Argan Oil Market Analysis And Segment Forecasts To 2022

tyal Argan Oil Market Analysis By Application (Cosmetics, Food & Medical) And Segment Forecasts To 2022About Us Grand View Research, Inc. 28 2nd Street, Suite 3036 San Francisco, CA 94105 United States Phone: 1-415-349-0058 Email: [email protected]

Argan Oil Market Analysis and Segment Forecasts To 2022 About Us Grand View Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact- based research across a range of industries including Technology, Chemicals, Materials, and Energy. With a deep-seated understanding of many business environments, Grand View Research provides strategic objective insights. We periodically update our market research studies to ensure our clients get the most recent, relevant, and valuable information. Grand View Research has a strong base of analysts and consultants from assorted areas of expertise. Our industry experience and ability to zero-in on the crux of any challenge gives you and your organization the ability to secure a competitive advantage.Copyright © 2015 Grand View Research Inc., USAAll Rights Reserved. This document contains highly confidential information and is the soleproperty of Grand View Research. No part of it may be circulated, copied, quoted, or otherwisereproduced without the approval of Grand View Research.©Grand View Research, Inc., USA. All Rights Reserved Page | 2

Argan Oil Market Analysis and Segment Forecasts To 2022Table of ContentChapter 1 Methodology and Scope 1.1 Research methodology 1.2 Research Scope & Assumptions 1.3 List of data sourcesChapter 2 Executive Summary 2.1.1 Argan oil - Industry Summary & Key Buying CriteriaChapter 3 Argan oil Industry Outlook 3.1 Market segmentation 3.2 Market size and growth prospects, 2012-2022 3.3 Value chain analysis 3.3.1 Vendor landscape 3.4 Raw material trends 3.5 Regulatory/legislative framework 3.6 Argan oil market dynamics 3.6.1 Market driver analysis 3.6.1.1 Miraculous health benefits offered by argan oil 3.6.2 Market restraint analysis 3.6.2.1 Limited number of argan trees 3.7 Key opportunities - Prioritized 3.8 Industry analysis - Porter’s analysis 3.9 Argan oil PESTEL analysisChapter 4 Argan oil Application Outlook 4.1 Global argan oil market volume share by application, 2014 & 2022 4.2 Cosmetics 4.2.1 Global argan oil market estimates & forecasts in cosmetics, 2012 – 2022 4.3 Food 4.3.1 Global argan oil market estimates & forecasts in food, 2012 – 2022 4.4 Medical 4.4.1 Global argan oil market estimates & forecasts in medical, 2012 – 2022©Grand View Research, Inc., USA. All Rights Reserved Page | 3

Argan Oil Market Analysis and Segment Forecasts To 2022Chapter 5 Argan oil Regional Outlook5.1 Global argan oil market volume share by region, 2014 & 20225.2 North America5.2.1 North America argan oil market estimates and forecast, 2012 – 20225.2.2 U.S. 5.2.2.1 U.S. argan oil market estimates and forecast, 2012 – 20225.3 Europe5.3.1 Europe argan oil market estimates and forecast, 2012 – 20225.3.2 Germany 5.3.2.1 Germany argan oil market estimates and forecast, 2012 – 20225.4 Asia Pacific5.4.1 Asia Pacific argan oil market estimates and forecast, 2012 – 20225.4.2 China 5.4.2.1 China argan oil market estimates and forecast, 2012 – 20225.4.3 Japan 5.4.3.1 Japan argan oil market estimates and forecast, 2012 – 20225.5 Middle East & Africa5.5.1 Middle East & Africa argan oil market estimates and forecast, 2012 – 20225.5.2 Morocco 5.5.2.1 Morocco argan oil market estimates and forecast, 2012 – 20225.6 Central & South America5.6.1 Central & South America argan oil market estimates and forecast, 2012 – 2022Chapter 6 Competitive Landscape 6.1 OLVEA 6.1.1 Company Overview 6.1.2 Financial Performance 6.1.3 Product Benchmarking 6.2 Arganisme 6.2.1 Company Overview 6.2.2 Financial Performance©Grand View Research, Inc., USA. All Rights Reserved Page | 4

Argan Oil Market Analysis and Segment Forecasts To 2022 Page | 5 6.2.3 Product Benchmarking 6.3 Biopur 6.3.1 Company Overview 6.3.2 Financial Performance 6.3.3 Product Benchmarking 6.4 Zineglob 6.4.1 Company Overview 6.4.2 Financial Performance 6.4.3 Product Benchmarking 6.5 Nadifi Argan 6.5.1 Company Overview 6.5.2 Financial Performance 6.5.3 Product Benchmarking 6.6 Argania 6.6.1 Company Overview 6.6.2 Financial Performance N6.6.3 Product Benchmarking 6.7 Brenntag Specialities 6.7.1 Company Overview 6.7.2 Financial Performance 6.7.3 Product Benchmarking 6.8 Aura Cacia 6.8.1 Company Overview 6.8.2 Financial Performance 6.8.3 Product Benchmarking 6.9 Argan Oils 6.9.1 Company Overview 6.9.2 Financial Performance 6.9.3 Product Benchmarking 6.10 Simply Agadir 6.10.1 Company Overview 6.10.2 Financial Performance 6.10.3 Product Benchmarking 6.11 Argan Export Company 6.11.1 Company Overview ©Grand View Research, Inc., USA. All Rights Reserved

Argan Oil Market Analysis and Segment Forecasts To 2022 6.11.2 Financial Performance 6.11.3 Product Benchmarking 6.12 Purus 6.12.1 Company Overview 6.12.2 Financial Performance 6.12.3 Product Benchmarking 6.13 Melvita 6.13.1 Company Overview 6.13.2 Financial Performance 6.13.3 Product Benchmarking 6.14 Babybliss Pro 6.14.1 Company Overview 6.14.2 Financial Performance 6.14.3 Product Benchmarking 6.15 John Masters 6.15.1 Company Overview 6.15.2 Financial Performance 6.15.3 Product Benchmarking©Grand View Research, Inc., USA. All Rights Reserved Page | 6

