Market Estimation & Definition

The Argan Oil Industry is valued at USD 413.17 million in 2024 and is projected to reach USD 872.88 million by 2032, growing at a CAGR of 9.8% from 2025 to 2032. Extracted from the kernels of the argan tree, this oil is valued for its antioxidant, moisturizing, and restorative properties, finding applications in personal care, cosmetics, aromatherapy, and select medical uses.

Market Overview

Argan oil is a natural plant oil extracted from the kernels of the argan tree, which is native to Morocco. It's often referred to as "liquid gold" due to its rich golden color and numerous health and cosmetic benefits. Argan oil is renowned for its moisturizing and nourishing properties, making it a popular ingredient in skincare and haircare products. Rich in antioxidants, vitamins (such as vitamin E), and essential fatty acids, argan oil is known to hydrate and soften the skin, reduce inflammation, and protect against environmental damage. It's also used to improve the condition of hair, making it smoother, shinier, and more manageable. Annual production of argan oil is around 4000 T/oil. While numerous products (cooking oil, cosmetic oil, creams, soaps, etc.) are manufactured and marketed, only 10% of national production is exported. Most of the profits from the worldwide sale of argan oil transformed products do not reach the local community.

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Market Dynamics

Growing Demand for Natural and Organic Skincare to boost Argan Oil Market growth

There has been a significant shift in consumer preferences towards natural and organic skincare products. Argan oil, with its rich antioxidant and moisturizing properties, has emerged as a favored ingredient in such formulations. Consumers are increasingly seeking alternatives to chemical-laden products, driving the demand for natural solutions like argan oil, which is expected to boost the Argan Oil Market growth. As consumers become more educated about the benefits of argan oil for skin and hair health, the demand for products containing this ingredient continues to rise. Argan oil is known for its hydrating, nourishing, and anti-inflammatory properties, making it suitable for a wide range of skincare and haircare applications. This increased awareness of its benefits fuels demand in the market.

Limited Geographic Availability to restrain Argan oil Market growth

Argan oil is primarily sourced from the argan trees native to specific regions of Morocco. This limited geographic availability poses a constraint on the supply of argan oil, especially considering the increasing global demand. Factors such as climate change, deforestation, and land degradation further threaten the sustainability of argan tree populations, impacting the availability of raw materials, which is expected to restrain Argan Oil Market growth. The production of argan oil is highly dependent on the annual harvest of argan tree fruits. The harvesting season typically occurs between June and August, and the extraction process is labor-intensive, involving cracking open the argan nuts to extract the kernels. This seasonal nature of production can lead to fluctuations in supply and price volatility, posing challenges for manufacturers and suppliers.

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Segmentation Analysis

by Type

Conventional
Organic

by Form

Absolute
Concentrates
Blends
Others

by Application

Personal Care and Cosmetics
Medical
Aromatherapy
Food
Others

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Regional Insight

North America dominated the market in 2024 and is expected to hold the largest Argan Oil Market share over the forecast period. Increased use of bio-based cosmetics, personal care products, and aromatherapy goods significantly boost the North America Argan Oil Market growth. It is used in aromatherapy healing to promote the health of the body, spirit, and mind. Aromatherapy massage balances the body, reduces stress, and helps various body functions battle illnesses. As a result, aromatherapy goods have become popular in North America and are widely available in specialty stores and online shopping malls. Hair care products are expected to be in high demand as a result of increased innovation in hair styling techniques and consumer awareness regarding attractive looks, particularly in developed economies, such as North America.

Leading Argan Oil Manufacturers include:

1. Zineglob - Agadir, Morocco
2. Arganfarm - Marrakech, Morocco
3. Arganisme - Agadir, Morocco
4. Argan Diva - Casablanca, Morocco
5. Argane Aouzac - Essaouira, Morocco
6. Moroccan Argan Oil - Marrakech, Morocco
7. Argan Liquid Gold - London, United Kingdom
8. Kahina Giving Beauty - New York, USA
9. Josie Maran Cosmetics - Los Angeles, USA
10. SheaMoisture - Amityville, USA
11. Acure Organics - Fort Lauderdale, USA
12. Pura D'or - Los Angeles, USA
13. ArtNaturals - Los Angeles, USA
14. The Ordinary - Toronto, Canada
15. John Masters Organics - New York, USA

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