Global Argan Oil Market - 2022-2029

Global Argan Oil Market - 2022-2029

Market Overview

The global argan oil market size was worth US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

Argan oil is a natural substance made from the Argan tree's kernels. Fatty acids, vitamin E, vitamin A, antioxidants, Omega-6 fatty acids, Omega-3 fatty acids and linoleic acid, among other nutrients, can be found. It is used in hair and skin care products and cosmetics due to its positive characteristics. The shelf life of argan oil is believed to be between 3-6 months. Argan oil aids in maintaining clean and healthy skin and improves look and relief of skin disorders.

Argan oil provides additional nutrition for skin health and reduces the risk of skin irritations and allergies. It also acts as a hair conditioner, making hair softer and shinier. Its antioxidant capabilities also help to slow down the aging process. The demand for argan oil has risen over time as people have become more conscious of environmental issues and the importance of using chemical-free products.

Market Dynamics

Argan oil is a prominent ingredient in the cosmetics and personal care sectors. It is due to advanced features such as a high content of antioxidants, anti-inflammatory capabilities and other notable skincare & haircare advantages. Men's grooming products infused with argan and other essential oils have increased in popularity.

The increased awareness of natural and chemical-free products

The demand for argan oil is rising as people become more aware of their appearance. Argan oil is in high demand in confectioneries, frozen desserts, sweets and snacks, adding flavor and promoting growth. According to the current argan oil business trend, people prefer to eat flavored things, boosting the market growth.

Using argan oil in most beauty products has aided the growth of the argan oil market. Furthermore, growing customer demand for better supplements and vitamins in items ranging from food and beverages to personal care products is likely to propel the argan oil market forward sooner rather than later.

Argan oil's unique health benefits

Argan oil is gaining favor in various medical applications because of its anti-inflammatory, antioxidant, anti-proliferative, aphrodisiac and analgesic characteristics. It's used to treat infections like chickenpox, skin ailments like burns, eczema, psoriasis and diseases like diabetes, epilepsy, osteoarthritis and atherosclerosis. The substance is intended to treat skin wounds, cuts and abrasions more quickly due to its antibacterial properties.

Argan oil is extracted manually or through a mechanical process from the kernels of argan tree fruits. Previously, oil was extracted from the kernels by hand. On the other hand, machine developments have helped save time while ensuring high-quality manufacturing. Argan oil has become the most popular item in the cosmetics and personal care industries.

The advanced qualities, such as a high level of antioxidants, anti-inflammatory and other significant benefits for skincare and haircare, are credited to the product's advantage of being the most preferred product. Men's grooming products infused with argan and other essential oils, such as shower gels, hair & beard oils, skin creams and waxes, have increased in demand.

The high cost of production

The high price of argan oil limits its attractiveness among purchasers; nonetheless, advances in argan oil extraction and expanded production capacity by argan oil manufacturers are expected to give a sustainable expansion to the argan oil market in the given period. Adulteration of argan oil by local manufacturers has become a major challenge, slowing the market's growth.

The cost of manufacturing rises due to government certification and uniformity of authorities. Nonetheless, horticulture misuse, lack of availability at retail locations and high costs of argan oil compared to other readily available oils are limiting the overall growth of the argan oil sector.

COVID-19 Impact Analysis

The coronavirus epidemic has had huge societal and economic consequences in the beauty industry. Consumers' shopping habits, requirements and internet channel usage are rapidly changing. Across industries, significant production halts and import-export slowdowns were reported. The COVID-19 pandemic's rapid changes to the retail beauty scene are likely to pose hurdles to the argan oil industry's expansion in the future years.

However, customers prioritize skincare and haircare items during the outbreak, with the industries experiencing a modest loss and reasonably quick recoveries due to regional re-openings. These characteristics, combined with widespread awareness of the health advantages of argan oil and the progressive easing of COVID-19 regulations in several countries, should help the business recover traction in the coming years.

Segment Analysis

by application, the argan oil market is classified into personal care & cosmetics, medical, aromatherapy, food and others.

