Increasing customer beauty awareness is fueling global demand development for argan oil. Argan oil is used for adding flavor in many baked foods, frozen sweets, and sweet & savory snacks, and in the current trend, customers are more inclined towards flavored food goods, which propels the growth of the argan oil industry.
Argan Oil Market Size – USD 220.87 Million in
2019, Market Growth - CAGR of 10.7%, Market Trends – High demand from
developing nations.
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 to sustainable goods. Argan oil
industry players are interested in R&D activities to develop the extraction
system because this is a crucial phase in the development cycle. Scientists
recently acquired argan oil utilizing supercritical fluid extraction, and no
improvements in the product's consistency and physicochemical parameters have
been established. The system is, therefore, already in its infancy and is yet
to play a significant role in raising the manufacturing over the forecasted
timeframe.
Health consciousness, combined with a fat-free diet, drives up
demand for balanced vegetable oil like argan oil. Besides, the food industry is
seeing a rise in demand owing to the growing priority provided to keeping a
balanced diet. Argan oil tends to regulate the cholesterol rate, thus
increasing the human body's energy rates. Technological developments often lead
significantly to the improvement of both chemical and microbiological
properties and hence have a beneficial impact on the overall market for the
drug. The demand for argan oil is fuelled by the growing interest in
characteristic-based fixations, especially in restore and hair mind products.
Key
participants include 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
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.
- The
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.
To
identify the key trends in the industry, click on the link below: @ https://www.reportsanddata.com/report-detail/argan-oil-market
For the purpose of this report, Reports and Data have
segmented into the global Argan Oil Market on the basis of type, form,
application, and region:
Type Outlook (Volume, Kilo Tons; 2017-2027)
(Revenue, USD Million; 2017-2027)
- Conventional
- Organic
Form Outlook (Volume, Kilotons; 2017-2027,
Revenue, USD Million; 2017-2027)
- Absolute
- Concentrate
- Blend
Application Outlook (Volume, Kilo Tons; 2017-2027)
(Revenue, USD Million; 2017-2027)
- Personal
Care & Cosmetics
- Medical
- Aromatherapy
- Food
Processing
- Cleaning
and Home
- Others
Regional Outlook (Volume, Kilo Tons; 2017-2027)
(Revenue, USD Million; 2017-2027)
- North
America
- Europe
- Asia
Pacific
- MEA
- Latin
America
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Table of Content:
Highlights
of the TOC:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Argan Oil Market Segmentation & Impact Analysis
4.1. Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.3. Market restraints analysis
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
Chapter 5. Competitive Landscape
5.1. Market Revenue Share By Manufacturers
5.2. Manufacturing Cost Breakdown Analysis
5.3. Mergers & Acquisitions
5.4. Market positioning
5.5. Strategy Benchmarking
5.6. Vendor Landscape
Continue……
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