Market Overview:

The Global Argan Oil Market Size Is Anticipated To Reach USD 68.96 Million By 2022 And USD 427.05 Million By 2030, Registering A CAGR Of 20.38% During 2022-2030.

Argan oil is a natural substance that comes from the kernels of the argan tree. It has a lot of antioxidants, omega-6 fatty acids, triterpenoids, linoleic acid, and vitamins A and E. The oil is sold in concentrated, absolute, and mixed forms that can be used in cooking and beauty products. It can be put on the skin directly or taken as a supplement pill to help with many health problems, such as acne, stretch marks, skin irritation, signs of aging, and dry skin. Because of this, you can find the oil in many high-end personal care products, such as creams, lotions, soaps, shampoos, and conditioners.

Argan oil has become one of the most popular items in the beauty and personal care industries. This is because of their cutting-edge qualities, such as their high levels of antioxidants and anti-inflammatory properties and other important benefits for skin and hair care. Men's grooming products like shower gels, hair and beard oils, skin lotions, and waxes with argan oil and other essential oils have also become more popular over the past few years.

COVID-19 Impact:

The COVID-19 epidemic hurt the global argan oil market because governments stopped making argan oil as a result of their social isolation policies. During this time, there were a lot of problems with the supply chain, which kept the market from growing. During the first two quarters of 2020, the market did not move at all. Huge drops in revenue were also caused by big drops in demand around the world. But in the first quarter of 2021, the market grew like it usually does. During the COVID-19 epidemic, however, people became more aware of their health and hygiene needs, which led to a rise in demand for personal hygiene and home care products. Because of the epidemic, people are more aware of how important it is to keep themselves and their homes clean.

Market Dynamics:

Market Trends:

The argan oil market is growing because more and more people want to use natural ingredients, especially in health and hair care products. In the coming years, the argan oil market is expected to grow because customers are becoming more aware of its benefits. Companies in the argan oil market use mass marketing, global infiltration, and the fact that their products can be bought online as their main strategies. Other things that are driving growth in the argan oil market include changes in the way argan oil is extracted, an increase in the amount of oil that can be made, and changes in the environment.

Also, customers' growing desire for better vitamins and supplements in everything from food and drinks to personal care products is likely to help the argan oil market grow sooner rather than later. But gardening mistakes, the fact that argan oil isn't sold in stores, and its high prices compared to other oils on the market are slowing the growth of the argan oil market as a whole. Even though the high price of argan oil makes it less appealing to buyers, improvements in how argan oil is extracted and increased production by argan oil makers are expected to give the argan oil market steady growth over the next few years.

Driving Factors:

• Growing Pharmaceutical Industry and Health Benefits of Argan Oil

The fats in argan oil and the fact that it is an antioxidant make it an important ingredient in pharmaceutical products. High levels of antioxidants like linoleic acid and oleic acid in this oil can help fight aging by stopping free radicals from damaging cells. This oil has vitamin E in it, which helps boost the body's immunity. Argan oil can be used to treat eczema, psoriasis, acne, skin infections, and many other skin conditions. When there are fatty acids in the body, they help raise the good cholesterol and lower the bad cholesterol. This lowers the risk of heart disease. Because of its anti-proliferative, hepatoprotective, anti-diabetic, anti-sebum, and anti-aging properties, this oil is used in many cosmetics and beauty products. So, the market's revenue is growing because argan oil is being used more and more in medicines.

Oil extraction is a multi-step process that uses different methods, such as mechanical cold press, Supercritical Fluid Extraction (SFE), Soxhlet extraction with n-hexane, and enzyme assisted extraction with enzyme solutions like pectinase, Viscozyme, and cellulose, which have made the extraction process easier to keep up with market demand.

• Rising Product Demand from a Variety of End-Use Industries

The growth can be explained by the fact that more and more products are being used in industries like food and beverages, cosmetics, and medicine. It has become one of the most popular items, especially in the cosmetics and personal care industries. This is because of their cutting-edge qualities, such as their high levels of antioxidants and anti-inflammatory properties and other important benefits for skin and hair care.

