Global Argan Oil Market Size, Share & Trends Analysis Report, Forecast Period, 2023-2030

The Argan Oil market is experiencing robust expansion, with market size projected to increase from (340.9 billion) 2024 to (734.9 billion) 2030, demonstrating a consistent year-over-year growth rate of 8.6%. Argan Oil Market Size, Share, Competitive Landscape and Trend Analysis Report, by Types (Conventional, Organic), by applications (Personal Care and Cosmetics, Medical, Aromatherapy, Food, Home Cleaning, Others) ,by Form (Absolute, Blend, Concentrate), by , , , , And regions (North America(United States, Canada, Mexico), South America(Brazil, Argentina, Chile, Rest of South America), Europe(Germany, France, Italy, United Kingdom, Benelux, Nordics, Rest of Europe), Asia Pacific(China, Japan, India, South Korea, Australia, Southeast Asia, Rest of Asia-Pacific), MEA(Middle East, Africa)) : Industry Forecast and Opportunity Analysis for 2024 - 2030

The global argan oil market is defined as the trade and consumption of argan oil, which is a plant-based oil extracted from the nuts of the argan tree (Argania spinosa), native to Morocco. Argan oil is mainly used in cosmetics, personal care, and food products, primarily because of its rich nutrient profile, which includes high levels of essential fatty acids, antioxidants, and vitamins. This is valued in the cosmetics industry for its moisturising, anti-ageing, and skin-nourishing properties, hence making it a popular ingredient in skincare, haircare, and body care products. Increasing consumer awareness about the benefits of natural, organic, and sustainable beauty products has caused the market to grow.

Argan Oil Report Highlights

Report Metrics	Details
Forecast period	2019-2030
Base Year Of Estimation	2023
Growth Rate	CAGR of 8.6%
Forecast Value (2030)	USD 734.9 billion
By Product Type	Conventional, Organic
Key Market Players	Arganbulk Argane Aouzac Arganfarm sarl. au. ARGANisme Kamakhya Bottlers Konouz Rayyan (PURUS International) Lipidine Malakbio OLVEA Morocco Organica Group Ltd. Zidrop Argan Oil Zineglob Ltd.
By Region	North America(United States, Canada, Mexico) South America(Brazil, Argentina, Chile, Rest of South America) Europe(Germany, France, Italy, United Kingdom, Benelux, Nordics, Rest of Europe) Asia Pacific(China, Japan, India, South Korea, Australia, Southeast Asia, Rest of Asia-Pacific) MEA(Middle East, Africa)

Argan Oil Market Trends

Argan oil-based demand in the global argan oil market is gaining up the trend as there are a lot of customers worldwide seeking natural and organic products in beauty and personal care. Clean, sustainable, and cruelty-free alternatives to conventional cosmetics drive people towards cosmetic items that contain argan oil as a prime constituent of skincare, hair care, and body care. In addition to that, increasing recognition of plant-based benefits, especially among millennials and Gen Z, continues to open up the market for brands incorporating argan oil into their formulations. Another significant trend is the development of argan oil demand in the food industry. With consumers now becoming very health-conscious, there exists a growing demand for nutrient-rich and functional food ingredients, and this is highly valued in the case of argan oil, highly prized for its antioxidant as well as its fatty acids and vitamin E content, making it emerge in the gourmet cooking and health food sectors—salad dressing or finishing oil are examples.

Argan Oil Market Leading Players

The key players profiled in the report are Arganbulk, Argane Aouzac, Arganfarm sarl. au., ARGANisme, Kamakhya Bottlers, Konouz Rayyan (PURUS International), Lipidine, Malakbio, OLVEA Morocco, Organica Group Ltd., Zidrop Argan Oil, Zineglob Ltd.

Growth Accelerators

The major market driver of the global argan oil market is the growing consumer desire for natural and organic beauty care products. Consumers are opting for clean, sustainable, and environmentally friendly ingredients as increasing awareness about the harmful nature of synthetic cosmetics has evoked a change in consumer purchasing behaviour. Argan oil, being an emollient, anti-ageing, and nourishing ingredient, has become one of the most sought-after ingredients in the skincare, haircare, and personal care markets. The organic beauty trend and demand for cruelty-free and environmentally friendly products are highly fuelling the growth of the market. The growing awareness of the health benefits associated with argan oil in the food and wellness sectors is also an important driver. Rich in antioxidants, essential fatty acids, and vitamin E, argan oil is the new addition for being a nutritional ingredient used both in the kitchen and as a nutrient addition to diet supplements. These claims and the perceived benefits regarding supporting heart health, lowering inflammation, and skin-related conditions drive customers with good health interests toward it. The penetration of e-commerce platforms in recent times, along with globalisation, also made the product available all over the world.

