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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Shea Butter Market Share by Application
The cosmetics and personal care sector occupies a significant portion of the shea butter market share, due to the growing incorporation of the product in lotions, creams, soaps, and cosmetic items as a moisturising agent. It can also be used as an anti-inflammatory agent in skincare products to provide relief from inflammation and irritation.
Meanwhile, the food sector is expected to witness robust growth in the upcoming years, owing to the rising usage of shea butter in chocolates and other confectionary products to enhance their texture.
Shea Butter Market Share by Region
As per the shea butter market analysis, Europe accounts for a substantial share of the global market, owing to the widespread usage of shea butter in end-use sectors such as food and beverages and cosmetics. With the advent of the clean beauty trend in the region, several regional market players are offering naturally sourced shea butter free of toxic substances.
Subsequently, the Asia Pacific is expected to gain sizeable growth in the forecast period, due to the growing penetration of high-quality skincare products.
Shea Butter Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 2.04 billion.
The market is projected to grow at a CAGR of 8.60% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of around USD 4.3 billion by 2032.
The major market drivers are the growth of the cosmetic sector, the rise in disposable income, and the increased implementation of shea butter as an alternative to edible oil.
The key trends of the market include growing demand for organic and natural skincare products, the burgeoning popularity of shea butter in bakery products, and growing applications of shea butter in hair care products.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Different types of shea butter are raw and refined and refined.
The key players in the market are Fuji Oil Holdings Inc., 3F Industries Limited, BASF SE, OLVEA Vegetable Oils SAS, Cargill, Incorporated, Croda International Plc, Ghana Nuts Company Ltd., Sophim Iberia S.L., AAK AB, and Bunge Limited, among others.
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