What is the global market size of Argan Oil Market?

Global Argan Oil Market size was valued at USD 267.85 million in 2021 and is poised to grow from USD 299.45 million in 2022 to USD 803.05 million by 2030, growing at a CAGR of 11.5% in the forecast period (2023-2030).

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 News

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.

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Morocco is the largest producer of argan oil in the world. In the Argan oil market, according to regional segmentation North America holds the largest market share.
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Argan oil has been used for centuries for a variety of culinary, cosmetic and medicinal purposes. It is rich in essential nutrients, antioxidants and anti-inflammatory compounds. Early research indicates that argan oil may help prevent chronic illnesses, including heart disease, diabetes and cancer.

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).

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). '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'

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.

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.

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.

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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

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