Argan Oil Market

Global Argan Oil Market

As stated in our extensive report; the Global Argan Oil Market accounted for USD 264.5 Billion in the year 2022 and is projected to reach a value of USD 552.6 Billion by 2030.

The market for Argan Oil is seeing an increase in demand as people’s awareness of attractiveness grows. Argan Oil is very popular in confections, frozen treats, sweets, and snacks because it gives these products flavour, which promotes development. According to the current trend in the Argan Oil industry, people nowadays prefer to consume flavoured goods, helping the market expand. In addition, most beauty items contain Argan Oil, which has accelerated the market’s expansion. Argan Oil’s numerous antioxidant properties and its abundance in vitamin E, omega-6 and omega-3 fatty acids, and triterpenoids make it a healthy choice for hair and skin, boosting the market’s potential for growth. The worldwide market worth and size of the Argan Oil market have risen as a result of its ability to reduce inflammation, and acne, prevent the appearance of stretch marks, and aid in moisturising the skin.

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Factors Influencing Global Argan Oil Market Growth

The growth of the global Argan Oil market can be attributable to the following:

1. Increasing demand from the food, health care, and cosmetics industries will drive market expansion.
2. As customers become more conscious of how important it is to improve their general appearance and manner of life, the personal care and cosmetics industry is rising.
3. People are switching from synthetic to natural personal care products as the prevalence of skin and hair disorders, such as dermatitis, acne, dry and damaged hair, and skin ageing issues, is rising globally.
4. There has been a rise in the usage of Argan Oil in men’s grooming products, including waxes, skin creams, hair and beard oils, and shower gels infused with argan and other essential oils.
5. The market is anticipated to grow due to widespread medicinal applications and an increase in demand for beauty products containing Argan Oil. Due to its anti-inflammatory, antioxidant, anti-proliferative, aphrodisiac, and analgesic characteristics, Argan Oil is employed in various medical procedures. Because of its antibacterial properties, the medication is used to cure skin wounds, cuts, and abrasions quickly.
6. The market is expected to continue to grow due to expanding consumer spending power and the growing use of Argan Oil in aromatherapy.
7. Argan Oil manufacturers now have easier access to the skin care market thanks to consumers’ growing preference for natural and organic skin and hair products. To take advantage of the current trend, significant Argan Oil producers are working with global leaders in cosmetics. Argan Oil is also becoming quite popular in the food industry.

However, the main obstacle impeding the market’s expansion is local manufacturers’ adulteration of Argan Oil. Additionally, the government’s accreditation and standardization of authority frequently pose difficulties. The most productive factor is that using traditional methods to extract Argan Oil is less effective and less fruitful.

North America Region Expected to Dominate the Global Market

The projected period predicts North America will lead the global market for Argan Oil. The reason was the surge in the appeal of bio-based cosmetics, personal care products, and aromatherapy goods. It is used in aromatherapy treatments to support physical, mental, and spiritual well-being. For example, aromatherapy massage balances the body, eases tension, and supports several bodily processes that help the body fight disease. Because of this, aromatherapy supplies are widely available at speciality stores and online shopping destinations across North America. In addition, hair care products are expected to be in high demand due to the expanding innovation in hairdo techniques and consumer awareness of attractive looks, particularly in developed economies like North America.

Conclusion

The substantial demand for Argan Oil from the personal care and cosmetics industries has favoured the overall Argan Oil market.

The well-known players of the Global Argan Oil Market include OLVEA (India), ARGANisme (Morocco), Pure Argan Co. (UK), Malakbio (Morocco), Argane Aouzac (U.S.), Organica Group Ltd (Peru), Zidrop Argan Oil (Morocco) and others.