Argan Oil Market Share , Size , Analysis , Growth , Trends and Forecasts to 2024 | 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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