Argan Oil Market Segmentation analysis

The Global Argan Oil is segmented by Type, Application, and Region.
By Type, the market is divided into Distributed Conventional, Organic . The Application segment categorizes the market based on its usage such as Personal Care and Cosmetics, Medical, Aromatherapy, Food, Home Cleaning, Others. Geographically, the market is assessed across key Regions like North America(United States, Canada, Mexico), South America(Brazil, Argentina, Chile, Rest of South America), Europe(Germany, France, Italy, United Kingdom, Benelux, Nordics, Rest of Europe), Asia Pacific(China, Japan, India, South Korea, Australia, Southeast Asia, Rest of Asia-Pacific), MEA(Middle East, Africa) and others, each presenting distinct growth opportunities and challenges influenced by the regions.

Competitive Landscape

The competitive landscape of the argan oil market is peppered with a number of globally established brands in competition with small niche players with a very high focus on sustainability and benefit from ethical sourcing. At the upper end of the cosmetic segment, such companies as L'Oréal, The Body Shop, and MoroccanOil are dominant players in the international beauty and personal care industry. These companies usually source argan oil from Morocco, ensuring quality and authenticity, while marketing their products with an image of premium offerings. While many players in this sector focus on direct sourcing from cooperatives in Morocco, they also visibly make evident their commitment to the empowerment of local communities through such activities. E-business, or e-commerce, has now brought smaller players against bigger corporations, such as Morocco's national companies, up to the international competition.

Challenges In Argan Oil Market

The limited and highly concentrated supply of argan oil due to the fact that the argan tree grows mostly in Morocco contributes to the current major challenge in the global argan oil market. Argan tree cultivation is known to be very time-consuming from harvest to production, thus creating more bottlenecks in the supply chain and costs. Moreover, the market faces issues with regard to the sustainability of argan tree cultivation. Overharvesting and environmental degradation threaten the long-term availability of the raw material, which may affect the stability of the market in the future. Another challenge is the rise in counterfeit or diluted argan oil products, which are often marketed as pure but do not meet the quality standards expected by consumers. This affects consumer trust and poses difficulties for genuine brands in maintaining their market share. Further, the high-priced authentic argan oil remains a high-value product on account of the labour-intensive nature of its production, coupled with scarce supply, restricting its access to wider consumer markets with higher incomes. This creates a price threshold and other competition from available oils, such as coconut and jojoba, which further limits the application of argan oil at the international level.

Risks & Prospects in Argan Oil Market

The global argan oil market is a great opportunity spurred by the increasing demand for natural and organic beauty products. Due to the increasing consciousness that consumers have about the contents used in their skincare and hair care products, argan oil, on the other hand, can go a long way in expansion since it offers versatility, effectiveness, and sustainability. The rise of more and more brands into clean and eco-friendly formulations gives substantial scope for business innovation in creating new products that feature the anti-ageing, moisturising, and healing properties of argan oil. Argan oil can be considered an excellent food product opportunity due to the increase in demand for healthy, plant-based diets. As the need for healthy alternatives to conventional oils is on the rise, it is becoming more commonly used in gourmet food preparation and Mediterranean dishes. Health benefits, like its richness in antioxidants and essential fatty acids, will make argan oil popular for functional foods and wellness trends. This change offers opportunities for food companies to create and market argan oil-based products, including salad dressings, cooking oils, and dietary supplements, capitalising on consumers' growing interest in nutrition and wellness.

Key Target Audience

A primary pillar of the international argan oil marketplace is health-conscious people who prefer natural, organic, and sustainable products. This target audience includes all ages but focuses on millennials and Gen Z who follow clean beauty and wellness radar trends. The majority of this audience seeks highly nutritional product solutions that may include comprehensive hydration, dehydration, anti-ageing, and rejuvenating properties—recognised, amongst other things, most commonly by oil extraction in Morocco through ethical and sustainable practices, particularly with fair trade initiatives.,, Another group to mention will be beauty and personal care industry professionals, like some of the brands under skin and hair care, who use argan oil as a prime ingredient in their products. All these premium beauty lines, sometimes marketed over-the-counter, become relevant even with the mass-scale advertising of natural health benefits on every person, irrespective of age. This allows argan oil to be used in both beauty and food products, thus attracting leaf consumers, whether looking for all-around health benefits or expensive high-end beauty.

Merger and acquisition

For enhancing product portfolios and expanding market presence, the global argan oil market has witnessed significant mergers and acquisitions. Recently, larger companies acquired several smaller brands for diversifying their portfolios and tapping the market potential for natural- and organic-based products. For example, some companies like Barlean's and Aura Cacia have joined argan oil into their existing forces as part of the consolidation strategy within the beauty and health sectors that recognise, more than ever, the benefits of the oil. Growth potential will thus be increased for the argan oil market due to heightened consumer interest in sustainable and ethically sourced ingredients. The analysts now predict that the more the market will grow, the more it will entice mergers and acquisition activity, as leading brands will be very keen on establishing their competitive edge against rivals by establishing synergies through the acquisition of start-ups or small-scale businesses specialising in argan oil products. This trend serves to enlarge the market reach of most of these big companies while at the same time giving smaller brands the means to develop and grow further under increasingly aggressive competition.