PUBLISHER: Grand View Research | PRODUCT CODE: 1587768
PUBLISHER: Grand View Research | PRODUCT CODE: 1587768
The U.S. argan oil market size is anticipated to reach USD 240.8 million by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 12.8% from 2025 to 2030. Argan oil is a developing industry in the U.S. which is gaining importance on account of its high-performance ingredients. Growing disposable income, demand for branded luxury cosmetics, and preference for organic ingredients is anticipated to augment growth.
Medical is expected to emerge as a significant application segment in the coming years owing to argan oil potential for curing serious diseases such as cancer and arthritis. Unfavorable raw material trends are expected to hinder global industry growth on account of continuously increasing population in Morocco coupled with stable production. The government is making efforts to expand the cultivation. Israel, Mexico, and Algeria have initiated in argan crop cultivation to meet Morocco's argan oil demand.
The widening of distribution channels has made these products readily available to the consumer. Ongoing R&D investments and technological advancements in the area of processing ingredients have been the key factors responsible for driving industry growth over the past few years.
Product integration is the key strategy adopted by competitors in this market. This market has limited supply of raw materials hence provoking a price war among competitors. Argan oil draws its demand from cosmetics, food, and medical industry. The cosmetics segment accounted for the largest market share in 2015. Argan oil is also gaining acceptance in the food industry, where it is used for seasoning salad and as cooking oil in high-end restaurants in the U.S.