According to Custom Market Insights (CMI), the Global Shea Butter Market analysis was estimated at USD 2.5 billion in 2021 and is anticipated to reach around USD 5.2 billion by 2030, growing at a CAGR of roughly 8% between 2022 and 2030. Our research report offers a 360-degree view of the Shea Butter market’s drivers and restraints, coupled with the impact they have on demand during the projection period. Also, the report examines global opportunities and competitive analysis for the Shea Butter market.
Shea Butter Market: Overview
Shea butter is a fatty triglyceride obtained from the nuts of Vitellaria paradoxa trees, principally from oleic and stearic acids. It is extracted using the fractionation method, and once it has been refined, it can be used in place of cocoa butter. Shea butter, which is derived from shea nuts, is rich in potassium, protein, and magnesium.
Browse the full “Shea Butter Market Size, Trends and Insights By Grade (Pharmaceutical, Industrial), By Application (Pharmaceuticals, Food and Preservatives, Cosmetics, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032″ report at https://www.custommarketinsights.com/report/shea-butter-market/
Growth Factors
Shea butter is utilized in a wide range of industries, such as cosmetics, food, beverages, pharmaceuticals, and more. Shea butter offers many advantages. Shea butter has also been shown to be helpful in a number of ailments in numerous research. Shea butter’s advantages are being investigated in numerous other fields besides its current uses. This is anticipated to expand the uses for shea butter and pave the way for the introduction of various new products aimed at emerging indications.
As the prevalence of diseases linked to a sedentary lifestyle increases, consumers worldwide are becoming more health-conscious. Because of this tendency, people believe that items made with natural components, like shea butter, are safer and healthier than their processed or chemically made counterparts. The high level of customer acceptance is another significant reason fueling the expansion of the shea butter market. Its advantages and uses have been known to consumers all over the world for several thousand years. The cost of educating consumers about its advantages and uses is thereby reduced for producers.
Modern extraction methods have made it possible to use shea butter in its purest form. Additionally, they have been able to increase the shelf life of their products to match customer expectations thanks to the use of superior preservatives. In recent years, this has increased demand. Additionally, shea butter market participants refrain from employing artificial chemicals to boost customer attractiveness.
Segmental Overview
The market for Shea Butter is segmented into product and application. By application, in 2021, the cosmetics & personal care sector held the greatest market share. The segment’s growth is anticipated to be aided by rising consumer interest in cosmetic shea butter as a substitute for other ingredients in creams, soaps, lotions, cosmetics, and toiletries.
During 2022-2030 the food segment is anticipated to increase at the fastest CAGR. Shea butter consumption in the aforementioned market is growing as a result of the increased premiumization of foods and beverages. In addition, because the product is used to improve the consistency, texture, and other qualities of chocolate, it is anticipated to experience a commensurate rise in demand due to the market’s burgeoning need for chocolate.
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Regional Overview
In 2021, Europe held the greatest market share worldwide. Because there are so many cosmetics and pharmaceutical businesses in Europe, shea butter is widely used to produce goods like body lotions, moisturizers, and chocolates. In March 2022, the Centre for the Promotion of Imports (CBI) reported that over 25% of the world’s total ingredient in various goods was consumed in Europe. Furthermore, it is projected that this boom will continue because the region has a plentiful supply of raw materials from Sub-Saharan African nations.
Competitive Landscape
To gain customers, leading shea butter manufacturers on the market are concentrating on offering a wide variety of goods. Additionally, they are using strategies like mergers and acquisitions to increase their customer base.
Our market analysis includes a section specifically devoted to key players operating in the Shea Butter Market. Our analysts give an overview of each player’s financial statements, along with product benchmarking and SWOT analysis. The competitive landscape section includes key development strategies, market share analysis, and market positioning analysis of the mentioned competitors globally.
Some of the prominent players
- BASF SE
- Croda International
- Bunge Limited
- Cargill, Inc.
- Archer Daniels Midland Company
- International Oils & Fats Limited
- Wilmer International
- Ghana Nuts Company Limited
- Fuji Oil Holdings, Inc.
- 3F Industries Ltd.
- Others
Table of Contents: https://www.custommarketinsights.com/report/shea-butter-market/#table-of-contents
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