Shea Butter Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

Shea Butter Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 5, 2024 /EINPresswire.com/ -- The shea butter market has experienced robust growth in recent years, expanding 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.

Strong Future Growth Anticipated
The shea butter market is projected to continue its strong growth, reaching $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.

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Growth Driver 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.

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Major Players And Market Trends
Key players in the shea butter market include BASF SE, Bunge Limited, Wilmar Africa Limited, Clariant AG, AAK AB, Fuji Oil Holdings Inc., Croda International PLC, L'Occitane en Provence.

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.

Segments:
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

Geographical Insights: North America Leading The Market
North America was the largest region in the shea butter market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the shea butter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Shea Butter Market Definition
Shea butter is a fat derived from the African shea tree's nut (Vitellaria paradoxa). It is ivory in appearance when raw and is generally tinted yellow using borututu root or palm oil. Shea butter is often used in cosmetics as a moisturizer, salve, or lotion. In some African countries, it is also nutritious and utilized in food preparation.

Shea Butter Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Shea Butter Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on shea butter market size, shea butter market drivers and trends, shea butter market major players, shea butter competitors' revenues, shea butter market positioning, and shea butter market growth across geographies. The shea butter market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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