Argan Oil Market Report 2024 (Global Edition)

Global Argan Oil Market Report 2024 Market Size Split by Type (Natural Argan Oil, Organic Argan Oil), by Application (Therapeutics Argan Oil, Aromatherapy Argan Oil, Food & Beverages Argan Oil, Cosmet...

Argan Oil Market Report Description

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Competitive Landscape of the Argan Oil Market

The competitive landscape of the argan oil market is characterized by a diverse array of players vying for market share. Competitors employ various strategies, including product innovation, pricing, and distribution tactics, to differentiate themselves and capture the attention of consumers in a crowded marketplace.

Top Companies Market Share in Argan Oil Industry: (In no particular order of Rank)

• OLVEA
• Pure Argan Co.
• Malakbio
• ARGANisme
• Argane Aouzac
• Zidrop Argan Oil
• Organica Group Ltd
• ARGANBULK
• Confidential Data
• Access The Paid Version
• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Which Region Dominates the Argan Oil Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue due to several factors. Firstly, the region's high consumer awareness of natural and organic products drives demand for argan oil in skincare and hair care formulations. Additionally, the presence of established cosmetic brands leveraging argan oil in their products further stimulates sales. Moreover, the growing popularity of DIY beauty treatments and home spa experiences among North American consumers boosts demand for argan oil as a versatile ingredient. Lastly, favourable regulatory frameworks and stringent quality standards ensure trust and confidence in argan oil products, contributing to sustained market growth in the region.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is the fastest-growing region, fuelled by various factors. Firstly, the region's burgeoning population, coupled with rising disposable incomes and a growing middle class, drives increased spending on personal care and beauty products, including those containing argan oil. Furthermore, the growing influence of social media and beauty influencers amplifies consumer awareness and interest in natural skincare solutions like argan oil. Additionally, the region's diverse beauty culture fosters experimentation with different ingredients, further propelling demand for argan oil-based products. Lastly, the expansion of e-commerce platforms enhances accessibility, allowing consumers across Asia-Pacific to easily purchase argan oil products, contributing to market growth.

The current report Scope analyzes Argan Oil Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Argan Oil Market

According to Cognitive Market Research, the global argan oil market size was estimated at USD 268125.2 Million out of which North America held the major market of around 40% of the global revenue with a market size of USD 107250.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 19.7% from 2024 to 2031. The sales of argan oil in North America are poised to increase due to several factors. Additionally, the rise of social media influencers advocating for the benefits of argan oil further amplifies consumer awareness and interest. Moreover, the convenience of online retail platforms facilitates easy access to a wide range of argan oil products, boosting sales. The prominent market share segment, Cosmetics & Personal Care argan oil, is expected to grow in North America due to its efficacy in meeting the demand for natural beauty solutions.

Country Analysis

• According to Cognitive Market Research, The United States argan oil market had a market share of USD 84,620.31 million in 2024 and is projected to grow at a CAGR of 19.5% during the forecast period. Sales of argan oil in the U.S. are set to rise due to increasing consumer preference for natural beauty products, endorsements by celebrities, and the product's versatility in skincare and hair care routines.
• Canada argan oil market had a market share of USD 12,870.01 million in 2024 and is projected to grow at a CAGR of 20.5% during the forecast period. Canada's growing interest in sustainable and eco-friendly products, coupled with its multicultural population, will drive the sales of argan oil for its diverse skincare benefits and culinary applications.
• Mexico argan oil market had a market share of USD 9,759.76 million in 2024 and is projected to grow at a CAGR of 20.2% during the forecast period.

 

Europe Argan Oil Market

According to Cognitive Market Research, with a market value of USD 268125.2 million in 2024 and projected to expand at a compound annual growth rate (CAGR) of 20.0% from 2024 to 2031. Europe accounted for a share of around 30% of the global market size of USD 80437.56 million. In Europe, the sales of argan oil are expected to increase owing to various factors. The region's strong cultural appreciation for natural remedies and holistic wellness practices drives consumer interest in argan oil for skincare and aromatherapy. Additionally, the growing trend towards sustainable and eco-friendly products aligns with argan oil's natural and organic profile, further boosting its sales. Furthermore, collaborations between European cosmetic brands and Moroccan suppliers ensure the authenticity and quality of argan oil products, enhancing consumer trust. The prominent market share segment, Blends argan oil, is anticipated to grow in Europe as consumers seek versatile and convenient beauty solutions.

