Argan Oil Market Set to Exceed $793M by 2032

The Argan oil market is on a significant growth trajectory, poised to exceed USD 793.01 million by 2032, driven by the increasing demand for natural and organic beauty products. This surge is attributed to a global consumer shift towards eco-luxury items, coupled with the rise of spa wellness tourism. The market size, which was valued at USD 375.44 million in 2024, is expected to grow at a CAGR of 9.80% over the forecast period from 2025 to 2032.

The preference for natural and organic products has propelled the application of Argan oil in various sectors such as personal care, culinary, and wellness. Scientific validation of its antioxidant, moisturizing, and heart-health benefits has further boosted its adoption worldwide. Brands like Josie Maran and Moroccan Oil are expanding their sustainably sourced offerings to cater to this growing demand, especially in regions like North America and Europe where vegan and cruelty-free trends are prevalent.

The US market for Argan oil, valued at USD 88.84 million in 2024, holds a substantial market share and is anticipated to witness significant growth in the coming years. The endorsement of topical Argan oil by regulatory bodies like the FDA has accelerated its adoption in the beauty and wellness sectors. Companies are focusing on sustainable sourcing practices and product innovations to meet the increasing consumer demand for natural beauty products.

The dominance of cosmetic-grade Argan oil in the market is attributed to its purity and benefits in skincare, haircare, and anti-aging products. Major brands are leveraging its moisturizing and anti-aging properties to create popular product lines, driving further demand in North America and Europe. Additionally, the personal care and cosmetics segment leads the market due to the extensive use of Argan oil in skincare, haircare, and anti-aging formulations.

North America emerged as the dominant region in the Argan oil market in 2024, accounting for a significant market share. This is fueled by consumer awareness of natural and organic beauty products, bolstered by certifications and endorsements from regulatory bodies. E-commerce platforms and marketing campaigns focusing on the benefits of Argan oil for skin and hair have also contributed to the region’s sustained growth.

Recent developments in the market include product launches like Josie Maran’s “Golden Hour” fragrance and initiatives like the International Argan Fair, showcasing sustainable practices in the industry. These events not only drive consumer excitement but also promote ethical sourcing and community empowerment within the Argan oil market.

In conclusion, the Argan oil market’s growth is indicative of the increasing consumer preference for natural and organic beauty products globally. With a focus on sustainability, innovation, and regulatory compliance, the market is poised for continued expansion, catering to the growing demand for eco-friendly and wellness-oriented products.