Shea Butter Market:
The GMI Research expects the Shea Butter Market to expand at a significant rate. From a regional perspective, the GCC and African countries are projected to increase at a higher CAGR due to the growing population of shea butter in these areas driven by several raw material supplies and low-cost availability of labor.
Shea Butter Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The increasing consumption of baker products and chocolate worldwide is a significant driver surging the growth of the global shea butter market size. With the drastic change in the consumers’ taste & preference, they are now actively searching for substitutes of edible vegetable oils, fats, and cocoa butter. The bakery and confectionery players are largely utilizing shea butter as a substitute for cocoa butter driven by the increased costs of cocoa, thus driving the growth of the market during the forecast period. According to shea butter market analysis, the high demand for personal care & cosmetics products worldwide will further contribute to the growth of the global shea butter market. It consists of a high amount of oleic acid, vitamin A and E, and linoleic acid, which helps protect and nourish the skin from the inside. The cosmetics players majorly emphasize on research and development activities to develop innovative shea butter-based products according to the rising consumer’s requirement. On the other edge of the spectrum, the factors hindering the growth of the market in the upcoming years include the availability of low-cost alternatives that include shea oil, mango butter, and avocado butter.
Application Segment Drivers
Based on the Application, the global Shea Butter market is segmented into Personal Care & Cosmetics, Food & Beverage, Pharmaceuticals, and Others. The personal care & cosmetics segment is projected to dominate the market in the upcoming years. This is mainly attributed to the constantly changing customers’ preferences. Several multinational organizations are widely investing in research and development activities to boost efficient shea butter products. This rapid product expansion will fuel the demand. On the other hand, the Food & Beverage segment is anticipated to grow at a higher CAGR during the forecast period owing to the strong demand for bakery and confectionery products in the market. Shea butter is rapidly used as a substitute for cocoa butter to decrease production cost.
Shea Butter Market’s leading Manufacturers:
- Cargill, Incorporated
- BASF SE
- Sophim S.A.
- Olvea
- Ghana Nuts Company Limited
- Croda International Plc
- Clariant
- com
- Bunge Limited
- ADM
Shea Butter Market Segmentation:
Segmentation by Product:
- Raw and Unrefined
- Refined
Segmentation by Application:
- Personal Care & Cosmetics
- Food & Beverage
- Pharmaceuticals
- Others
Segmentation by Distribution Channel:
- Hypermarkets/Supermarkets
- Specialty Stores
- Online
- Convenience Stores
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that provides syndicated research reports, consulting services, and customized market research reports. Our reports are based on market intelligence studies to ensure relevant and fact-based research across numerous sectors, including healthcare, automotive, information technology & communication, FMCG, and other industries. GMI Research’s deep understanding related to the business environment helps us in generating objective strategic insights. Our research teams consisting of seasoned analysts and researchers have hands-on experience in various regions, including Asia-pacific, Europe, North America, and the Rest of the World. The market research report offers in-depth analysis, which contains refined forecasts, a bird’s eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.
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