Argan oil refers to plant oil produced from the kernels of the Argan tree. It is exclusively produced in southwestern Morocco. It has multiple pharmacological properties hence used in the treatment of skin inflammation, acne, eczema, wrinkles, psoriasis, joint pain, and others. In addition, it is also used in the cosmetics and personal care products as it has antioxidants properties. Hence, cosmetic manufacturers are focusing on adding Argan oil based product to enhance their product portfolio. For instance, Lakme launched new Argan oil based product range, Lakme Absolute. Moreover, growing awareness among customers about the benefits of Argan oil expected to fuel the market growth during the forecasted period.According to AMA, the market for Argan Oil is expected to register a CAGR of 7.12% during the forecast period to 2024. This growth is primarily driven by Increasing Demand for Cosmetics with Natural Oils and Growing Awareness about Therapeutic Potential of Argan Oil.
Globally, a noticeable market trend is evident Advancement in the Extraction Process of the Argan Oil. Major Vendors, such as Olvea Group (France), ARGANisme Cosmetics S.A.R.L (Morocco), Biopur Sarl (Morocco), Zineglob Ltd (Morocco), Purus International (Morocco), Malak Bio (Morocco), L'OCCITANE Group-Melvita (France), Argan Liquid Gold (United Kingdom), Frontier Natural Products Co-op Inc. (United States), John Masters Organics Inc. (United States), Zit Sidi Yassine Sarl (Morocco), Vima Souss (Morocco) and Les Bios d’Agadir (Morocco) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
“Proper labeling is an important aspect of marketing a cosmetic or personal care product. Labeling is used to help inform consumers of a product's intended use and any related warnings, its ingredients and the net quantity of contents, and its place of manufacture or distribution. The FDA regulates cosmetic labeling under the authority of both the Food, Drug, and Cosmetic Act (FD&C Act) and the Fair Packaging and Labeling Act (FPLA). These laws and their related regulations are intended to protect consumers from health hazards and deceptive practices and to help consumers make informed decisions about the personal care products they purchase.”
- Increasing Demand for Cosmetics with Natural Oils
- Growing Awareness about Therapeutic Potential of Argan Oil
- Advancement in the Extraction Process of the Argan Oil
- High Cost of Argan Oil
- Stringent Government Regulations Regarding Argan Oil
Growing Online Distribution Channel for the Argan Oil and Increasing Demand from the Developing Economies
Lack of Awareness among the Customers and Availability of Substitute Products
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