Shea Butter Global Market Anticipated to Attain $2.79 Billion By 2028, at 6.6% CAGR | Latest Trends and Growth Opportunities

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Shea Butter Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The shea butter market size has grown strongly in recent years. It will grow from $2.01 billion in 2023 to $2.16 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to traditional use in cosmetics and skincare, demand for natural and organic ingredients, growth in the beauty and personal care industry, increase in awareness of shea butter benefits, adoption in traditional medicine.

The shea butter market size is expected to see strong growth in the next few years. It will grow to $2.79 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to expansion of the food industry, rising demand for plant-based ingredients, incorporation in nutraceutical and functional foods, increased use in hair care products, growth in e-commerce and online sales, growing popularity of diy beauty and skincare with shea
. Major trends in the forecast period include development of shea butter derivatives and innovations, introduction of shea butter-infused textile and apparel, technological improvements in shea processing, utilization of shea butter in sustainable packaging, collaboration for research and development in shea industry.

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Market Segmentation:
The shea butter market covered in this report 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

Major Driver - The Surge In Cosmetics Usage Fuels Expansion Of The Shea Butter Market
The increasing use of cosmetics is expected to propel the growth of the shea butter market. 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. For instance, in 2021, according to the annual organic beauty and wellbeing report by the Soil Association, a UK-based charity organization, the sales of Soil Association-certified organic and natural beauty and wellbeing products in the UK grew by 15%, reaching approximately $170 million in 2021. Furthermore, in January 2021, according to Automat.ai, a Canada-based business service, software, and computer software company, in the US, sales of skincare products increased by 13% in 2021, while sales of makeup items increased by 1%. Further, the growth of online beauty merchants was 24%, with skincare taking the lead. Therefore, the increasing use of cosmetics is driving the growth of the shea butter market.

Competitive Landscape:
Major companies operating in the shea butter market report are BASF SE, Bunge Limited, Wilmar Africa Limited, Clariant AG, AAK AB, Fuji Oil Holdings Inc., Croda International plc, L'Occitane en Provence, NOW Foods, Lily of the Desert, 3F Industries Limited, Anderson International Corp., OLVEA Group, Bulk Apothecary, International Oils & Fats Limited, Akoma International Ltd., Manorama Industries Limited, Sophim S.A., The Savannah Fruits Company, Green Leaf Naturals, Makers Ingredients Limited, Ghana Nuts Company Limited, Terry Laboratories LLC, Shea Radiance, Better Butter Company, Zoic Cosmetics, Shebu Industries, Jiangxi Hualong Plant Spice Co. Ltd., Suru Chemicals & Pharmaceuticals Pvt. Ltd., Purenso Select

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Top Trend - Innovative Ventures In The Shea Butter Market
Major companies operating in the shea butter market are developing innovative products, such as shea butter-infused skincare products, to meet larger customer bases, increase sales, and increase revenue. A shea butter-infused skincare product is a cosmetic or personal care item that contains shea butter as a key ingredient. For instance, in September 2022, Salve Pharmaceuticals Pvt. Ltd., an India-based dermatology company, launched Ultra, a range of skin care products. The distinguishing feature of the Ultra skincare range is its formulation for daily use, which provides 72-hour hydration. Crafted with almond oil, vitamin E, shea butter, and hibiscus extracts, it ensures long-term nourishment for skin cells. The range includes two products: the Parasoft Ultra Hydrating and Protecting Cream and the Parasoft Ultra Daily Moisturizing Body and Face Lotion. Notably, both products are paraben-free, and their non-greasy application enhances user convenience.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Shea Butter Market Characteristics
3. Shea Butter Market Trends And Strategies
4. Shea Butter Market - Macro Economic Scenario
5. Shea Butter Market Size And Growth
…..
27. Shea Butter Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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