Article -> Article Details
| Title | Argan Oil Market Size, Share, Forecast and Supply Demand To 2027 |
|---|---|
| Category | Business --> Business Services |
| Meta Keywords | Argan Oil Market |
| Owner | Soniya Patil |
| Description | |
| The Global Argan Oil Market is assessed to demonstrate growth at a lucrative CAGR of 10.7% over the foreseen period from 2019 to 2027 and is estimated to value USD 499.90 million by 2027. The market stood at a value of USD 220.87 million in 2019. The growth is majorly credited to widening applications of argan oil in several end-use industries, such as food, medicine, and cosmetics. Additionally, argan oil is a rich source of essential nutrients, antioxidants, and have anti-inflammatory properties; thus, it finds broader application in medicine and pharmaceuticals industry. Key participants in the argan oil market include:
The argan oil market is gaining traction as the product is getting acceptance from several companies operating in medicine and cosmetics. Additionally, the governments in several countries are increasingly offering favourable policies, especially in the developed countries for use, driving the growth of the global argan oil market. Argan oil has a sweet and nutty flavour that is perfect for several food products; thus, it is widely accepted as culinary oil from most of the global cuisines in the world. Additionally, argan oil is a rich source of antioxidants and vitamin E, which helps to boost the immune system, anti-ageing, cancer-fighting, and cholesterol controlling properties. Thanks to these benefits, the food industry is increasingly adopting it as salad dressing, dips, and to season fishes and bead before cooking or grilling. Increasing adoption from the industry is the primary factor fueling growth of the argan oil market from the past decade and is estimated to be one in the coming years. Argan Oil Market: Segmentation Reports And Data has segmented the Global Argan Oil Market based on type, form, application, and region: Type Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
Form Outlook (Volume, Kilotons; Revenue, USD Million; 2017-2027)
Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
Additionally, the oil is extensively used in cosmetics, and personal care industry for manufacturing products as the oil is proven to be beneficial for skin and hair. Argan oil offer benefits to reduce skin infections, fracture, and wound healing, which is helping the product to make widely acceptable from biomedicine and pharmaceutical industry. The adoption from numerous industries is boosting demand for argan oil and fueling its market growth globally. The product is witnessing more usage in aromatherapy owing to its soothing effects which promote the body and mental well-being. The adoption of aromatherapy has increased over the years substantially, which in turn is fuelling demand for argan oil. Additionally, the key players in the bio-medicine industry are investing in researching on argan oil and in using it across several products. Such investment and increased demand from health wellness industries are driving growth of the global argan oil market. However, high costs associated with products are restraining growth of the overall market. Geographically, the argan oil market is largely dominated by North America, followed by Europe. This growth in both regions is attributed to increasing adoption of bio-based products coupled with the affordability of expensive products. Additionally, increasing adoption of aromatherapy for mental and body well-being in the region is estimated to offer opportunities for growth in the region. However, the market in the Middle East and Africa is estimated to witness growth with faster CAGR owing to swiftly changing governmental policies that are encouraging plantation of argan trees, especially in Morocco. Browse the comprehensive TOC and data tables @ https://www.reportsanddata.com/report-detail/argan-oil-market About Us: | |