• The United Kingdom argan oil market had a market share of USD 13,513.51 million in 2024 and is projected to grow at a CAGR of 20.8% during the forecast period. In the UK, the sales of argan oil will increase due to the country's thriving beauty industry, consumer demand for premium skincare products, and the product's effectiveness in addressing various skin concerns.
• France argan oil market had a market share of USD 7,400.26 million in 2024 and is projected to grow at a CAGR of 19.2% during the forecast period.
• Germany argan oil market had a market share of USD 15,926.64 million in 2024 and is projected to grow at a CAGR of 20.2% during the forecast period. Germany's eco-conscious consumer base, coupled with its robust cosmetics market, will propel sales of argan oil as consumers seek natural and organic alternatives for skincare and hair care needs.
• Italy argan oil market had a market share of USD 6,917.63 million in 2024 and is projected to grow at a CAGR of 19.4% during the forecast period.
• Russia argan oil market had a market share of USD 12,467.82 million in 2024 and is projected to grow at a CAGR of 19.0% during the forecast period.
• Spain argan oil market had a market share of USD 6,595.88 million in 2024 and is projected to grow at a CAGR of 19.1% during the forecast period.
• Luxembourg argan oil market had a market share of USD 2,493.56 million in 2024 and is projected to grow at a CAGR of 20.1% during the forecast period.
• Portugal argan oil market had a market share of USD 1,689.19 million in 2024 and is projected to grow at a CAGR of 19.8% during the forecast period.
• Greece argan oil market had a market share of USD 965.25 million in 2024 and is projected to grow at a CAGR of 20.3% during the forecast period.
• Rest of Europe argan oil market had a market share of USD 12,467.82 million in 2024 and is projected to grow at a CAGR of 18.7% during the forecast period.

Asia Pacific Argan Oil Market

According to Cognitive Market Research, the global argan oil market size was estimated at USD 268125.2 Million out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 61668.80 million in 2024 and will grow at a compound annual growth rate (CAGR) of 23.5% from 2024 to 2031. The Asia Pacific region presents significant growth opportunities for the sales of argan oil. Increasing urbanization and rising disposable incomes drive consumer spending on premium beauty products, including argan oil-infused skincare and hair care items. Moreover, the region's rich cultural heritage and tradition of natural remedies fuel interest in argan oil for its therapeutic and cosmetic benefits. Additionally, the popularity of K-beauty and J-beauty trends amplifies demand for argan oil-based products in South Korea and Japan. The fastest-growing segment, Aromatherapy argan oil, is expected to thrive in Asia Pacific as consumers prioritize mental wellness and stress relief.

• According to Cognitive Market Research, China argan oil market had a market share of USD 27,750.96 million in 2024 and is projected to grow at a CAGR of 23.0% during the forecast period. In China, the rising disposable incomes, growing middle class, and increasing awareness of Western beauty trends will drive sales of argan oil for its perceived anti-aging and skin-nourishing properties.
• Japan argan oil market had a market share of USD 8,510.29 million in 2024 and is projected to grow at a CAGR of 22.0% during the forecast period.
• India argan oil market had a market share of USD 7,400.26 million in 2024 and is projected to grow at a CAGR of 25.3% during the forecast period. India's rich cultural tradition of holistic wellness, coupled with the growing demand for Ayurvedic skincare solutions, will fuel sales of argan oil as consumers seek natural remedies for skincare concerns.
• South Korea argan oil market had a market share of USD 6,166.88 million in 2024 and is projected to grow at a CAGR of 22.6% during the forecast period.
• Australia argan oil market had a market share of USD 3,206.78 million in 2024 and is projected to grow at a CAGR of 23.2% during the forecast period.
• South East Asia argan oil market had a market share of USD 4,255.15 million in 2024 and is projected to grow at a CAGR of 24.5% during the forecast period.
• Rest of Asia Pacific argan oil market had a market share of USD 4,378.48 million in 2024 and is projected to grow at a CAGR of 23.3% during the forecast period.

