Shea Butter Market to Grow with a CAGR of 7.38% through 2028
Benefits associated with shea butter, growing
acceptance of the Shea Butter by the population are factors driving the global
Shea Butter market in the forecast period 2024-2028.
According to the TechSci Research report, “Global
Shea Butter Market– Global Industry Size, Share, Trends, Competition,
Opportunity, and Forecast, 2018-2028F”, The shea butter market, rooted in
centuries of tradition, is experiencing a transformative evolution driven by
changing consumer preferences, technological advancements, sustainability
initiatives, and cross-industry collaborations. As a versatile natural
ingredient with applications spanning cosmetics, food, pharmaceuticals, and
more, shea butter's significance is expanding globally.
Shea butter, a natural fat extracted from the nuts of
the African shea tree, has transcended its traditional roots to become a
prominent player in the global market. Shea butter has evolved into a versatile
and sought-after ingredient in industries ranging from cosmetics and personal
care to food and pharmaceuticals. This multifaceted product's journey from
traditional use to global recognition reflects its immense value, economic
significance, and potential for sustainable development. As consumer awareness
of natural ingredients and clean beauty practices grows, shea butter's
potential in the cosmetics and personal care industry has surged. Skincare
brands worldwide are incorporating shea butter into formulations for lotions,
creams, balms, lip care products, and even haircare items. The butter's ability
to provide deep hydration, promote skin elasticity, and reduce the appearance
of fine lines has led to its inclusion in anti-aging and moisturizing products.
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The trend towards clean beauty, characterized by
products formulated with natural and non-toxic ingredients, has amplified shea
butter's appeal. Consumers are seeking transparency in labeling and are
gravitating towards products that align with their values of health and
sustainability. Shea butter's minimal processing and absence of synthetic
additives make it a prime candidate for clean beauty formulations.
The future of the shea butter market is marked by
ongoing innovation and expanding applications. From beauty brands exploring
advanced formulations to food companies experimenting with gourmet products,
shea butter's versatility allows for continuous evolution. Technological
advancements, such as efficient extraction methods and traceability tools, are
improving production processes and enhancing product quality.
The demand for shea butter has been increasing
globally due to a combination of factors that highlight changing consumer
preferences, growing awareness of its benefits, and its versatile applications
across various industries. Consumers are increasingly seeking natural and
organic products that are free from harmful chemicals and synthetic additives.
Shea butter's natural origin and minimal processing make it an attractive
ingredient for those who prioritize clean and green beauty and personal care
products. As the demand for natural alternatives rises, the demand for shea
butter as a key ingredient follows suit.
Thus, the increasing demand for shea butter on a
global scale can be attributed to factors such as the natural and organic
movement, clean beauty trends, nutritional benefits, cultural significance,
sustainability consciousness, and cross-industry collaborations. As consumers
prioritize authenticity, health, and ethical choices, shea butter's appeal as a
versatile and beneficial ingredient continues to grow, driving its demand
across industries.
The global shea butter market is segmented based on
product, application, sales channel, and region.
Based on product, the raw and unrefined shea butter
category led the market and is predicted to continue to do so throughout the
forecast period. Due to advantages including increasing skin moisture, mending
scrapes and cuts, and aiding in acne control, consumers are growing
increasingly interested in less processed oils.
In regional segment, Europe held the largest market
share. Considering there are so many cosmetics and pharmaceutical businesses in
Europe, shea butter is widely utilized in the production of goods like body
lotions, moisturizers, and chocolates.
Key market players operating in the global Shea Butter
market include:
- BASF SE
- Olvea Group
- Sophim S.A.
- Cargill, Inc.
- Suru Chemicals
- Ghana Nuts Company Ltd.
- Croda International Plc
- Agrobotanicals, LLC
- Clariant AG
- AAK AB
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“The global shea butter market has experienced
remarkable growth in recent times, fueled by increased demand for cocoa butter
alternatives and rising consumption of cocoa and bakery goods are anticipated
to propel market expansion. Shea butter is viewed as a healthier option to
cocoa butter. In the coming years, market revenue is expected to increase as
people become more aware of shea butter's therapeutic benefits for skin,
including its anti-aging effects, additional moisturizing characteristics, and healing
effects which is further driving the market of shea butter market globally.”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
“Shea Butter Market– Global Industry Size, Share,
Trends, Opportunity, and Forecast, 2018-2028, SegmentedBy Product
(Raw/Unrefined, Refined), By Application (Cosmetics & Personal Care, Food
& Beverage, Pharmaceutical), By Sales Channel (Specialty Stores, Online,
Convenience Stores, Supermarkets/Hypermarkets, Others), By Region, By
Competition Forecast & Opportunities, 2018-2028F, has evaluated
the future growth potential of the global shea butter market globally and
provides statistics and information on market structure, size, share, and
future growth. The report provides cutting-edge market intelligence and helps
decision-makers to make sound investment decisions. Besides, the report also
identifies the emerging trends along with essential drivers, challenges, and
opportunities present in the market of shea butter globally.
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