Over the forecast period of 2021 to 2031, the worldwide argan oil market is predicted to grow at a CAGR of roughly 7% in terms of value. By 2031, cosmetic-grade argan oil will account for almost 80% of the market.
Argan oil is a kind of oil obtained from argan trees, mostly found in Morocco’s arid and semi-arid regions. Argan oil is divided into two varieties based on how it is extracted: culinary argan oil plus cosmetic argan oil.
The constant rise in demand for high-end beauty products has resulted in a global increase in argan oil usage. Consumer desire for organic herbal items over fake chemical products is also propelling the growth of argan oil across areas.
Some of the Argan oil market players are Olvea Group of France, ARGANisme Cosmetics S.A.R.L of Morocco, Biopur Sarl of Morocco, Zineglob ltd of Morocco, Purus International of Morocco, Malak Bio of Morocco, L’OCCITANE Group Melvita of France, Nadifi Argan oil of Morocco, Argan Gold Liquid of United Kingdom, Frontier Natural Products Co-op ltd of United States, John Masters Organics Inc of United States, Vima Seuss of Morocco, Conai Corporation of United States and Zit Siddi Yassine Sarl of Morocco.
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By Type- The argan oil market is divided into application, category, and geography. According to Baes, the global market is divided into conventional and organic segments. Depending on the application, the argan oil market is divided into food, medicines, cosmetics, nutraceuticals, and other beauty goods. The bakery and confectionery section of the food division is further divided into sweet and savoury dishes, dairy and frozen desserts, etc.
According to argan oil market research, the market is well-known in emerging areas of North America, Europe, Asia Pacific, and other parts of the world. Canada, the United States, and Mexico are the three countries that make up the North American market. The European market is divided into five regions: the United Kingdom, France, Italy, Germany, Spain, and the rest of Europe. According to the argan oil market forecast, such division aids market expansion. The Asia-Pacific region encompasses India, China, Australia, New Zealand, Japan, and the rest of Europe.
By technology- In the past, argan oil was extracted from kernels, but modern equipment is now employed thanks to technological improvements, saving time and ensuring high-quality argan oil manufacturing. Argan oil was connected to numerous advanced features such as anti-inflammatory and many more due to technological advancements. Men’s grooming products were also discovered as a result of the advancement. Hair products, shower gels, and beard oil are among them. Skin creams and waxes are also among the cargo oil goods.
According to the argan oil market prognosis, North America is the most dominating region, accounting for a substantial portion of the argan oil market share. People in this country have a strong desire to use cosmetics. Argan oil is used in aromatherapy to strengthen the body, mind, plus spirit of the individual. This region’s residents choose to have an aromatherapy massage. It aids in the fight against infections and sustains the body’s homeostasis. They can be found in various places, including internet stores and speciality stores. Commercial-scale manufacturing is significantly more prevalent in the Middle East and Africa.
Argan oil penetration has expanded dramatically over the last decade, as well as the advent of argan oil-infused cosmetics and skincare items has driven industry expansion. By 2031, the market is predicted to grow at nearly 7?GR. Leading market companies heavily spend and allocate resources to increase the manufacturing of cosmetic-grade argan oil and strengthen their supply and marketing channels.
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