Global Argan Oil Market Size Study, by Category (Organic and Conventional), by Application (Food, Pharmaceuticals & Nutraceuticals, Cosmetics & Personal Care, and Others), by Form (Absolute, Blend), and Regional Forecasts 2022-2032

Global Argan Oil Market Size Study, by Category (Organic and Conventional), by Application (Food, Pharmaceuticals & Nutraceuticals, Cosmetics & Personal Care, and Others), by Form (Absolute, Blend), and Regional Forecasts 2022-2032

The global argan oil market, valued at approximately USD 333.59 million in 2023, is set to witness a robust compound annual growth rate (CAGR) of 11.40%, reaching USD 881.41 million by 2032. Argan oil, derived from the kernels of the Argan tree endemic to Morocco, has gained worldwide acclaim for its remarkable nutritional, medicinal, and cosmetic properties. The oil's high antioxidant content, alongside essential fatty acids and vitamins, makes it indispensable across various sectors including cosmetics, pharmaceuticals, and food industries.

A significant driver of the market's growth is the escalating consumer preference for organic and natural products, particularly in the cosmetics and personal care industry. Argan oil's anti-aging and skin-nourishing properties have catalyzed its adoption in premium skincare formulations. Simultaneously, the growing trend toward functional foods and nutraceuticals has expanded its application in dietary supplements and health-enhancing products. However, challenges such as the limited supply of argan oil and its labor-intensive extraction process are anticipated to constrain the market’s potential during the forecast period.

Technological advancements in extraction methods, coupled with innovations in product formulations, are poised to reshape the market landscape. The development of blended variants and enriched formulations is opening new avenues for argan oil applications. Furthermore, the increasing incorporation of argan oil in bakery and confectionery items, as well as dairy products, underscores its expanding utility in the food and beverages sector.

Regionally, North America holds a dominant position in the global argan oil market, driven by the rising demand for organic and natural skincare products. Europe closely follows, with robust growth attributed to stringent regulations promoting natural ingredients and increasing awareness of argan oil's benefits. Meanwhile, the Asia-Pacific region is anticipated to experience the fastest growth, supported by rapid urbanization, increasing disposable incomes, and the burgeoning popularity of luxury cosmetics. Emerging markets in Latin America and the Middle East & Africa also present lucrative opportunities, spurred by growing consumer awareness and investments in sustainable production practices.

Major market players included in this report are:
• L'Oréal S.A.
• Olvea Group
• Josie Maran Cosmetics
• ZineGlob
• Arganfarm
• Nadifi Argan Oil
• Moroccanoil Inc.
• Purus International
• Essence of Argan
• Organic Essence
• Argan Magic
• ArganaTree
• Shea Terra Organics
• BIOTANIC
• Kaé Cosmétique

The detailed segments and sub-segments of the market are explained below:

By Category:
• Organic
• Conventional

By Application:
• Food
Bakery & Confectionery
Dairy & Frozen Desserts
Sweet & Savory Snacks
Others
• Pharmaceuticals & Nutraceuticals
• Cosmetics & Personal Care
• Others

By Form:
• Absolute
• Blend

By Region: North America:
• U.S.
• Canada

Europe:
• UK
• Germany
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific:
• China
• India
• Japan
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America:
• Brazil
• Mexico

Middle East & Africa:
• Saudi Arabia
• South Africa
• Rest of Middle East & Africa

Years considered for the study are as follows:
• Historical year – 2022
• Base year – 2023
• Forecast period – 2024 to 2032

Key Takeaways:
• Comprehensive market forecasts segmented by category, application, form, and region for a decade.
• Detailed regional insights capturing trends and growth opportunities.
• Competitive landscape highlighting major players, innovations, and strategies.
• Analysis of emerging trends and challenges shaping the global argan oil market.
• Demand and supply-side evaluations providing actionable intelligence for stakeholders.

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