 

South America Argan Oil Market

According to Cognitive Market Research, the global argan oil market size was estimated at USD 268125.2 Million out of which Latin America market of around 5% of the global revenue with a market size of USD 13406.26 million in 2024 and will grow at a compound annual growth rate (CAGR) of 20.9% from 2024 to 2031. Sales of argan oil in Latin America are set to increase due to several factors. The region's diverse beauty culture and appreciation for natural ingredients drive demand for argan oil in cosmetics and personal care products. Moreover, the growing trend towards sustainability and ethical sourcing resonates with consumers, prompting them to choose argan oil for its eco-friendly profile. Additionally, the influence of telenovelas and social media influencers advocating for argan oil further boosts its popularity. The fastest-growing segment, Food & Beverages argan oil, is expected to flourish in Latin America as consumers embrace the nutritional benefits of incorporating argan oil into their diets.

• According to Cognitive Market Research, Brazil argan oil market had a market share of USD 5,737.88 million in 2024 and is projected to grow at a CAGR of 21.5% during the forecast period. Sales of argan oil in Brazil will increase due to the country's vibrant beauty culture, the popularity of natural ingredients, and the product's efficacy in moisturizing and nourishing hair and skin.
• Argentina argan oil market had a market share of USD 2,252.25 million in 2024 and is projected to grow at a CAGR of 21.8% during the forecast period. In Argentina, the sales of argan oil will rise as consumers prioritize natural and organic beauty products, influenced by the country's strong agricultural heritage and emphasis on sustainability.
• Colombia argan oil market had a market share of USD 1,193.16 million in 2024 and is projected to grow at a CAGR of 20.7% during the forecast period.
• Peru argan oil market had a market share of USD 1,099.31 million in 2024 and is projected to grow at a CAGR of 21.1% during the forecast period.
• Chile argan oil market had a market share of USD 965.25 million in 2024 and is projected to grow at a CAGR of 21.2% during the forecast period.
• Rest of Latin America argan oil market had a market share of USD 2,158.41 million in 2024 and is projected to grow at a CAGR of 20.0% during the forecast period.

Middle East and Africa Argan Oil Market

According to Cognitive Market Research, the global argan oil market size was estimated at USD 268125.2 Million out of which Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 5362.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 21.2% from 2024 to 2031. The region's rich cultural heritage and historical use of argan oil in traditional remedies foster consumer trust and interest. Additionally, the booming tourism industry in Morocco, the primary producer of argan oil, enhances awareness and accessibility of the product. Moreover, the region's harsh climate conditions necessitate effective skincare solutions, further driving demand for argan oil-based products. The highest market share segment, Therapeutics argan oil, is expected to thrive in MEA as consumers prioritize skincare products with healing and nourishing properties.

• According to Cognitive Market Research, GCC Countries argan oil market had a market share of USD 2,295.15 million in 2024 and is projected to grow at a CAGR of 22.0% during the forecast period. The GCC countries' focus on luxury beauty products, coupled with the region's arid climate, will drive sales of argan oil for its moisturizing and anti-inflammatory properties, catering to skincare needs.
• Egypt argan oil market had a market share of USD 563.06 million in 2024 and is projected to grow at a CAGR of 21.5% during the forecast period.
• South Africa argan oil market had a market share of USD 847.28 million in 2024 and is projected to grow at a CAGR of 22.2% during the forecast period. In South Africa, the sales of argan oil will increase due to its diverse applications in skincare and hair care, coupled with growing consumer awareness of its benefits and the desire for premium beauty products.
• Turkey argan oil market had a market share of USD 461.18 million in 2024 and is projected to grow at a CAGR of 20.7% during the forecast period.
• Nigeria argan oil market had a market share of USD 563.06 million in 2024 and is projected to grow at a CAGR of 20.3% during the forecast period.
• Rest of MEA argan oil market had a market share of USD 632.78 million in 2024 and is projected to grow at a CAGR of 20.2% during the forecast period.

