Global Argan Oil Market by Type (Organic, Conventional), by Form (Absolute, Concentrate, Blend) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global argan oil market was worth USD 223.9 million in 2019. It is expected to grow at a revenue-based rate of 10.8% between 2020 and 2027. The increase in product demand from many end-use industries, including food, cosmetics and medical, can explain the growth. The product's popularity and favorable regulatory policies in the U.K. and U.S. will likely play a significant role in creating new opportunities for players to enter the market.

The kernels of the argan tree fruit fruits are used to extract oil. This can be done either manually or mechanically. Oil was previously extracted manually from the kernels. The advancements in machinery have made it possible to save time and produce high-quality oil.

Argan oil is a popular product, especially in the cosmetics industry and personal care. Argan oil's advanced properties, such as its high level of antioxidants and anti-inflammatory properties, have led to a rise in popularity for skin care and haircare. In the past few years, men's grooming products like shampoos, beard oils, creams and skin care have seen a significant increase in their use.

Europe is the largest consumer of argan oil worldwide. European consumers are dominated by the cosmetics and personal care industry. The solvent extraction of kernels is the most common method of producing cosmetic grade in Europe. It is used primarily for the preparation and use of anti-wrinkle cosmetic products, such as moisturizers, shampoos, or shampoos. Europe has also been a major player in biopharmaceutical research over the past few years. In the region, for example, several biobased medicines have been manufactured by pharmaceutical companies over the last decade to treat cancer, high blood pressure and diabetes, as well as cardiovascular diseases.

Type Insights

The conventional type is made from the kernels and contains essential fatty acids as well as other nutrients. Argan trees are slow-growing, endemic trees that only grow in the barren lands Morocco. Conventional harvesting is characterised by the use synthetic fertilizers, chemical pesticides, and irrigation water to grow high-yielding varieties. This type is used to make personal care and cosmetics, home cleaning products, and aromatic.

Organic argan oil is the purest form of argan oil and is widely used in aromatherapy. To increase crop yield, organic argan oil harvesting is done using biobased fertilizers like bone meal, green manure and compost manure. This product is considered a luxury product by international cosmetics companies.

Form Insights

Absolute argan oil is a concentrated form that is obtained from the kernels of plants using solvent extraction techniques. This form is made by pulverizing the kernels and then allowing them to be suspended in solvents. After that, the solvents are evaporated to extract oil. Absolute oil is used in perfumery, aromatherapy and cosmetics.

Blended argan oil includes argan oil mixed with vegetable oils and essential oils. The blended form is typically used for cleaning, cooking, and formulations of home products. Moroccan consumers prefer to use traditionally-produced products. This segment is expected to grow due to rising consumer demand for skin care products and increased consumption of argan oil blends within the cosmetics industry.

Application Insights

Argan oil has been gaining popularity in a variety of medical applications due to its anti-inflammatory and antioxidant, anti-proliferative properties, aphrodisiac qualities, and analgesic effects. Argan oil is used to treat skin conditions like chickenpox, eczema and burns as well as diseases such as epilepsy, diabetes, osteoarthritis and atherosclerosis. The product's antibacterial properties make it ideal for treating cuts and skin wounds faster.

Aromatherapy massage has many benefits. Aromatherapy massage can help relax, harmonize, and balance the mind and body. It also boosts immunity to aid various bodily functions and fight infection. Argan oil can also be purchased in cosmetic and food grades for commercial use. The production process of food grade oil is different from that used in cosmetic oils. To make culinary oil, the kernels must be toasted to give them a pleasant aroma and flavor.

Distribution Channel Insights

Because of the limited supply and production, the argan oil market value chains are characterized by a well-established distribution network that ensures consistent product availability around the world. B2B (Business to Business) refers to selling, distributing and trading product via the Internet, wholesalers and value-added distributors. The vast majority of Argan oil producers distribute their products worldwide through logistics and transport partners.

B2C (Business to Consumers) is the selling of products to consumers, end-users or customers through online, door-to-door, specialty, departmental, and supermarket stores. The sales through supermarkets/hypermarkets are anticipated to witness significant growth in Europe, MEA, and North America. Online sales are expected to increase in Asia Pacific, Central and South America. This is due to the convenience of online purchasing.

