Global Shea Butter Market 2024–2033

Reports Description

According to Custom Market Insights (CMI), the Global Shea Butter Market was estimated at USD 2.5 billion in 2021 and is expected to reach USD 2.8 billion in 2022 and is anticipated to reach around USD 5.2 billion by 2030, growing at a CAGR of roughly 8% between 2022 and 2030.

Our research report offers a 360-degree view of the Shea Butter market’s drivers and restraints, coupled with the impact they have on demand during the projection period. Also, the report examines global opportunities and competitive analysis for the Shea Butter market.

To learn more about this report - request a sample report PDF

• 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.
• It is abundant in vitamins, and minerals like potassium, magnesium, and other nutrients and is free of chemical additives and preservatives. It also contains vitamins A, F, and E, which are substituted for hardened fats in foods and beverages, including vegetable oils and animal-derived lipids. Due to its superior moisturizing, healing, and hydrating qualities, it is also utilized as a substitute for coconut oil, butter, and olive oil in cosmetic products such as moisturizers, sunscreens, creams, and lotions.
• 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.

Report Scope

The global Shea Butter market research report offers an in-depth analysis of the global market size, which is further segmented into the regional and country-level market size, and segmentation market growth. Also, it provides the market share, sales analysis, competitive landscape, the impact of domestic and global market participants, trade regulations, value chain optimization, recent key developments, strategic market growth analysis, opportunities analysis, product launches, and technological innovations. The scope of the study includes market sizing and forecast for segmentation by product, application, and geography.

Report Scope

Key Market Dynamics

• 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.
• Due to increased customer demand for goods that offer a variety of benefits and sustenance, the cosmetics industry has recently started to diversify its usage of shea butter. Additionally, it's a component of lotions, baby oil, skincare, hair care, color cosmetics, and other goods. Shea butter has many applications, likely to spur market expansion in the next seven years.
• 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.
• In the coming years, global shea butter market revenue is expected to increase as people become more aware of shea butter's therapeutic benefits for the skin, including its anti-ageing effects, additional moisturizing characteristics, and healing effects. Additionally, the preference of people, particularly women and young people, for cosmetic goods made with natural ingredients is anticipated to promote market growth. In March 2022, around 85% of consumers worldwide would favour skin care products with natural components like shea butter, according to a National Programs article.
• Additionally, the market is anticipated to grow faster than average over the period under consideration due to the rising number of product launches in the cosmetics & personal care sector.

Raw & Unrefined Shea butter to Hold the Largest Share in the Shea Butter Market in 2021

• The raw & unrefined shea butter segment led the shea butter market in 2021, and it is anticipated that it will continue to dominate during the forecast period. Less processed oils are gaining popularity among consumers because of their advantages, which include increasing skin hydration, mending scrapes & cuts, and preventing breakouts.
• For instance, Karite Shea Butter introduced Crème Corps Body Cream in March 2020. This natural body care line offers the advantages of raw and unprocessed ingredients, making it healthy for the skin. The successful market growth trend is anticipated to be supported by such launches.
• During the forecast period, the refined segment is anticipated to increase at the second-fastest rate. Because the product has a longer shelf life, people are increasingly favouring refined. The aroma and color of the product are also removed during the refining process, which is anticipated to expand its application in skin care products by producers as they create anti-sensitive solutions.
• For instance, Crafters Choice debuted soap and other personal care items made with ultra-refined, pure shea butter in May 2021.

Competitive Landscape

With a large number of well-established international businesses and a large number of new important market entrants, the shea butter industry is fragmented globally. To boost their customer base and foster brand loyalty, these players are participating in significant acquisition and promotional campaigns.

The competitive landscape of the Shea Butter industry gives information about the competitors. The company's financials, revenue generated, market potential, investment in R&D, global presence, new market initiatives, production capacities, production sites & facilities, company strengths and weaknesses, product release, product width and breadth, and application dominance are among the details that are included. The data points mentioned above only pertain to the companies' market focus on Shea Butters.

• 2022: Byrdie introduced Karité, a brand-new skincare collection. The company sells a variety of necessities manufactured with pure shea butter as well as palm oil from their native West Africa, such as body lotion, hand cream, and lip balm. The items are sold in a variety of retail and beauty outlets in the United States and Canada and feature anti-inflammatory and antioxidant characteristics.
• 2021: Crafters Choice launched personal care products made with pure shea butter that are ultra-refined, such as body lotion and soap.

List of the prominent players in the global Shea Butter market:

• 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

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America