The U.S. argan oil market is
expected to reach USD 1.08 billion by 2025, according to a new report by Grand
View Research, Inc. 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.
Browse full report by Grand View
Research :
Further key findings from the report suggest:
·
The cosmetic segment accounted for 40.9% of
market volume in 2016 and is projected to reach a market valuation of USD 432.2
million by 2025
·
Argan oil is extensively used in
moisturizers, anti-aging creams, sun protection lotions, and a wide range of
hair treatment products
·
The medical segment is expected to witness
highest growth rate from 2017 to 2025
·
Argan extracts help accelerate wound
healing process, lower cholesterol levels, improve digestion, protect the
liver, manage diabetes, reduce inflammation, and boost heart health
·
Key companies such as Brenntag Specialties,
Moroccanoil. Inc., Josie Maran Cosmetic, and W.S. Badger Company, Inc. are
involved in production and distribution services
·
These companies have a dominant presence in
the value chain due to their strong product portfolio catering to a large number
of applications and extensive regional presence
·
Distributors are also engaged in taking up
private label contracts to meet specific packaging & branding requirements
of their clients
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/specialty-and-fine-chemicals
Grand View Research has
segmented the U.S. argan oil market on the basis of application:
Application Outlook (Volume, Tons; Revenue, USD Million,
2014 - 2025)
·
Cosmetic
·
Food
·
Medical
Regional Outlook (Volume, Tons; Revenue, USD Million,
2014 - 2025)
·
U.S.
Access press release by Grand View Research: http://www.grandviewresearch.com/press-release/us-argan-oil-market-analysis
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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