Various advantages of aromatherapy

Aromatherapy massage has a long list of advantages. It harmonizes, balances and relaxes both the mind and the body. It also boosts the immune system, aids in various biological activities and fights infections. Organic argan oil is the best oil form frequently used in aromatherapy.

Argan oil is also accessible in industrial culinary and cosmetic grades. Culinary oil is a food-grade product that differs from cosmetic grade in manufacturing. To make culinary oil, the kernels are toasted to give it a nutty scent and flavor. Aromatherapy items have been popular in North America and are widely accessible in specialty stores and online shopping malls.

Geographical Analysis

The rising use of bio-based personal care products in North America

Because of the rising use of bio-based personal care, cosmetics and aromatherapy products, North America is also one of the largest users of argan oil. Argan oil is used in aromatherapy to improve wellness for body, mind and spirit. Aromatherapy massage aids in the coordination of body balance, reducing stress and supporting various body functions in the battle against illness.

As a result, aromatherapy products have gained popularity throughout North America. Furthermore, they are readily available in specialist salons and online shopping centers, increasing argan oil demand worldwide. As a result, aromatherapy goods have become popular in North America and can be found in specialty stores and online shopping malls.

Competitive Landscape

Because of the large number of firms having operations in Morocco, the market is highly fragmented. In Morocco, there are numerous cooperatives where women produce and transport the product to refineries for further processing.

Exporting the goods to high-growth regions has created a network of relationships between the manufacturer, trader and distributor. Manufacturers have embraced import and export company activities to compete with middlemen's prices. Many firms are selling through their online retail stores and have developed into s to maximize product sales and enhance their penetration into the specialty market.

Major players operating in the global market for Argan Oil include Olvea, ARGANisme, Malakbio, Lipidine, Argane Aouzac, Organica Group LTD, Alpha Packaging, Inc, Kamakhya Bottlers, Zidrop Argan Oil and ARGANBULK.

Olvea

Overview: OLVEA is a prominent vegetable and fish oils supplier with over 90 years of experience in the oils and fats industry. The initial business of the family-owned Group, which was founded in 1929 in Normandy (France), was to trade cod liver oils in connection with the operation of the fishing port of Fécamp. The OLVEA Group now sells over 65,000 tonnes of oils each year. Over the last ten years, OLVEA's yearly growth rate has climbed by 15%. With an investment of more than US$ 43 million over the last five years, the sales turnover has reached US$ 161.3 million, including new production plants, refining and storage capacity that comply with current health and environmental laws.

Product Portfolio: OLVEA offers a diverse range of vegetable oils and specialty ingredients sourced from conventional, organic and fair-trade sources. OLVEA has established sustainable supply chains in Morocco for Argan oil and Burkina Faso for Shea butter (TrueSheaTM) and Sesame oil to maintain the highest quality, traceability and consistency standards of raw materials. The oils are made for use in cosmetics, pharmaceuticals and food.

Key Development: In 2022, the OLVEA Group, which specializes in vegetable & fish oils for the cosmetic, pharmaceutical, food and feed industries, announced that its specialty vegetable oils for cosmetic usage are now ""COSMOS Natural"" approved. Apricot Kernel Oil, Argan Oil, Avocado Oil, Hazelnut Oil, Jojoba Oil, Macadamia Nut Oil, Olive Oil, Sesame Oil, Sweet Almond Oil and TrueSheaTM are all certified (Shea butter).

Why Purchase the Report?
• Visualize the composition of the argan oil segmentation by type, form, application and region, highlighting the critical commercial assets and players.
• Identify commercial opportunities in argan oil by analyzing trends and co-development deals.
• Excel data sheet with thousands of data points of argan oil - level 4/5 segmentation.
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the key product of all major market players

The global argan oil report would provide access to an approx. 59 market data tables, 54 figures and 250 pages.

Target Audience
• Oil Providers/ Buyers
• Cosmetics Manufacturers
• Education & Research Institutes
• Research Professionals
• Emerging Companies
• Argan Oil Manufacturers