San
Francisco 8 May 2019 The Report Argan Oil Market Analysis By Application (Cosmetics, Food & Medical) And Segment
Forecasts To 2022
The global argan oil market is expected to reach USD 1.79 billion by 2022, according to a new report by Grand View Research, Inc. Expanding medical application base coupled with widening argan based cosmetic product lines is expected to drive global industry growth over the forecast period.
Growing preferences for health conscious
diet among population particularly in developed markets of North America and
Europe has been driving demand for healthy and low fat vegetable oil such as
argan oil which in turn is expected to enhance overall industry growth in the
near future.
Access Research Report of Argan Oil
Market@ http://www.grandviewresearch.com/industry-analysis/argan-oil-market
s
Further key findings from the report suggest:
· Global argan oil market was 4,835.5 tons in
2014 and is expected to reach 19,622.5 tons by 2022, growing at a CAGR of 19.6%
from 2015 to 2022.
· The product is considered as one of the
most expensive vegetable oil. This is on account of limited supply coupled with
high requirement. Expensive nature of product is expected to result into high
revenues over the forecast period.
· Cosmetics segment was the leading
application segment and accounted for over 40% of total demand in 2014 and is
expected to show significant growth in the coming years. Growth of personal
care industry is expected to drive this segment over the forecast period.
· Medical and food application areas are
expected to witness high growth rates over the forecast period. Product demand
in medical segment is expected to be driven by its potential to cure diseases
including cancer, inflammatory problems, cholesterol levels and food digestion.
· Middle East & Africa was the leading
regional market both in terms of production and consumption. Argan oil is
majorly consumed by rural economy of Morocco, which is major producer therefore
demand rate is higher in the region as compared to others.
· North America is expected to witness the
highest CAGR of 20.2% from 2014 to 2022 on account of its increasing demand in
cosmetics for hair treatment and skin care products and in medical industry for
disease treatment.
· Global industry has a limited number of
refiners and a strong distribution network on account of limited sources and
producing region. Key manufacturers include OLVEA, Nadifi Argan, Biopur and
Zineglob.
Browse more reports of this category by Grand View
Research at: https://www.grandviewresearch.com/industry/specialty-and-fine-chemicals
Grand View Research has
segmented the argan oil market on the basis of application and region:
Global Argan Oil Application Outlook
(Volume, Tons, Revenue, USD Million, 2012 - 2022)
·
Cosmetics
·
Food
·
Medical
Global Argan Oil Regional Outlook (Volume, Tons, Revenue,
USD Million, 2012 - 2022)
·
North America
·
Europe
·
Asia Pacific
·
Middle East & Africa
·
Central & South Africa
Access
Press Release of Argan Oil Market@ https://www.grandviewresearch.com/press-release/global-argan-oil-market
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.
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