About Argan Oil
Argan oil refers to plant oil produced from the kernels of the Argan tree. It is exclusively produced in southwestern Morocco. It has multiple pharmacological properties hence used in the treatment of skin inflammation, acne, eczema, wrinkles, psoriasis, joint pain, and others. In addition, it is also used in the cosmetics and personal care products as it has antioxidants properties. Hence, cosmetic manufacturers are focusing on adding Argan oil based product to enhance their product portfolio. For instance, Lakme launched new Argan oil based product range, Lakme Absolute. Moreover, growing awareness among customers about the benefits of Argan oil expected to fuel the market growth during the forecasted period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 7.12% |
Analyst at AMA Research estimates that Morocco Vendors will contribute the maximum growth to Global Argan Oil market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
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), Argan Liquid Gold (United Kingdom), Frontier Natural Products Co-op Inc. (United States), John Masters Organics Inc. (United States), Zit Sidi Yassine Sarl (Morocco), Vima Souss (Morocco) and Les Bios d’Agadir (Morocco) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Nadifi Argan (United States), Sidi Yassine (Morocco), Marogonia (United States), Amour Natural (United Kingdom), BioAdorates (Morocco) and Mabioma (Morocco).
Segmentation Overview
AMA Research has segmented the market of Global Argan Oil market by Type (Culinary Argan Oil and Cosmetic Argan Oil), Application (Food [Bakery & Confectionery, Dairy & Frozen Dessert, Sweet & Savory Snacks, Others], Pharmaceuticals & Nutraceuticals, Cosmetics & Personal care and Others) and Region.
On the basis of geography, the market of Argan Oil has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Sales Channel, the sub-segment i.e. Franchisee Outlet will boost the Argan Oil market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Source, the sub-segment i.e. Natural will boost the Argan Oil market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Advancement in the Extraction Process of the Argan Oil
Market Growth Drivers:
Increasing Demand for Cosmetics with Natural Oils and Growing Awareness about Therapeutic Potential of Argan Oil
Challenges:
Lack of Awareness among the Customers and Availability of Substitute Products
Restraints:
High Cost of Argan Oil and Stringent Government Regulations Regarding Argan Oil
Opportunities:
Growing Online Distribution Channel for the Argan Oil and Increasing Demand from the Developing Economies
“Proper labeling is an important aspect of marketing a cosmetic or personal care product. Labeling is used to help inform consumers of a product's intended use and any related warnings, its ingredients and the net quantity of contents, and its place of manufacture or distribution. The FDA regulates cosmetic labeling under the authority of both the Food, Drug, and Cosmetic Act (FD&C Act) and the Fair Packaging and Labeling Act (FPLA). These laws and their related regulations are intended to protect consumers from health hazards and deceptive practices and to help consumers make informed decisions about the personal care products they purchase.”
Key Target Audience
Argan Oil Processors, Aromatherapy Products Manufacturers, Commercial Research and Development Institutions, Raw Material Suppliers and Distributors, Agricultural Associations and Farmers, Traders, Exporters, and Importers and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.