Argan Oil Market Size 2022 COVID-19 Impact Analysis by Business Opportunities, Demand, Emerging Trends, Growth Drivers, Future Outlook and Forecast Report 2032: SPER Market Research
According to SPER Market Research, the Argan Oil Market is estimated to reach USD 0.89 billion by 2032 with a CAGR of 11.62%. The kernels of the argan tree are used to make a product known as argan oil. Linoleic acid, triterpenoids, antioxidants, omega-6 fatty acids, and vitamins A and E are present in significant amounts. The oil is offered in concentrated, absolute, and blended versions for use in cooking and cosmetics. It offers a number of health advantages and may be applied topically or ingested to treat stretch marks, ageing symptoms, acne, and skin irritation. Oil may thus be discovered in a variety of high-end personal care products, including as creams, lotions, serums, shampoos, conditioners, and soaps.
Argan Oil Market Overview (2022-2032)
- Forecast CAGR (2022-2032): 11.62%
- Forecast Market Size (2032): 0.89 billion
One of the most popular items in the cosmetics and personal care sectors is argan oil. Due to its deep roots and tiny leaves, which can endure desert winds and water loss, the argan tree produces a nut with a characteristic oil. Argan oil is frequently used because of its nutritional, botanical, and environmental advantages. Argan oil is widely used in the cosmetic and personal care industry due to its many benefits for skin care and hair care products as well as its high-grade antioxidants and anti-inflammatory properties. During the past several years, products for men’s grooming, including as shower gels, beard and hair oils, skin moisturisers, and waxes enriched with argan and other essential oils, have gained popularity.
Impact of COVID-19 on the Argan Oil Market
The COVID-19 pandemic has an impact on the world’s food business since governments have closed pubs and restaurants to stop the virus’s spread. Restaurant closures have had a significant impact on allied businesses such as food production, the manufacturing of liquor, wine, and beer, the transportation of food and beverages, fishing, and farming. Due to increased consumer awareness during the COVID-19 pandemic, it is anticipated that there would be an increase in the demand for personal hygiene and homecare goods. The pandemic has increased consumer awareness of the importance of maintaining personal and household hygiene in order to lower the risk of infection.
Personal care items are anticipated to see a rise in demand as a result. When production was stopped as a result of social alienation policies implemented by governments, the COVID-19 outbreak had a negative impact on the world market for argan oil. The supply chain was seriously damaged at this time, which stopped the market from expanding. The first two quarters of last year saw the market in a state of stagnation. Significant cutbacks in worldwide demand also contributed to major revenue declines. Nevertheless, in the first quarter of previous year, the market returned to its normal growth pattern. Yet, as a result of increased consumer awareness during the COVID-19 outbreak, there was an upsurge in demand for personal hygiene and home care products. Consumers are now more aware of the need of maintaining personal and home hygiene as a result of the outbreak.
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Argan Oil Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2032. This report contains statistics on product type segment growth estimates and forecasts.
By Type:
- Conventional
- Organic
By Form:
- Absolute
- Blend
- Concentrate
By Application:
- Personal Care
- Medical
- Aromatherapy
By Region:
- Asia-Pacific
- Europe
- Middle East & Africa
- North America
- Latin America
The body is balanced, tension is reduced, and many body processes are assisted in fighting off ailments by aromatherapy massage. As a result, aromatherapy products are easily available in specialist stores and internet shopping hubs throughout North America. Due to growing innovations in new hairstyle methods and consumer awareness of beautiful appearances, particularly in developed economies like United States, hair products are predicted to be in high demand.
Argan Oil Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; ARGANBULK, Argane Aouzac, Arganfarm sarl. au., ARGANisme, DSM, Lipidine, Malakbio, OLVEA, Organica Group Ltd., Pure Argan Co., Zidrop Argan Oil.
For More Information, refer to below link:-
Argan Oil Market Future Growth
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