The global Shea Butter Market size is projected to accrue voluminously by 2027 registering a phenomenal CAGR of 7.5% during the review period (2022 to 2027)
Shea butter is primarily used in food, pharmaceutical and cosmetic industries as it provides several benefits to hair and skin that helps in hydrating of skin and nourishment of hair. Furthermore, shea butter assists in reducing wrinkles and fine lines and is effective in treating rough skin.As far as the application is concerned, the food segment with 84% market share is the leader in global product market. Shea butter can be used as a trans-fat free edible oil, a food additive, an antioxidant and as a functional food ingredient. It possesses vitamins F, E and A which help in healthy skin cell growth and circulation.However, easy availability of cheaper subs like shea oil, mango butter, cupuacu butter and avocado butter is anticipated to hamper the market growth of shea butter.Shea butter has no artificial chemicals and consists of stearic acid and oleic acid. It is broadly used in cosmetics as skin moisturizers, hair conditioners, and lip gloss.As the adoption of shea butter products for cocoa butter or palm oils increases, the market share for shea butter increases. Compared to cocoa and palm oil, shea butter has the advantage of lower fat content and better healing power than before. In addition, shea butter products are potent antioxidants and restore healthy skin and damaged hair.The high cost of shea butter products is a crucial factor in slowing the growth of the global shea butter market. Furthermore, the availability of a number of alternative products that are cost-effective and readily available to customers to replace shea butter on the market is another critical factor that is suspected of slowing the growth of the global shea butter market during the prognosis period.
Unilver acquired Sundial. Sundial Brands is one of the largest personal care product companies with brands that use shea butter as the main ingredient in the manufacture of their products.
Essence Ventures LLC confirmed its acquisition of Essence Communications Inc for an undisclosed amount. The deal reestablished Essence Communications Inc. as a totally black independent company, which it had held for 30 years until it was acquired by Time Inc.
In August 2018, Palladium invested in Naasakale, a women-owned shea butter manufacturing company, to improve shea production activities in each sector.
Top Key players in the Shea Butter Market have been identified through secondary research, and their market shares have been determined through primary and secondary research. The global Shea Butter Market is fragmented with a large number of small players operating worldwide. The companies referred in the market research report includes IOI Loders Croklaan, Wilmar Africa/ Ghana Specialty Fats, Ghana Nuts, Shebu Industries, Timiniya Tuma, The Pure, The Savannah Fruits, VINK CHEMICALS GMBH & CO. KG, Akoma Cooperative, StarShea, International Oils & Fats and others.
Shea Butter Market is segmented based on the type, applications, companies and regions.
By Type, Shea Butter Market has been segmented into
By Application on Shea Butter Market is,
The report offers in-depth assessment of the growth and other aspects of the Shea Butter Market in important regions, including the U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, Taiwan, Southeast Asia, Mexico, and Brazil, etc. Key regions covered in the report are North America, Europe, Asia-Pacific and Latin America.
Increase in health conscious population and developed lifestyle are the main factors driving the progress of the shea butter market. Rise in purchasing power in this region majorly boosts the trade of shea butter products. consumers are progressively opting for natural and organic cosmetic and food products. From a progress perspective, shea butter is a fresh product introduced in the market; therefore, the number of producers operating in the market is considerably low.
Asia Pacific led by Japan, India and China is expected to witness more than 10.2% CAGR up to 2026. The changing consumer preferences and increasing awareness over the availability of better skin care and healthcare products in market followed by high growth in economies including India, China, and South Korea are driving the product application space in this region.
Europe dominates the market because of the rising consumer inclination towards baked products and confectionery and presence of end user industries in the region. Europe accounted for more than 24% share in the overall market. Rising concept of premium and high-quality food products with promised health benefits is likely to support segment growth.
Report Attributes | Report Details |
Report Title | Shea Butter Market - Growth, Trends And Forecast (2021 - 2026) By Types, By Application, By Regions and By Key Players: IOI Loders Croklaan, Wilmar Africa/ Ghana Specialty Fats, Ghana Nuts, Shebu Industries |
Forecast Period 2022 to 2027 CAGR | CAGR of 7.5% during the review period (2022 to 2027). |
By Type |
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By Application |
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By Companies | IOI Loders Croklaan, Wilmar Africa/ Ghana Specialty Fats, Ghana Nuts, Shebu Industries, Timiniya Tuma, The Pure, The Savannah Fruits, VINK CHEMICALS GMBH & CO. KG, Akoma Cooperative, StarShea, International Oils & Fats and others. |
Regions Covered |
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Countries Covered |
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Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2022 to 2027 |
Number of Pages | 119 |
Customization Available | Yes, the report can be customized as per your needs |
What is the study period of this market?
The Shea butter Market is studied from 2017 - 2027.
What is the growth rate of Shea butter Market?
The Shea butter Market is growing at a CAGR of 7.5% over the next 5 years.
What regions does this Shea butter Market report covers?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
All our reports are customizable to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
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