Shea Butter Market See Huge Growth for New Normal

shea butter market was valued at USD 77.80 million in 2021 and is expected to reach the value of USD 203.92 million by 2029, at a CAGR of 12.80% during the forecast period.

Market Definition

Shea butter is a type of vegetable fat extracted from the nut of an African tree that is widely used in the cosmetics industry for skin and hair related products such as lip gloss, skin lotions, and hair conditioners.
Shea Butter Market Trends

The increased customer demand for goods that offer a variety of benefits and sustenance, the cosmetics sector has started to diversify its usage of shea butter. Additionally, it's a component of lotions, baby oil, skin care, hair care, colour cosmetics, and other goods. Shea butter has many applications, which will likely spur market expansion during the next seven years. For instance, Beurre Shea Butter Skincare debuted a line of products in June 2022 that use shea butter as their primary component and are designed to soothe and protect skin.

Changes in lifestyle and increase in purchasing power of consumers has been one of the major factors that has contributed toward the growing popularity of vegan butter including shea butter in developing economies. In Asia-Pacific countries, surge in per capita income has led to changing food habits of customers. Furthermore, the rise in aspiration and penchant for luxury lifestyle has led to manifold increase in market size and overall demand. Moreover, in Latin America and the Middle East per capita income has increased considerably over a decade, which is expected to rapidly boost the demand for shea butter in upcoming years.

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Global Shea Butter Market: Major Players
Ghana Nuts LtdÂ
IOI Loders CroklaanÂ
The Savannah Fruits CompanyÂ
Akoma CooperativeÂ
StarSheaÂ

Global Shea Butter Market: By Types
Raw and Unrefined Shea ButterÂ
Refined Shea ButterÂ

Global Shea Butter Market: By Applications
Cosmetics
Medicine
Food Industry

Global Shea Butter Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Shea Butter market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

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