Last Updated on March 4, 2023 by Awais Aftab
According to IMARC Group’s latest report, titled “Argan Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, The global argan oil market grew at a CAGR of around 11% during 2015-2020. Argan oil comprises fatty acids, vitamin A and E, antioxidants, and a variety of phenolic compounds. Its consumption assists in reducing the growth of cancer cells and preventing diabetes. It also aids in treating acne, stretch marks, skin irritation, and signs of aging. Consequently, it is extensively utilized in the production of personal care products across the globe.
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There is a considerable rise in the utilization of argan oil in the manufacturing of several baked products and frozen desserts. This represents one of the key factors propelling the market growth. Apart from this, it is increasingly being used to produce medicines for skin-related and other medical conditions. This can be attributed to its anti-inflammatory, antioxidant, anti-proliferative, and analgesic properties. Furthermore, leading market players are using recyclable containers for the packaging of argan oil. This, coupled with the growing popularity of aromatherapy, is driving the market worldwide. Looking forward, IMARC Group expects the global argan oil market to exhibit moderate growth during the next five years.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- Arganbulk
- Argane Aouzac
- Arganfarm sarl. au.
- ARGANisme
- Kamakhya Bottlers
- Konouz Rayyan (PURUS International)
- Lipidine
- Malakbio
- OLVEA Morocco
- Organica Group Ltd.
- Zidrop Argan Oil
- Zineglob Ltd.
Market Segmentation:
Breakup by Type:
- Conventional
- Organic
Breakup by Form:
- Absolute
- Blend
- Concentrate
Breakup by Application:
- Personal Care and Cosmetics
- Medical
- Aromatherapy
- Food
- Home Cleaning
- Others
Breakup by Distribution Channel:
- B2B
- B2C
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Stores
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
Who are the key players in the argan oil market?
Argan oil is a highly sought-after beauty and wellness product derived from the kernels of the Argan tree found in Morocco. As the demand for natural, organic and chemical-free products continues to rise, the Argan oil market has seen significant growth in recent years. Several key players have emerged in this market, each contributing to its growth and success.
One of the primary players in the Argan oil market is Morocco, where the Argan tree is exclusively grown. Moroccan cooperatives and local businesses dominate the production of Argan oil, ensuring its authenticity and quality. These cooperatives empower women by offering them employment opportunities, providing them with a stable source of income, and promoting gender equality in the region.
Another key player in the Argan oil market is the cosmetics industry. Argan oil is a popular ingredient in haircare and skincare products due to its anti-aging and moisturizing properties. Several well-known cosmetics brands use Argan oil in their products, including L’Oreal, The Body Shop, and Josie Maran.
Finally, the health and wellness industry is also a significant player in the Argan oil market. Argan oil is rich in nutrients, such as vitamin E and fatty acids, making it a popular ingredient in dietary supplements and food products. The oil is known to have numerous health benefits, including improving heart health and reducing inflammation.
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