The unprecedented COVID-19 pandemic has had a major impact on the global economy. Considering one of the most important sectors of the economy, the food industry, it has a huge impact on the entire process, from the field to the consumer. Restrictions on movement of workers, closures of food production facilities and changing consumer demand are putting undue pressure on the food industry.
The report provides actionable and valuable market insights for Argan Oil . The latest report from Fact.MR provides details on the current market scenario in various regions along with historical data and forecasts of the market. The report also includes information on sales and demand for Argan Oil market across various industries and regions.
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The global argan oil market is projected to surge at a CAGR of approximately 7% in value over the assessment period 2021-2031. Cosmetic grade argan oil will account for about 80% of the market share by 2031.
Market research conducted by Fact.MR provides exclusive information on how the market will grow. The study identifies important trends determining the growth of the Argan Oil market. This newly published report sheds light on important dynamics such as drivers, restraints and opportunities for key market players and emerging players involved in production and supply. The latest report from Fact.MR provides a detailed market analysis of Argan Oil.
The continuously increasing demand for premium beauty products is driving the overall high consumption of argan oil worldwide. A shift in consumer preference from artificial chemicals to organic herbal products is driving demand for argan oil across the region. The prevalence of argan oil has increased dramatically over the past decade, and market expansion has been driven by the advent of cosmetics and skin care products containing argan oil.
This newly published insightful report sheds light on the Market Insights of Argan Oil, its key dynamics, its impact on the entire value chain from suppliers to end users, and the growth of the Argan Oil market .
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Key market segments
- cooking grade
- cosmetic grade
- packaging format
- Bulk (B2B) packaging
- B2C Packaging Format
- edible products
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
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Beauty Quest Group is one of the largest companies in the market with annual sales of US$130 million. It was followed by Inspired Beauty Brands with annual sales of $34 million.
Fact.MR provides detailed profiles of key players in the global market primarily involved in the manufacture of Argan Oil, along with essential data points taking the market outlook into account. Company profiling includes several points such as recent developments, SWOT analysis, and key strategies the company is adopting in the market.
14 Key Forecasts for the Global Argan Oil Market
- By form type, it is estimated that absolute argan oil continues to be preferred in the global market. Absolute argan oil sales revenue is expected to account for more than a third of the market share during the forecast period.
- Argan oil blends are expected to remain the second most profitable form of argan oil. Sales of argan oil blends and absolute argan oil are expected to expand in parallel at a similar CAGR through 2022.
- Natural argan oil will continue to be popular among consumers in the market. Natural argan oil sales are expected to account for nearly three-quarters revenue share of the market during the forecast period.
- Demand for organic argan oil is expected to remain relatively lower than demand for natural argan oil from 2017 to 2022.
- Argan oil is expected to witness the largest application in food and beverage, with sales expected to reach nearly US$16 million by the end of 2022.
- Aromatherapy remains the second largest use of argan oil.
- Sales of argan oil used in perfumery will continue to be sluggish through 2022.
- Europe will still dominate the global market for argan oil, with sales expected to expand the fastest through 2022.
- North America is estimated to remain the second most profitable market for argan oil.
- The argan oil market in Middle East and Africa (MEA) will register sluggish growth during the forecast period.
- The argan oil market in Asia Pacific, excluding Japan (APEJ), will continue to grow moderately through 2022.
- Argan oil sales in online distribution channels are expected to record the fastest expansion through 2022.
- Argan oil sales in specialty stores are projected to reflect the lowest CAGR from 2017 to 2022. However, specialty stores are expected to remain the second most profitable distribution channel for argan oil.
- Contemporary Trade is expected to remain the dominant distribution channel in the global argan oil market.
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A more valuable insight into the Argan Oil Market
Fact.MR provides an unbiased market analysis of Argan Oil, sales and demand for Argan Oil by analyzing forecast statistics for 2019 and beyond in a new report. This study presents growth prospects based on various criteria.
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