Argan Oil Market
Report ID: SQMIG30L2218
Argan Oil Market Size, Share, Growth Analysis, By Type(Organic, Conventional), By Form(Absolute, Concentrate, Blends), By Grade(Culinary Grade, Cosmetic Grade), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30L2218 |
Region:
Global |
Published Date: July, 2036
Pages:
237
|Tables:
88
|Figures:
76
Argan Oil Market Insights
Global Argan Oil Market size was valued at USD 299.45 million in 2022 and is poised to grow from USD 333.59 million in 2023 to USD 791.21 million by 2031, growing at a CAGR of 11.4% in the forecast period (2024-2031).
Growing demand from the food, health care, and cosmetics industries is anticipated to propel market expansion. Due to customers' increasing understanding of the value of improving both their general appearance and manner of life, the personal care and cosmetics industry is rising. People are switching from synthetic to natural personal care products as a result of the increasing occurrence of skin and hair disorders such acne, dermatitis, dry and damaged hair, and skin ageing problems.
The Loreal Annual Report estimates that the global market for cosmetics will reach more than 200 billion euros by 2031. Due to the development of numerous argan oil-infused products, including hair serums and gel creams, by big manufacturers like L'Oréal and Lakme, the organic skincare market is expanding in nations like the United Kingdom, France, and Germany. Men's grooming products including hair oils, shower gels, beard oils, skin creams, and waxes that contain argan oil and other essential oils are becoming more and more popular, which is assisting the growth of the industry. It takes a lot of time and effort to collect and produce argan oil.
US Argan Oil Market is poised to grow at a sustainable CAGR for the next forecast year.
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Argan Oil Market Segmental Analysis
The global argan oil market is segmented based on type, form, grade and region. Based on type it is segmented into organic, conventional. Based on form it is segmented into: absolute, concentrate, blends. Based on grade it is bifurcated into culinary grade, cosmetic grade. Based on region, Argan Oil Market is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
Argan Oil Market Analysis by Type
The conventional variety is obtained from the argan tree's kernels and is a great source of essential fatty acids and other vital elements. Slow-growing argan trees are unique to Morocco's desolate landscapes. To grow high-yielding cultivars and produce greater oil content, conventional harvesting is characterised by the use of irrigation water, synthetic fertilisers, and chemical pesticides. Manufacturing of personal care and cosmetics, pharmaceuticals, aromatherapy, food, and household cleaning goods all heavily rely on this type.
One of the purest varieties of argan oil, a common component in aromatherapy, is organic. When harvesting organic argan oil, biobased fertilisers including bone meal, green manure, and compost manure are used to boost crop productivity. International cosmetics corporations are becoming increasingly interested in this kind, which is marketed as a luxury good.
Argan Oil Market Analysis by Form
Argan oil absolute is a concentrated form that is obtained by solvent-extraction methods from plant kernels. In order to create this form, the kernels must first be ground up and suspended in a solvent. The solvents are then vaporised to extract the oil. The use of absolute form is found in cosmetics, aromatherapy, and fragrance.
Argan oil is combined with vegetables, essential oils, and other ingredients in the blended form. Typically, the blended form is employed in the creation of household products, cleaning solutions, and food preparations. Moroccan customers have a strong preference for using goods made traditionally. Over the forecast period, this segment's growth is anticipated to be driven by increased consumer demand for blends used topically and rising argan oil blend consumption in the cosmetics industry.
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Argan Oil Market Regional Insights
North America held the largest share of the global argan oil market in 2021. The rise in popularity of bio-based cosmetics, personal care items, and aromatherapy products was cited as the cause of this. It is utilised in aromatherapy treatments to support physical, mental, and spiritual wellbeing. The body is balanced, tension is reduced, and many body functions are assisted in fighting off ailments by aromatherapy massage. As a result, aromatherapy products are readily accessible in specialist stores and internet shopping hubs throughout North America. Due to growing innovation in hair style methods and consumer awareness of attractive looks, particularly in developed economies like North America, hair care products are anticipated to be in high demand.
The only region in the world that engages in commercial-scale production is the Middle East and Africa. In Morocco, argan trees are primarily grown in the semi-arid and dry areas surrounding Essaouira and Agadir. Given the advantages of argan oil, numerous NGOs and international cosmetics businesses have intervened recently to stop deforestation and promote the planting of argan trees in the area. For instance, a sourcing programme has been established by L'Oréal and BASF SE to support the supply chain.
Among all the continents, Europe is one of the ones that uses the most argan oil. In the personal care and cosmetics sector, Europe holds the biggest argan oil market share. In Europe, cosmetic products are mostly produced through solvent extraction of kernels, which is used to create moisturisers, shampoos, and anti-wrinkle cosmetics. Furthermore, Europe has dominated biopharmaceutical research. Pharmaceutical firms in Europe have produced bio-based medications for a variety of illnesses, including diabetes, cancer, high blood pressure, and cardiovascular ailments.
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Argan Oil Market Dynamics
Argan Oil Market Driver
- The rise in demand for argan oil in frozen, desserts, confectionaries, snacks and sweets as it helps in adding flavour to these items and hence will drive the argan oil market.
- Furthermore, the increase of consciousness about beauty and upsurge in the demand as a medicinal product for treating high blood pressure and diabetes are some macroeconomic factors that are positively impacting the worldwide argan oil market.
- Argan oil is utilized as an active component in the personal care and cosmetic industries. Because of its anti-aging effects, the substance is gaining popularity in a variety of cosmetic formulations such as serums, lip balms, lipsticks, face oils, and so on. Cosmetic product lines based on argan oil have been produced by industry leaders like L'Oréal, Lakmé, and Sephora. The rising popularity of natural and organic ingredients of argan oil is expected to drive demand for argan oil in cosmetic products.
Argan Oil Market Restraint
- Due to the argan oil market's extreme segmentation and the prevalence of companies engaging in adulteration and improper labelling, growth is severely constrained.
- Manufacturers in the area have observed numerous instances of adulteration. Because it is readily available and very inexpensive, sunflower oil is primarily utilised for adulteration. The negative consequences of adulteration will persist during the predicted period, despite certification and standardisation bodies tightening their enforcement in some significant regions.
- Traditional processing methods are still used extensively. Argan oil extraction requires a lot of human labour. The extraction of argan oil is carried out by major businesses using mechanical presses. Pre-processing still requires manual labour, which reduces its effectiveness and productivity.
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Argan Oil Market Competitive Landscape
The existence of several international players defines the global market. To increase their market share, businesses use a variety of techniques, including partnerships, agreements, regional growth, mergers, acquisitions, and new product creation. In our Argan Oil market reports, some of the leading quality Argan Oil manufacturers are as follows: Olvea Group (France), ARGANisme Cosmetics S.A.R.L (Morocco), Biopur Sarl (Morocco), Zineglob ltd (Morocco), Purus International (Morocco), Malak Bio (Morocco), L'OCCITANE Group Melvita (France), Nadifi Argan oil (Morocco), Argan Gold Liquid (UK), Frontier Natural Products Co-op ltd (US), John Masters Organics Inc (US), Vima Seuss (Morocco), Conai Corporation (US), Zit Siddi Yassine Sarl (Morocco).
Top Players in the Argan Oil Market
- ZineGlob SARL
- Arganisme Cosmetics
- Melvita SA
- Moroccan Elixir
- Leven Rose
- Josie Maran Cosmetics
- Kahina Giving Beauty
- ARGANisme
- Olie Biologique
- John Masters Organics
- Pura D'or
- Shea Terra Organics
- Aura Cacia
- Cliganic
- Saadia Organics
- Majestic Pure
- Acure Organics
- Poppy Austin
- Now Foods
- Radha Beauty
Argan Oil Market Recent Developments
- In August 2022, the most recent PHYTORx series of Booster serums and Face Oils has been introduced by Lotus Professional, a company that closely works with Indian skin. One of the industries that changes the most quickly is skincare. The customer is actively involved in the rise of investment in homegrown products that contain active ingredients, ingredient-based skincare, and the beauty sector.
- In August 2022, to address consumers' changing personal care needs, Respected Roots, a pioneer in the premium, natural grooming sector, has introduced new oils for skin, hair, and beard. Rosehip oil, argan oil, sesame oil, tea tree oil, coconut oil, and jojoba oil are among the ingredients in the hair and scalp oil.
Argan Oil Key Market Trends
- In the personal care and cosmetics industries, argan oil is used as an active ingredient. Due to its anti-aging qualities, the substance is becoming more and more popular in various cosmetic formulas such serums, lip balms, lip tints, and face oils. Players in the market including L'Oréal, Lakmé, and Sephora have created a line of cosmetics using argan oil. The demand for argan oil in cosmetic goods is anticipated to increase as consumers' preferences for natural and organic products grow.
- Argan oil's growing appeal and the advantages it offers have encouraged global R&D efforts as well as the emergence of numerous businesses. Arganic Ltd., IZIL Beauty, and KENZA International Beauty are a few of the firms working on creating and distributing goods containing and made using argan oil.
Argan Oil Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, by type, at the end of the forecast period, the conventional argan oil market is anticipated to be dominant. Due to the rising popularity of bio-based personal care, cosmetics, and aromatherapy products, North America is one of the major argan oil users. The body, mind, and soul are all healthier when argan oil is used in aromatherapy. Stress is reduced and different bodily systems that assist the body fight infections are supported by aromatherapy massage. Owing to these advantages, aromatherapy products have gained popularity in North America.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 299.45 million |
| Market size value in 2031 | USD 791.21 million |
| Growth Rate | 11.4% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Argan Oil Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Argan Oil Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Argan Oil Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Argan Oil Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Argan Oil Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Argan Oil Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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