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

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.