Argan Oil Market Share, Size, Analysis, Growth, Trends and Forecasts to 2024 | Hexa Research
Hexa Research
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Argan Oil Market Share, Size, Analysis, Growth, Trends and Forecasts to 2024 | Hexa Research
The global argan oil market is anticipated to witness a 19.6 % CAGR in terms of volume, over the forecast period( 2016-2024). It had a market size totaling 3 kilotons( KT) in 2015. Rising applications in the medical sector and demand for argan-based beauty products will drive the market over the estimated period. This industry will generate over USD 2 billion by 2024. Positive regulatory scenario will foster market growth. Furthermore, technological innovations to improve microbiological & chemical quality will fuel demand.
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The global industry is segmented by applications and regions. Major applications are medical, food, and cosmetics. Cosmetics dominated the argan oil market with over 40 % demand in 2014. This sector should experience substantial growth in the coming years. The expanding personal care industry can positively influence overall demand. Argan oil
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