Dublin, Feb. 28, 2024 (GLOBE NEWSWIRE) -- The "Argan Oil Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F" report has been added to ResearchAndMarkets.com's offering.
The beauty and personal care industry's increasing shift towards natural and organic products has led to significant growth in the Global Argan Oil Market. Noted for its enriching health benefits and applications in natural cosmetics, argan oil has become a premium ingredient across numerous product categories. As consumers become more conscious about the origins and effects of their purchased goods, the market is expected to soar, currently anticipated to grow with a CAGR of 7.8% by 2028.
Demand for Natural Cosmetics Spurs Market Growth
A robust trend that has emerged within the market is the soaring demand for natural and organic cosmetics. Argan oil, with its moisturizing, rejuvenating, and restorative properties, has been a significant beneficiary of this movement. Skin and hair care items infused with argan oil have surged in popularity, promoting healthy living alongside eco-conscious consumption. This increased consumer awareness is fueling the expansion of the argan oil market and is also shaping the product offerings of companies within the industry.
Culinary Uses Highlight Versatility and Gourmet Appeal
Apart from the cosmetic and skincare industry, the culinary sector is recognizing the unique benefits argan oil imparts. Its nutty, rich flavor, coupled with a host of health benefits, has resulted in the introduction of gourmet argan oil products, which are seeing increased demand in upscale culinary applications and home kitchens alike.
E-commerce Drives Accessibility and Global Reach
A notable trend that continues to impact the argan oil market is the significant role of digital marketing and online sales channels. The convenience and expansive reach of e-commerce have allowed consumers from every corner to discover and incorporate argan oil into their daily routines. This digital footprint is crucial in the overall visibility and popularity of argan oil, with brands leveraging online platforms to connect with customers and expand their market share.
Regional Markets Show Increased Demand
North America is observing a marked surge in argan oil demand, indicative of the region's growing preference for health-conscious, natural, and sustainable lifestyle choices. The authenticity and ethical sourcing of argan oil suit the values of eco-aware consumers, making this natural product a staple in beauty and culinary endeavors.
Sustainable Harvesting Practices Gain Importance
Sustainability is more than a buzzword in the argan oil market; it is a core factor in production and sourcing. The argan tree, indigenous to Morocco, is a vital ecological asset that requires protection from overexploitation. Sustainable harvesting and ethical trade practices have become increasingly important to consumers and stakeholders within this market segment.
This emphasis on green practices is seen as a key to maintaining balance between meeting global demands and preserving the delicate ecosystem that produces this 'liquid gold.' The growth trajectory of the argan oil market is solid, with predictions of continued expansion through 2028. The awareness of argan oil's benefits, combined with sustainable production methods, quality assurance, and equitable trade practices, positions this market for longevity and success in the years to come.
Key Market Players and Competitive Landscape
The global argan oil market features a range of key players who are innovating and expanding production capabilities to meet international demand. The market's landscape is a dynamic mix of established brands and emerging challengers, all aiming to capitalize on the growing trend towards natural and sustainable products.
- Deepening penetration in personal care and cosmetic segments
- Expansion into culinary sectors with gourmet argan oil offerings
- Focus on ethical sourcing, fair trade certification, and sustainable production
- Increased online visibility through e-commerce and digital marketing efforts
- Regional demands, especially in North America, driving market growth
As the argan oil market continues to evolve, the integration of sustainable practices, ethical sourcing, and the pursuit of quality assurance remain critical to fostering consumer trust and maintaining industry integrity. The market's resilience lies in its capacity to adapt, innovate, and remain responsive to global consumer trends and environmental needs.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 172 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $398.98 Million |
| Forecasted Market Value (USD) by 2028 | $625.52 Million |
| Compound Annual Growth Rate | 7.8% |
| Regions Covered | Global |
Report Scope:
In this report, the Global Argan Oil Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Argan Oil Market, By Type:
- Conventional
- Organic
Argan Oil Market, By Application:
- Food
- Personal Care
- Medical
- Others
Argan Oil Market, By Distribution Channel:
- Offline
- Online
Companies Profiled:
- OLVEA
- ARGANisme
- Pure Argan Co.
- DSM
- Malakbio
- Lipidine
- Argane Aouzac
- Organica Group Ltd.
- Arganfarm Sarl. Au.
- Zidrop Argan Oil
For more information about this report visit https://www.researchandmarkets.com/r/1wu767
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