Argan Oil Market Scope
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 Global Argan Oil market is expected to see growth rate of 7.12%
Research Analyst at AMA estimates that Morocco Vendors will contribute to the maximum growth of Global Argan Oil market throughout the predicted period.
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) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Nadifi Argan (United States), Sidi Yassine (Morocco), Marogonia (United States), Amour Natural (United Kingdom), BioAdorates (Morocco) and Mabioma (Morocco).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Argan Oil market by Type (Culinary Argan Oil and Cosmetic Argan Oil), by Application (Food [Bakery & Confectionery, Dairy & Frozen Dessert, Sweet & Savory Snacks, Others], Pharmaceuticals & Nutraceuticals, Cosmetics & Personal care and Others) and Region with country level break-up.
On the basis of geography, the market of Argan Oil has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
“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.”
Market Trend
- Advancement in the Extraction Process of the Argan Oil
Market Drivers
- Increasing Demand for Cosmetics with Natural Oils
- Growing Awareness about Therapeutic Potential of Argan Oil
Opportunities
- Growing Online Distribution Channel for the Argan Oil
- Increasing Demand from the Developing Economies
Restraints
- High Cost of Argan Oil
- Stringent Government Regulations Regarding Argan Oil
Challenges
- Lack of Awareness among the Customers
- Availability of Substitute Products
Key Target Audience
Argan Oil Processors, Aromatherapy Products Manufacturers, Commercial Research and Development Institutions, Raw Material Suppliers and Distributors, Agricultural Associations and Farmers, Traders, Exporters, and Importers and Others