throughout the forecast period due to rising cosmetic industry demand and the presence of significant key players in this region.



The Asia Pacific is growing as a lucrative market for organic personal care and cosmetics products globally. China is the region's largest market, followed by India and Japan. Because of the presence of powerful local manufacturers such as Aurobindo Pharma, Sun Pharma, and Lupin, India is one of the most preferred nations for making low-cost medications. Argan oil manufacturers in the region are anticipated to earn from the development of novel organic medications for cancer, cardiovascular health, hormone problems, gastrointestinal disorders, anti-infective, anti-aging, and stress reduction.

In the personal care and cosmetics industry, Europe holds the biggest market share. In the European region, cosmetic goods are mostly made through solvent extraction of kernels and are mostly used to make moisturizers, shampoos, and anti-wrinkle cosmetic treatments. Moreover, Europe has been primarily active in biopharmaceutical research. European pharmaceutical firms have developed organic treatments for a variety of disorders including cancer, high blood pressure, diabetes, and cardiovascular disease.

Additionally, the presence of high-performance ingredients such as vitamin E, omega 6, omega 3, lupeol, and tocopherols in argan oil is driving the growth and importance of the US argan oil market. These chemicals serve to stimulate cell development and boost the human body's anti-inflammatory and antibacterial properties.

The objective of the report is to present a comprehensive analysis of the Argan Oil market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Argan Oil market dynamics, and structure by analyzing the market segments and projecting the Argan Oil market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Argan Oil market make the report investor’s guide.
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Global Argan Oil Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 312.13 Mn.


Forecast Period 2022 to 2029 CAGR:
9.8 %
Market Size in 2029:
US $ 659.41Mn.


 Segments Covered:
by Type
• Natural
• Organic


by form
• Absolute
• Concentrates
• Blends
• Others


by Application
• Therapeutics
• Aromatherapy
• Food & Beverages
• Cosmetics& Personal Care
• Medical
• Cleaning and Home
• Others


by distribution channel
• B2B
• B2C



Argan Oil Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Argan Oil Market Key Players
• OLVEA Morocco
• ARGANisme Cosmetics S.A.R.L
• Zineglo
• Saadia Organics
• Essence Of Argan
• Biopur
• Argan Diva
• Josie Maran Cosmetics
• Argan Liquid Gold
• NadifiArgan
• SidiYassine
• Marogonia
• VimaSouss, Malak Bio
• Amorre
• BioAdorates
• Zineglob
• Mabioma

FAQs:

1. Which is the potential market for the Argan Oil in terms of the region?
Ans.The North American region is the potential market for the Argan oil in terms of the region.

2. What are the opportunities for new market entrants?
Ans. The key opportunity in the market is the growing use of Argan Oil in the personal care and cosmetic industry.

3. What is expected to drive the growth of the Argan Oil market in the forecast period?
Ans.A major driver in the Argan Oil market is growing beauty awareness among consumers.

4. What is the projected market size & growth rate of the Argan Oil Market?
Ans.Argan Oil Market size was valued at US$ 312.13 Mn. in 2021 and the total Argan Oil revenue is expected to grow at 9.8% from 2022 to 2029, reaching nearly US$ 659.41 Mn.

5. What segments are covered in the Argan Oil Market report?
Ans. The segments covered are Type, Form, Application, Distribution Channel, and Region.