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 research report on U.S.
Argan Oil Market: http://www.grandviewresearch.com/industry-analysis/us-argan-oil-market
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.
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.
For more information: www.grandviewresearch.com
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