Shea Butter Market Overview: Market Size, Major Drivers And Trends
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The global shea butter market size is expected to grow from $1.87 billion in 2022 to $2.01 billion in 2023 at a compound annual growth rate (CAGR) of 7.8%. The shea butter market is expected to reach $2.61 billion in 2027 at a CAGR of 6.7%.
What will drive 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.
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Who are the major players in the market?
Major players in the shea butter market are BASF SE, Bunge Limited, Wilmar Africa Limited, Clariant AG, AAK AB, Fuji Oil Holdings Inc., Croda International plc, L’Occitane en Provence, NOW Foods.
Which trend is gaining popularity in the shea butter market?
Integrating advanced technology and product innovations has emerged as a key trend gaining popularity in the shea butter market. Major companies operating in the shea butter market are focused on integrating advanced technology to sustain their position in the market.
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How is the shea butter market segmented?
Global Shea Butter Market Segments Include:
- By Product: Raw And Unrefined Shea Butter, Refined Shea Butter
- By Nature: Organic, Conventional
- By Application: Food Processing, Cosmetics And Personal Care, Pharmaceuticals, Other Applications
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global shea butter market in 2021.
The Shea Butter Global Market Report 2023 provides an overview of the shea butter market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The shea butter market forecast analyzes shea butter market size, shea butter market share, leading competitor and their market positions.
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.
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