Argan Oil Market Size, Product Trends, Key Companies, Revenue Share Analysis, 2021–2027 | Reports, And Data
The global Argan Oil Market is forecast to reach USD 499.90 Million by 2027, according to a new report by Reports and Data. Argan oil is gaining prominence on the global market, as it includes lupeol, omega-3, and omega-6 fatty acids, antioxidant tocopherols, beta amyrin, butyrospermol, and triterpenoids, which play an essential role in enhancing skin and hair efficiency. It has enabled businesses, including aromatherapy, medicine, and makeup producers to incorporate argan oil into their final goods. Foremost industry leaders concentrate on enhancing product consistency in their personal care and beauty items to support good hair and skin. Such policies are projected to boost consumer demand in the cosmetics application market. In turn, market consumption is also seeing a boom owing to a change in customer preference for sustainable goods. The report presents accurate details on market size and revenue growth rate over the forecast period. It expounds on the current industry scenario and offers a detailed assessment of the latest and emerging market trends. The report contains key industry statistics presented in a tabular format to give readers an exclusive picture of the global Argan Oil market.
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The latest industry analysis report offers in-depth information regarding the key segments and sub-segments of the global Argan Oil industry and emphasizes the current pandemic situation that has significantly disrupted the industry’s growth trend. Key dynamics impacting the market growth include drivers, restraints, opportunities, supply & demand ratios, emerging market trends, technological innovations, and value chain analysis. The report further highlights some major challenges, imminent risks and threats, and stringent government policies and regulations that are expected to impede market growth during the forecast period. The report is aimed at enabling readers to gain deep insights into the global Argan Oil market and its core mechanism and capitalize on the favorable market growth prospects. It further offers a concise summary of the Argan Oil market’s intensely competitive landscape and lists down the leading players in the market. This section of the report also highlights the strategic initiatives undertaken by these players for long-term business growth.
Argan Oil Industry Overview
The global materials & chemicals industry revenue growth can be majorly attributed to increasing demand for essential consumer goods including soaps, detergents, and beauty & personal care products worldwide, rising preference for sustainable and eco-friendly raw materials, and growing use of advanced chemicals and raw materials in industries including agriculture, food & beverage industries, buildings & construction, automotive, packaging, and manufacturing industries. Other major factors driving the growth of this industry are rising pollution levels, increasing environmental awareness, increasing use of technologically advanced chemicals and materials, and rising demand for organic materials.
Top Companies Profiled in the Report:
Zidrop Argan Oil, Purus International, Organica Group Limited, Argane Aouzac, Kamakhya Bottlers, ARGANisme, Malakbio, ARGANBULK, Zineglob, and Arganfarm, among others.
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Further key findings from the report suggest
Based on the type, organic generated a revenue of USD 99.79 million in 2019 and is believed to grow considerably with a CAGR of 10.5% in the forecast period due to the rising popularity from cosmetics companies around the world is distinguished by the use of biobased fertilizers, like green manure, bone meal, and manure composting, to improve the crop yield.
The blends expected to grow with a CAGR of 10.8% in the forecasted period due to the increasing market demand for blends in topical applications coupled with the increased use of argan oil blends in the cosmetics field.
The medical application is the major contributor to the Argan Oil Market. The medical sectors of the North America region are the major shareholder of the market and held around 28.7% of the market in the year 2019, owing to its superior characteristics antioxidant, anti-inflammatory, aphrodisiac, analgesic effects, and anti-proliferative for healing skin wounds, bruises, and abrasions at a quicker pace.
North America dominated the market for Argan Oil in 2019, attributable to the increasing use of biobased personal care, beauty, and aromatherapy goods. North America region held approximately 32.6% of the market, followed by the Asia Pacific, which contains around 28.9% market in the year 2019.
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Argan Oil Market Segmentation Based on Type:
Conventional
Organic
Argan Oil Market Segmentation Based on Application:
Personal Care & Cosmetics
Medical
Aromatherapy
Food Processing
Cleaning and Home
Others
Argan Oil Market Segmentation Based on Form:
Absolute
Concentrate
Blend
Global Argan Oil Market Segmentation: Regional Outlook
North America
Latin America
Asia Pacific
Europe
Middle East & Africa
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