Argan Oil Market-Overview

The demand for exotic ingredients in beauty products has risen incrementally, which is assessed to spur the argan oil market in the coming period. The market's report is efficiently analyzed as per MRFR, which provides outlooks for the global markets. The market is assessed to spur a 7.1% CAGR to achieve an income of USD 676.51 million by the conclusion of 2024.

The improved spending potential of end-users is estimated to enhance the progress of the argan oil market share in the forecast period. Also, the improved understanding of the product ranges fortified with argan oil is estimated to benefit the argan oil market share in the upcoming period.

Segmental Analysis

The segmental appraisal of the argan oil market is conducted on the basis of category, application, and regions. The category segment of the argan oil market consists of conventional and organic. The application segment of the argan oil market consists of food, cosmetics & personal care and pharmaceuticals & nutraceuticals. The regions segment of the argan oil market consists of Europe, North America, Asia-Pacific, and other regional markets.

Competitive Analysis

The market is likely to be lifted by the reformative trends that are shaping the global market. The improvement in the rate of innovation is estimated to further open up new aspects of the market. The capitalization by market companies to establish robust e-commerce and retail channels is projected to motivate the development of the market. The development of robust delivery chains is predicted to enhance the pace of progress in the upcoming months. The financial stimulus being provided by many government bodies to regenerate their national markets is estimated to spur the global progress rate. The agreement of various international trade deals is estimated to further foster the expansion of the market. The engagement of technology and strategy-based approach is likely to ensure better chances for success in the future. The increased emphasis on high-revenue decision-making in the market is estimated to prompt its quicker return to normalcy in the coming months.

The famous contenders in the argan oil market are Frontier Natural Products Co-op Inc. (US), ARGANisme Cosmetics SARL (Morocco), Zit Sidi Yassine Sarl (Morocco), Biopur Sarl (Morocco), Purus International (Morocco), Malak Bio (Morocco), Olvea Group (France), L'OCCITANE Group-Melvita (France), Nadifi Argan Oil (Morocco), Argan Liquid Gold (UK), Zineglob Ltd (Morocco), John Masters Organics Inc (US), Vima Souss (Morocco), Conair Corporation (US), and Les Bios d'Agadir (Morocco). 

Regional Overview

The regional examination of the argan oil market consists of Europe, North America, Asia-Pacific, and other regional markets. The European regional market is anticipated to govern the argan oil market owing to developing awareness about the wellbeing benefits of argan oil among customers and growing beauty realization. Also, noticeable market companies using argan oil in personal care products and food products in the European region are boosting the argan oil market growth. The broader scale of application of argan oil in cosmetics, baked food, desserts, and aromatherapy is further enhancing the advance of the argan oil market in the region. The evolving application of argan oil in anti-aging product preparations is estimated to strengthen argan oil market growth in the Asia-Pacific regional market. The improvement in awareness about the advantages of argan oil among customers is further propelling the argan oil market growth. The Asia-Pacific region’s argan oil market is anticipated to record the highest CAGR in the argan oil market in the forecast period.

Industry Updates:

May 2021 Moroccan Gold Series, the groundbreaking salon haircare brand, has disclosed a luxurious new packaging restructure for its successful Argan Collection hair treatment and styling line. In addition, the indie beauty brand reformed its e-commerce site to highlight all three offerings as well as philosophy, brand history, quality, and exclusive natural ingredients.

June 2021 Aloisia Beauty, the authentic, transparent, and cruelty-free K-Beauty skincare product prepared with clean, safe, and effective ingredients from science and nature, is debuting two novel face cleansers to rinse away dirt, makeup, and other impurities from the skin: REFRESH Jade Purifying Cleanser, a water-based cleanser and NOURISH Oil Cleanser, an oil-based cleanser. The deep cleansing action and nurturing advantages of Argan Oil, Olive Oil, Grapeseed Oil, Apricot Kernel Oil, Hemp Seed Oil, Jojoba Oil. Evening Primrose Oil and Flaxseed Oil along with Vitamin E and other clean, efficient ingredients.

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