Argan Oil Market Trends, Competitive Landscape & Future Growth 2020-2027 | Kamakhya Bottlers, Argane Aouzac, ARGANisme, etc.
Research Reports
Jan 07, 2021
The Global Argan Oil Market is foreseen to expand by exhibiting a stellar CAGR of 10.7% during the projection period. With this CAGR, the market is likely to reach a valuation of USD 499.90 million by 2027 from an estimated value of USD 220.87 million in 2019. This growth is primarily due to the implementation of newer regulatory policies by governments of countries, such as the U.S. and the U.K., to increase its usage in the several cosmetics and biopharmaceutical products.
Key players in the argan oil market are:
Purus International
Zidrop Argan Oil
Organica Group Limited
Kamakhya Bottlers
Argane Aouzac
ARGANisme
ARGANBULK
Malakbio
Arganfarm
Zineglob
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Argan oil is generally extracted from the argan-tree seed kernels by mechanical processes. The oil has some excellent properties, which are ideal for cosmetics, products for skin and hair care. As the oil has a higher level of antioxidants, anti-inflammatory properties, and a rich source of essential nutrients; the argan oil is increasingly finding application in grooming products such as hair oils, face creams, shower gels, and waxes. The increasing acceptance of cosmetics and hygiene products is a crucial factor fueling growth of the global argan oil market.
Additionally, argan oil has widely accepted by other industries such as food and pharmaceuticals. The consumption of argan oil is seen as beneficial for patients suffering from blood pressure and diabetes. Additionally, it may have anticancer effects, skin ageing, and promotes wound healing; owing to such benefits, argan oil is finding its place in the pharmaceutical industry very swiftly. Its widening scope of applications across numerous industries is also likely to reflect positively on the market growth in the coming years.
Argan oil market: Segmentation
Reports And Data has segmented the Global Argan Oil Market based on type, form, application, and region:
Type Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
• Conventional
• Organic
Form Outlook (Volume, Kilotons; Revenue, USD Million; 2017-2027)
• Absolute
• Concentrate
• Blend
Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
• Personal Care & Cosmetics
• Medical
• Aromatherapy
• Food Processing
• Cleaning and Home
• Others
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
• North America
– U.S.
– Canada
• Europe
– Germany
– U.K.
– France
– Benelux
– Rest of Europe
• Asia Pacific
– China
– Japan
– South Korea
– Rest of APAC
• Latin America
– Brazil
– Rest of LATAM
• Middle East & Africa
– Saudi Arabia
– U.A.E.
– Rest of MEA
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The usage of products during aromatherapy treatment helps to promote body and mind health. Aromatherapy massages are beneficial to harmonizing body health and combating diseases. Knowing these benefits, numerous companies, along with encouragement from governments in developed and developing countries, are investing more in research and production of argan oil. Additionally, a substantial surge in investment for improving technologies leads to enhance the production of argan oil. Advancements in technology are likely to reduce manufacture time by improving its overall quality, which is estimated to boost growth of the argan oil market.
The conventional type of argan oil is extracted from argan-tree kernels, which has valuable nutrients and fatty acids. Thus, it has wide application in personal care products, pharmaceuticals, cosmetics, and home cleaning products. On the other hand, the organic type of argan oil has wide applications in meat and aromatherapy for many skin treatments. The demand for argan oil from skincare routine clinics and product manufacturing companies is growing and is fuelling the market growth.
Regionally, North America largely dominates the global argan oil market in terms of value and revenue. The expanding use of bio-based body care products and adoption of aromatherapy and its related products is contributing majorly in the market growth. Additionally, factors such as the increasing awareness about the benefits of consuming argan oil, coupled with its affordability due to higher disposable income, are fuelling growth of argan oil market in the region. The market in Europe is witnessing higher demand owing awareness regarding the product benefits and higher adoption of aromatherapy, which is helping the region to stand at the second-leading position in terms of revenue.
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