Top Companies in Argan Oil Market by Size, Share, Historical and Future Data & CAGR | Report by Vantage Market Research
Argan Oil Market is projected to reach a value of USD 552.6 Billion by 2030 at a CAGR of 11.1% over the forecast period 2023-2030.
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Global Argan Oil Market is valued at USD 264.5 Billion in 2022 and is projected to reach a value of USD 552.6 Billion by 2030 at a CAGR of 11.1% over the forecast period 2023-2030. The market for argan oil will be driven by its rising demand in frozen foods, desserts, confections, snacks, and sweets because it gives these foods flavour. Also, macroeconomic factors favourably affecting the global argan oil market include the rise in beauty consciousness and the surge in demand for oil as a medication for the treatment of diabetes and high blood pressure. Furthermore, Argan oil market growth will be accelerated by additional factors, such as growing public awareness of the health advantages of argan oil and the increase in product demand for applications in skincare and hair care.
The increasing use of argan oil in manufacturing pharmaceutical and nutraceutical goods will further increase the favourable prospects for the expansion of the argan oil market. Furthermore, developing R&D activities and introducing new products will function as significant drivers and open up new chances for the market's growth throughout the aforementioned projected period.
The use of organically extracted oils like argan oil in various personal care products has expanded due to rising consumer demand for beauty products and the growth of the cosmetics sector, propelling market revenue growth. The usage of argan oil in skincare and hair care products has increased due to its anti-inflammatory and antioxidant characteristics. Due to its advantages for moisturizing skin, brightening skin, conditioning hair, and other benefits, this is a crucial ingredient in personal care products. All of these have an impact on the argan oil market.
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The global industry is highly competitive & fragmented, with a large number of market players. The Global Argan Oil market is dominated by well-known players like OLVEA (Morocco), ARGANisme (Netherlands), Pure Argan Co. (U.K.), DSM (Netherlands), Malakbio (Morocco), Argane Aouzac (Morocco), Organica Group Ltd. (Morocco), Arganfarm sarl. Au. (U.K.), Zidrop Argan Oil (Morocco) and ARGANBULK (Morocco). Over the years, businesses like OLVEA and others have launched several argan oil-based skin care products. Major players in the hair care industry's product demand have also been gradually rising; as a result, these variables are anticipated to result in increased product consumption due to rising consumer demand. For a larger market share and to strengthen their competitive advantage, industry players are attempting to expand their operations in undeveloped areas.
Let’s Take a Look at the Top Market Players that are Captivating the Argan Oil Market
- OLVEA (Morocco)
The top Moroccan producer of argan oil is OLVEA Morocco, a production division of OLVEA Vegetable Oils. The procedures used in argan oil manufacturing are based on an ancient Berber tradition. Argan oil is a natural elixir with remarkable beauty benefits.
- ARGANisme (Netherlands)
In 1976, ARGANisme Cosmetics S.A.R.L. was established as an essential oil distributor, producer, and argan oil manufacturer. They also distribute products made by co-ops. In addition, they provide essential supply chain support for their clients' specialist personal care, beverage, pharmaceutical, and cosmetics brands. They added luxury brand production and filling to their repertoire in 2005. Argan oil, natural soap, black soap, ghassoul, Kassa gloves, and flower waters (rose, lavender, and jasmine) are now available from ARGANISME COSMETICS SARL as cosmetic and food Argan oil in bulk or packaged form. Major merchants in Europe, the United States, China, Japan, Australia, the United Arab Emirates, Qatar for spas and, hammams and supermarkets, and Morocco's argan oil producers only supply professionals.
- Pure Argan Co. (UK)
Pure Argan Co. was founded to give the all-female cooperative that assists them in producing this priceless resource the highest quality organic Argan oil in a fair and sustainable manner. Additionally, the founder, Ikram Benzila, is a Moroccan knowledgeable about traditional Argan oil beauty regimens handed down from mother to daughter for decades. She started looking into ways to introduce natural Argan oil to the Market after becoming frustrated with the difficulty of acquiring pure Argan Oil of the same quality she had been used to in Morocco.
- DSM (Netherlands)
Some of the top-selling beauty products in the world use ingredients and creative solutions from DSM's Personal Care Business Unit. Its scientific foundation results in unique and transformative components and concepts that assist in establishing brands and are advantageous to the final customer when paired with local consumer insights. The argan oil sold by DSM is virgin, deodorized, and clear, mildly scented, yellow.
- Malakbio (Morocco)
A renowned Moroccan manufacturer and exporter of natural Argan Oils for use in cooking and cosmetics, MALAK BIO also produces and exports Bio Prickly Pear Seed Oils, Essential Oils, Henna, Alum Stone, Moroccan Black Soaps, Ghassoul Clay, and products for spas, hotels, and massage centres in addition to Argan Based Cosmetic Products.
- Argane Aouzac (Morocco)
Argane Aouzac, the top producer of premium argan oil in Morcco with a fifty-ton annual production capacity, meets the demands of the rapidly expanding international market while assisting the local Berber community and preserving the Argan tree forest. When the extracted seeds are delivered to Argane Aouzac, a thorough quality control inspection is conducted in the lab. The seeds are pulverised after examination, and the oil is then cold-pressed from them. The oil is then packaged and sent worldwide after going through a filtration process and passing a second quality control test.
- Organica Group Ltd. (Morocco)
The Organica Group is a manufacturer and exporter of 100% pure organic cosmetics products, with operations both inside and outside of Morocco utilising conventional components and all-natural cosmetics, skincare, and hair care products. Their goods are produced by cooperatives in Morocco's southwest who have the necessary skills and knowledge. Direct exports from cooperatives of the entire company's line of cosmetic and food items are made to customers worldwide.
- Arganfarm SARL AU (UK)
With over 25 years of experience and a dedication to providing the highest-quality, 100% pure, organic, and custom-made argan oil products, Arganfarm is a growing business that produces and supplies argan oil. The company specialises in creating and providing Argan oil to retail and wholesale customers worldwide. In addition, Arganfarm offers its clients customised goods for the healthcare sector, including dermatologists and other markets, as well as the hospitality business (restaurants, hotels, and beauty spas).
- ARGANBULK (Morocco)
With items including Cosmetic Argan Oil, Culinary Argan Oil, Prickly Pear Seed Oil, and Rose Water, ARGANBULK is among the top producers and exporters of high-quality organic oil and cosmetics. They constantly strive to offer their customers the greatest quality at competitive prices. They hold certifications for FDA and ECOCERT ORGANIC (NOP/USDA & EOS). To ensure high quality, each product undergoes rigorous inspection and quality checks at every stage of manufacture.
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