Argan Oil Market Analysis and Segment Forecasts To 2022List of TablesTABLE 1 Argan oil - Industry Summary & Key Buying CriteriaTABLE 2 Global argan oil market estimates, 2012 – 2014 (Tonnes )(USD Million)TABLE 3 Global argan oil market estimates & forecasts, 2015 – 2022, (Tonnes )(USD Million)TABLE 4 Global argan oil market volume estimates by region, 2012 – 2014 (Tonnes)TABLE 5 Global argan oil market volume estimates & forecasts by region, 2015 – 2022, (Tonnes)TABLE 6 Global argan oil market revenue estimates by region, 2012 – 2014 (USD Million)TABLE 7 Global argan oil market revenue estimates & forecasts by region, 2015 – 2022, (USD Million)TABLE 8 Global argan oil market volume estimates by application, 2012 – 2014 (Tonnes)TABLE 9 Global argan oil market volume estimates & forecasts by application, 2015 – 2022, (Tonnes)TABLE 10 Global argan oil market revenue estimates by application, 2012 – 2014 (USD Million)TABLE 11 Global argan oil market revenue estimates & forecasts by application, 2015 – 2022, (USD Million)TABLE 12 Argan oil key market driver analysisTABLE 13 Argan oil – key market restraint analysisTABLE 14 Global argan oil market estimates in cosmetics, 2012 - 2014 (Tonnes )(USD Million)TABLE 15 Global argan oil market estimates & forecasts in cosmetics, 2015 – 2022 (Tonnes)(USD Million)TABLE 16 Global argan oil market volume estimates in cosmetics by region, 2012 – 2014 (Tonnes)TABLE 17 Global argan oil market volume estimates & forecasts in cosmetics by region, 2015 – 2022 (Tonnes)TABLE 18 Global argan oil market revenue estimates in cosmetics by region, 2012 – 2014 (USD Million)TABLE 19 Global argan oil market revenue estimates forecasts in cosmetics by region, 2015 – 2022 (USD Million)TABLE 20 Global argan oil market estimates in food, 2012 - 2014 (Tonnes )(USD Million)TABLE 21 Global argan oil market estimates & forecasts in food, 2015 – 2022 (Tonnes)(USD Million)TABLE 22 Global argan oil market volume estimates in food by region, 2012 – 2014 (Tonnes)TABLE 23 Global argan oil market volume estimates & forecasts in food by region, 2015 – 2022 (Tonnes)TABLE 24 Global argan oil market revenue estimates in food by region, 2012 – 2014 (USD Million)TABLE 25 Global argan oil market revenue estimates forecasts in food by region, 2015 – 2022 (USD Million)TABLE 26 Global argan oil market estimates in medical, 2012 - 2014 (Tonnes )(USD Million)©Grand View Research, Inc., USA. All Rights Reserved Page | 7

Argan Oil Market Analysis and Segment Forecasts To 2022TABLE 27 Global argan oil market estimates & forecasts in medical, 2015 – 2022 (Tonnes)(USD Million)TABLE 28 Global argan oil market volume estimates in medical by region, 2012 – 2014 (Tonnes)TABLE 29 Global argan oil market volume estimates & forecasts in medical by region, 2015 – 2022 (Tonnes)TABLE 30 Global argan oil market revenue estimates in medical by region, 2012 – 2014 (USD Million)TABLE 31 Global argan oil market revenue estimates forecasts in medical by region, 2015 – 2022 (USD Million)TABLE 32TABLE 33 North America argan oil market estimates, 2012-2014 (Tonnes)(USD Million)TABLE 34 North America argan oil market estimates and forecasts, 2015-2022 (Tonnes)(USD Million)TABLE 35 North America argan oil market volume estimates by application, 2012-2014TABLE 36 (Tonnes)TABLE 37 North America argan oil market volume estimates & forecasts by application, 2012- 2014 (Tonnes)TABLE 38TABLE 39 North America argan oil market revenue estimates by application, 2012-2014TABLE 40 (USD Million)TABLE 41 North America argan oil market revenue estimates, by application, 2012-2014TABLE 42 (USD Million)TABLE 43TABLE 44 U.S. argan oil market estimates, 2012-2014 (Tonnes)(USD Million)TABLE 45 U.S. argan oil market estimates and forecasts, 2015-2022 (Tonnes)(USD Million)TABLE 46TABLE 47 U.S. argan oil market volume estimates by application, 2012-2014 (Tonnes)TABLE 48 U.S. argan oil market volume estimates & forecasts by application, 2012-2014 (Tonnes)TABLE 49 U.S. argan oil market revenue estimates by application, 2012-2014 (USD Million)TABLE 50TABLE 51 U.S. argan oil market revenue estimates, by application, 2012-2014 (USD Million)TABLE 52 Europe argan oil market estimates, 2012-2014 (Tonnes)(USD Million) Europe argan oil market estimates and forecasts, 2015-2022 (Tonnes)(USD Million) Europe argan oil market volume estimates by application, 2012-2014 (Tonnes) Europe argan oil market volume estimates & forecasts by application, 2012-2014 (Tonnes) Europe argan oil market revenue estimates by application, 2012-2014 (USD Million) Europe argan oil market revenue estimates, by application, 2012-2014 (USD Million) Germany argan oil market estimates, 2012-2014 (Tonnes)(USD Million) Germany argan oil market estimates and forecasts, 2015-2022 (Tonnes)(USD Million) Germany argan oil market volume estimates by application, 2012-2014 (Tonnes)©Grand View Research, Inc., USA. All Rights Reserved Page | 8

Argan Oil Market Analysis and Segment Forecasts To 2022TABLE 53 Germany argan oil market volume estimates & forecasts by application, 2012-2014 (Tonnes)TABLE 54 Germany argan oil market revenue estimates by application, 2012-2014 (USDTABLE 55 Million)TABLE 56 Germany argan oil market revenue estimates, by application, 2012-2014 (USDTABLE 57 Million)TABLE 58 Asia Pacific argan oil market estimates, 2012-2014 (Tonnes)(USD Million)TABLE 59 Asia Pacific argan oil market estimates and forecasts, 2015-2022 (Tonnes)(USDTABLE 60 Million)TABLE 61 Asia Pacific argan oil market volume estimates by application, 2012-2014 (Tonnes)TABLE 62 Asia Pacific argan oil market volume estimates & forecasts by application, 2012-TABLE 63 2014 (Tonnes)TABLE 64TABLE 65 Asia Pacific argan oil market revenue estimates by application, 2012-2014 (USD Million)TABLE 66TABLE 67 Asia Pacific argan oil market revenue estimates, by application, 2012-2014 (USDTABLE 68 Million)TABLE 69TABLE 70 China argan oil market estimates, 2012-2014 (Tonnes)(USD Million)TABLE 71 China argan oil market estimates and forecasts, 2015-2022 (Tonnes)(USD Million)TABLE 72TABLE 73 China argan oil market volume estimates by application, 2012-2014 (Tonnes)TABLE 74 China argan oil market volume estimates & forecasts by application, 2012-2014TABLE 75 (Tonnes)TABLE 76 China argan oil market revenue estimates by application, 2012-2014 (USD Million)TABLE 77 China argan oil market revenue estimates, by application, 2012-2014 (USD Million)TABLE 78 Japan argan oil market estimates, 2012-2014 (Tonnes)(USD Million)TABLE 79 Japan argan oil market estimates and forecasts, 2015-2022 (Tonnes)(USD Million) Japan argan oil market volume estimates by application, 2012-2014 (Tonnes) Japan argan oil market volume estimates & forecasts by application, 2012-2014 (Tonnes) Japan argan oil market revenue estimates by application, 2012-2014 (USD Million) Japan argan oil market revenue estimates, by application, 2012-2014 (USD Million) Middle East & Africa argan oil market estimates, 2012-2014 (Tonnes)(USD Million) Middle East & Africa argan oil market estimates and forecasts, 2015-2022 (Tonnes)(USD Million) Middle East & Africa argan oil market volume estimates by application, 2012-2014 (Tonnes) Middle East & Africa argan oil market volume estimates & forecasts by application, 2012-2014 (Tonnes) Middle East & Africa argan oil market revenue estimates by application, 2012-2014 (USD Million) Middle East & Africa argan oil market revenue estimates, by application, 2012- 2014 (USD Million)©Grand View Research, Inc., USA. All Rights Reserved Page | 9

Argan Oil Market Analysis and Segment Forecasts To 2022TABLE 80 Morocco argan oil market estimates, 2012-2014 (Tonnes)(USD Million)TABLE 81TABLE 82 Morocco argan oil market estimates and forecasts, 2015-2022 (Tonnes)(USDTABLE 83 Million)TABLE 84TABLE 85 Morocco argan oil market volume estimates by application, 2012-2014 (Tonnes)TABLE 86TABLE 87 Morocco argan oil market volume estimates & forecasts by application, 2012-2014TABLE 88 (Tonnes)TABLE 89TABLE 90 Morocco argan oil market revenue estimates by application, 2012-2014 (USDTABLE 91 Million) Morocco argan oil market revenue estimates, by application, 2012-2014 (USD Million) Central & South America argan oil market estimates, 2012-2014 (Tonnes)(USD Million) Central & South America argan oil market estimates and forecasts, 2015-2022 (Tonnes)(USD Million) Central & South America argan oil market volume estimates by application, 2012- 2014 (Tonnes) Central & South America argan oil market volume estimates & forecasts by application, 2012-2014 (Tonnes) Central & South America argan oil market revenue estimates by application, 2012- 2014 (USD Million) Central & South America argan oil market revenue estimates, by application, 2012- 2014 (USD Million)©Grand View Research, Inc., USA. All Rights Reserved Page | 10

Argan Oil Market Analysis and Segment Forecasts To 2022List of FiguresFIG. 1 Argan oil market segmentationFIG. 2 Global argan oil market volume estimates and forecast, 2012 – 2022 (Tonnes)FIG. 3 Global argan oil market volume growth by region, 2012-2022 (Tonnes)FIG. 4 Argan oil value chain analysisFIG. 5 Argan oil market dynamicsFIG. 6 Key opportunities - PrioritizedFIG. 7 Argan oil - Porter’s analysisFIG. 8 Argan oil PESTEL analysisFIG. 9 Global argan oil market volume share by application, 2014 & 2022FIG. 10 Global argan oil market volume share by region, 2014 & 2022©Grand View Research, Inc., USA. All Rights Reserved Page | 11

Argan Oil Market Analysis and Segment Forecasts To 2022Chapter 1 Methodology and Scope1.1 Research methodologyWe implement a mix of primary and secondary research for our market estimate and forecast.Secondary research forms the initial phase of our study, where we conducted extensive datamining, referring to verified data sources such as independent studies, government andregulatory published material, technical journals, trade magazines paid data sources. This formsthe basis of our estimates.For forecasting, the following parameters were considered,  Market drivers and restraints, along with their current and expected impact  Technological scenario and expected developments  End-use industry trends and dynamics  Trends in consumer behaviorWe assigned weights to these parameters and have quantified their market impact usingweighted average analysis, to derive an expected market growth rate.All our estimates and forecasts were verified through exhaustive primary research with KeyIndustry Participants (KIPs) which typically include,  Market leading companies  Raw material manufacturers  System integratorsThe key objectives of primary research are as follows,  To validate our data in terms of accuracy and acceptability  To gain an insight in to the current market and future expectations1.2 Research Scope & AssumptionsThe report provides market value for base year 2014 and a yearly forecast to 2022 in terms ofvolume (Kilo Tons) and revenue (USD Million). Market for each product and application hasbeen provided on a regional basis for the above mentioned forecast period.©Grand View Research, Inc., USA. All Rights Reserved Page | 12

Argan Oil Market Analysis and Segment Forecasts To 2022Key industry dynamics, regulatory scenario, major technological trends and application marketswere evaluated to understand their impact on demand for the forecast period. Growth rateshave been estimated using correlation, regression and time-series analysis.We have used a bottom-up approach for market sizing, analyzing key regional markets,dynamics and trends for various end-uses. Global market has been estimated by integratingregional markets.All market estimates and industry analysis have been validated through exhaustive primaryresearch with key industry participants and consumers.Assumptions while estimating and forecasting the global argan oil market,  We have included only the key products and application segments in order to keep the scope of the report to manageable proportion.  We have profiled key manufacturers and suppliers in the market  xxxxxxxxxxxxxxxxxxxx  xxxxxxxxxxxxxxxxxxxx  xxxxxxxxxxxxxxxxxxxx1.3 List of data sourcesSome of the secondary sources used for this report include but are not limited to:  RARBA  IDRC  Ibn Al Baytar  AMIGHA  European Federation for Cosmetic Ingredients  National Center for Biotechnology Information  Food & Drug Administration  Japan Cosmetics Industry Association  Association of International Food & NutritionSome of the primary sources used for this report include but are not limited to: Page | 13©Grand View Research, Inc., USA. All Rights Reserved

Argan Oil Market Analysis and Segment Forecasts To 2022  xxx  xxx  xxx  xxx©Grand View Research, Inc., USA. All Rights Reserved Page | 14

Argan Oil Market Analysis and Segment Forecasts To 2022 Chapter 2 Executive Summary 2.1.1Argan oil - Industry Summary & Key Buying CriteriaTABLE 1Argan oil - Industry Summary & Key Buying CriteriaMarket size 2013 2015 20222015 - 2022 USD 282.8 Million USD 407.0 Million USD 1,795.0 MillionMarket Application 2015 2022application size Cosmetics 42.25% 41.45% Food 26.59% 26.58% Medical 31.16% 31.97%Market summary Argan oil is an essential oil widely used in cosmetics, medical and food application areas. The product is considered as most expensive vegetable oil globally. Argan oil is aPotential growth complex blend of crucial nutrients and vitamins which is increasing its preference inopportunities medical and cosmetic industries globally. The product is expected to gain importance inPESTEL Analysis Asia Pacific mainly China and India owing to technological advancements in cosmetic industry. Limited availability coupled with expensive nature is expected to restrain globalCritical Success industry over the forecast period.Factors (CSFs)  Aging population in Europe and Asia Pacific  Market potential in medical industry, which includes cancer treatment, arthritis and obesity Argan oil market is a developing market which is expected to gain importance on account of increasing preferences in hair treatment and skincare products. Asia Pacific is expected to witness maximum growth owing to developments in cosmetic industry. The market is also expected to increase its consumption in medical industry for cancer treatment, arthritis, obesity, skin acne and ailments. Favorable political, economic, social, technological, environmental and legal factors are expected to positively impact overall industry growth.  Government initiatives to almost double the production over the forecast period  International skin care and hair care companies are increasing its argan oil consumption on account of its increasing importance among consumersArgan oil, one of the most expensive vegetable oil, is expected to gain importance as cooking oilfor healthy lifestyle. The product is also used for other culinary purposes including bread dip,xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx©Grand View Research, Inc., USA. All Rights Reserved Page | 15

