The global shea butter market size is expected to reach USD 1.76 billion by 2025 expanding at a CAGR of 6.6%. Increasing demand for coco butter alternative and growing consumption of chocolate and bakery products are expected to drive the market. In addition, widespread usage of shea butter as a substitute for edible vegetable oils and fat in various food applications is likely to spur the demand.
Bakery and confectionery
manufacturers widely use it as an alternative for cocoa butter due to high
prices of cocoa as a result of limited supply. The product also contains
essential fatty acids, such as stearic and oleic acids, and unsaponifiables,
such as sterols and phenols, which have moisturizing and conditioning
properties. It has a better absorption rate than coco butter and is suitable for
all skin types, which increase its demand in personal care & cosmetics
industry as well.
In addition, extensive R&D by
cosmetics manufacturers to introduce innovative and more effective shea
butter-based products will drive the product demand in this sector. Thus, high
product demand in personal care & cosmetics industry will also boost the
market growth.
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Further key
findings from the study suggest:
- The personal care &
cosmetics application is expected to be the largest segment over the
forecast period
- However, food and beverage
is projected to be the fastest-growing application segment at a CAGR of
6.5% from 2019 to 2025
- Middle East and Africa is
the largest regional market. On the other hand, Europe is estimated to
register the fastest CAGR from 2019 to 2025
- U.S., Germany, China, and
South Africa are the major countries with lucrative markets for shea
butter
- Some of the key companies in
the shea butter market are BASF SE; Olvea Group; Sophim S.A.; Cargill,
Inc.; Suru Chemicals; Ghana Nuts Company Ltd.; Croda International Plc;
Agrobotanicals, LLC; Clariant AG; and AAK AB
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Grand View Research has segmented
the global shea butter market on the basis of application and region:
Shea Butter
Application Outlook (Revenue, USD Million, 2015 - 2025)
- Personal Care & Cosmetics
- Food & Beverage
- Others
Shea Butter
Regional Outlook (Revenue, USD Million, 2015 - 2025)
- North America
- U.S.
- Europe
- U.K.
- Germany
- Asia Pacific
- India
- China
- Central & South America
- Middle East & Africa
- South Africa
- Nigeria
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and headquartered in San Francisco. The company provides syndicated research
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