The global argan oil market size is expected to reach USD 426.25 billion by 2030, according to a new study by Polaris Market Research. The report “Argan Oil Market Share, Size, Trends, Industry Analysis Report, By Application (Personal Care & Cosmetics, Medical, Aromatherapy, Food, Cleaning, and Home, and Others); By Type; By Form; By Distribution Channel; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
One of the main factors driving the industry expansion is the rising demand for frozen dessert goods around the world as a result of changing customer preferences and health consciousness. Dry fruits, a combination of tastes, and milk components make up the majority of the ingredients in frozen desserts.
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The industry is expanding due to the rising habit of using frozen desserts as a digestive aid after meals. The demand for the industry is rising as people’s awareness of beauty grows. It is quite popular in confections, frozen desserts, candies, and snacks as it gives these products flavor, which promotes growth.
Another reason that could lead to a significant increase in demand for frozen desserts like ice cream and frozen yogurt globally is climate change. Customers think they eat ice cream to lower their body temperature in a hot region, which is what drives the argan oil market’s expansion. According to the current trend in the industry, people nowadays like to consume flavored goods, which is helping the industry grow. The majority of cosmetic products contain argan oil, which has accelerated the industry’s expansion.
Additionally, consumers’ growing desire for better vitamins and supplements in everything from food and beverages to personal care products is anticipated to accelerate the growth of the industry sooner rather than later.
Argan Oil Market Report Highlights
- The blend form segment is anticipated to grow at a lucrative CAGR over the forecast period owing to increasing customer demand for blends used topically and rising argan oil blend usage in the cosmetics industry.
- Aromatherapy accounted for a significant share in 2021. Many benefits of this aromatherapy massage are well known. It supports the body and mental balance, harmony, and tranquility. It also boosts the immune system, supporting a variety of biological processes and thwarting infections.
- Asia-Pacific is expected to grow at a fastest CAGR over the projected period. Due to the existence of powerful indigenous corporations like Sun Pharma, and Lupin, India is one of the most preferred countries for making affordable pharmaceuticals.
- The global market has John Masters Organics Inc., L’OCCITANE Group, Malak Bio Inc., Olvea Group, Purus International, and Zineglob ltd.
Polaris Market Research has segmented the argan oil market report based on type, form, application, distribution channel, and region:
Argan Oil, Type Outlook (Revenue – USD Billion, 2018 – 2030)
Argan Oil, Form Outlook (Revenue – USD Billion, 2018 – 2030)
Argan Oil, Application Outlook (Revenue – USD Billion, 2018 – 2030)
- Personal Care & Cosmetics
- Cleaning and Home
Argan Oil, Distribution Channel Outlook (Revenue – USD Billion, 2018 – 2030)
- Specialty Retailer
- Online Stores
Argan Oil, Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa