The Global Shea Butter Market: Overview
The Global Shea Butter Market is valued at around USD 77.80 million in 2022 and is expected to reach USD 203.92 million by 2030, registering a CAGR of 12.80% over the forecast period. An edible vegetable oil or fat called shea butter is made from the sun-dried kernels of the shea tree in Africa. Shea butter is frequently used in the confectionery and chocolate industries as well as in cosmetics and wellness goods (as an ingredient in cocoa butter alternatives). In other food applications, shea butter and its fractions can be used in place of other edible vegetable oils or fats. Because shea butter contains unsaponifiable, it is used in products for the body, hands, and face. Ester resins included in shea butter are suggested for cleaning, repairing, and protecting against the sun-damaged skin.
The Global Shea Butter Market - Growth Factor
The market is expanding as a result of rising demand for coco butter substitutes as well as rising consumption of chocolate and bakery goods. Over the course of the projected period, 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, according to a Dairy Reporter story from October 2021. Additionally, the aforementioned product is frequently utilised in a variety of food applications as a replacement for edible vegetable fats and oils, which is predicted to expand the market's potential.
The Global Shea Butter Market Market Trends
The demand is expected to increase as shea butter becomes increasingly used as a replacement for edible vegetable oils and fat in a variety of food applications. This is thus anticipated to fuel market expansion over the course of the forecast period.
Due to the high pricing of cocoa due to the restricted supply, it is widely used as a substitute for cocoa butter by bakeries and confectionery manufacturers. In the upcoming years, it is anticipated that this aspect will continue to fuel market expansion.
In addition, the personal care and cosmetics industry's strong product demand is predicted to support market expansion.
Shea butter contains unsaponifiable such sterols and phenols, as well as important fatty acids with moisturising and conditioning qualities like stearic and oleic acids.
These assets are anticipated to fuel market expansion. However, the accessibility of less expensive alternatives like mango butter, shea oil, avocado butter, and cupcake butter may constrain the growth of the market as a whole.
The Global Shea Butter Market Segmentation
The Global Shea Butter Market fragrance concentrates market has been sub-classified into grade, nature, end-use.
On the basis of grade, the Global shea butter Market is bifurcated into:
Grade A (Unrefined)
Grade B (refined)
Grade C (highly refined)
others
On the basis of nature, the market is segmented into:
organic
conventional
others
On the basis of end-user, the market segmented into:
cosmetics and personal care- lotions and creams, lip balm and sticks, sun care products, soaps and toiletries, cleaners, shampoos and conditioners.
food processing- bakery, chocolate and confectioneries, ice-cream.
pharmaceuticals
retail
Others
The Global Shea Butter Market Regional Analysis
Asia-Pacific dominated the global Shea Butter Market, the need for fat sources like shea butter is being fuelled by the rising popularity of chocolate. With the ever-expanding chocolate market, shea butter demand is expected to soar because it is used to offer and improve the texture, consistency, and other qualities of chocolate.
The Global Shea Butter Market Key Market players
Global key players of Global shea butter Market include Shea Butter H.Q. (Australia), Aloe Plus Lanzarote S.L (Spain), Lily of the Desert (U.S.), NOW foods. (U.S.), Forever Living.com, L.L.C. (U.S.), Real Aloe Solutions Inc. (U.S.), Patanjali Ayurved (India), Herbalife International of America, Inc. (U.S.), Sarvliving (India), Green Leaf Naturals (U.S.), Warren Laboratories LLC (U.S.), Lakewood Inc (U.S.), The Bountiful Company (U.S., L.R. Health & Beauty (Germany)
Report scope
Global Shea Butter Market: Historical Years- 2018-2021
Global Shea Butter Market: Forecast Years- 2022-2030
Global Shea Butter Market 2022- USD 77.80 million
Global Shea Butter Market 2030- USD 203.92 million
Global Shea Butter Market CAGR- 12.80%