Argan Oil Market Analysis and Segment Forecasts To 2022TABLE 2Global argan oil market estimates, 2012 – 2014 (Tonnes) (USD Million) 2012 2013 2014Volume (Tonnes) 3,650.0 xx xx xxRevenue (USD Million) 236.8 xxGlobal argan oil market volume was xx tonnes in 2012 and xx tonnes in 2013. The market wasvalued at USD xx million in 2012 and USD xx million in 2013. Expensive argan oils coupled withhigh demand in skin care and cosmetic products generated high revenues in the past years.TABLE 3Global argan oil market estimates & forecasts, 2015 – 2022, (Tonnes) (USD Million) 2015 2016 2017 2018 2019 2020 2021 2022 CAGR (2015- 22)Volume xx xx xx xx xx xx xx xx xx%(Tonnes)Revenue xx xx xx xx xx xx xx xx xx%(USD Million)Global argan oil market revenue is expected to grow at an extremely high CAGR of xx% from2015- 2022 on account of developments in cosmetic industry. Further, widening of applicationbase such as medical and food is expected to enhance overall market revenue over theforeseeable future.TABLE 4Global argan oil market volume estimates by region, 2012 – 2014 (Tonnes) Region 2012 2013 2014North America 1,136.8 850.1 980.9Europe 698.6 802.1 928.4Asia Pacific 610.6 703.3 815.3MEA 1,396.9 1,593.4 1,832.2CSA 93.8 106.8 122.8Total 3,650.0 4,186.6 4,835.5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx©Grand View Research, Inc., USA. All Rights Reserved Page | 16

Argan Oil Market Analysis and Segment Forecasts To 2022TABLE 5Global argan oil market volume estimates & forecasts by region, 2015 – 2022, (Tonnes) Region 2015 2016 2017 2018 2019 2020 2021 2022 CAGR xx xx xx xx xx xx xx (2015-NorthAmerica 22) xx xx%Europe xx xx xx xx xx xx xx xx xx%Asia xx xx xx xx xx xx xx xx xx%PacificMEA xx xx xx xx xx xx xx xx xx%CSA xx xx xx xx xx xx xx xx xx%Total xx xx xx xx xx xx xx xx xx%xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxTABLE 6Global argan oil market revenue estimates by region, 2012 – 2014 (USD Million) Region 2012 2013 2014North America 80.1 97.1 117.3Europe 61.4 72.4 87.8Asia Pacific 47.0 56.9 67.9MEA 40.7 47.6 55.8CSA 7.6 8.9 10.5Total 236.8 282.8 339.3On account of extremely expensive nature, maximum revenues were generated by NorthAmerica market followed by Europe. MEA market was valued at USD xx million in 2012 and USDxx million in 2013 as the product is found in the region and is consumed by rural economy whilerefined oil is used by end use industries in other regions.TABLE 7Global argan oil market revenue estimates & forecasts by region, 2015 – 2022, (USD Million)©Grand View Research, Inc., USA. All Rights Reserved Page | 17

Argan Oil Market Analysis and Segment Forecasts To 2022 Region 2015 2016 2017 2018 2019 2020 2021 2022 CAGR (2015-North xx xx xx xx xx xx xxAmerica xx xx xx xx xx xx xx 22)Europe xx xx xx xx xx xx xxAsia xx xx xx xx xx xx xx xx xx%Pacific xx xx xx xx xx xx xxMEA xx xx xx xx xx xx xx xx xx%CSA xx xx%Total xx xx% xx xx% xx xx%North America industry volume was USD xx million in 2014 and is expected to grow at a highestCAGR of xx% from 2015 to 2022. MEA is expected to witness stable growth on account ofinexpensive nature of oil.TABLE 8Global argan oil market volume estimates by application, 2012 – 2014 (Tonnes) Application 2012 2013 2014Cosmetics 1,565.6 1,786.4 2,053.5Food 962.7 1,106.9 1,282.0Medical 1,121.7 1,293.2 1,500.0Total 3,650.0 4,186.6 4,835.5xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxTABLE 9Global argan oil market volume estimates & forecasts by application, 2015 – 2022, (Tonnes)Application 2015 2016 2017 2018 2019 2020 2021 2022 CAGR (2015- 22)Cosmetics xx xx xx xx xx xx xx xx xx%Food xx xx xx xx xx xx xx xx xx%©Grand View Research, Inc., USA. All Rights Reserved Page | 18

Argan Oil Market Analysis and Segment Forecasts To 2022Medical xx xx xx xx xx xx xx xx xx%Total xx xx xx xx xx xx xx xx xx%xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxTABLE 10 Global argan oil market revenue estimates by application, 2012 – 2014 (USD Million) Application 2012 2013 2014Cosmetics xx xx xxFood xx xx xxMedical xx xx xxTotal xx xx xxCosmetics segment generated maximum revenues on account of their expensive naturecoupled with diversified product lines. The market was valued at USD xx million in 2012 andUSD xx million in 2013.TABLE 11 Global argan oil market revenue estimates & forecasts by application, 2015 – 2022, (USD Million)Application 2015 2016 2017 2018 2019 2020 2021 2022 CAGR (2015- 22)Cosmetics 186.2 xx xx xx xx xx xx xx xx%Food xx xx xx xx xx xx xx xx xx%Medical xx xx xx xx xx xx xx xx xx%Total xx xx xx xx xx xx xx xx xx%xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx©Grand View Research, Inc., USA. All Rights Reserved Page | 19

Argan Oil Market Analysis and Segment Forecasts To 2022Chapter 3 Argan oil Industry Outlook 3.1 Market segmentation FIG. 1 Argan oil market segmentation Argan OilApplication Region• Cosmetics • North America• Food • Europe• Medical • Asia Pacific • Middle East & Africa • Central & South AmericaArgan oils are extracted from kernels of argan trees. These trees are commonly found inMorocco and oil extracted is used for living by rural economy. There are two grades of argan oilwhich include culinary argan oil grade and cosmetic argan oil grade. Culinary grade is a roastedargan oil form which is used as a vegetable oil and in salads, couscous, amlou and bread.Cosmetic argan oil grade is unrefined/unroasted form which is used in skin care and hairtreatment products.©Grand View Research, Inc., USA. All Rights Reserved Page | 20

Argan Oil Market Analysis and Segment Forecasts To 2022 xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx 3.2 Market size and growth prospects, 2012-2022 FIG. 2 Global argan oil market volume estimates and forecast, 2012 – 2022 (Tonnes)2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Volume (Tonnes)Global argan oil market volume was xx tonnes in 2014 and is expected to reach xx by 2022.The market is expected to grow at a high CAGR of xx% from 2015 to 2022. Argan oil is adeveloping market which is gaining importance on account of its high performance ingredientswhich include nutrients and vitamins namely anti-oxidant tocopherols, lupeol, omega 3 & omega6 fatty acids, butyrospermol, triterpenoids and beta amyrine. The complex blend of vitamins andnutrients has increased vitamin E content in the oil, helps in accelerating cell growth andstrengthens its antiseptic & anti inflammatory features.International skincare and haircare manufacturers are increasing its argan oil consumption foradvanced cosmetic solutions to ensure healthy skin and hair. Such initiatives are expected todrive overall product demand in the cosmetic application segment. Food division is alsoboosting global argan oil demand on account of consumer shift towards healthy lifestyle.Healthy and fat free lifestyle accelerates the demand for healthy vegetable oil including argan©Grand View Research, Inc., USA. All Rights Reserved Page | 21

Argan Oil Market Analysis and Segment Forecasts To 2022FIG. 3 Global argan oil market volume growth by region, 2012-2022 (Tonnes)8,000.07,000.06,000.05,000.04,000.03,000.02,000.01,000.0- 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 North America Europe Asia Pacific MEA CSAIncreasing demand for natural and organic cosmetics is expected to drive argan oil demand inNorth America. Continuous efforts by research institutions to identify medical potential of arganoil are expected to further enhance overall consumption levels over the forecast period. NorthAmerica is also enhancing argan oil consumption for food application including vegetable oil.Xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx©Grand View Research, Inc., USA. All Rights Reserved Page | 22

Argan Oil Market Analysis and Segment Forecasts To 20223.3 Value chain analysis FIG. 4 Argan oil value chain analysis High degree of integration by Zineglob and Arganisme Manufacturer/Refiner Distributor/ End-use Trader/Seller IndustriesArgan trees Argan oil extracted Distributor •Argan Oils •Skin care from kernels using •Cosmetics Found in traditional method or Seller/ •The Moroccan •FoodMorocco, far mechanical process by Marketer Argan Oil Inc. •Medicalnorth-west of local women (Morocco) working in Trader •Simply Agadir •W.S. Badger Co, Africa cooperatives •Argan Export Inc. Company •Neuma •OLVEA •Moroccan Oil •Biopur •Babyliss Pro •Nadifi Argan •John Masters •Melvita •Josie Maran •Argania •Brenntag specialties •AuracaciaArgan oil value chain involves wide range of raw materials, cooperatives, manufacturersproducing argan oils using natural or mechanical processes, well established distributionnetwork and specific range of end-use industries.Argan oils are extracted from argan trees which are mainly grown in Morocco. Other countrieswhich are making initiatives to cultivate argan trees are Mexico, Algeria and Israel. Argan fruitsxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx.©Grand View Research, Inc., USA. All Rights Reserved Page | 23

Argan Oil Market Analysis and Segment Forecasts To 20223.3.1 Vendor landscapeCompany Role Products/ Brands Application Regional PresenceOLVEA Producer  Argon oil Used for skincare, (Virgin) hair treatment, food Europe and seasoning  Argon oil applications (Virgin and       3.4 Raw material trendsArgan oil is extracted from argan seeds in the nuts. These fruits containing nuts grows on theargan trees. The quality of oil depends upon type of extraction process as well as arganiaspinosa kernel quality.There are different harvesting methods of argan oil which include:  Recently introduced mechanical method  Collection of argan nuts falling from the trees at a particular time period mainly in July end or August beginning. These argan nuts are gathered by local women who also use stones to make these nuts fell from the trees.  Another method is when the goat climbs on the trees and eat the fleshy party, leaving behind argan nuts Traditionally, argan oil harvesting using goats was used by local women and manufacturers as the process was safe and clean owing to bullet-proof shell protection of the kernels and cleaning of uncracked argan nuts before extraction process. But now the process is©Grand View Research, Inc., USA. All Rights Reserved Page | 24

Argan Oil Market Analysis and Segment Forecasts To 20223.5 Regulatory/legislative frameworkThe global market is characterized by favorable regulatory norms by various agencies acrossthe globe. While there is a well-established regulatory structure in developed regions, such asNorth America and Europe, emerging economies are still enhancing the framework to ensureproper protection of health. Some of the important regulations by bodies include the following: Regulation DescriptionRegulation (EC) No1223/2009 Cosmetics regulation by European CommissionEuropean Organic “The safety of cosmetic products and their ingredients may beRegulation (EC) No ensured through the use of alternative methods which are not889/2008 necessarily applicable to all uses of chemical ingredients. Therefore, the use of such methods by the whole cosmetic industry21 CFR 701.3 should be promoted and their adoption at Community level should be ensured, where such methods offer an equivalent level of protection to consumers.” “Laying down detailed rules for the implementation of Council Regulation (EC) No 834/2007 on organic production and labeling of organic products with regard to organic production, labeling and control.” Declaration of ingredient by FDA “Cosmetics produced or distributed for retail sale to consumers for their personal care are required to bear an ingredient declaration (21 CFR 701.3).” “Color additives (21 CFR 701.3(f)(3)) and ingredients present at one percent or less (21 CFR 701.3(f)(2)) may be declared without regard for predominance. The ingredients must be identified by the names established or adopted by regulation (21 CFR 701.3(c)); those accepted by the FDA as exempt from public disclosure may be stated as \"and other ingredients\" (21 CFR 701.3(a)).”©Grand View Research, Inc., USA. All Rights Reserved Page | 25

