Shea Butter Market Anticipated to Generate a Revenue of $2,281,864.90 Thousand in 2021 to 2028

Rising awareness about the beneficial properties of shea butter in the treatment of skin disorders such as inflammation is expected to drive the shea butter market size with Europe emerging as the most lucrative market by 2028.

According to Research Dive analysis, the shea butter market is estimated to be valued at $2,281,864.90 thousand by 2028, surging from $799,928.40 thousand in 2020, at a noteworthy CAGR of 14.0%.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐧𝐨𝐰 @ https://www.researchdive.com/download-sample/3967

𝐒𝐡𝐞𝐚 𝐁𝐮𝐭𝐭𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬
Rising awareness about the beneficial properties of shea butter in the treatment of skin disorders such as inflammation is expected to drive the shea butter market size in the forecast time period. Also, the use of shea butter in the manufacturing of confectionery item like chocolate is further likely to boost the shea butter market growth.

Since shea butter is an expensive product, many companies and customers use alternative products like palm butter that are cheap compared to shea butter. This factor is likely to restrain the shea butter market growth.

Shea butter product launches by major players to cater high demand of people for natural, plant-based products is likely to provide opportunity for the rapid shea butter market growth. Also, increasing application areas of shea butter such as pharmaceuticals and nutraceuticals are further anticipated to generate high shea butter market share.

Based on type, the market has been divided into unrefined and refined shea butter. Among these, the unrefined sub-segment is predicted to have the fastest growing share in the global market and register a revenue of $1,680,499.60 thousand with an increase from $599,027.30 thousand in 2020. The growth is due to high demand for unrefined shea butter in cosmetic industry as it is rich in nutrition such as vitamin A.

Based on the application, the market is divided into cosmetics & personal care, food & beverages, and pharmaceuticals. The food & beverages sub-segment is projected to have the highest share and reach $2,022,945.20 thousand by 2028 in a time frame of 2021-2028. This is because shea butter is majorly used in the confectionery industry for marking chocolates.

On the basis of region, the Europe shea butter market accounted $ 338,369.70 thousand in 2020 and is projected to register a revenue of $978,920.00 thousand by 2028. The regional growth is due to presence of major cosmetic and confectionery industries in the Europe and use of shea butter in these industries for manufacturing different products.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 @ https://www.researchdive.com/request-for-customization/3967

𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭 𝐨𝐧 𝐭𝐡𝐞 𝐒𝐡𝐞𝐚 𝐁𝐮𝐭𝐭𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭
The shea butter market experienced a negative impact in COVID-19 pandemic. Due to transportation restrictions, the export and supply of shea butter to the companies and other countries were reduced. As a result, the manufacturing capacity of the companies was reduced. Also, many industries were completely shut due to which the production of shea butter was hampered. This factor further impeded the growth in the pandemic period.

𝐓𝐡𝐞 𝐜𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐢𝐧𝐯𝐨𝐥𝐯𝐞𝐝 𝐢𝐧 𝐭𝐡𝐞 𝐬𝐡𝐞𝐚 𝐛𝐮𝐭𝐭𝐞𝐫 𝐦𝐚𝐧𝐮𝐟𝐚𝐜𝐭𝐮𝐫𝐢𝐧𝐠 are Empower Village LLC., Bulk Apothecary, Baraka Shea Butter, Vink Chemicals GmbH & Co. KG, The Savannah Fruits, Clariant, Jedwards International, Inc., Akoma Cooperative Multipurpose Society, Ghana Nuts Company Limited, and The Organic Shea Butter Company.

𝐌𝐨𝐫𝐞 𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

Breakfast Cereals Market: https://www.researchdive.com/4169/breakfast-cereals-market

Palm Oil Derivatives Market: https://www.researchdive.com/4174/palm-oil-derivatives-market

Krill Oil Market: https://www.researchdive.com/4177/krill-oil-market

Alternative Sweetener Market: https://www.researchdive.com/4727/alternative-sweetener-market

Spices & Seasonings Market: https://www.researchdive.com/4181/spices-&-seasonings-market

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