Argan Oil Market by Preparation Method, Form, Grade, End User, Geography, Competitive Analysis

Global argan oil market is growing continually, witnessing a rising demand. Market growth attributes to the increasing consumption of argan oil in cosmetics and personal care industries. Besides, factors such as increasing awareness for health benefits that argan oil offers and rising beauty consciousness among consumers boost the growth of the market. Moreover, growing usages of argan oil in many baked products, frozen desserts, and sweet & savory snacks escalate the market growth.

Market Research Future (MRFR), in its recent report on COVID-19 impacts on the global argan oil market, states that the market is estimated to reach USD 676.51 MN by 2024. In its COVID-19 analysis, MRFR also asserts that the global argan oil market would register 7.1% CAGR during the forecast period (2019 -2024).  Argan oil is extensively used in food and beverages to add flavor. Increasing consumer preference for flavored food items is propelling the market growth excellently.

Argan oil possesses antioxidant properties and omega-6 & omega-3 fatty acids, vitamin E, and triterpenoids, increasing its usage in products to enhance skin health and hair growth. Additionally, the medicinal properties of argan oil, such as anti-inflammation and moisturizing properties, increase its consumption to treat acne and stretch marks. Argan oil is also increasingly used in anti-aging products. Cumulatively led by these factors, the argan oil market is expected to garner exponential traction over the estimated period.

Substantial investments made by industry players to improve extraction techniques play a causal role in market development, improving the quality of the oil. Food and beverage is the second-largest end-use industry of argan oil after personal care products. Rise in the global population and economy are some of the major factors triggering the growth of the global argan oil market. Additionally, the growing production of argan oil due to the increasing government initiatives is positively impacting market growth.

Global Argan Oil Market   - Segments

The report is segmented into three dynamics;

By Category          : Organic and Conventional.

By Application     : Food (Dairy & Frozen Dessert, Bakery & Confectionary, Sweet & Savory Snacks, others), Cosmetics & Personal care, and others.

By Regions            : Americas, Europe, Asia Pacific, Middle East & Africa, and Rest-of-the-World. 

Global Argan Oil Market   - Regional Analysis

Europe dominates the global argan oil market. The largest market share attributes to the increasing beauty consciousness and raising awareness about the health benefits of argan oil among demographics. Besides, the presence of prominent market players and increasing usages of argan oil in food products and personal care products in the region drive the market growth. Wider application of argan oil in bakery products, cosmetics, and aromatherapy products boosts market growth in the region.

North America stands second in the global argan oil market. The market growth attributes to the increasing awareness among consumers about the goodness of argan oil and the growing demand for natural and skin health benefitting ingredients. Industry players operating in the region are increasingly focusing on the manufacturing and distribution channels to make argan oil accessible to customers worldwide. The North American argan oil market is estimated to create a substantial revenue pocket over the assessment period.

The Asia Pacific region accounts for a considerable share in the global argan oil market. Factors such as the growing application of argan oil in anti-aging product formulation and raising awareness among consumers are anticipated to fuel market growth. Moreover, the growing demand for argan oil from the cosmetics & personal care and food & beverage industry fosters the growth of the market. The APAC Argan oil market is expected to register the highest CAGR during the forecast period. 

Global Argan Oil Market   - Competitive Analysis

Highly competitive, the global argan oil market appears fragmented, with several well-established players forming a competitive landscape. To gain a larger competitive share, industry players incorporate strategic initiatives such as mergers & acquisitions, collaboration, expansion, and product/technology launch. Argan oil manufacturers make substantial investments to drive RD activities for advent derivation techniques and advance their current extracting technologies. 

They also invest heavily to expand their footprints in the global market by forming a strategic partnership or collaboration with distributors. End-use industry players are increasingly focusing on R&D to develop new and innovative products containing argan oil.