 

Argan Oil Market Analysis

Argan Oil Type Segment Analysis

According to Cognitive Market Research, natural argan oil held the major market share over the forecast period due to its widespread availability and affordability, appealing to a broad consumer base. Additionally, increasing consumer preference for minimally processed and pure beauty products drives demand for natural argan oil. Its versatile applications in skincare, hair care, and culinary uses further contribute to sustained sales growth. Moreover, growing awareness of the environmental and health benefits of natural ingredients solidifies its position as a staple in beauty routines, ensuring continued market dominance.

Organic argan oil is the fastest-growing category over the forecast period due to several factors. Firstly, rising consumer consciousness regarding environmental sustainability and chemical exposure fuels the demand for certified organic products. Additionally, the perception of organic argan oil as superior in quality and purity drives consumer preference. Moreover, stringent regulations governing organic certifications instil trust and confidence among consumers, stimulating sales. Furthermore, the expanding market for organic cosmetics and personal care products further accelerates the growth of organic argan oil as consumers seek healthier and eco-friendly alternatives.

• Natural Argan Oil
• Organic Argan Oil

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Argan Oil Industry. Request a Free Sample PDF!

Argan Oil Application Segment Analysis

According to Cognitive Market Research, cosmetics & personal care argan oil hold a prominent market share due to its multifunctional benefits in skincare and hair care products. Its efficacy in moisturizing, anti-aging, and strengthening properties appeals to a wide consumer base. Additionally, the growing trend towards natural and organic beauty products drives sales, as consumers seek safer alternatives. Moreover, endorsements by celebrities and influencers, along with widespread availability in retail outlets and online platforms, further bolster its market position.

Aromatherapy argan oil is the fastest-growing category over the forecast period due to increasing consumer interest in holistic wellness practices. Its soothing and stress-relieving properties make it a popular choice for aromatherapy treatments. Moreover, the rise in mental health awareness prompts consumers to seek natural remedies for relaxation and emotional well-being, further driving sales. Additionally, the versatility of Aromatherapy argan oil for use in diffusers, massage oils, and bath products expands its market appeal, contributing to its status as the fastest-growing segment.

• Therapeutics Argan Oil
• Aromatherapy Argan Oil
• Food & Beverages Argan Oil
• Cosmetics& Personal Care Argan Oil
• Medical
• Cleaning and Home
• Others

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Argan Oil Form Type Segment Analysis

According to Cognitive Market Research, blends argan oil hold a prominent market share due to its versatility and convenience in various applications. The combination of argan oil with other beneficial oils enhances its efficacy and appeal to consumers seeking multipurpose skincare and hair care solutions. Additionally, the availability of customized blends tailored to specific needs, such as anti-aging or hydration, further drives sales. Moreover, partnerships with beauty brands and endorsements by influencers contribute to increased visibility and consumer trust in blends argan oil products.

Concentrates argan oil is the fastest-growing category over the forecast period, owing to its potent formulations targeting specific skincare concerns. The high concentration of argan oil in these products offers enhanced efficacy in addressing issues like wrinkles, dryness, and damage. Additionally, the rising demand for intensive treatment solutions prompts consumers to seek out concentrates argan oil for targeted skincare routines. Moreover, endorsements by dermatologists and beauty experts validate the effectiveness of concentrates, driving consumer confidence and contributing to robust sales growth.

• Absolute Argan Oil
• Concentrates Argan Oil
• Blends Argan Oil
• Others

Author's Detail

Nisha Deore

Research Analyst at Cognitive Market Research

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I am a well-organized, conscientious, and professional Research Analyst with two plus years of experience. In my current role, I conduct in-depth secondary research, data mining, competitive analysis, DRO's, PR, and Collateral writing. Whilst I enjoy working as part of a team, researching information, analyzing data, and producing results that help my organization to achieve its commercial and financial objectives.

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