Market Research Report
U.S. Argan Oil Market Analysis By Application (Cosmetics, Food, Medical), Competitive Landscape, Trends & Dynamics, Value Chain Analysis, And Segment Forecasts, 2014 - 2025
|Published by||Grand View Research, Inc.||Product code||557272|
|Published||Content info||62 Pages
Delivery time: 2-3 business days
|U.S. Argan Oil Market Analysis By Application (Cosmetics, Food, Medical), Competitive Landscape, Trends & Dynamics, Value Chain Analysis, And Segment Forecasts, 2014 - 2025|
|Published: August 28, 2017||Content info: 62 Pages||
The U.S. argan oil market is expected to reach USD 1.08 billion by 2025, according to a new report by Grand View Research, Inc. Argan oil is a developing industry in the U.S. which is gaining importance on account of its high-performance ingredients. Growing disposable income, demand for branded luxury cosmetics, and preference for organic ingredients is anticipated to augment growth.
Medical is expected to emerge as a significant application segment in the coming years owing to argan oil potential for curing serious diseases such as cancer and arthritis. Unfavorable raw material trends are expected to hinder global industry growth on account of continuously increasing population in Morocco coupled with stable production. The government is making efforts to expand the cultivation. Israel, Mexico, and Algeria have initiated in argan crop cultivation to meet Morocco's argan oil demand.
The widening of distribution channels has made these products readily available to the consumer. Ongoing R&D investments and technological advancements in the area of processing ingredients have been the key factors responsible for driving industry growth over the past few years.
Product integration is the key strategy adopted by competitors in this market. This market has limited supply of raw materials hence provoking a price war among competitors. Argan oil draws its demand from cosmetics, food, and medical industry. The cosmetics segment accounted for the largest market share in 2015. Argan oil is also gaining acceptance in the food industry, where it is used for seasoning salad and as cooking oil in high-end restaurants in the U.S.