ALBANY, N.Y., Aug. 12, 2020 /PRNewswire/ -- From about USD 34 million in the year 2020, global cupuacu butter market valuation would grow to approximately USD 62 million by 2030. And, it is pertinent to note here that the market would grow at compound annual growth rate (CAGR) of about 6.3% from 2020 to 2030.
As per Transparency Market Research, "A host of trends and drivers are impacting growth in the global cupuacu butter market in a positive way. One of the notable factors of growth is varied application of the butter in cosmetics and personal care products. Additionally, it is also significantly used in food processing industry."
Key Drivers of Growth in Global Cupuacu Butter Market:
A number of trends and drivers are keeping the global cupuacu butter market on an upward growth trajectory over the forecast period. Transparency Market Research has enumerated these growth factors in its market report. A glimpse into the same is provided below:
Herbal cosmetics are witnessing increase in demand owing to perceived health and wellness benefits
The growing trend of veganism is catching up across the world and this is paving way for growth in demand in the market
Portfolio diversification is being noted in the market and that diversification is set to drive demand
Growing awareness regarding health benefits of cupuacu is driving the market on an upward growth trajectory
Increasing focus on appearance is leading to higher demand for personal and cosmetics products, leading to increase in demand for safe and effective herbal ingredients
It is used in production of a range of sweet products (vegan) such as puddings, mousses, juices, candies, and ice creams
Competitive Landscape of Global Cupuacu Butter Market:
Key global cupuacu butter market players are Beraca Ingredientes Naturais SA., Hallstar, Henry Lamotte Oils GmbH, Jarchem Industries Inc., Butters.Si, BIOBRAZIL BOTANICALS, Shieling Laboratories, Leith Sourcing, LLC, and Amanaci Ingredients UG & Co. KG, among others.
New business-to-business websites and discount offerings are being introduced into the market by players eyeing higher market revenue. Other measures that top players are deploying include keen focus on innovation in product development. Details into these strategies and profiles of these players are presented in the market report prepared by Transparency Market Research.
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Shea Butter Market - The food industry is another key end user of shea butter. Shea butter finds use in bakery products wherein it is mainly used as a substitute of vegetable oils for chocolates and confectioneries. Besides this, shea butter is increasingly finding use as a substitute of cocoa. Such expanding use of shea butter is translating into growth for shea butter market.
Cosmetic Shea Butter Market - In a recent study on market dynamics of cosmetic shea butter, Transparency Market Research (TMR), notes notable growth between 2018 and 2026. Partly, the credit for the projected growth is owed to efforts directed towards the end by International Cocoa Organization and Global Shea Alliance. It has also contributed positively to better collaboration between various stakeholders such has manufacturers, distributors, wholesalers, and suppliers. And, it comes as no surprise that this comes forth as a stronger supply chain, contributing to growth in global cosmetic shea butter market, which is set to chart a steady CAGR (Compound Annual Growth Rate) of 5%.
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