Argan Oil Market Size, Share, Growth Analysis, By Type (Conventional, Organic), By Form (Absolute, Blend), By Application, By Distribution Channel, By Region - Industry Forecast 2025-2032

Argan Oil Market size was valued at USD 177.4 billion in 2023 and is poised to grow from USD 206.85 billion in 2024 to USD 706.71 billion by 2032, growing at a CAGR of 16.6% during the forecast period (2025-2032).

The market for personal care and cosmetics is poised for significant growth, driven by rising consumer awareness of health and appearance. As individuals increasingly shift towards natural products to address skin and hair concerns like acne, dermatitis, and aging, the demand for organic skincare solutions intensifies. According to L'Oreal's Annual Report, the global cosmetics market is predicted to surpass 200 billion euros by 2031. This growth is further supported by the introduction of various argan oil-infused products by major players like L'Oreal and Lakme, particularly in markets such as the UK, France, and Germany. Additionally, the rising popularity of men's grooming products containing argan and essential oils is contributing to the industry's expansion, despite the labor-intensive process of argan oil production.

Top-down and bottom-up approaches were used to estimate and validate the size of the Argan Oil market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Argan Oil Market Segments Analysis

Global Argan Oil Market is segmented by Type, Form, Application, Distribution Channel and region. Based on Type, the market is segmented into Conventional and Organic. Based on Form, the market is segmented into Absolute and Blend. Based on Application, the market is segmented into Personal Care & Cosmetics, Medical, Food and Aromatherapy. Based on Distribution Channel, the market is segmented into B2B and B2C. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Driver of the Argan Oil Market

The growing popularity of argan oil in the production of frozen foods, desserts, confectioneries, snacks, and sweets is a significant driver for the argan oil market. Its unique flavor-enhancing properties make it a sought-after ingredient in a variety of food products, leading to increased consumption and demand. As more consumers seek out ingredients that add both taste and nutritional value to their meals, argan oil is becoming a preferred choice among manufacturers and culinary enthusiasts alike. This trend is expected to continue, further propelling the growth of the argan oil market as it finds its way into diverse food applications.

Restraints in the Argan Oil Market

The argan oil market is significantly hindered by its high level of segmentation and the widespread issues of adulteration and misleading labeling among various companies. This fragmentation makes it challenging to maintain quality control and consumer trust, leading to a restrictive growth environment. As businesses cut corners to compete, the authenticity of the product diminishes, further complicating market dynamics. Consequently, these factors contribute to a tough landscape for legitimate producers, limiting their ability to expand and thrive amid growing concerns over product integrity and consumer safety in the argan oil market.

Market Trends of the Argan Oil Market

The Argan Oil market is witnessing a significant upward trend, particularly in the personal care and cosmetics sectors, due to its renowned anti-aging properties. Major players like L'Oreal, Lakme, and Sephora are increasingly incorporating argan oil into a variety of products, including serums, lip balms, and face oils, catering to the growing consumer demand for natural and organic ingredients. This shift towards clean beauty not only enhances product efficacy but also aligns with consumers' preferences for sustainable and eco-friendly formulations. As awareness of argan oil's benefits continues to spread, the market is expected to expand markedly in the coming years.