Argan Oil Market Analysis and Segment Forecasts To 20223.6 Argan oil market dynamicsFIG. 5 Argan oil market dynamics Technology trends • Technological innovation has played an important role as they have replaced manual extraction processes with machines • This has led to better argan oil quality and less time • Technology is expected to further help in improving microbial and chemical quality of oil and make it best possible solution for cosmetics, food and medical industriesRaw material trends Regulatory trends• Argan oil is extracted from argan Argan Oil • Favorable regulatory trends is driving trees found in Morocco therefore market product market growth in end use supply of argan oil purely depends industries mainly cosmetics on trees population in the region Buyer/application trends • Europe is regulating argan oil use in• Growing population in the country is cosmetics by Regulation EC resulting into extinction of trees 1223/2009 which states that the which in turn is expected to lower safety of each cosmetic product in the overall supply European Union market is assessed and proven by a Safety Assessor,• On account of availability of single with all the requirements and source in the market, prices are so academic titles provided for by the high that they are considered as European Regulations, as well as a most expensive vegetable oil fundamental experience in this field. globally • Key hair and skin care industry participants including L’Oreal and Unilever are expected to increase their argan oil consumption owing to its increasing pref erences among consumers • Medical is an emerging application segment and is expected to gain importance globally. This organic product is expected to cure cancer, arthritis, control cholesterol levels and remove skin ailments • Demand-supply disruptions are expected to be experienced by manufacturersIncreasing demand for argan oil in cosmetic, food, medical industries is driving need forimproved chemical and microbial quality of argan oil which in turn is expected to drive role oftechnology in global argan oil industry. As argan is an organic product therefore regulations arefavoring the product use in food and cosmetic industries. Over the forecast period,manufacturers mainly cosmetic and food are expected to experience demand-supply gap which©Grand View Research, Inc., USA. All Rights Reserved Page | 26

Argan Oil Market Analysis and Segment Forecasts To 2022xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx 3.6.1 Market driver analysis 2015-17 2018-20 2020-22TABLE 12 Argan oil key market driver analysis Impact Market driversMiraculous health benefits offered by argan oil3.6.1.1 Miraculous health benefits offered by argan oilArgan oil consists of essential vitamins and nutrients including lupeol, anti-oxidant tocopherols,butyrospermol, essential fatty acids, triterpenoids and beta amyrine. This complex blend ofvitamins and nutrients is a perfect solution for culinary as well as cosmetic applications as theseingredients strengthens antiseptic & anti-inflammatory features of argan oil and increases thecontent of vitamin E & omega 3 and omega 6 healthy fatty acids.Some of the important health benefits provided by argan oil (on account of presence of essentialvitamins and nutrients) include:  Improves digestion: Argan oil, when used as a food additive, helps in enhancing digestion process of the body as it stimulates the pepsin concentration in gastric juices which leads to proper food digestion. It is important to have proper food digestion for healthy life as for human body better digestion helps in reducing weight and boosting energy levels.  Argan oil helps in lowering cholesterol levels: Culinary grade oil, which has no pungent smell and has higher omega fatty acid content as compared cosmetic grade argan oil, is used as a vegetable oil. Population substituting normal vegetable oil with argan oil has lower cholesterol levels as plant sterols present in the oil including spinasterol and schottenol blocks the bad cholesterol absorption process which further leads to strengthening of body’s immunity.  Argan oil as an anti-inflammatory agent: Argan oil also provides anti-inflammatory features owing to presence of flavonoids. Oil massage helps in reducing external©Grand View Research, Inc., USA. All Rights Reserved Page | 27

Argan Oil Market Analysis and Segment Forecasts To 2022 3.6.2 Market restraint analysisTABLE 13 Argan oil – key market restraint analysis 2015-17 2018-20 2020-22 Impact Market restraintsLimited number of argan trees3.6.2.1 Limited number of argan treesArgan trees are grown mainly in Morocco. Oil extracted from these trees is used for food,shelter, agriculture, charcoal, wood and livestock feed by the rural economy of Morocco.Increasing importance of argan oil in cosmetic, food and medical industries is boosting overallsales of the product which in turn is generating significant profits in the region. Internationalskincare and haircare provider including L’Oreal is increasing its argan oil consumption in orderto develop enhanced product solutions for hair treatment and skincare. Increasing preferencesin cosmetic and food industries is increasing its popularity among vegetable oil and cosmeticmanufacturers globally. In addition, medical industry is serving as a major opportunity for theglobal market which is expected to drive overall industry demand in the coming years.According to Morocco government spokesman, the country’s argan oil production was around4,000 tons in 2013. In addition, government is expected to make efforts to increase itsproduction from 4000 tons to 10,000 tons by 2020. Also, according to an UK basedmanufacturer namely Arganic, one liter of argan oil is produced from around 30kg argan fruitand 15 hours labor work. Morocco government is driving cultivation of argan plants. Their targetover the forecast period is to produce around 200,000 hectares of argan trees and also developmodern argan farms for high quality argan oil.Below chart shows the global production and demand figures in 2013 and 2020:Argan Oil 2013 2020 (forecasted)Production (Morocco) xx xxDemand (Global) xx xx©Grand View Research, Inc., USA. All Rights Reserved Page | 28

Argan Oil Market Analysis and Segment Forecasts To 2022 Penetration rate (High) 3.7 Key opportunities - Prioritized FIG. 6 Key opportunities - Prioritized Growth rate (High) Penetration rate (Low) Growth rate Medical (Low)Cosmetics FoodHighest market penetration was experienced by cosmetics as argan oil is a perfect solution forskincare and haircare products. Argan oil, owing to its anti-oxidant features, is preferred for anti-aging, anti-wrinkle, UV radiation defense and hair treatment solutions. Cosmetic applicationxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx©Grand View Research, Inc., USA. All Rights Reserved Page | 29

Argan Oil Market Analysis and Segment Forecasts To 20223.8 Industry analysis - Porter’s analysis FIG. 7 Argan oil - Porter’s analysis Threat of new entrants 6 Argan oil is an organic ingredient which is experiencing increase in its preference on account of its healthy benefits. End use industries are expected to expand their product lines and use argan oil as an essential ingredient on account of its high performance features. This is expected to result into entrance of significant number of industry participants over the forecast period. Contrary to this, limited supply is expected to restrain the entry of new companies in the global market on account of lower supply levels coupled with pricey nature.Supplier power 9 Industry rivalry 8 Buyer power 4Argan oil is extracted from argan trees found The market is fragmented with limited There are limited but important applicationonly in Morocco. This extracted oil is further number of companies including Olvea, areas of argan oil, which include cosmetics,refined by manufacturers in order to provide Auracacia, Arganisme, Brenntag specialties, medical and food in the global market whilefinished product to end use industries Biopur, Argania, Zineglob and Nadifi Argan. within the region, argan oil is an essentialincluding cosmetics, food and medical. On This has resulted into high level of product for living. Buyer power generallyaccount of limited availability of pure argan competition. Pure argan oil is also an issue. ranges between low to medium on accountoil, supplier power is expected to be higher. ON account of pricey nature, few limited sources. Significant number of end useThis gives price controlling power to suppliers manufacturers are providing fake argan oil. industries are available in the global mark et.and as a result argan oil are expensive in Therefore, ability to provide pure argan oil Lack of sufficient supply is expected to disruptnature. In global market, argan oil are has also raised competition among industry to meet overall demand in the coming years.considered as most expensive vegetable oil. participants. Prices are extremely higher and Further, price is a m ajor issue as they areGovernment are taking initiatives to double controlled by manufacturers. Huge number of extremely high as compared to alternativesthe production over the forecast period. application companies are available. such as coconut oil, ceramides and olive oil. Threat of substitutes 7 There are number of natural alternatives available globally for skin-related problems, which include coconut oil, ceramides, neem oil, olive oil and hazelnut oil. These alternatives are cheaper and easily available as compared to argan oil. Inexpensive nature coupled with abundant supply has increased threat of substitutes for global argan oil market. Higher threat of substitutes is expected to restrain global industry growth. Extremely powerful nutrients and vitamins in argan oil is expected to continue its dominance over other alternatives in the long run©Grand View Research, Inc., USA. All Rights Reserved Page | 30

