Global Argan Oil Market 2018-2022
About Argan Oil
Argan oil is extracted from the kernel of argan fruit. Argan trees are widespread in Morocco. The increasing demand for non-timber products has essentially driven the need to preserve local conservatives. Argan trees are among those trees that have gained significant traction. The growing inclination of consumers toward bio-based and botanical ingredients in various products ranging from food: cosmetics, and pharmaceuticals is driving the demand for argan oil. The increasing use of argan oil in cosmetics is because of its rich properties that help in nourishing hair and skin. It is used in culinary applications because of its omega fatty acid content that helps in regulating cholesterol. Argan oil used as a food ingredient helps in fighting vitamin deficiency, low metabolism, and heart problems. Increasing use of argan oil in pharmaceutical products has prompted its global demand. These applications have led the manufacturers to develop new formulations using argan oil. In 2017, cosmetics was leading application segment. Growing awareness about the properties of argan oil is creating demand from the cosmetics segment.
Technavio’s analysts forecast the global argan oil market to grow at a CAGR of 20.03% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global argan oil market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of argan oil.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Argan Oil Market 2018-2022
Technavio recognizes the following companies as the key players in the global argan oil market: ARGANisme, Bios Agadir, Biopur, Nadifi Argan, and ZineGlob SARL.
Other Prominent Vendors in the market are: ARGATLAS, Kanta Enterprises, Mountain Dust, and OLVEA.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is global penetration and merchandising. The growth of the global argan oil market is because of worldwide penetration. Though the high production capacity of argan oil is concentrated in Morocco; the consumption of Arm oil is spread globally. Increasing awareness and growing applications of argan oil are creating demand and increasing the global customer base. The penetration of gm oil in the cosmetics market is high. The use of argan oil in food for seasoning is growing as customers are becoming health-conscious and aware of the cholesterol levels that would impact their health. Distribution channels are also creating awareness about the availability of product variants, thus driving the global mall oil market.”
According to the report, one of the major drivers for this market is consumer preference toward natural products. The growing awareness about the benefits of gm, oil has commercialized its use in beauty products. An increasing preference of customers for botanical and herbal ingredients in cosmetics is likely to contribute to the growth of the global argan oil market. Commercialization of argan in the food and cosmetics sectors is driven by the changing habits of individuals. Increasing occurrences of health problems due to consumption of synthetic food have prompted the demand for natural products, thereby driving the demand for arm oil in the food industry.
ARGANisme, Bios Agadir, Biopur, Nadifi Argan, ZineGlob SARL, ARGATLAS, Kanta Enterprises, Mountain Dust, and OLVEA.