Regional Insights

North America was the largest consumer of argan oil due to its increased use of biobased cosmetics and personal care products. Aromatherapy healing can improve the health of the mind, body, and spirit. Aromatherapy massage balances the body, reduces stress and aids in fighting infections. Aromatherapy products are now very popular in North America. They can be found in specialty shops as well as online shopping centers.

The only place in the world that is engaged in commercial-scale production is Africa and the Middle East. Argan trees are mostly grown in the semi-arid, arid regions of Essaouira in Morocco and Agadir (Morocco). Argan oil has many benefits. This is why many NGOs and multinational cosmetics firms have stepped in to encourage argan tree planting in the area. L'Oreal and BASF SE have established a sourcing program in order to support the supply chain.

Market Share Insights & Key Companies

Because of the high number of Moroccan business operators, the market is highly fragmented. Many cooperatives are found in Morocco where women work in the production and transportation of the product to refineries. OLVEA and ARGANisme are key manufacturers. Zineglob, PURUS International, Malakbio, Argane Aouzac. Organica Group LTD, Arganfarm. Kamakhya Bottlers. Zidrop Argan Oil.

The export of product to high-growth markets like Europe and North America has created a network between the distributor, trader and manufacturer. Manufacturers have adopted their own business operations for import and export to reduce the prices of middlemen. A significant number of manufacturers are now selling products online to increase product sales and penetrate the consumer market.

Argan Oil Market Report Scope

The Report Covers Certain Segments

This report predicts revenue growth and volume growth at the global, regional and country level. It also provides analysis of industry trends for each sub-segment from 2016 through 2027. Grand View Research divided the global argan oil market report by type, form, application and distribution channel.

• Type Outlook (Volume and Tons; Revenue USD Millions, 2016-2027)

  • Conventional

  • Organic

• Form Outlook (Volume and Tons; Revenue USD Million, 2016-2027)

  • Absolute

  • Mix

  • Concentrate

• Application Outlook (Volume and Tons; Revenue USD Million, 2016-2027)

  • Personal Care & Cosmetics

  • Medical

  • Aromatherapy

  • Food

  • Cleaning and the Home

  • Other

• Distribution Channel Outlook (Volume and Tons; Revenue USD Millions, 2016-2027)

  • B2B

  • B2C

    • Supermarket/Hypermarket

    • Retailer of specialty products

    • Online Stores

    • Other

• Regional Outlook (Volume and Tons; Revenue USD Million, 2016-2027 )

  • North America

    • U.S

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa

    • Morocco

    • GCC

These are the most frequently asked questions about this report

b. Global argan oil market was valued at USD 223.9 Million in 2019, and is forecast to grow to USD 246.2 Million in 2020.

b. Global argan oil markets are expected to grow at 10.8% compound annual growth rate between 2019 and 2027, reaching USD 507.2 million in 2027.

b. With a 35.4% share in 2019, North America dominated argan oil markets. This can be attributed to increased interest in biobased cosmetics and personal care products, as well as aromatherapy products.

b. b.

b. Market growth is being driven by increasing awareness about ingredients like omega 3 and 6 fatty acids, lupeol and beta amyrin as well as antioxidant tocopherols and triterpenoids in argan oil.

Up Market Research published a new report titled “Argan Oil Market research report which is segmented by Type (Organic, Conventional), by Form (Absolute, Concentrate, Blend), By Players/Companies Argane Aouzac, Malakbio, ARGANBULK, Arganfarm, PURUS (Purus International), Organica Group LTD, OLVEA, ARGANisme, Zineglob, Kamakhya Bottlers, Zidrop Argan Oil”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Argan Oil Market Report Segments:

The market is segmented by Type (Organic, Conventional), by Form (Absolute, Concentrate, Blend).

Argan Oil Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Argan Oil Market

Overview of the regional outlook of the Argan Oil Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Argan Oil Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Argan Oil Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Organic

                2. Conventional

                1. Absolute

                2. Concentrate

                3. Blend

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Argan Oil Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
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Reasons to Purchase the Argan Oil Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.