Argan Oil Market Size- By Type, By Form, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2032

Global Argan Oil Market Overview:

According to SPER Market Research, the Global Argan Oil Market is estimated to reach USD 0.89 billion by 2032 with a CAGR of 11.62%.

A substance called argan oil is created from the argan tree's kernels. There are high quantities of linoleic acid, triterpenoids, antioxidants, omega-6 fatty acids, and vitamins A and E. For use in cooking and cosmetics, the oil is marketed in concentrated, absolute, and mixed forms. It has several health benefits and may be used topically or taken orally for the treatment of stretch marks, ageing signs, acne, and skin irritation. As a result, oil may be found in a wide range of high-end personal care items, including creams, lotions, serums, shampoos, conditioners, and soaps. Argan oil has become one of the top products in the cosmetics and personal care industries. This can be attributed to its innovative properties, which also feature notable anti-inflammatory and antioxidant content in addition to additional noteworthy benefits for cosmetics and haircare.

Manual or mechanical methods can be used to extract argan oil from the kernels of argan tree fruits. Moroccan argan trees are accessible. They may flourish and endure in the Mediterranean's semi-desert regions. The argan tree produces a nut with a distinctive oil because of its deep roots and small leaves, which withstand desert winds and water loss. Because of the nutritional, botanical, and ecological benefits of argan oil, it is widely utilised.

Impact of COVID-19 on the Global Argan Oil Market:

The COVID-19 pandemic has an impact on the world's food business since governments have closed pubs and restaurants to stop the virus's spread. Restaurant closures have had a significant impact on allied businesses such as food production, the manufacturing of liquor, wine, and beer, the transportation of food and beverages, fishing, and farming. Due to increased consumer awareness during the COVID-19 pandemic, it is anticipated that there would be an increase in the demand for personal hygiene and homecare goods. The pandemic has increased consumer awareness of the importance of maintaining personal and household hygiene in order to lower the risk of infection.

Personal care items are anticipated to see a rise in demand as a result. When production was stopped as a result of social alienation policies implemented by governments, the COVID-19 outbreak had a negative impact on the world market for argan oil. The supply chain was seriously damaged at this time, which stopped the market from expanding. The first two quarters of last year saw the market in a state of stagnation. Significant cutbacks in worldwide demand also contributed to major revenue declines.

Scope of the report:

Report Metric Details:

• Market size available for years: 2019-2032

• Base year considered: 2021

• Forecast period: 2022-2032

• Segments covered: By Type, By Form, By Application

• Regions covered: Asia Pacific, Europe, Middle East and Africa, North America, Latin America

• Companies Covered: ARGANBULK, Argane Aouzac, Arganfarm sarl. au., ARGANisme, DSM, Lipidine, Malakbio, OLVEA, Organica Group Ltd., Pure Argan Co., Zidrop Argan Oil

Global Argan Oil Market Segmentation:

• By Type: Based on the Type, Global Argan Oil Market is segmented as; Conventional, Organic

• By Form: Based on the Form, Global Argan Oil Market is segmented as; Absolute, Blend, Concentrate

• By Application: Based on the Application, Global Argan Oil Market is segmented as; Personal Care, Medical, Aromatherapy

• By Region: The majority of global income came from North America, which dominated the sector. The expanding appeal of bio-based cosmetics, personal care items, and aromatherapy products was suggested as the cause of this. It is employed in aromatherapy treatments to enhance emotional, mental, and spiritual growth.