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Argan Oil Market Key Insights and Booming Factor Supporting Growth through 2017-2022 | Key Players are Young Living Essential Oils LC, Greenleaf Extractions Pvt Ltd., Biolandes, etc.
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Traditionally recognized for a wealth of cardio-protective properties, Argan oil is extensively used in treating various skin infection conditions. Moreover, a recent research has found out that the application base of Argan oil is widening – associated with the basic cardio-protective peculiarities. Argan oil is also found to possess unique organoleptic attributes, enabling it to create a multimillion dollar international market in the edible oils sector. Escalating consumer awareness about including essential edible oils in their dietary routine is expected to create highly competitive opportunities for Argan oil producers and processors in the near future. Sustainable tourism has been an effective source income for rural population over the decades. A number of active local cooperatives in the Argan oil production space that are based in the Middle East and North Africa have been lately gaining encouragement and strong support by BMZ (the German Federal Ministry for Economic Cooperation and Development) and GIZ (the Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH).
Both the authorities are promoting the initiative of sustainable tourism with an objective to uplift several women’s cooperatives that dedicatedly form a sizable workforce in traditionally significant Argan oil production practices. Furthermore, ecotourism – collectively with local tour operators and hotels - brings in exotic visitors who are ideal potential customers for traditionally significant practices such as Argan oil production. This and more such activities are expected to fuel the growth of Argan oil market in the near future.
High restorative qualities of Argan oil have been considered to be the primary factor pushing interests of cosmetic and anti-aging product manufacturers in Argan oil over the past decade. While Argan oil helps restore the elasticity, moisture, and nutrient content of facial as well as overall skin, it is most likely that the next few years will continue to witness surging traction for Argan oil in anti-aging products. Argan oil is also anticipated to experience elevating consumption in various topical pharmacological products, as it effectively addresses a wide array of skin health conditions. Exceptional advantages of using Argan oil for hair will continue to sustain the demand from the dermatological segment. Aromatherapy involves combined use of two or more essential oils, of which one is the essential oil carrier oil that sets the base for formulation of the primary essential oil blends to eventually deliver exceptional therapeutic effects on human body, generally skin. With growing popularity of the collective actions of essential and carrier oils such as smoother skin and relaxed muscles, Argan oil is presumed to witness significant traction as one of the top sought essential oil carrier oils in aromatherapy applications.
Local Argan Oil Producing Companies Gaining a Boost through Authoritative Financing
Financial support to Argan oil producing cooperatives has enabled several of them to implement the use of state-of-the-art machinery for various production steps – translating into improved product quality and quantity. In recent years, GIZ has sponsored equipment such as oil filters and pressed, roasting machines, and filling devices, in addition to providing financial aid for women’s professional training covering both business and technical aspects of a typical Argan oil production cooperative. Local companies are thus increasingly proposing and executing sophisticated marketing strategies to consistently push Argan oil sales, which offers an optimistic outlook to the Argan oil market scenario.
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Competitive Analysis: Global Argan Oil Market Space
The report on global Argan oil market entails in-depth insights on the competitive scenario in the Argan oil ecology. While Argan oil production has been following a set of traditional practices over the years, a number of key players in the global marketplace for Argan oil are focusing on innovating the Argan oil production technologies – prominently targeting an extended shelf life and improved efficiency of the product. Several stakeholders in the global Argan oil value chain are also augmenting investments in ongoing process amendments to achieve strategy optimization, financial flexibility, and long-term opportunity tracking. Among the leading multinational players participating in the global Argan oil market competition, a majority are investing efforts in R&D of innovative and effective substitutes – as a product differentiation strategy.
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