Shea Butter Market market is expected to grow at a CAGR of 16.1% during the forecasted period | Evolve Business Intelligence

As per the study initiated by Evolve Business Intelligence, the global Shea Butter Market size accounted for USD 900.1 Million in 2023, growing at a CAGR of 16.1% from 2023 to 2033. Shea butter is a fat extracted from the nuts of the shea tree (Vitellaria paradoxa), which is native to West Africa. It is known for its rich texture, moisturizing properties, and various skin benefits. Shea butter has been used traditionally for centuries in Africa for skincare, haircare, and cooking.

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Shea butter is a common ingredient in many cosmetic and personal care products such as lotions, creams, soaps, shampoos, and conditioners. Its moisturizing and nourishing properties make it popular in skincare and haircare formulations. As consumers become more conscious of the ingredients in their skincare and beauty products, there is a growing demand for natural and organic alternatives. Shea butter, being a natural product, fits well into this trend. Shea butter contains vitamins A and E, essential fatty acids, and other beneficial compounds that contribute to its healing and anti-inflammatory properties. These health benefits drive its use in skincare products targeting conditions like eczema, dermatitis, and dry skin.

Key Players
Some of the major Shea Butter Market players holding high market shares include Shebu Industries, 3F Industries Ltd, Bunge Ltd., AAK AB, and StarShea. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders. Some of the other major market players include Akoma Cooperative, FUJI OIL HOLDINGS INC, Ghana Nuts Ltd, Stern-Wywiol Gruppe GmbH & Co. KG, ADM

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Segmental Analysis
Based on type, the Shea Butter market is segmented into Raw and unrefined and Refined and ultra-refined. The refined & ultra-refined shea butter segment is the largest segment of the shea butter market. This is due to the growing demand for high-quality shea butter in the cosmetics industry. Refined & ultra-refined shea butter is more consistent in color, texture, and odor than raw & unrefined shea butter, making it more suitable for use in cosmetics. Additionally, refined & ultra-refined shea butter is more readily available and easier to transport than raw & unrefined shea butter.

Based on the Application, the Shea Butter market is a Food and Cosmetics. The food segment is the largest segment of the shea butter market. This is due to the growing demand for shea butter as a food ingredient. Shea butter is a rich source of vitamins A, E, and F, and it has anti-inflammatory and antioxidant properties. These properties make shea butter a valuable ingredient in a variety of food products, including chocolate, confectionery, and spreads.

Key Region/ Countries Covered
• North America (US, Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Spain, Russia, Nordic Countries, BeNeLux, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Rest of Asia Pacific)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, South Africa, Rest of MEA)
• Latin America (Mexico, Brazil, Argentina, Rest of Latin America)

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