U.S. Argan Oil Market Report

U.S. Argan Oil Market Analysis By Application (Cosmetics, Food, Medical), Competitive Landscape, Trends & Dynamics, Value Chain Analysis, And Segment Forecasts, 2014 - 2025

Published: August 2017  |  62 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-595-3

Industry Insights

The U.S argan oil market size was valued at 1,319.7 tons in 2016. The regional industry has been witnessing a positive growth owing to increasing demand for organic personal care and men’s grooming products. The favorable regulatory scenario prevailing in the region will also contribute towards the overall growth. Technological innovation aimed at chemical & microbiological quality enhancement will also serve as a major impetus over the future period.

Argan extracts has several medical applications owing to its potential to provide solutions for curing skin cancer. This oil contains compounds such as triterpenoids which are known to reduce tumor growth.

U.S. argan oil market volume by application, 2014 - 2025 (USD Million)

U.S. argan oil market

The U.S. is influenced by high consumer awareness regarding health & nutrition, government initiatives to tackle obesity, and a mature cosmetics industry shifting towards natural & organic products. Rigorous efforts by research institutes and R&D facilities of companies to identify and capitalize on the medical potential of these extracts shall also improve the growth projectile of the region.

Growing disposable income and demand for branded luxury cosmetics is anticipated to augment the market growth. There is a gradual realization among U.S. consumers that organic derived cosmetics provide better results than chemical induced goods. 17% of the U.S. consumers believe that pollution effect their skin appearance and natural products combat that feature.

Argan oil provides approximately 44% hydration to the skin and impacts the appearance of the skin in a positive way by more than 26% and above. About 83% of consumers prefer vitamins, 79% percent prefers particular fruit or vegetable extracts in their goods. There has been a 200% increase in personal care products aimed at men as a beard, and long hair trend is picking up.

Favorable technological advancements are also contributing significantly towards overall industry demand. Technological advancements are continuously adding in an enhancement of both chemical and microbiological qualities of extracts.

Application Insights

Argan oil market is in a nascent stage and is gaining significance due to of its high performance constituents which include vitamins and nutrients namely omega 6 & omega 3 fatty acids, lupeol, beta amyrine, antioxidant tocopherols, butyrospermol, and triterpenoids. The complex blend containing nutrients and vitamins has high Vitamin-E content, and helps in speeding up the cell growth and supports its anti-inflammatory & antiseptic features.

Rising awareness regarding different advantages of organic personal care products over synthetic products has resulted in an increase in their demand over the last few years. Natural items are entirely free from any harmful chemicals.

Increasing attention to healthy skin is expected to encourage demand for personal care products. Growing importance of natural skin care ingredients with anti-aging properties is projected to fuel the demand for naturally derived cosmetics over the next few years.

U.S. argan oil market volume by application, 2016 (%)

U.S. argan oil market

The hair & skincare segment looks optimistic in the future as consumers are gradually willing to compromise on a budget for better benefits. Men and women are generating attractive sales for organic care items as hair & skin appearances are increasingly depicting personalities.

Consumers are often eager to learn about the ingredient of the items before purchasing an item. Users are expected to compare benefits of natural ingredients owing to the availability of diverse products obtained from natural ingredients. Positive reviews on these natural items is expected to boost demand over the forecast period.

Regional Insights

The U.S. is influenced by increasing consumer awareness pertaining to nutrition & health, government efforts to reduce obesity problems, and a shift in the mature cosmetics market towards organic & natural products. Rigorous efforts were taken by the various private companies, research institutes to identify and exploit the therapeutic potential of these extracts. This will probably aid to the market growth over the forecast period.

Also, the rise of an online marketplace where consumers can access a broad range of goods from any part of the world has been one of the primary reasons for the increase in the level of accessibility. The online marketplace gives consumers an opportunity to get access to items which would otherwise not be available in the region.

Competitive Insights

Key manufacturers include OLVEA Morocco and Argan., ARGANisme, and Brenntag Specialties. As this product is mainly sourced from Morocco, a strong distribution network is essential to meet customer demand across the world. There are a significant number of traders distributors involved in exporting argan from Morocco and distributing it to end-use industries.

Recently key cosmetic manufacturers have given importance to the presence of an organic ingredient in their products. Some companies such as Oriental Group SARL AU and Bulk Apothecary take up private label contracts on behalf of end-users for the supply of organic infused cosmetics.

L’Oréal Paris has launched several skin & hair care products such as anti-frizz crème serum and smoothing & taming shampoos & conditioners infused with this extracts. Other companies such as Lakmé, Josie Maran Cosmetics, Bahia Cosmetics, have also included argan as a prime ingredient in their skin care, lip care, nail, and hair care items.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2016

Forecast period

2017 - 2025

Market representation                                                  

Volume in tons, revenue in USD Million and CAGR from 2017 to 2025

Regional scope

U.S.

Report coverage              

Revenue forecast, company share, competitive landscape, growth factors and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific market information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments covered in the report

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the U.S. argan oil market on the basis of application and region:

  • Application Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)

    • Cosmetic

    • Food

    • Medical

  • Regional Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)

    • U.S.

Key questions answered by the report
Request for Customization

Choose License Type:

Single User - $4,950
Multi User - $7,950
Enterprise User - $9,950

Special Pricing & Discounts

Avail customized purchase options to meet your research needs:

  • Buy sections of this report
  • Buy country level reports
  • Request for historical data
  • Request discounts available for Start-Ups & Universities

Why Choose Us

  • Research support

    24/5 Research support

    Get your queries resolved from an industry expert. Request for a free product review before report purchase.

  • Custom research service

    Custom research service

    Speak to the report author to design an exclusive study to serve your research needs.

  • Quality assurance

    Quality assurance

    A testimonial for service excellence represented in the form of BBB "A" Accreditation.

  • BBB Rating dandb
  • Information security

    Information security

    Your personal and confidential information is safe and secure.

  • BOA