Argan Oil Market Size, Industry Analysis Report, Price Trend, Competitive Landscape & Forecast by 2023: Global Market Insights, Inc

Global argan oil market size was estimated at over 3 kilo tons in 2015. Increase in natural products demand from regions such as North America and Europe has prompted morocco government to raise production to 10 kilo tons by 2020 with creating new chain of modern argan farms.

Morocco argan oil production capacity is estimated at close to 4 kilo tons per annum. Increase in naturally derived ingredients demand for cosmetics & personal care products coupled with growing awareness of toxicity of fossil derived chemicals is likely to drive demand. They are widely preferred in cosmetic products and have found acceptance in Europe and U.S. argan oil market.
Morocco argan oil market exports count up to approximately 700 tons per year. Much of the oil is used I skin care & hair care products. Major personal care & cosmetic companies such a L’Oreal and Unilever source it to use in product portfolio. L’Oreal has introduced product under the brand name which is argan oil containing serum whereas, Unilever has introduced Dove hair care shampoos & conditioners containing the oil. L’Oreal procures argan oil in sufficient quantities from BASF, which buys from Morocco based Berber cooperatives.

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It contains essential fatty acids such as oleic acid (43-49.1%), linoleic acid (29.3-36%), stearic acid (4.3-7.2%) and palmitic acid (11.5-15%).They help in improving the structural benefit in membrane fluidity and epidermis barrier functions. This factor helps skin to store high levels of gamma tocopherols (vitamin E), which prove to be powerful antioxidants for neutralizing free radicals. It helps in protecting cell membranes from lipid oxidation which helps in slowing down ageing process.
Argan oil contains 200% more vitamin E (tocopherols) in comparision to olive oil, which acts as an anti oxidant and free radical scavenger. The manufacturers can derive up to 771 mg of tocopherols per kg of oil in comparison to 320 mg per kg of olive oil. It also increases the effectiness of sunscreen products and also helps in preventing & treating scars.
It also has high sterol content, particularly schottenol (44-49%) which attribute inhibitive properties to cellular development. This factor helps argan oil to substitute cholesterol for cosmetic applications Also five types of triterpenic alcohols including lupeol, were identified in argan oil which poses anti inflammatory properties useful for cosmetic applications. It also contains some copper traces which supports in developing collages for skin applications.

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The global argan oil market share is fragmented with production bases concentrated in Morocco. The market is unregulated with the presence of many manufacturers & traders supplying different quality of oil at different rates. Argan oil producers are engaged in trading domestically and export large quantities of the product. Some of the producers have trade names while some trade unbranded and few have retails offices in North America or Europe.
Major companies include Sidi Yassine, Marogonia, Vima Souss, Malak Bio, Amorre, BioAdorates, Zineglob and Mabioma. Sidi Yassine also has retail branch in Switzerland whereas Marogonia manufacture the product for Olvea. Some brand names include Tiwarga, Natubelle, Argamine,  Argane Achifae. Mabioma is engaged int exporting the product.