Men's care products like shower gels, hair and beard oils, and waxes with argan and essential oils have also become more popular over the past few years. There are no chemicals that could be harmful at all in organic products. In the past few years, the market for organic personal care products has grown rapidly. This is because more and more people are learning about the many advantages that organic products have over their synthetic counterparts.

People are paying more attention to how they look and putting more value on having healthy, young-looking skin. This trend is likely to make more people want to buy natural cosmetics and other personal care products, which will help the argan oil market.

• Increase in the Consumption of Argan Oil Blend in Cosmetic Sector

The market is expected to grow because more people are using blends on their skin and more people are using argan oil blends in the cosmetics industry. Argan oil is mixed with vegetable oils and essential oils to make the blended form. Most of the time, the blended form is used in cooking, cleaning, and making products for the home. Argan oil is also being used more in men's grooming products like shower gels, hair and beard oil, skin creams, and waxes. These products have argan oil and other essential oils in them.

Restraining Factors:

• Prevalence of Substitutes and Restricted Supply

There are more and more things that can be used instead of argan oil, like hazelnut oil and walnut oil. The taste of hazelnut oil, which is nutty, can make it harder to use argan oil in food and make it less popular on the world market. Hazelnut oil can be used instead of argan oil to reduce hyperpigmentation, protect against sun damage, reduce the look of scars, boost collagen production, moisturize, and hydrate skin. Because of their health benefits, many people now use other essential oils instead of this one. A report from April 24, 2022, says that Argan oil comes from a threatened, wild, and at-risk plant that needs to be protected. This plant is also known as a flagship species. If there isn't enough argan, the price of oil extraction will go up, and other industries that use this oil as a main ingredient will have less of it.

• High Costs

The growth rate of the market will be slowed by how much the product costs. Also, the high costs of research and development in developing countries slow the growth of the argan oil market as a whole.

Opportunities:

• Increasing Demand for Natural and Organic Beauty Products

The growing demand for natural and organic beauty products is one of the best chances to make money. Argan oil is used in many high-end beauty products because it has a lot of benefits for the skin. As people learn more about how natural products can help them, the demand for Argan Oil is likely to keep going up.

• Versatility of Argan Oil

Argan Oil's many uses is another chance to make money. This oil is used in more than just skin care products. It is also used in hair care, food, and even the making of cosmetics and drugs. This gives the industry a lot of new ways to come up with new products and make it more diverse.

• Increasing Investment by Major Players For R&D Activities

Over the next few years, revenue opportunities for players in the target market are likely to grow as major players put more money into research and development (R&D) and new products.

Challenges:

• Issue of Counterfeit Products

Fake products are one of the biggest problems that the market for Argan Oil has to deal with. With more and more people wanting this oil, more and more fake products are being sold as real Argan Oil. This is not only bad for the industry's reputation, but it also costs customers money.

• Limited Production of Argan Oil

Another problem is that there isn't much Argan Oil to go around. The kernels of the Argan tree, which only grows in one area of Morocco, are used to make this oil. Traditional oil extraction takes a long time and requires a lot of work, which limits the amount of oil that can be made.

Strategic Development:

• In May 2022 - One 'n Only will add Colorfix Hair Color Remover to its line of products that take out color. It is made with 100% argan oil and removes semi-permanent hair color well while nourishing hair and keeping it from getting damaged.
• In June 2021 - The fresh and modern packaging for The Creme of Nature Collection with Argan Oil of Morocco will be announced. The company will promote it with the ShineDifferent. The ethnic brand has care and styling products that are made with organic Moroccan argan oil. Mineral oil, petroleum jelly, and sulfates are not used to make any of the products in this line.
• In May 2022 - One 'n Only has announced that it will start selling Colorfix, a new hair color remover. Colorfix uses 100% Argan Oil to protect hair from damage and remove semi-permanent hair color effectively.
• In June 2021 - The Crème of Nature with Argan Oil from Morocco line got new, more modern packaging that promoted the hashtag #ShineDifferent. The brand focuses on making hair care and styling products for ethnic hair that don't use mineral oil, petrolatum, or sulfates and are made with organic Moroccan Argan Oil.
• In May 2022 - Namaste Beauty released a line of cruelty-free, high-quality vegan products. These products are based on the holistic wellness of ancient India and are meant to take care of skin and hair by reviving skin, restoring spirit, and bringing out natural beauty. Revenue is likely to grow because argan oil is used in a wide range of beauty products.
• In January 2022 - Argan Apothecary, Josie Maran's first OTC-approved formula, came out. Josie Maran was the first beauty company to use argan oil. Because this oil is in the product, this vegan, cruelty-free, and clean beauty collection works to prevent aging, tighten pores, and fight acne.

Key Vendors:

Top market players are

• OLVEA Morocco

OLVEA Morocco is the top Moroccan producer of OLVE'TrueTM Argan oil because it can make a lot of it (Argan oil). OLVEA meets the needs of an overseas market that is growing quickly while also helping to support the local people and promote and protect the Argan forest.

• ARGANisme Cosmetics S.A.R.L

ARGANISME COSMETICS SARL can offer cosmetic Argan oil and food Argan in bulk or in packages, as well as products of oriental Hammam and care, such as argan oil, black soap, natural soap, ghassoul, kassa glove, and floral waters (rose, lavender, jasmine).

• Zineglob

Zineglob is a Moroccan company that makes 100% organic Argan and Prickly Pear Oils, as well as other things. They choose the best raw materials that are grown in an organic way. All of the Organic Oils are 100% pure, contain no additives, and are certified by the most well-known Organic certification agencies, such as the USDA.

• Saadia Organics

The 100% Pure Argan Oil from aadia Organics is unrefined and completely hand-pressed in the western Moroccan city of Essaouira, where it was grown using traditional Moroccan methods. This "miracle" oil has become famous quickly because it can soothe, heal, and treat a wide range of problems. It can be used on hair, nails, toes, face, and skin. Argan oil has a lot of anti-aging properties because it has a lot of Vitamin E, fatty acids, antioxidants, sterols, polyphenols, and sterols.

• Essence Of Argan

Essence of Argan is a line of natural beauty and food products that uses the only eco-certified argan oil in the world. All of our products, from skin care to hair care to our new organic cooking oil, are made with 100% pure, organic, eco-certified Moroccan argan oil.

• Biopur

BIOPUR AG is a private Swiss company that has been around since 1994. It is based in Reinach, which is close to Basel. They have been making quality products and doing contract manufacturing for more than 19 years. They are a reliable supplier and business partner with a lot of experience.

• Malak Bio

Malak Bio is a business with headquarters in the south of Morocco. Before starting its own business, MALAK BIO worked as a cooperative at many of the top suppliers. specializes in making bio oils and natural beauty products: Organic Argan Oil Producer Organic Cactus Oil Maker Producer of natural creams, hair treatments, massage oils, black soaps, Natural Gahssoul, Natural soaps, Bio cares, Moroccan exfoliating products, shampoos, soap, etc.

• BioAdorates

Bioadorates Product is a Moroccan company that specializes in getting Pure organic argan oil and selling it all over the world. Bioadorates Product is always working to improve the argan World Heritage in order to make healthy and natural products.

• Mabioma

Majestic Pure is a California-based brand that wants to provide pure and natural botanical oils, safe but effective botanical cosmetics, and high-tech cosmeceuticals.

Segmentation Analysis:

The market is segmented on the basis of type, form, application and region.

Type Outlook:

The global industry is further divided into conventional and organic based on the types of products. In 2022, the conventional type segment was the most important part of the industry. It brought in 59.5% of the total revenue. The high share of this segment can be explained by the fact that argan-based cosmetics are becoming more popular. The kernels of the argan tree are used to make traditional argan oil, which is a good source of essential fatty acids and other things. In general, argan oil is made into grades that can be eaten and used for beauty products.