Argan Oil Market Analysis and Segment Forecasts To 20223.9 Argan oil PESTEL analysisFIG. 8 Argan oil PESTEL analysisPolitical Economic Argan Co-operative was formulated by group of women for producing  Rising consumer purchasing power in Europe, North America and Asia argan oil in Morocco. These groups converts argan nuts into paste Pacific is directly proportional to the consumption rate of argan oil which is then sent to factories for extraction and refining of oil. Argan based expensive cosmetic products and food items Co-operative is supported by the government. This attempt has provided work opportunities to Berber tribe women.  More than 90% of rural economy of Morocco depends on argan tree on account of its uses such as food, building material, agriculture, livestock food, charcoal, medical and skincareSocial Technological Growing demand of natural and organic cosmetic & beauty products in  Technological advancements has replaced manual extraction of oil Europe and North America, mainly in the U.S. from kernels is replaced by mechanical press which is a time saving process Rural population of Morocco depends on argan trees for food, shelter, agriculture, livestock feed, firewood and charcoal. Therefore, decrease  Scientists are working on development of intensive production in trees population is leading to higher poverty level in Africa techniques in order to enhance microbiological and chemical quality of argan oilLegal Environmental In Europe, Argan oil in cosmetics products is regulated by Regulation  On account of increasing population, argan tree is an threatened EC 1223/2009 which states that the safety of each cosmetic product in species in Morocco and is listed under UNESCO's World Heritage the European Union market is assessed and proven by a Safety endangered list Assessor, with all the requirements and academic titles provided for by the European Regulations, as well as a fundamental experience in this  Israel is making efforts to grow argan trees in order to distribute the oil field. among more than 600,000 Moroccans  Efforts by World Wildlife Fund to save argan forest in the regionSummaryArgan oil is extracted from argan trees found in Morocco. These trees are widely used in skincare, medical and food products. Argan oil is consideredas an endangered species therefore government should take initiatives to increase its production. Recently, regional government announced to almostdouble the production of argan oil over the forecast period. Their production has also established as work opportunities for local women. Anti agingpopulation of European countries including Germany, France, UK and Spain is expected to drive overall product demand in the region. Argan oil is alsofinding applications in medical industry as it can be used for cancer treatment, inflammation, arthritis, cholesterol, pregnancy stretch marks and skinailments.©Grand View Research, Inc., USA. All Rights Reserved Page | 31

Argan Oil Market Analysis and Segment Forecasts To 2022Chapter 4 Argan oil Application Outlook 4.1 Global argan oil market volume share by application, 2014 & 2022Application markets analyzed in the report include cosmetics, food and medical segment.Cosmetics segment accounted for a market volume share of xx% in 2014 and is expected toreach xx% by 2022. The revenue share is expected to slightly decrease over the forecast periodas account of limited opportunities available. xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxFIG. 9 Global argan oil market volume share by application, 2014 & 2022 2022 2014Cosmetics Food Medical Cosmetics Food MedicalMedical was the second largest segment with the market volume share of xx% in 2014. Thesegment share is expected to increase and reach to xx%. The segment is expected to widenand explore argan oil potential in medical industry. Some of the important medical benefits ofargan oil include improvement in digestion, weight loss, high energy levels, controlledcholesterol levels, anti-inflammatory agent and cancer treatment. Food accounted for a volumeshare of xx% in 2014 and is expected to decrease and reach to xx% by 2022. The segment isexpected to show significant growth owing to increasing preference for healthy and fat freevegetable oil.©Grand View Research, Inc., USA. All Rights Reserved Page | 32

Argan Oil Market Analysis and Segment Forecasts To 20224.2 Cosmetics4.2.1Global argan oil market estimates & forecasts in cosmetics, 2012 – 2022TABLE 14 Global argan oil market estimates in cosmetics, 2012 - 2014 (Tonnes )(USD Million) 2012 2013 2014Volume (Tonnes) xx xx xxRevenue (USD Million) 109.7 xx xxCosmetics segment market volume was 1565.6 tonnes in 2012 and 1786.4 tonnes in 2013.Cosmetics include skin care and haircare. Skin care further consists of anti aging products,moisturizers, skin enhancing creams and environmental defense products. Anti aging productsare recommended to be used in the age of 50s and 60s. Skin aging means development of skinwrinkles, spots and lines. Therefore, anti aging products helps in moisturizing skin and wrinklefree. Environmental defense products are skin care products which protects skin layer fromharmful UV radiations and microorganisms. When skin is exposed more to frequently to sun, itbecomes dull and dry owing to UV radiations and dust therefore environmental defense skincare products helps in enhancing skin. Haircare include shampoo, conditioner, oil, mask andother hair treatment products.TABLE 15 Global argan oil market estimates & forecasts in cosmetics, 2015 – 2022 (Tonnes)(USD Million) 2015 2016 2017 2018 2019 2020 2021 2022 CAGR (2015-22)Volume xx xx xx xx xx xx xx xx xx%(Tonnes) xx xx xx xx xx xx xx xx xx%Revenue(USD Million)Xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx©Grand View Research, Inc., USA. All Rights Reserved Page | 33

Argan Oil Market Analysis and Segment Forecasts To 2022TABLE 16 Global argan oil market volume estimates in cosmetics by region, 2012 – 2014 (Tonnes) Region 2012 2013 2014North America 356.0 xx xxEurope xx xx xxAsia Pacific xx xx xxMEA xx xx xxCSA xx xx xxTotal xx xx xxMEA utilized maximum amount of argan oils for cosmetic products. Their market volume was xxtonnes in 212 and xx tonnes in 2013. North America also covered significant volume share inthe recent years.TABLE 17 Global argan oil market volume estimates & forecasts in cosmetics by region, 2015 – 2022 (Tonnes) Region 2015 2016 2017 2018 2019 2020 2021 2022 CAGR xx xx xx xx xx xx xx (2015-NorthAmerica 22) xx xx%Europe xx xx xx xx xx xx xx xx xx%Asia xx xx xx xx xx xx xx xx xx%PacificMEA xx xx xx xx xx xx xx xx xx%CSA xx xx xx xx xx xx xx xx xx%Total xx xx xx xx xx xx xx xx xx%Xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx©Grand View Research, Inc., USA. All Rights Reserved Page | 34

