IMARC Group, a leading market research company, has recently released a report titled “Argan Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global argan oil market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How Big is the Argan Oil Market?

The global argan oil market size reached US$ 308.2 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 564.1 Million by 2028, exhibiting a growth rate (CAGR) of 9.9% during 2023-2028.

What is Argan Oil?

Argan oil is a plant oil produced from the kernels of the argan tree. Traditionally prized for its nutritive, cosmetic, and numerous medicinal properties, argan oil has become a popular ingredient in many skincare and haircare products. Its composition is notable for the high concentration of essential fatty acids, primarily oleic and linoleic acids, making it deeply moisturizing and beneficial in helping to maintain skin elasticity while also providing antioxidant properties due to its tocopherol content. This oil is rich in natural phenols, beneficial to hair follicles, and is often incorporated into products aiming to revitalize hair and increase shine. Moreover, sterolins in argan oil may help to improve skin metabolism, reduce inflammation, and promote excellent moisture retention. The unique combination of these biological compounds contributes to the oil's revered status in personal care formulations. It is used for hydrating and softening the skin and is also applied to protect against environmental damage that can lead to skin aging. The versatility of argan oil extends to culinary uses, where it is valued for its nutty flavor, though its cosmetic-grade variant is more widely known internationally. Its extraction process, although increasingly mechanized, is rooted in traditional methods, which underscores the balance between historical practices and modern demands. Argan oil's multifaceted applications, from providing a barrier against harsh conditions to being a dietary supplement, underscore its status as a vital and cherished natural resource.

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What are the Growth Prospects and Trends in the Argan Oil Industry?

The rising popularity of organic personal care products and the increasing awareness regarding the benefits of natural ingredients are propelling the market growth of Argan oil. Moreover, the demand for comprehensive benefits that encompass moisturizing, anti-aging, and hair strengthening attributes due to the multifaceted nature of personal care is serving as a significant growth-promoting factor. Besides this, the efficacy and quality of Argan oil products are being considerably augmented by the integration of cutting-edge technologies such as cold-pressing and filtration, enhancing the purity and potency, thereby amplifying market expansion.

In addition to this, regulatory authorities are increasingly instituting stringent guidelines to ensure the authenticity and organic certification of Argan oil, thus reinforcing consumer trust and market integrity. Technological innovations in the extraction and processing of Argan oil are contributing to the development of more accessible and effective product lines. This progress is attracting both connoisseurs of organic personal care products and those newly acquainted with the virtues of Argan oil, hence widening the market’s reach. The recognition of the protective properties of Argan oil against environmental stressors, such as pollution and sun damage, is acting as a pivotal driving force for the flourishing Argan oil industry. Furthermore, the emphasis on customer satisfaction and transparent labeling has spurred the introduction of innovative packaging solutions and educational marketing, aligning with the informed preferences of global consumers and fostering a positive market outlook globally.

Who are the Key Players Operating in the Argan Oil Market?

The competitive landscape of the industry has also been examined along with the profiles of the 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.

What is Included in Market Segmentation?

The report has categorized the market based on type, form, application, distribution channel and region.

Breakup by Type:

  • Conventional
  • Organic

Breakup by Form:

  • Absolute
  • Blend
  • Concentrate

Breakup by Applications:

  • Personal Care and Cosmetics
  • Medical
  • Aromatherapy
  • Food
  • Home Cleaning
  • Others

Breakup by Distribution Channel:

  • B2B
  • B2C
    • Supermarkets and Hypermarkets
    • Specialty Stores
    • Online Stores
    • Others

Regional Analysis:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

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Key Highlights of The Report:  

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Market Trends
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain Analysis
  • 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.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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