Argan oil from Morocco promises a bright future

Published 2020년 7월 9일

Tridge summary

A market research study by Trusted Business Insights reveals that the argan oil market in Morocco is projected to grow at a CAGR of 20.7% from 2019 to 2026, reaching $70.3 million in 2018. This growth is attributed to the rising demand for natural ingredients in cosmetics and food products. The shift towards a healthier lifestyle due to the pandemic is also expected to boost demand. Furthermore, the efficiency of the production process in Morocco, which has shifted from manual to machine-based, and the varied biochemical components obtained through different extraction processes are expected to further fuel market growth. The use of organic argan oil in cosmetics as an active ingredient and its appeal as a clean product is also expected to drive demand.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The size of the argan oil market in Morocco was estimated at $ 70.3 million in 2018 and should reach a compound annual growth rate (CAGR) of 20.7% during the period 2019-2026, despite the crisis of the new coronavirus (Covid-19), according to a recent study by Trusted Business Insights. Increasing consumer preferences for natural ingredients in hair care and skin care products are expected to stimulate the market. Manufacturers of personal care and cosmetic products would favor the use of argan oil for the skin and hair. Thus, these initiatives should boost overall demand for argan oil from Morocco in the segment of cosmetic applications, according to the study. In addition, the global demand for products is increasing in food application due to a change in consumer preferences towards a healthy lifestyle due to the coronavirus. Technological innovation in the production process in Morocco played an important role because it replaced the manual extraction process ...

Source: Agrimaroc