Global Argan Oil Market: Overview
“The global Argan Oil market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Argan trees grow and tenaciously survive in semi-desert areas of the Mediterranean. The deep roots and small leaves of the argan tree allow it to resist arid winds and water loss, resulting in a nut with a unique oil profile.
Pure argan oil is a rare and precious oil that is harvested and extracted from the nut of the argan tree. Argan oil is primarily comprised of fatty acids and a variety of phenolic compounds.
The majority of the fat content of argan oil comes from oleic and linoleic acid. Approximately 29–36% of the fatty acid content of argan oil comes from linoleic acid, or omega-6, making it a good source of this essential nutrient
Global Argan Oil Market: Dynamics
The flourishing cosmetic industry in developed countries and increasing demand for argan oil from cosmetic product manufacturers for innovative product offerings are major factors expected to drive the growth of the global market.
In addition, rising spending capacity, increasing consumer approach towards wellness, coupled with argan oil finding wide application in aromatherapy, owing to properties that aid in restoring elasticity, moisture, and nutrient content of the skin are some other factors expected to support the growth of the global market to a certain extent.
Moreover, increasing demand from the pharmaceutical sector as an ingredient in various products is expected to further boost the growth of the market to a certain extent.
However, the high cost of products is a major factor expected to hamper the growth of the global market. A recent trend observed in the current market is rising consumer inclination towards natural products.
Increasing investment by major players for R&D activities and innovative offerings is expected to create new opportunities in terms of revenue for players operating in the target market over the forecast period.
Global Argan Oil Market: Segment
Among the source segments, the natural argan oil segment is expected to dominate the target market over the forecast period.
Among the form type segments, the blends argan oil segment is expected to dominate in the target market over the forecast period.
Among the application segments, the cosmetics argan oil segment is expected to dominate in the target market over the forecast period.
Global Argan Oil Market: Region
The market in North America is expected to dominate the global market and is expected to continue its dominance over the forecast period.
This can be attributed to increasing demand from the cosmetic industry and the presence of major players operating in the countries in this region.
The market in the Asia Pacific is expected to contribute significant revenue share, owing to increasing demand for the pharmaceutical sector and the presence of prominent players operating in emerging economies such as China and India in this region.
The market in Latin America is expected to witness moderate growth over the forecast period
Global Argan Oil Market Segmentation:
Segmentation by source type:
- Natural Argan Oil
- Organic Argan Oil
Segmentation by form type:
- Absolute Argan Oil
- Concentrates Argan Oil
- Blends Argan Oil
Segmentation by application:
- Therapeutics Argan Oil
- Aromatherapy Argan Oil
- Food & Beverages Argan Oil
- Cosmetics Argan Oil
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Bios Agadir
- Bio Pur AG
- Nadifi Argan
- ZineGlob SARL
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