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The global Argan Oil market size is expected to be worth around US$ 507.1 million by 2027, according to a new report by Vision Research Reports.

The global Argan Oil market size was valued at US$ 223.8 million in 2019 and is anticipated to grow at a CAGR of 10.7% during forecast period 2020 to 2027.

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Argan Oil Market Size, Share, Growth, Trends, Company Analysis, Regional Insights and Forecast 2020 – 2027 – Breakdown Data by Regions, Type, Manufacturers and Applications

Growth Factors

The growth can be attributed to increasing product demand from several end-use industries such as food, cosmetics, and medical. Growing popularity of the product along with favorable regulatory policies in countries like U.K and U.S. are likely to play a key role in providing opportunities for new players entering the market.

Argan oil is gaining popularity in the global market as it cotains omega-3 and omega-6 fatty acids, lupeol, beta amyrin, antioxidant tocopherols, triterpenoids, and butyrospermol, which play a significant role in improving skin and hair quality. This has encouraged manufacturers from industries such as aromatherapy, medical, and cosmetics products to integrate argan oil in their final products.

Report Highlights

• In 2019, conventional emerged as the largest type segment in the argan oil market owing to high crop yield obtained by using this cultivation method as it involves using synthetic pesticides and fertilizers
• In 2019, Business to Business (B2B) dominated the distribution channel segment in the market owing to increasing direct sales of the product in the international market, especially by the manufacturers of cosmetic products
• Sivan, an Israeli company is developing a super strain, called as Argan 100, which is capable of tolerating the Mediterranean climate and can manufacture 10 times more nuts as compared to the average trees of Morocco, thus contributing to the production

Key Players

OLVEA, ARGANisme, Zineglob, PURUS (Purus International), Malakbio, Argane Aouzac, Organica Group LTD, Arganfarm, Kamakhya Bottlers, Zidrop Argan Oil, and ARGANBULK.

Market Segmentation