Worldwide sales of argan oil are estimated to increase at a noticeable CAGR of 9.6% from 2022 to 2032. The current valuation of the global argan oil market is US$ 320 million, which is projected to reach US$ 800 million by the end of 2032.
Demand for cosmetic-grade argan oil will remain high over the coming years and account for over 80% market share. In recent years, there has been a noticeable increase in the demand for many premium beauty products that are infused with argan oil. A rapid shift in consumers’ preference from artificial chemical products to organic products is likely to bolster demand for argon oil.
For more insights into the Market, Request a Sample of this Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=86
Exploring the Expanding Horizons of Argan Oil Demand
“Thriving Demand for Argan Oil in the Cosmetics, Personal Care, and Food Industries”
The prospects for argan oil are on the rise, driven by its increasing demand across diverse sectors, including the medical, cosmetics, and food and beverages industries. Within this spectrum, the cosmetics and personal care sector stands out as the leading segment, propelling the sales of argan oil as a favored cosmetic ingredient.
Recent years have witnessed a noticeable surge in the use of men’s grooming products, with essentials like waxes, hair and beard oils, and shower gels incorporating argan oil. The absence of potentially harmful compounds in organic argan oil further fuels its market potential.
Consumers have become increasingly mindful of their appearance, investing significantly in maintaining healthy, youthful-looking skin. This trend is set to drive demand for personal care and natural cosmetics products, including scented oils.
Argan oil, known for its anti-aging properties, is gaining popularity in various cosmetic formulations such as face oils, lipsticks, lip balms, and serums. Leading manufacturers like Sephora, Lakmé, and L’Oréal have introduced cosmetic product lines based on argan oil, further boosting its demand.
The growing preference for organic and natural ingredients in argan oil is poised to enhance its demand prospects in the industry.
“Elevating Consumer Awareness of the Benefits of Argan Oil”
The surging demand for argan oil is underpinned by its unique qualities, including anti-inflammatory and antioxidant properties, making it a sought-after ingredient in skincare and haircare products. Consequently, the global market is expected to expand significantly in the foreseeable future.
Increasing consumer awareness regarding the myriad benefits of argan oil, especially when compared to synthetic alternatives, is anticipated to further drive market growth.
“Emerging Demand for Argan Oil in the Food Industry”
Argan oil is experiencing growing demand in the food industry, where it is used to infuse flavor into a range of products, including snacks, sweets, frozen desserts, and confectioneries. Modern consumers are increasingly favoring diverse and flavored food items, contributing to the surge in demand for argan oil.
Furthermore, the adoption of argan oil as a cooking oil in various culinary applications is poised to create new sales opportunities in the food industry.
Competitive landscape:
Key manufacturers of argan oil are taking a lot of efforts to generate novel growth opportunities in the industry. Mergers & acquisitions, novel product launching, portfolio expansion, partnerships, collaborations, and others are adopted by these players. Some of the prominent market players are Beauty Quest Group, Inspired Beauty Brands, Sivan SM, Earthly Body, and Cooperative Toudarte.
For instance :
- Namaste Beauty, on May 03, 2022, launched a high-quality and cruelty-free vegan product collection for rejuvenating the skin, highlighting innate beauty, and replenishing the spirit of ancient India.
Key Market Segments:
· By Form :
- Absolute
- Concentrate
- Blends
· By Grade :
- Culinary Grade
- Cosmetic Grade
· By Nature :
- Organic
- Conventional
· By Packaging Format :
- Bulk (B2B) Packaging
- B2C Packaging Format
· By Application :
- Cosmetic Products
- Edible Products
· By Region :
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
For in-depth competitive analysis, Buy Now:
https://www.factmr.com/checkout/86
Questionnaire answered in the Market outlook Report of Argan Oil include:
- What is the key strategy deployed by large players to maximize Argan Oil Market growth?
- What are the main challenges faced by players in the Argan Oil market Demand?
- With the advent of technological advancement, how will the Argan Oil market landscape change over the forecast period?
- What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Argan Oil market size?
Contact:
US Sales Office :
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E-Mail: sales@factmr.com
