The Global Shea Butter Market was at US$ 2.5 Billion in 2021 and is growing to approx US$ 5.2 Billion by 2032, with a CAGR growth of 8% between 2022 and 2030.

AUSTIN, TEXAS, UNITED STATES, May 30, 2023/EINPresswire.com/ -- According to the study, The Global Shea Butter Market was estimated at USD 2.5 Billion in 2023 and is anticipated to reach around USD 5.2 Billion by 2032, growing at a CAGR of roughly 8% between 2022 and 2030.

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Global Shea Butter Market: Overview

Shea butter is a fatty triglyceride obtained from the nuts of Vitellaria paradoxa trees, principally from oleic and stearic acids. It is extracted using the fractionation method, and once it has been refined, it can be used in place of cocoa butter. Shea butter, which is derived from shea nuts, is rich in potassium, protein, and magnesium.

Global Shea Butter Market: Growth Drivers

Shea butter is utilized in a wide range of industries, such as cosmetics, food, beverages, pharmaceuticals, and more. Shea butter offers many advantages. Shea butter has also been shown to be helpful in a number of ailments in numerous research. Shea butter’s advantages are being investigated in numerous other fields besides its current uses. This is anticipated to expand the uses for shea butter and pave the way for the introduction of various new products aimed at emerging indications.

As the prevalence of diseases linked to a sedentary lifestyle increases, consumers worldwide are becoming more health-conscious. Because of this tendency, people believe that items made with natural components, like shea butter, are safer and healthier than their processed or chemically made counterparts. The high level of customer acceptance is another significant reason fueling the expansion of the shea butter market. Its advantages and uses have been known to consumers all over the world for several thousand years. The cost of educating consumers about its advantages and uses is thereby reduced for producers.

Modern extraction methods have made it possible to use shea butter in its purest form. Additionally, they have been able to increase the shelf life of their products to match customer expectations thanks to the use of superior preservatives. In recent years, this has increased demand. Additionally, shea butter market participants refrain from employing artificial chemicals to boost customer attractiveness.

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Key Insights:

A) As per the analysis shared by our research analyst, the Global Shea Butter market is estimated to grow annually at a CAGR of around 8% over the forecast period (2022-2030).
B) In terms of revenue, the Global Shea Butter market size was valued at around USD 2.5 Billion in 2023 and is projected to reach USD 5.2 Billion by 2032. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) Shea butter is a naturally occurring product made from the shea tree’s nuts and is widely utilized in the culinary and cosmetics industries. In addition to having good fats and micronutrients, the product is a skin-nourishing agent that can be used directly on the skin or combined with other ingredients to make lotions, soaps, shampoos, or creams.
D) Due to a severe lockdown, the COVID-19 outbreak had a negative effect on the market by disrupting the delivery of raw materials to industrial facilities. Additionally, shops and enterprises were shut down, which further decreased sales of shea butter-based goods. Shea butter usage in soap products was lowered by 25% in November 2021, per a National Center for Biotechnology Information (NCBI) article. Additionally, the worldwide economic downturn forced consumers to be cautious with their spending, which had an impact on the market.
E) Over the course of the projected period, increased demand for cocoa butter alternatives and rising consumption of cocoa and bakery goods are anticipated to propel market expansion. Shea butter is viewed as a healthier option to cocoa butter, according to a Dairy Reporter story from October 2021. Additionally, the aforementioned product is frequently utilized in a variety of food applications as a replacement for edible vegetable fats and oils, which is predicted to expand the market’s potential.
F) In the years to come, there will likely be an increase in demand for the market due to the rising demand for baked products and confectionery, as well as the need for alternatives for cocoa butter. Puff pastry, cookies, and chocolates are just a few of the baked delicacies that use shea butter as a basic ingredient.

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Regional Landscape

In 2021, Europe held the greatest market share worldwide. Because there are so many cosmetics and pharmaceutical businesses in Europe, shea butter is widely used to produce goods like body lotions, moisturizers, and chocolates. In March 2022, the Centre for the Promotion of Imports (CBI) reported that over 25% of the world’s total ingredient in various goods was consumed in Europe. Furthermore, it is projected that this boom will continue because the region has a plentiful supply of raw materials from Sub-Saharan African nations.

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Key Players

BASF SE
Croda International
Bunge Limited
Cargill, Inc.
Archer Daniels Midland Company
International Oils & Fats Limited
Wilmer International
Ghana Nuts Company Limited
Fuji Oil Holdings, Inc.
3F Industries Ltd.
Others

The Global Shea Butter Market is segmented as follows:

By Product

Raw & Unrefined
Refined

By Application

Food & Beverage
Cosmetics & Personal Care
Others

By Geography

North America

The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe

Asia Pacific

China
Global India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific

Latin America

Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa

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