The global argan market is still dominated by Moroccan products. Professionals in the sector expect double-digit growth by 2024, during which time Moroccan production should always be in pole position.
The global market demand for argan and argan oil is growing steadily, especially for cosmetic uses. Morocco has always established itself as a reference in this area, because the kingdom has a favorable soil for the production of this plant which is very clean in Morocco. Indeed, many countries have tried to grow this tree, whose fruits are very popular in the cosmetic world, but without success.
That said, according to the data from the Market Reports for the period 2019-2024, Morocco is still positioned as a reference in this area, in particular through the performance on the international market of more than 18 national companies.
Morocco supplies various markets, particularly in North America (USA, Canada and Mexico), Europe (France, United Kingdom, Italy, Russia, and Germany), Asia (China, Japan, South Korea, India and Southeast Asia), South America (Brazil, Argentina, Colombia), and MENA and Africa (Saudi Arabia, Egypt, Nigeria, South Africa and the United Arab Emirates).
The production of the kingdom feeds primarily the cosmetic industry, where argan is used in dermatology and treatment of the scalp, but also in the food industry, since it represents a balanced food supplement for some patients and people suffering from food deficiencies.
Thus, it is expected that the national production records a significant boost during the said period, in particular for the production of argan oil for food, cosmetics and pharmaceuticals.
Regarding the attractiveness of the Moroccan market for its production, the report justifies this situation by the quality-price ratio proposed by the various companies of the kingdom, which benefit from a very competitive ecosystem, which allows them to have, each, of their own customers, even in comparison with the products offered by Algeria.