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.
Shea butter is a natural vegetable fat, light yellowish or ivory in colour, derived from the African tree nut Vitellaria paradox. It contains a blend of saturated and unsaturated fatty acids, along with vitamins E, A, F, and carotene. Both Vitamin E and Vitamin A are recognized for their collagen-enhancing properties, which help to soothe and moisturize the skin. Shea butter serves as an excellent base for hydrating products for both hair and skin. It is commonly utilized as a moisturizer, salve, or lotion in cosmetics, offering well-known protective qualities against environmental skin damage such as dryness and rash.
The market for cosmetic shea butter is anticipated to grow over the forecast period due to increased usage of cosmetics among both young and elderly populations.
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Market Growth Factor:
Shea butter is widely used across various industries, including cosmetics, food, beverages, pharmaceuticals, and more. It offers numerous advantages and has been demonstrated to be beneficial in addressing various ailments in numerous research studies. Beyond its current applications, the advantages of shea butter are being explored in many other fields. This is expected to broaden the applications for shea butter and facilitate the development of new products targeting emerging indications.
The increasing number of ailments linked to a sedentary lifestyle has led to a shift in consumer priorities towards health consciousness among worldwide consumers. People now view natural products—like shea butter—as safer and healthier option than their processed or chemically manufactured competitors as a result of this trend. The market for shea butter is expanding due in large part to the general acceptance of the product among consumers. Customers all around the world have known about its advantages and applications for several millennia.
Opportunities:
Advancements in extraction techniques have enabled the utilization of shea butter in its purest form, meeting the demands of discerning consumers. Moreover, the implementation of enhanced preservatives has extended the shelf life of these products, further bolstering their appeal. This has led to a surge in demand in recent years. Furthermore, to cater to a broader audience, personal care companies involved in the shea butter industry have opted to eschew synthetic chemicals, aligning with the preferences of modern consumers.
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Leading Companies Involved in this market are:
- 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.)
- Pat Anjali Ayurveda (India)
- Herbalife International of America, Inc. (U.S.)
- Surviving (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)
Market Geographically Analysis:
The Asia-Pacific region has emerged as a dominant force in the global Shea Butter Market. The growing popularity of chocolate is driving the demand for fat sources like shea butter. As the chocolate market continues to expand, the need for shea butter is projected to skyrocket, as it plays a crucial role in enhancing the texture, consistency, and overall quality of chocolate products.
Market Segments:
On the basis of grade:
- Grade A (Unrefined)
- Grade B (refined)
- Grade C (highly refined)
- others
On the basis of nature:
- organic
- conventional
- others
On the basis of end-user:
- 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
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