Major Impact on Global Argan Oil Market Report
Global Argan Oil Market Research Report
Global Argan Oil Market Information- by Type (Natural, Organic), by Application (Food, Personal Care Products, Aromatherapy, others), by Distribution Channel (Supermarket/Hypermarket, Specialty Retailers, Convenience Stores, E-commerce, Others) and by Region Forecast till 2023
Market Synopsis of Argan Oil:
Argan oil is extracted from the kernels of argan tree which is found in Morocco. Argan oil has multi-purpose use which makes it more popular among the consumers. Major application of argan oil is found in food and personal care products. Argan oil is used for culinary purpose as it gives a unique flavor to the food. Healthy constituent such as antioxidants, beta amyrine, butyrospermol and lupenol Healthy fats found in argan oil also tend to increase its market value among the health conscious consumers. Argan oil is used in cosmetics and personal care products due to its high anti-oxidant value and rich vitamin-E content. The product is now widely used in aromatherapy and spa as it helps in nourishment of the skin and also exfoliates it.
Increasing health consciousness and awareness among the consumers about healthy oils have a major impact on the argan oil market. The multi-purpose application of argan oil across various industries is also driving the market of argan oil globally. Mass market penetration is leading to introduction of new products and their retail across various regions. High focus on Research and Development has led to innovations and in the product line which has fueled up the market share of argan oil in global market. High demand for food products with enhanced nutritional value is also supporting the sale of argan oil globally.
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Among the various sources of argan oil, natural sourced argan oil is evaluated to hold a major share. In addition, due to increased demand for chemical-free products the sale of organic argan oil is anticipated to experience surge. Based on various applications, share of personal care products is found to be dominant followed by aromatherapy. Based on the distribution channel, sale through supermarkets and hypermarkets retailers is found to hold a major share owing to one-stop purchase and easy availability of the desired product through the channel.
Study Objectives of Argan Oil Market:
- Detailed analysis of the market’s segments and sub-segments
- To estimate and forecast market size by source, application, distribution channel & region
- To analyze key driving forces influencing the market
- Region level market analysis and market estimation of North America, Europe, Asia, and the rest of the world (ROW) and their countries
- Value Chain Analysis & Supply Chain Analysis of Argan Oil
- Company profiling of major players in the market
- Competitive strategy analysis and mapping key stakeholders in the market
- Analysis of historical market trends and technologies along with current government regulatory requirements
- Market share of organic argan oil is found to be growing at a higher rate during the forecast period
- Top exporters of argan oil include Morocco, Spain, Italy, U.K., and France
Argan Oil has been segmented on the basis of source which comprises of natural and organic. Natural sourced argan oil is found to hold a major share due to high consumer preference and lack of awareness about the organic oil properties.
Argan Oil has been segmented on the basis of application which include food, personal care products, aromatherapy, others. Personal care products holds a lion’s share among the various applications based on its skin nourishing properties.
Argan Oil has been segmented on the basis of distribution channel which comprises supermarket/hypermarket, specialty retailers, convenience stores, e-commerce, others. Sale through supermarket/hypermarket is growing at a higher growth rate backed up by a convenient shopping experience of the consumers.
The Global Argan Oil Market is segmented into North America, Europe, Asia Pacific, and Rest of the World (ROW). Middle East and Africa region covered in Rest of the World and has the major market share followed by North America. Developing economy has led to an increase in disposable income due to which Middle East region is projected to generate a high revenue during the given forecast period. The changing consumer preferences for healthy and natural products will support the sale of argan oil in various region during the forecast period. The major importers of argan oil include Morocco, U.S., the Netherlands, China, U.K., and Japan. Based on the higher demand for personal care products especially in female population, the import and export of argan oil in the developed countries is found to rise at a steady rate.
The key players profiled in the Global Argan Oil Market are
- Groupe Olvea (France)
- Zineglob SARL (Morocco)
- Argan Liquid Gold (U.K.)
- Nadifi Argan Oil (Morocco)
- Sidi Yassine (Morocco)
- Vima Souss (Morocco)
- Malak Bio (Morocco)
The Global Argan Oil Market is segmented under the following regions mentioned below:
- Rest of Europe
- Rest of Asia Pacific
Rest of the world
- Saudi Arabia
- South Africa
The report for Global Argan Oil Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives a clear picture of the current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro-economic and governing factors in the market. This report provides a detailed information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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