Press release
Shea Butter Market Segmentation | Application Outlook | Product Benchmarking | Forcast | 2030
๐๐ฅ๐จ๐๐๐ฅ ๐๐ก๐๐ ๐๐ฎ๐ญ๐ญ๐๐ซ ๐๐๐ซ๐ค๐๐ญ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ: ๐๐ซ๐จ๐ฐ๐ญ๐ก, ๐๐ซ๐๐ง๐๐ฌ, ๐๐ง๐ ๐ ๐จ๐ซ๐๐๐๐ฌ๐ญ (2024-2030)๐๐๐ซ๐ค๐๐ญ ๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ:
The global shea butter market was valued at approximately USD 1.47 billion in 2023 and is projected to expand significantly, reaching around USD 3.48 billion by 2030. This growth translates to a compound annual growth rate (CAGR) of 13.1% over the forecast period. Shea butter, derived from the nuts of the shea tree native to Africa, is renowned for its rich composition of essential nutrients such as magnesium, potassium, and proteins. It is widely used for its beneficial properties in repairing, cleansing, and protecting the skin.
๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ ๐๐๐๐ข๐ญ๐ข๐จ๐ง๐๐ฅ ๐๐๐ญ๐๐ข๐ฅ๐ฌ ๐๐ฒ ๐๐ฅ๐ข๐๐ค๐ข๐ง๐ ๐ญ๐ก๐ ๐ฅ๐ข๐ง๐ค ๐ฉ๐ซ๐จ๐ฏ๐ข๐๐๐: https://www.maximizemarketresearch.com/request-sample/23770/
๐๐๐ซ๐ค๐๐ญ ๐๐ฒ๐ง๐๐ฆ๐ข๐๐ฌ:
The burgeoning demand for shea butter can be attributed to its versatile applications and cost-effectiveness. It serves as a viable substitute for cocoa butter in various products such as ice cream, chocolate, and biscuits, owing to its similar fat composition. This demand is further propelled by its application in the bakery and confectionery sectors, where it is favored for its excellent melting properties, extended shelf life, and cost-efficiency. For instance, Hershey's has incorporated shea butter into its non-chocolate products, highlighting its role as a significant cocoa butter equivalent (CBE).
The cosmetic industry is also a major driver of the shea butter market. The ingredient's smooth texture, effective spreadability, and therapeutic benefits make it an ideal component in personal care products. Its popularity in anti-aging and skincare products continues to rise, driven by increasing consumer interest and product innovation. The expansion of social media and the rising middle-class income levels contribute to the growing online spending on premium cosmetics, further boosting market demand.
However, the market faces challenges from the availability of cheaper alternatives like mango butter and avocado butter. Additionally, the high latex content in shea butter may cause allergic reactions in sensitive individuals, potentially restraining market growth.
๐๐๐ซ๐ค๐๐ญ ๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง:
โข ๐๐ฒ ๐๐ซ๐จ๐๐ฎ๐๐ญ ๐๐ฒ๐ฉ๐:
o Raw and Unrefined: This segment held a dominant market share of 75% in 2023. The increasing preference for minimally processed oils due to their health benefits drives this trend. Raw shea butter retains beneficial properties that help in treating various skin conditions, including acne, psoriasis, and dry skin. Its natural composition makes it a popular choice for consumers seeking chemical-free skincare solutions.
o Refined and Ultra-Refined: Expected to grow at a CAGR of 4% during the forecast period, this segment is utilized primarily in industrial applications. The refined forms are sought after for their purity and specific functionalities, although their market potential is somewhat limited compared to raw shea butter.
โข ๐๐ฒ ๐๐ฉ๐ฉ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง:
o Personal Care & Cosmetics: Dominating the market with a 40% share in 2023, this sector benefits from the high demand for innovative skincare and cosmetic products. The integration of shea butter in these products is driven by its efficacy in skin repair and rejuvenation.
o Food and Beverages: Anticipated to grow at a CAGR of 9%, the food sector's use of shea butter is increasing as a substitute for cocoa butter in baked goods and confectionery. Its stability at room temperature and its role in preventing trans-fat formation make it a preferred choice for healthier margarine production.
๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ ๐๐๐๐ข๐ญ๐ข๐จ๐ง๐๐ฅ ๐๐๐ญ๐๐ข๐ฅ๐ฌ ๐๐ฒ ๐๐ฅ๐ข๐๐ค๐ข๐ง๐ ๐ญ๐ก๐ ๐ฅ๐ข๐ง๐ค ๐ฉ๐ซ๐จ๐ฏ๐ข๐๐๐: https://www.maximizemarketresearch.com/request-sample/23770/
๐๐๐ ๐ข๐จ๐ง๐๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ:
โข ๐๐ข๐๐๐ฅ๐ ๐๐๐ฌ๐ญ ๐๐ง๐ ๐๐๐ซ๐ข๐๐ : Dominated the market with a 39% share in 2023, due to rapid urbanization and high disposable income levels. The region benefits from abundant raw materials and low labor costs, supporting significant market growth.
โข ๐๐ฎ๐ซ๐จ๐ฉ๐: Expected to grow at a CAGR of 7.5% during the forecast period. The region's strong demand for personal care products and high consumption of chocolate and baked goods contribute to its market growth.
๐๐๐ฉ๐จ๐ซ๐ญ ๐๐๐ฃ๐๐๐ญ๐ข๐ฏ๐๐ฌ: This comprehensive analysis aims to provide stakeholders with an in-depth understanding of the shea butter market. It covers historical data from 2018 to 2023, current market conditions, and future forecasts up to 2030. The report includes a detailed examination of market trends, key players, and competitive dynamics, supported by PORTER and PESTEL analyses to assess external and internal factors influencing the industry.
๐๐จ๐ง๐๐ฅ๐ฎ๐ฌ๐ข๐จ๐ง: The shea butter market is set for robust growth driven by its diverse applications across cosmetics, food, and personal care sectors. Despite facing challenges from cheaper alternatives and potential allergic reactions, the overall market outlook remains positive, supported by increasing consumer demand and ongoing product innovations.
๐๐ก๐๐ ๐๐ฎ๐ญ๐ญ๐๐ซ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ:
1. better butter company
2. Elkridge, MD.
3. Ojoba
4. babo botanicals
5. sheabutterlikewhoa
6. The HallStar Company
7. Shea Yeleen Health & Beauty
8. Baraka Shea Butter
๐ ๐จ๐ซ ๐๐ง ๐ข๐ง-๐๐๐ฉ๐ญ๐ก ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ, ๐๐ฅ๐ข๐๐ค ๐ญ๐ก๐ ๐ฉ๐ซ๐จ๐ฏ๐ข๐๐๐ ๐ฅ๐ข๐ง๐ค: https://www.maximizemarketresearch.com/market-report/global-shea-butter-market/23770/
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๐๐จ๐ง๐ญ๐๐๐ญ ๐๐๐ฑ๐ข๐ฆ๐ข๐ณ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก:
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