The Global Shea Butter Market size Is Anticipated to Rise at a CAGR of 7.60% Over the Forecast Period of 2022 To 2028, Says Brandessence Market Research

LONDON, Oct. 14, 2022 /PRNewswire/ -- The size of the Global Shea Butter Market was estimated to be USD 2.48 Billion in 2021 and to increase to USD 4.15 Billion by 2028, with a forecasted CAGR of 7.60%.

Global Shea Butter Market Scope-

The global shea butter market is reckoned to witness substantial gains over the assessment timeframe of 2022-2028. The extensive use of shea butter in cosmetics and food-based industry owing to the wide array of health benefits offered by shea butter is one of the primary factors fueling market growth. It is used as a major ingredient in moisturizers, lotions, lip balms, and hair conditioners, among others.

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Shea Butter Market: Competitive Analysis 

The major players characterizing the competitive terrain of global shea butter market are IOI Loders Croklaan, Ghana Nuts Ltd, Maison Karite Sociedad Limitada, Adunni Ori Ltd., Timiniya Tuma Company Ltd., Savanna Shea Industries, Star Shea Ltd, Shea Radiance, Vink Chemicals GmbH & CO. KG, and Jedwards International, Inc.

Global Shea Butter Market- Key Drivers

Shea butter is a type of fat that is extracted from the seeds of shea trees. It is semisolid and creamy in nature that makes it an effective emollient. It is known for its ability to hydrate, smoothen, and soften dry skin. Shea butter is further enriched with antioxidant and antifungal properties. The major factors augmenting the outlook of this industry are rising pervasiveness of skin-based disorders, the booming cosmetic sector, and increasing per capita income of the masses.

Alongside, the surging efforts of industry players to develop and launch highly effective shea butter based cosmetic products is adding momentum to the progression of this business vertical. Shea butter also aids in hair care as it is equipped with the ability to reduce hair fall, add luster and shine to the hairs, and protect the scalp from harmful environmental agents such as dirt and dust. This in turn has escalated the demand for shea butter-based hair products including oils, shampoos, and conditioners, among others.

The increasing R&D investments in the field, rising appearance consciousness of the masses, and growing pollution levels are creating lucrative opportunities for this industry to prosper.

Global Shea Butter Market- Key Trends

Rising prevalence of skin based disorders is fueling market growth

There has been an increasing pervasiveness of skin based disorders such as dry skin, eczema, acne, and rashes among the masses. This is mainly influenced by the rising pollution levels, unhealthy dietary habits, growing age, or genetic traits. Shea butter is enriched with Vitamin E, A, F, fatty, acids, carotene, and other beneficial components and therefore is highly effective in treating various skin based ailments. This in turn is stimulating the overall dynamics of this industry.

Surging geriatric population base is accelerating industry development

The elderly population base is highly prone to a wide array of skin based disorders. Our skin starts to loose collagen and other vital components as we age. This in turn causes wrinkles, dry skin, fine lines, along with other signs of aging. Shea butter induced products help in building skin collagen and also nourishes the skin to make it smooth, soft, and shiny. These factors are adding traction to the growth of this market. 

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Global Shea Butter Market- Segmentation Analysis

By type, the industry is bifurcated into raw and unrefined shea butter and refined shea butter. Based on application, the business vertical is split into cosmetics & personal care, food, medical, and others.

By Type

• Raw and unrefined Shea butter
• Refined Shea Butter

By Application

• Cosmetics & Personal care
• Food
• Medical
• Others

Global Shea Butter Market- Regional Analysis

In terms of geography, the global shea butter market has been fragmented into North America which consists of US and Canada along with MEA which includes Saudi Arabia, UAE, Egypt, and South Africa. The industry is further split into Asia Pacific which encompasses South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, and Rest Of APAC, and Latin America which includes Mexico, Columbia, Brazil, Argentina, and Peru.

On Special Requirement Shea Butter Market Report is also available for below region:

North America

• U.S, Canada

Europe

• Germany, France, U.K., Italy, Spain, Sweden, Netherlands, Turkey, Switzerland, Belgium, Rest of Europe

Asia-Pacific

• South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC

Latin America

• Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America

Middle East and Africa

• Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA

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