**Increasing customer beauty awareness is fueling global demand development for argan oil. Argan oil is used for adding flavor in many baked foods, frozen sweets, and sweet & savory snacks, and in the current trend, customers are more inclined towards flavored food goods, which propels the growth of the argan oil industry.
**Argan Oil Market Size – USD 220.87 Million in 2019, Market Growth - CAGR of 10.7%, Market Trends – High demand from developing nations.
The global Argan Oil Market is forecast to reach USD 499.90 Million by 2027, according to a new report by Reports and Data. Argan oil is gaining prominence on the global market, as it includes lupeol, omega-3, and omega-6 fatty acids, antioxidant tocopherols, beta amyrin, butyrospermol, and triterpenoids, which play an essential role in enhancing skin and hair efficiency. It has enabled businesses, including aromatherapy, medicine, and makeup producers to incorporate argan oil into their final goods. Foremost industry leaders concentrate on enhancing product consistency in their personal care and beauty items to support good hair and skin. Such policies are projected to boost consumer demand in the cosmetics application market. In turn, market consumption is also seeing a boom owing to a change in customer preference to sustainable goods. Argan oil industry players are interested in R&D activities to develop the extraction system because this is a crucial phase in the development cycle. Scientists recently acquired argan oil utilizing supercritical fluid extraction, and no improvements in the product's consistency and physicochemical parameters have been established. The system is, therefore, already in its infancy and is yet to play a significant role in raising the manufacturing over the forecasted timeframe.
Health consciousness, combined with a fat-free diet, drives up demand for balanced vegetable oil like argan oil. Besides, the food industry is seeing a rise in demand owing to the growing priority provided to keeping a balanced diet. Argan oil tends to regulate the cholesterol rate, thus increasing the human body's energy rates. Technological developments often lead significantly to the improvement of both chemical and microbiological properties and hence have a beneficial impact on the overall market for the drug. The demand for argan oil is fuelled by the growing interest in characteristic-based fixations, especially in restore and hair mind products.
**Key participants include Zidrop Argan Oil, Purus International, Organica Group Limited, Argane Aouzac, Kamakhya Bottlers, ARGANisme, Malakbio, ARGANBULK, Zineglob, and Arganfarm, among others.
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Further key findings from the report suggest
Based on the type, organic generated a revenue of USD 99.79 million in 2019 and believed to grow considerably with a CAGR of 10.5% in the forecast period due to the rising popularity from cosmetics companies around the world is distinguished by the use of biobased fertilizers, like green manure, bone meal, and manure composting, to improve the crop yield.
The blends expected to grow with a CAGR of 10.8% in the forecasted period due to the increasing market demand for blends in topical applications coupled with the increased use of argan oil blends in the cosmetics field.
The medical application is the major contributor to the Argan Oil Market. The medical sectors of the North America region are the major shareholder of the market and held around 28.7% of the market in the year 2019, owing to its superior characteristics antioxidant, anti-inflammatory, aphrodisiac, analgesic effects, and anti-proliferative for healing skin wounds, bruises, and abrasions at a quicker pace.
The North America dominated the market for Argan Oil in 2019, attributable to the increasing use of biobased personal care, beauty, and aromatherapy goods. North America region held approximately 32.6% of the market, followed by the Asia Pacific, which contains around 28.9% market in the year 2019.
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For the purpose of this report, Reports and Data have segmented into the global Argan Oil Market on the basis of type, form, application, and region:
Type Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Million; 2017-2027)
Form Outlook (Volume, Kilotons; 2017-2027, Revenue, USD Million; 2017-2027)
Application Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Million; 2017-2027)
Personal Care & Cosmetics
Cleaning and Home
Regional Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Million; 2017-2027)
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Table of Content:
Highlights of the TOC:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Argan Oil Market Segmentation & Impact Analysis
4.1. Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.3. Market restraints analysis
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
Chapter 5. Competitive Landscape
5.1. Market Revenue Share By Manufacturers
5.2. Manufacturing Cost Breakdown Analysis
5.3. Mergers & Acquisitions
5.4. Market positioning
5.5. Strategy Benchmarking
5.6. Vendor Landscape
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Sr. Research Analyst at Reports and Data