The global shea butter market size was valued at USD 2.07 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.8% from 2022 to 2030.
In recent years, the cosmetics industry has begun diversifying the use of shea butter due to the growing consumers’ desire to purchase products that provide multiple benefits and nourishment. In addition, it is used in skin products, hair products, color cosmetics, baby oil, lotions, and other products. Shea butter has a wide range of uses, which is expected to boost the growth of the market in the next seven years. For instance, in June 2022, Beurre Shea Butter Skincare launched a line of products that are meant to protect and soothe skin with the usage of shea butter as the key ingredient.The Shea Butter market report is a perfect foundation for people looking out for a comprehensive study and analysis of the Shea Butter . On the basis of historic growth analysis and current scenario of Shea Butter market place, the report intends to offer actionable insights and outlook on global / regional market growth projections. Authenticated data presented in report is based on findings of extensive primary and secondary research. Insights drawn from data serve as excellent tool that facilitate deeper understanding of multiple aspects of global Shea Butter . These further helps users with their developmental strategy.
The shea fruit is a non-timber forest product that is native to the ecosystems of the semi-arid regions of Western Africa. Shea butter (Butyrospermum parkii) is the fat derived from the nuts/kernels of the shea fruit, also known as Vitellaria paradoxa. Shea butter finds use as an alternative to in various applications such as food processing, cosmetics, pharmaceuticals, and retail.
The growing demand for confectionary and baked goods, as well as the need for cocoa butter substitutes, is likely to increase the demand for the market in the years to come. Shea butter is utilized as a raw ingredient, in baked goods such as puff pastry, biscuits, and chocolates, among others. For instance, in December 2020, Bunge Loders Croklaan launched shea-based butter to advance its level of chocolate confectionary which meets consumer needs for sustainable food options. These factors are projected to fuel the segment’s market expansion throughout the forecast period.
Increased awareness of shea butter’s therapeutic advantages for skin, such as anti-aging capabilities, extra moisturizing properties, and healing impact, is predicted to boost market revenue in the approaching years. Furthermore, the growing preference of individuals, particularly women and young people, for natural ingredient-based cosmetic products is expected to support the expansion of the market in the future. According to an article published by National Programs, in March 2022, approximately 85% of consumers across the world prefer skin care products with natural ingredients such as shea butter.
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Global Shea Butter Market: Major Players
Ghana Nuts Ltd
IOI Loders Croklaan
The Savannah Fruits Company
Global Shea Butter Market: By Types
Raw and Unrefined Shea Butter
Refined Shea Butter
Global Shea Butter Market: By Applications
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