The Argan Oil Market was at US$ 300 Million in 2021 and is growing to approx US$ 750 Million by 2030, with a CAGR growth of 10% between 2022 and 2030.

SANDY, UTAH, UNITED STATES, January 8, 2023 /EINPresswire.com/ -- According to the study, The Global Argan Oil Market was estimated at USD 300 Million in 2021 and is anticipated to reach around USD 750 Million by 2030, growing at a CAGR of roughly 10% between 2022 and 2030.

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Argan Oil Market: Overview

Argan oil can be extracted manually or mechanically from the kernels of argan tree fruits. Previously, oil was manually removed from the kernels. But owing to advances in machinery, time has been saved, and high-quality products have been guaranteed. Based on the method of extraction, argan oil is separated into two types: edible argan oil and cosmetic argan oil. After extraction, argon oil has a medium to pale yellow tint due to a filtration process. Experts are studying argan oil to learn more about its advantages. The food, pharmaceutical, and nutraceutical industries use it extensively. The produced oil is mixed in concentrated form with various modifications.

Argan Oil Market: Growth Drivers

Rising product demand from a number of end-use industries, including the food & beverage, cosmetics, and medical sectors, explains the increase. It has become one of the most well-liked products, particularly in the cosmetics and personal care industries. This can be attributed to its innovative properties, which also contain notable antioxidant and anti-inflammatory content as well as other noteworthy benefits for skincare and haircare.

Men’s grooming products like beard & hair oil and waxes infused with argan, essential oils, and shower gels have become more popular over the past few years. Organic items are entirely devoid of any possibly harmful substances. Due to rising consumer knowledge of the numerous advantages of organic personal care products over their synthetic counterparts, there has been an increase in demand for these products over the past several years.

Customers are paying more attention to how they look and value having healthy-looking and youthful skin. The demand for natural cosmetics and personal care products is predicted to rise as a result of this trend, which will help the global argan oil market.

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Key Insights:

A) As per the analysis shared by our research analyst, the Argan Oil market is estimated to grow annually at a CAGR of around 10% over the forecast period (2022-2030).
B) In terms of revenue, the Argan Oil market size was valued at around USD 300 Million in 2021 and is projected to reach USD 750 Million by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) It is projected that rising demand from the food, cosmetics, and medical industries will fuel the argan oil market expansion. There has been a restricted supply of the product because production is only permitted in the Moroccan region due to the local climate, but demand is growing quickly.
D) All potentially harmful ingredients are completely absent from organic products. Over the past several years, demand for organic personal care products has surged as a result of growing consumer awareness of the many benefits these products have over their synthetic equivalents.
E) Argan oil is a key component in the personal care and cosmetics industries. The ingredient is increasingly common in various cosmetic formulae, including serums, lip balms, lip tints, and face oils, due to its anti-aging properties.

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Regional Landscape

The organic personal care and cosmetics business in Asia Pacific is showing great promise. The biggest regional market is China, which is followed by Japan and India. Due to the existence of powerful indigenous corporations like Aurobindo Pharma, Sun Pharma, and Lupin, India is one of the most preferred countries for making affordable pharmaceuticals. Argan oil producers in the area should benefit from the creation of novel organic medications for the treatment of diseases like cancer, cardiovascular disease, hormone imbalances, gastrointestinal problems, anti-infectives, anti-aging, and stress reduction.

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Key Players

OLVEA Morocco
Zineglo, Saadia Organics
ARGANisme Cosmetics S.A.R.L
Essence Of Argan
Argan Diva
Biopur
Josie Maran Cosmetics
Nadifi Argan
Argan Liquid Gold

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The Argan Oil Market is segmented as follows:

By Type

Organic
Conventional

By Form

Concentrate
Blend
Absolute

By Application

Medical
Personal care & Cosmetics
Aromatherapy
Cleaning and Home
Food
Others

By Distribution Channel

B2B
B2C

By Geography

North America

The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe

Asia Pacific

China
India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific

Latin America

Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa

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