Shea Butter Market Analysis 2023: Growth, Size, Share, Trends And Future Forecast To 2032 | BASF SE, Bunge Limited, Wilmar Africa Limited, Clariant AG, AAK AB

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Shea Butter Global Market Report 2023 identifies increasing use of cosmetics as the major driver for the Shea Butter market's growth in the forecast period. Cosmetics refer to a diverse range of products applied to the body, face, hair, or nails to enhance or alter appearance. Shea butter is commonly used in cosmetics for its moisturizing, nourishing, and anti-inflammatory properties, promoting healthier, more hydrated skin and hair.

The global shea butter market is expected to grow from $1.87 billion in 2022 to $2.01 billion in 2023 at a compound annual growth rate (CAGR) of 7.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The shea butter market is expected to reach $2.61 billion in 2027 at a CAGR of 6.7%.

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Major competitors in the Shea Butter market are BASF SE, Bunge Limited, Wilmar Africa Limited, Clariant AG, AAK AB.

A key trend in the Shea Butter market includes Integrating advanced technology and product innovations. Major companies operating in the shea butter market are focused on integrating advanced technology to sustain their position in the market. For instance, in August 2020, Nufabrx, a US-based biotechnology company, launched Soliscia, a first-of-its-kind shea butter-infused face mask designed for safety and smooth skin. The company used patented technology to inject shea butter into each fiber, guaranteeing that users experience continuous, even wetness throughout each use. The well-known, powerful moisturizer is delivered to the skin directly through the mask, which is also made to be comfortable and breathable. Soliscia is a copper-powered, reusable, and machine-washable mask that offers superior filtration properties and relief.

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The Shea Butter market is segmented -

1. By Product: Raw And Unrefined Shea Butter, Refined Shea Butter
2. By Nature: Organic, Conventional
3. By Application: Food Processing, Cosmetics And Personal Care, Pharmaceuticals, Other Applications
4. By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Shea Butter market.

The Business Research Company's "Global Shea Butter Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Shea Butter Market Include:

1. Executive Summary
2. Shea Butter Market Characteristics
3. Shea Butter Market Trends And Strategies
4. Shea Butter Market - Macro Economic Scenario
……
32. Global Shea Butter Market Competitive Benchmarking
33. Global Shea Butter Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Shea Butter Market
35. Shea Butter Market Future Outlook and Potential Analysis
36. Appendix

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