The global Argan Oil market size is expected to be worth around US$ 507.1 million by 2027, according to a new report by Vision Research Reports.
The global Argan Oil market size was valued at US$ 223.8 million in 2019 and is anticipated to grow at a CAGR of 10.7% during forecast period 2020 to 2027.
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The growth can be attributed to increasing product demand from several end-use industries such as food, cosmetics, and medical. Growing popularity of the product along with favorable regulatory policies in countries like U.K and U.S. are likely to play a key role in providing opportunities for new players entering the market.
Argan oil is gaining popularity in the global market as it cotains omega-3 and omega-6 fatty acids, lupeol, beta amyrin, antioxidant tocopherols, triterpenoids, and butyrospermol, which play a significant role in improving skin and hair quality. This has encouraged manufacturers from industries such as aromatherapy, medical, and cosmetics products to integrate argan oil in their final products.
Report HighlightsIn 2019, conventional emerged as the largest type segment in the argan oil market owing to high crop yield obtained by using this cultivation method as it involves using synthetic pesticides and fertilizers In 2019, Business to Business (B2B) dominated the distribution channel segment in the market owing to increasing direct sales of the product in the international market, especially by the manufacturers of cosmetic products Sivan, an Israeli company is developing a super strain, called as Argan 100, which is capable of tolerating the Mediterranean climate and can manufacture 10 times more nuts as compared to the average trees of Morocco, thus contributing to the production
OLVEA, ARGANisme, Zineglob, PURUS (Purus International), Malakbio, Argane Aouzac, Organica Group LTD, Arganfarm, Kamakhya Bottlers, Zidrop Argan Oil, and ARGANBULK.
Argan Oil Type OutlookConventional Organic
Argan Oil Form OutlookAbsolute Concentrate Blend
Argan Oil Application OutlookPersonal Care & Cosmetics Medical Aromatherapy Food Cleaning and Home Others
Argan Oil Distribution Channel OutlookB2B B2C Supermarket/Hypermarket Specialty Retailer Online Stores Others
Argan Oil Regional OutlookNorth America U.S Canada Mexico Europe Germany U.K. France Asia Pacific China India Japan Central & South America Brazil Middle East & Africa Morocco GCC
In this study, the years considered to estimate the market size of Argan Oil are as follows:Historic Year: 2016-2019 Base Year: 2020 Forecast Year 2020 to 2027
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– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
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