Argan Oil Market Analysis and Segment Forecasts To 2022TABLE 18 Global argan oil market revenue estimates in cosmetics by region, 2012 – 2014 (USD Million) Region 2012 2013 2014North America xx xx xxEurope xx xx xxAsia Pacific xx xx xxMEA xx xx xxCSA xx xx xxTotal xx xx xxAsia Pacific generated revenue of USD xx million in 2012 and USD xx million in 2013. Europemarket was also valued at USD xx million in 2012 and USD xx million in 2013 on account ofaging population in Germany, France, UK, Belgium and Spain.TABLE 19 Global argan oil market revenue estimates forecasts in cosmetics by region, 2015 – 2022 (USD Million) Region 2015 2016 2017 2018 2019 2020 2021 2022 CAGR 60.2 xx xx xx xx xx xx (2015-NorthAmerica 22) xx xx%Europe xx xx xx xx xx xx xx xx xx%Asia xx xx xx xx xx xx xx xx xx%PacificMEA xx xx xx xx xx xx xx xx xx%CSA xx xx xx xx xx xx xx xx xx%Total xx xx xx xx xx xx xx xx xx%xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx©Grand View Research, Inc., USA. All Rights Reserved Page | 35

Argan Oil Market Analysis and Segment Forecasts To 2022Chapter 5 Argan oil Regional Outlook 5.1 Global argan oil market volume share by region, 2014 & 2022Regional markets analyzed in the report include North America, Europe, Asia Pacific, MiddleEast & Africa and Central & South America. Middle East & Africa was the largest regionalmarket and accounted for xx% of the total market volume in 2014. The market share isexpected to slightly decrease and reach to xx% by 2022. Asia Pacific and North America marketxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxFIG. 10 Global argan oil market volume share by region, 2014 & 2022 2022 2014North America Europe Asia Pacific North America Europe Asia PacificMEA CSA MEA CSANorth America accounted for xx% of the total market volume in 2014. By 2022, regional marketwill experience increase in market share, reaching to xx% by 2022. The market is expected toxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx©Grand View Research, Inc., USA. All Rights Reserved Page | 36

Argan Oil Market Analysis and Segment Forecasts To 20225.2 North America5.2.1North America argan oil market estimates and forecast, 2012 – 2022TABLE 20 North America argan oil market estimates, 2012-2014 (Tonnes)(USD Million) 2012 2013 2014Volume (Tonnes) 850.1 xx xxRevenue (USD Million) xx xx xxNorth America argan oil market volume was xx tonnes in 2012 while xx tonnes in 2013. Arganoil is widely used by regional population in cosmetics and food products. The product is alsofinding application for medical treatment purposes.TABLE 21 North America argan oil market estimates and forecasts, 2015-2022 (Tonnes)(USD Million) 2015 2016 2017 2018 2019 2020 2021 2022 CAGR (2015-22)Volume xx xx xx xx xx xx xx xx xx%(Tonnes)Revenue xx xx xx xx xx xx xx xx xx%(USD Million) xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxTABLE 22 North America argan oil market volume estimates by application, 2012-2014 (Tonnes) Application 2012 2013 2014Cosmetics 356.0 xx xxFood xx xx xxMedical xx xx xx Total xx xx xx.Cosmetics was the leading application segment as argan oils are utilized by the region for widerange of cosmetics products mainly skincare and hair treatment products. Medical segment also©Grand View Research, Inc., USA. All Rights Reserved Page | 37

Argan Oil Market Analysis and Segment Forecasts To 2022accounted for significant market share and is expected to gain popularity over the forecastperiod.TABLE 23 North America argan oil market volume estimates & forecasts by application, 2012-2014 (Tonnes)Application 2015 2016 2017 2018 2019 2020 2021 2022 CAGR (2015- 22)Cosmetics xx xx xx xx xx xx xx xx xx%Food xx xx xx xx xx xx xx xx xx%Medical xx xx xx xx xx xx xx xx xx%Total xx xx xx xx xx xx xx xx xx% xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxTABLE 24 North America argan oil market revenue estimates by application, 2012-2014 (USD Million) Application 2012 2013 2014Cosmetics 34.9 xx xxFood xx xx xxMedical xx xx xx Total xx xx xx.Cosmetics was the leading application segment as argan oils are utilized by the region for widerange of cosmetics production mainly skincare and hair treatment products. Wide range ofskincare and hair treatment product lines coupled with expensive nature generated highrevenues in the current year.©Grand View Research, Inc., USA. All Rights Reserved Page | 38

Argan Oil Market Analysis and Segment Forecasts To 2022TABLE 25 North America argan oil market revenue estimates, by application, 2012-2014 (USD Million)Application 2015 2016 2017 2018 2019 2020 2021 2022 CAGR (2015- 22)Cosmetics xx xx xx xx xx xx xx xx xx%Food xx xx xx xx xx xx xx xx xx%Medical xx xx xx xx xx xx xx xx xx%Total xx xx xx xx xx xx xx xx xx%xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx©Grand View Research, Inc., USA. All Rights Reserved Page | 39

Argan Oil Market Analysis and Segment Forecasts To 2022Chapter 6 Competitive Landscape6.1 OLVEA6.1.1 Company OverviewOLVEA, established in 1929, is a vegetable & fish oils supplier headquartered in Europe. Thecompany is also engaged into argan oil production. As of 2014, the company employed morethan 150 employees. OLVEA makes a turnover of more than 40,000 tons of oil annually. Thecompany’s product portfolio includes OLVEA vegetable oil and OLVEA fish oils. Key end useindustries served by the company include cosmetic, agribusiness, pharmaceutical, animal feedand lubricant market. The company also has standards for its products such as ISO 9001, IFISand HACCP. In 2013, OLVEA created two subsidiaries namely OLVEA Ghana for fish &vegetable oils and OLVEA Netherlands for outsourcing only vegetable oils.6.1.2 Financial Performance 2013 2014 N/A N/A6.1.3 Product Benchmarking Product ApplicationArgon oil (Virgin)Argon oil (Virgin and deodorized) Used for skin care, face care, body care, conditioner, dry hair, massage, hair products,Argon oil (Virgin and toasted) make up removers, shampoo, sun care, anti-age care, after sun care, nail care, hand care andArgon oil (Organic and virgin) teenage skin care applications. Used for food and seasoning applications. Used for skin care, face care, body care, conditioner, dry hair, massage, hair products, make up removers, shampoo, sun care, anti age care, after sun care, nail care, hand care and teenage skin care applications.©Grand View Research, Inc., USA. All Rights Reserved Page | 40

Argan Oil Market Analysis and Segment Forecasts To 2022 6.1.4 Strategic Initiatives  xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx©Grand View Research, Inc., USA. All Rights Reserved Page | 41

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