Virgin argan oil is a copper-colored liquid that tastes a little bit like hazelnuts and is made from kernels that have been lightly roasted. It has between 43 and 49% linoleic acid and between 29 and 36% oleic acid. On the other hand, beauty-grade argan oil is a golden liquid made from kernels that haven't been roasted. It doesn't taste like anything. Organic argan oil is often used in aromatherapy. When organic argan is being harvested, bio-based fertilizers like compost manure, bone meal, and green manure are used to help the crop grow. Argan oil is a luxury item that is becoming more and more popular with international cosmetics companies.

• Conventional
• Organic

By Form:

The global industry is further broken down into absolute, blend, and concentrate based on how it is made. In 2022, the absolute form segment was the most important part of the industry as a whole, making up more than 57.50% of the total revenue. This segment is growing because there is more demand for the product in its pure form for use in cosmetics, aromatherapy, and medicine. It is a very concentrated version made from the seeds of plants using solvent extraction methods.

To make this form, the kernels are crushed and then mixed with solvents. After a series of these steps, the product is made by evaporating the solvents. The purest form of argan oil is argan concentrate. It takes a lot of work and time to make product concentrates. Also, this form has a lot of flavonoids and antioxidants, so it can only be used for skin care. Over the next few years, the blend form segment is also expected to grow steadily.

• Absolute
• Blend
• Concentrate

By Application Outlook:

Based on how they are used, the global industry is further divided into four groups: personal care and cosmetics, medical, aromatherapy, and food. In 2022, the personal care application segment was the most important part of the industry. It brought in 52.9% of the total revenue. This is because of the use of products like hair oils, shampoos, conditioners, hair serums, moisturizers, environmental defense products, anti-aging creams, and lip balms, among others, for hair care and skin care.

The demand for argan oil in cosmetics is being driven by things like the growing number of women in the workforce and the growing number of older people. Manufacturers are adding more and better products to their lines to meet consumer needs. Environmental defense skin care products that protect the skin from microorganisms and UV radiation are becoming more popular. As the sun and pollution get worse, the skin is more likely to become dry and dull. Environmental defense skin care products protect and improve the health of the skin, which increases the demand for skin care products with argan oil.

• Personal Care and Cosmetics
• Medical
• Aromatherapy
• Food

Regional Insights:

The global Argan Oil market has been looked at in different parts of the world, such as North America, Latin America, the Middle East, Asia-Pacific, Africa, Europe, and India. In the near future, this market will be led by the global Argan Oil region.

Asia-Pacific has the biggest share of the global market for argan oil. Europe is one of the most important places to buy argan oil. In the personal care and cosmetics industry, Europe has the biggest market share. Most cosmetics are made in Europe, where nuts are dissolved in solvents and then used to make things like moisturizers, shampoos, and wrinkle creams. Also, Europe has mostly been doing research on biopharmaceuticals. Bio-based medicines are already made by pharmaceutical companies in Europe to treat diseases like cancer, high blood pressure, diabetes, and heart disease.

North America is also a big market for argan oil because there are more bio-based personal care, beauty, and aromatherapy products being used there. Using argan oil in aromatherapy can help your body, mind, and spirit feel better. Aromatherapy massage helps bring the body back into balance, reduces stress, and boosts the body's natural defenses against illness. Because of this, aromatherapy products became popular in North America because of these benefits. Also, they are easy to find in professional salons and online shopping malls, which makes the demand for argan oil higher around the world.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Scope of Report:

Conclusion:

• This study gives an in-depth look at the argan oil market, including current trends and predictions for the future. This helps investors find the best places to put their money.
• The report gives information about the key drivers, barriers, and opportunities in the argan oil market, as well as a detailed analysis of the market share.
• In the competitive landscape, there is information about the companies that sell products, their finances, new developments, and their strategies.