According to Custom Market Insights (CMI), The Global Argan Oil Market was estimated at USD 300 million in 2021 and is anticipated to reach around USD 750 million by 2030, growing at a CAGR of roughly 10% between 2022 and 2030.
Our research report offers a 360-degree view of the Argan Oil market’s drivers and restraints, coupled with their impact on demand during the projection period. Also, the report examines global opportunities and competitive analysis for the Argan Oil market.
Argan Oil Market: Overview
Argan oil can be extracted manually or mechanically from the kernels of argan tree fruits. Previously, oil was manually removed from the kernels. But owing to advances in machinery, time has been saved, and high-quality products have been guaranteed. Based on the method of extraction, argan oil is separated into two types: edible argan oil and cosmetic argan oil. After extraction, argon oil has a medium to pale yellow tint due to a filtration process. Experts are studying argan oil to learn more about its advantages. The food, pharmaceutical, and nutraceutical industries use it extensively. The produced oil is mixed in concentrated form with various modifications.
Browse the full “Argan Oil Market Size, Trends and Insights By Type (Organic, Conventional), By Form (Concentrate, Blend, Absolute), By Application (Medical, Personal care & Cosmetics, Aromatherapy, Cleaning and Home, Food, Others), By Distribution Channel (B2B, B2C), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030 “ report at https://www.custommarketinsights.com/report/argan-oil-market/
Growth Factors
Rising product demand from a number of end-use industries, including the food & beverage, cosmetics, and medical sectors, explains the increase. It has become one of the most well-liked products, particularly in the cosmetics and personal care industries. This can be attributed to its innovative properties, which also contain notable antioxidant and anti-inflammatory content as well as other noteworthy benefits for skincare and haircare.
Men’s grooming products like beard & hair oil and waxes infused with argan, essential oils, and shower gels have become more popular over the past few years. Organic items are entirely devoid of any possibly harmful substances. Due to rising consumer knowledge of the numerous advantages of organic personal care products over their synthetic counterparts, there has been an increase in demand for these products over the past several years.
Customers are paying more attention to how they look and value having healthy-looking and youthful skin. The demand for natural cosmetics and personal care products is predicted to rise as a result of this trend, which will help the global argan oil market.
Segmental Overview
The market for Argan Oils is segmented into type, form, distribution channel, and application. Based on application, the medical segment is expedited to witness high growth. Due to its antibacterial property, the medicine is meant to treat skin wounds, cuts, and abrasions more quickly. It is increasingly used for a number of medical conditions due to its analgesic, anti-proliferative, aphrodisiac, anti-inflammatory, and antioxidant properties. This is used to treat conditions like chickenpox, burns, eczema, and psoriasis, as well as diabetes, epilepsy, osteoarthritis, and atherosclerosis diseases.
Also, there are several proven benefits of aromatherapy massage. As a result, the mind and body are balanced, at ease, and in harmony. It boosts immune function to support many biological functions and fight infections. It is also available in food and cosmetic grades for commercial application. The term “culinary oil” refers to a product that is of a food grade, as opposed to a cosmetic one, and is produced differently.
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Regional Overview
The organic personal care and cosmetics business in Asia Pacific is showing great promise. The biggest regional market is China, which is followed by Japan and India. Due to the existence of powerful indigenous corporations like Aurobindo Pharma, Sun Pharma, and Lupin, India is one of the most preferred countries for making affordable pharmaceuticals. Argan oil producers in the area should benefit from the creation of novel organic medications for the treatment of diseases like cancer, cardiovascular disease, hormone imbalances, gastrointestinal problems, anti-infectives, anti-aging, and stress reduction.
Key Players Insights
The argan oil industry has a condensed competitive landscape with a select number of large businesses competing on a global and regional scale. Key players are working on product development and strategic alliances to increase their individual product portfolios and establish a solid foothold in the global market.
Some of the prominent players
- OLVEA Morocco
- Zineglo, Saadia Organics
- ARGANisme Cosmetics S.A.R.L
- Essence Of Argan
- Argan Diva
- Biopur
- Josie Maran Cosmetics
- Nadifi Argan
- Argan Liquid Gold
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