Shea Butter Market Size, Competitive Landscape and Market Forecast - 2030

SKU: DMFB2141 | Last Updated On: Jan 10 2023 | Available Formats

> Shea Butter Market Expected to reach a high CAGR of 5.6% By 2030: DataM Intelligence

Shea Butter Market is segmented By Product (Raw Shea Butter, Refined Shea Butter, Processed Shea Butter), By End-Use Industry (Food, Cosmetics, Others), By Distribution Channel (E-Commerce Stores, Supermarkets & Hypermarkets, Specialty Stores, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

 

Shea Butter Market Overview

The Shea Butter Market is expected to grow at a CAGR of 5.6% during the forecasting period (2023-2030).

Shea Butter is derived from Karite Tree which is extensively grown in the Savannah regions of West Africa. The key health benefits associated with shea butter include reducing Inflammations, Skin Smoothing, and high moisturizing content. The raw shea butter is used to rectify a variety of skin conditions such as eczema, dermatitis, psoriasis, minor skin irritations, extreme dryness, stretch marks, burns, cuts, and many other similar conditions.   The key shea butter-producing regions in Africa includes Ghana, Benin, Togo, and Burkina Faso. Increasing establishments of corporative by the government & non-government organizations to support African domestic production of Shea and increasing consumption of shea butter by personal care industries are major factors driving the global shea butter market.

 

Shea Butter Market Scope

Metrics

Details

Market CAGR

5.6%

Segments Covered

By Product, By End-Use Industry, By Distribution Channel, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

 

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Shea Butter Market Dynamics:

Increasing utilization of shea butter as an ingredient in the production of cosmetics & personal care products and chocolates is the primary factor driving the global shea butter market. Increasing government/regulatory approvals towards human consumption of shea butter and the presence of similar properties as palm oil are expected to boost food-related consumption of shea butter during the forecast period. Increasing government regulations towards decreasing the plantation and production of palm oil are further expected to boost huge demand for shea butter during the forecast period. Shea butter evolved as an effective alternative for cocoa butter in the manufacturing of chocolate due to the high presence of quality fat for the confectionery industry. Moreover, increasing adoption of highly sustainable and cost-effective ingredients in the production of chocolates and other confectionery products is further expected to boost the consumption of shea butter globally during the forecast period.

However, minimal product availability, lack of presence of suitable environmental conditions for the production of shea trees, and availability of alternatives are primary factors hindering the growth of the shea butter market globally during the forecast period. 

Shea Butter Market Segmentation

The global shea butter market is segmented on the basis of the end-use industry into food, cosmetics, and others.

The food industry dominated the global shea butter market owing to the growing usage of shea butter as a key ingredient in the production of various confectionery and bakery products, & the growing adoption of shea butter as a replacement for palm oil in food applications. Shea butter in the food industry is widely used as a replacement for cocoa butter in the production of ice-creams, chocolates, and biscuits due to its similar presence of fat content. Depleting plantation activities of cocoa due to rapid climate change, frequent plant disease associated with growing consumer demand for chocolate is predicted to boost huge demand for shea butter in the food industry globally during the forecast period.  

 

Shea Butter Market Geographical Presentation

By region, the global shea butter market is segmented into North America, South America, Europe, Asia-Pacific, Middle-east and America.

Europe is the fastest-growing market for shea butter owing to the presence of the confectionery industry and the growing adoption of shea butter in the production of various bakery and confectionery products. The major countries in Europe importing shea butter from African countries include Belgium, Denmark, Netherlands, Sweden, and the United Kingdom. Additionally, increasing consumer demand for cosmetic products with natural ingredients which are safer and healthier than synthetic substitutes is contributing to the growth of shea butter in the European region during the forecast period.

 

Shea Butter Market Competitive Analysis

The global shea butter market is witnessing investments from food and personal care companies into African-based shea butter cooperatives to boost production activities. The rapid investment growth in co-operatives and farming communities in the major shea-producing regions across Africa is expected to boost the production of butter during the forecast period.

  • On 4th November 2019, The Ghana Government initiated the construction activities of shea butter processing factory at Bogrigo in Bongo District to boost the domestic production and Shea butter in coming years.
  • In August 2018, Palladium invested in female-owned shea butter manufacturing company Naasakale to boost the production activities of shea in their respective fields.

Some of the key players in the global shea butter market include Now Foods, The Organic Shea Butter Company, New England Shea Butter LLC, Sekaf Ghana Ltd, and many other companies.

**The global shea butter report will provide access to approximately 53 market data tables, 46 figures, and 230 pages.

Frequently Asked Questions

What is the Projected CAGR value of the Shea Butter Market ?

Shea Butter Market is expected to grow at a CAGR of 5.6% during the forecasting period 2022-2029.

Which region controlled the global market during 2022-2029?

North America region Controls the Shea Butter Market  during 2022-2029.

Which is the fastest growing region in the Shea Butter Market?

Among all regions, Asia Pacific is the fastest growing market share during the forecast period.

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