Global Shea Butter Market to Grow from USD 1.66 Billion in 2024 to USD 4.45 Billion by 2032 at 13.1% CAGR - Shea Butter Market Forecast

According to a new report by Maximize Market Research, the global Shea Butter Market was valued at USD 1.66 billion in 2024 and is projected to reach USD 4.45 billion by 2032, growing at a compound annual growth rate (CAGR) of 13.1% over the period. Key growth drivers include increased demand for natural moisturizers in skincare and cosmetics, urbanization, and robust raw material supply especially in the Middle East & Africa region.

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Key Highlights
Market Size & CAGR: USD 1.66 billion in 2024; expected to grow to USD 4.45 billion by 2032 at a 13.1% CAGR.

Product Types: Includes raw/unrefined; refined and ultra-refined shea butter segments.

Leading Region: Middle East & Africa accounted for ~39% share in 2024, owing to abundant raw material supply and labour.

Fastest-Growing Region: Europe is projected to register strong growth (≈ 7.5% CAGR) over the forecast period, driven by demand in cosmetics & food/bakery.

Drivers & Trends: Increasing cosmetic & personal care usage; consumer preference for natural, ethically sourced ingredients; growth in refined shea butter for cleaner scent and properties; rising use in food & bakery items in certain regions. Restraints may include supply chain challenges, quality variation, and regulatory / certification requirements.

Key Players / Competitive Landscape: Includes major producers and suppliers operating in Africa and global markets (report identifies market leaders, followers, new entrants) across both raw and refined product lines.

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Market Outlook
Product Type Segmentation
Shea butter is available in raw/unrefined form and refined / ultra-refined forms. Raw / unrefined shea butter continues to dominate due to its natural properties and minimal processing, preferred by cosmetics and personal care brands prioritizing natural and organic formulation. Refined and ultra-refined forms are gaining traction as consumers and manufacturers look for versions with lower odor, higher purity, and suitability for food or sensitive skin applications.

Application Areas
Major applications include cosmetics & personal care (moisturizers, lotions, body butters, hair care), and increasing use in food & bakery (especially in regions where shea is used similarly to butter or other fats). The cosmetic/personal care segment is expected to maintain high demand due to rising beauty & skincare trends emphasizing natural ingredients.

Regional Insights
Middle East & Africa (MEA): Held the largest share (~39%) in 2024 due to being a primary production zone with favorable raw material availability and low labour costs.

Europe: Projected to have strong growth at ~7.5% CAGR, driven by consumer demand for natural cosmetics, skincare, and food applications. Regulatory environment and premium product demand support this expansion.

Other Regions: Demand is increasing in North America and Asia-Pacific, particularly where consumer awareness of clean beauty and natural ingredients is rising. Supply chain, cost, and certification remain key challenges in some of these markets.

To learn more about the findings of this research, please check:https://www.maximizemarketresearch.com/market-report/global-shea-butter-market/23770/

Quote
"Shea butter is emerging as more than just a traditional ingredient-it's becoming a cornerstone of natural and sustainable beauty and food sectors worldwide," said a senior analyst at Maximize Market Research. "With a projected 13.1% CAGR through 2032, stakeholders who ensure quality, ethical sourcing, and diversification between raw and refined forms are best positioned to leverage this fast expanding market."

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About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

This release was published on openPR.