Global Argan Oil Market Size, Trends, Growth Opportunity, By Type, By Form, By Distribution Channel, By Application, By Region and Forecast Till 2027.

Global Argan Oil Market Size, Trends, Growth Opportunity, By Type, By Form, By Distribution Channel, By Application, By Region and forecast till 2027.

Global Argan Oil Market

Global Argan Oil Market was valued at USD 312.13 billion in 2021 and expected to reach USD 546.15 billion by 2027 at a CAGR of 6.7% from 2022-2027.

The kernels of the argan tree are used to make argan oil, an organic material. It contains significant amounts of antioxidants, omega-6 fatty acids, triterpenoids, and linoleic acid in addition to vitamins A and E. The oil is offered commercially in concentrated, absolute, and blended forms for use in cooking and cosmetics. For a number of health benefits, such as treating acne, stretch marks, skin irritation, and ageing signs, as well as moisturising the skin, it can be applied topically or taken as a supplement tablet. The oil is therefore present in a large selection of high-end personal care items, such as creams, lotions, soaps, shampoos, and conditioners.

Market Drivers

The demand for argan oil in cosmetic goods is anticipated to increase as consumers' preferences for natural and organic products grow. Argan oil's growing appeal and the advantages it offers have encouraged global R&D efforts as well as the emergence of numerous businesses. The market for argan oil will be driven by the rising demand for it in frozen foods, desserts, confections, snacks, and sweets because it gives these foods flavour. The increasing use of argon oil in the manufacture of pharmaceutical and nutraceutical goods will increase the favourable prospects for the expansion of the argan oil market. The personal care and cosmetics sectors use argan oil as an active ingredient. Due to its anti-aging properties, the ingredient is becoming more and more popular in a wide range of cosmetic formulas, including serums, lip balms, lipsticks, face oils, and so on. Industry giants including L'Oréal, Lakmé, and Sephora have created cosmetic product lines based on argan oil. Demand for argan oil in beauty products is anticipated to increase due to the growing popularity of natural and organic ingredients.

The market is anticipated to grow as a result of widespread medicinal applications and the spike in popularity of argan-based beauty products. Due to its anti-inflammatory, antioxidant, anti-proliferative, aphrodisiac, and analgesic characteristics, argan oil is employed in a variety of medical procedures. Because of its antibacterial properties, the medication is used to cure skin wounds, cuts, and abrasions more quickly.

Market restraints

The product's high cost will slow the rate of market expansion. The high costs associated with research and development in emerging countries also hinder the market's overall growth for argan oil. Throughout the forecast period, the argan oil market will also face additional challenges from rigorous governmental regulations and the usage of conventional methods for extraction

Market Segmentation

The Global Argan Oil Market is segmented into Type, Form, Distribution Channel, Application. By Type such as Conventional, Organic. By Form such as Absolute, Blend, Concentrate. By Distribution Channel such as B2B, B2C (Supermarket/Hypermarket, Specialty Retailer, Online Stores, Others), By Application such as Personal Care & Cosmetics, Medical, Aromatherapy, Food, Cleaning and Home, Others.

Regional Analysis

The Global Argan Oil Market is segmented into five regions North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The rising use of biobased personal care, cosmetics, and aromatherapy products has made North America one of the major argan oil users. The only region in the world that engages in commercial-scale production is the Middle East and Africa. In Morocco, argan trees are primarily grown in the semi-arid and dry areas surrounding Essaouira and Agadir. Due to the inclusion of high-performance components including vitamin E, omega 6, beta-amyrin, omega 3, triterpenoids, butyrospermol, lupeol, and tocopherols in argan oil, the U.S. market for argan oil is expanding and becoming more significant. One of the biggest markets for argan oil worldwide is Europe. 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 local enterprises, India is one of the most preferred countries for making inexpensive pharmaceuticals.

Key Players

This report includes a list of several Key Players, namely OLVEA, ARGANisme, Zineglob, PURUS (Purus International), Malakbio, Argane Aouzac, Organica Group LTD, Arganfarm, Kamakhya Bottlers, Zidrop Argan Oil, and ARGANBULK.

Market Taxonomy

By Type

• Conventional
• Organic.

By Form

• Absolute
• Blend
• Concentrate

By Distribution Channel

• B2B
• B2C

Supermarket/Hypermarket

Specialty Retailer

Online Stores

Others

By Application

• Personal Care & Cosmetics
• Medical
• Aromatherapy
• Food
• Cleaning and Home
• Others.

By Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa