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

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.