Major Players:

Players leading the global argan oil market include ARGANisme Cosmetics Sarl (Morocco), Olvea Group (France), Biopur Sarl (Morocco), Purus International (Morocco), Zineglob Ltd (Morocco), Malak Bio (Morocco), Nadifi Argan Oil (Morocco), L'occitane Group-Melvita (France), Argan Liquid Gold (UK), John Masters Organics Inc (US), Frontier Natural Products Co-op Inc. (US), Zit Sidi Yassine Sarl (Morocco), Conair Corporation (US), Vima Souss (Morocco), and Les Bios D'Agadir (Morocco), among other.

Access Report Details @ https://www.marketresearchfuture.com/reports/argan-oil-market-3752

Industry/ Innovation/ Related News

June 18, 2020 ---- Mom Bomb, a bath and body company, announced its plan to launch a private label bath and body goods brand, Squeaky, on Amazon by July 2020. The debuts of line Squeaky will be exclusively available on Amazon. Mom Bomb worked with Amazon for a whole year to create this brand that would fortify the demand in the marketplace for natural, clean, and philanthropy focused brands.

Mom Bomb is retail and wholesale product company that delivers luxurious bath products, including an indulgent combination of CBD, organic Argan Oil, and other organic essential oils to create a soothing, relaxing bath experience. 

NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

Contact us:

Market Research Future (part of Wantstats Research and Media Private Limited),

99 Hudson Street,5Th Floor, New York,

New York 10013,

United States of America


Comments

Post a Comment

Popular posts from this blog

Car Air Purifier Market Size Insights Report 2021-2027 With Major Impacting Factors And Investment Study

Market Scope Market Research Future (MRFR) suggests in its new exhaustive study that the Car Air Purifier Market Size will touch USD 12,105.7 million by the end of 2027. Also, the market size is expected to soar at a rate of 7.58% from 2020 to 2027. Major Boosters and Restraints The deteriorating condition of the environment along with the surging toxicity levels has been favorable for car air purifiers, in terms of sales. The expanding private and public infrastructure, in line with soaring number of large-scale construction projects has had a negative impact on the environment, thereby raising the need for car air purifiers. Mounting air pollution and related concerns across China, India, the U.S., and U.K., would also boost the adoption rate of car air purifiers over the ensuing period.  Booming sales of luxury vehicles, particularly in developing countries in line with the rising purchasing power of consumers should also benefit the global industry. To this end, high ef...
Read more

Key Space Battery Market Players, Strategies and Resources to Grow Your Company, 2030

Market overview    Space batteries are used for space applications such as the launching of vehicles, crew return vehicles, equipment, landers, rovers, and on the International Space Station. The space batteries are used as the energy storage devices or as a secondary source of power. There are a number of space missions that demand the use of space batteries. The companies are working towards the growth of high-speed Internet across the world by deploying satellites.   The lithium-ion batteries that are present in the space batteries that are durable and reliable. There has been a rise in the number of space missions around the world with companies that are planning to launch thousands of satellites by the year 2030, that have been deployed in the end of 2021. The designing of small batteries and the various space applications are some of the challenges that are faced by the market players in the global space battery market .   The global space batte...
Read more

Shoe Care Products Market Players, Type, Dynamics, and Industry Analysis by 2030

Market Research Future Insights According to MRFR analysis, the global shoe care products market is expected to register a CAGR of 3.3% from 2023 to 2030 and hold a value of over USD 0.69 billion by 2030. The Shoe Care Products Market growth promises good investment returns to investors during the continuing forecast period. Nonstop developments and their regular need is leading the market operations towards upright growth during the forecast period. The arrival of e-commerce has further the chain of benefits as it is an easier mode that gives the target audience reliable visions and accurate access to products based on their preference and taste. wearing brands is measured as a luxury amongst many global regions. Since the pandemic was presented to the world, luxury brands were facing practical restrictions owing to the lockdown and unattainability of skilled labor that hindered the quality goals of the market. Also, a decay in the purchasing power of people resulted in a halt...
Read more