Argan Oil Market Share, Size, Growth, Opportunity and Forecast 2023-2028

Argan Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A3332

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Market Overview:

The global argan oil market size reached US$ 308.2 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 564.1 Million by 2028, exhibiting a growth rate (CAGR) of 9.9% during 2023-2028.

Argan oil refers to an organic compound extracted from the kernels of the Argan tree. It is a rich source of vitamin A and E, antioxidants, triterpenoids and omega-6 fatty and linoleic acids. The oil is commercially produced in concentrated, absolute and blended variants, which are used in culinary and cosmetic applications. It can either be applied topically or ingested in the form of a supplement capsule to provide various health benefits, such as treating acne, skin irritation, stretch marks and signs of aging and moisturizing the skin. As a result, the oil is widely used as a key ingredient in various premium-quality personal care products, including lotions, creams, shampoos, soaps and conditioners.

The global argan oil market is primarily being driven by the increasing product utilization in the cosmetic and food and beverage industries. Argan oil is widely used in the manufacturing of various baked products and dairy and frozen desserts across the globe. Furthermore, the widespread adoption of argon oil in the production of pharmaceutical and nutraceutical products is also driving the market growth. Argan oil exhibits various anti-inflammatory, anti-proliferative, antioxidant and analgesic properties, due to which it is extensively being used to produce drugs and medicines for skin-related and other medical conditions. Additionally, various product innovations, such as the launch of organic argan oil packaged in recyclable containers, are acting as other growth-inducing factors. In line with this, it is harvested by using bio-based fertilizers, green manure, bone meal and compost manure for sustainable cultivation and sourcing of the oil. Other factors, including increasing utilization of argan oil in aromatherapy, along with rising expenditure capacities of the consumers, are anticipated to drive the market further.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global argan oil market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, form, application and distribution channel.

Breakup by Type:

Conventional
Organic

Breakup by Form:

Absolute
Blend
Concentrate

Breakup by Application:

Personal Care and Cosmetics
Medical
Aromatherapy
Food
Home Cleaning
Others

Breakup by Distribution Channel:

B2B
B2C
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Stores
- Others

Breakup by Region:

North America
- United States
- Canada
Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Arganbulk, Argane Aouzac, Arganfarm sarl. au., ARGANisme, Kamakhya Bottlers, Konouz Rayyan (PURUS International), Lipidine, Malakbio, OLVEA Morocco, Organica Group Ltd., Zidrop Argan Oil and Zineglob Ltd.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Million
Segment Coverage	Type, Form, Application, Distribution Channel, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Arganbulk, Argane Aouzac, Arganfarm sarl. au., ARGANisme, Kamakhya Bottlers, Konouz Rayyan (PURUS International), Lipidine, Malakbio, OLVEA Morocco, Organica Group Ltd., Zidrop Argan Oil and Zineglob Ltd.
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The global argan oil market was valued at US$ 308.2 Million in 2022.

We expect the global argan oil market to exhibit a CAGR of 9.9% during 2023-2028.

The sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of argan oil.

The rising demand for argan oil in the pharmaceutical sector for skin-related and other medical conditions, owing to its various anti-inflammatory, anti-proliferative, antioxidant and analgesic properties, is primarily driving the global argan oil market.

Based on the type, the global argan oil market has been divided into conventional and organic, where conventional currently exhibits a clear dominance in the market.

Based on the form, the global argan oil market can be categorized into absolute, blend, and concentrate. Currently, absolute accounts for the majority of the global market share.

Based on the application, the global argan oil market has been segregated into personal care and cosmetics, medical, aromatherapy, food, home cleaning, and others. Among these, aromatherapy currently holds the largest market share.

Based on the distribution channel, the global argan oil market can be bifurcated into B2B and B2C. Currently, B2B exhibits a clear dominance in the market.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America, including the United States currently dominates the global market.

Some of the major players in the global argan oil market include Arganbulk, Argane Aouzac, Arganfarm sarl. au., ARGANisme, Kamakhya Bottlers, Konouz Rayyan (PURUS International), Lipidine, Malakbio, OLVEA Morocco, Organica Group Ltd., Zidrop Argan Oil, and Zineglob Ltd.

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