Shea Butter Market Gains Momentum During Forecast Period 2019 To 2026

By Author: DBMR
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Market Analysis: Global Shea Butter Market
Shea butter market is projected to rise to USD 2.73 billion by 2026, undergoing growth with a substantial CAGR in the forecast period of 2019-2026. The growth of the market is because of its usage in skin and hair products such as lip gloss, moisturizers, and hair conditioner which are few of the dominant applications of shea butter. Shea butter melts at body temperature, which makes it an excellent base for ointments used in the treatment of itching and skin swelling such as eczema.
Market Definition: Global Shea Butter Market
Shea butter is a type of vegetable fat extracted from the nut of an African tree. It is widely used as a beauty product in cosmetics industry for skin and hair related products, in lip gloss, skin lotions, hair conditioners etc. It acts as an incredible skin moisturiser. It has a high content of vitamins and fatty acids, which are deemed fit for smoothening, soothing and moisturising the skin. Shea butter is also used in food preparation as an alternative to animal butter and vegetable oil. It also extensively used as an alternative to cocoa ...
... butter, in making of chocolates and confectionaries.
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Market Drivers:
• The rising prices of cocoa butter compel manufacturers to use shea butter as an alternative to cocoa butter in chocolates and confectionaries
• Shea butters increased applicability in bakery products and in the food industry
• Shea butter is extensively used in the cosmetics industry, manufacturers are introducing new and innovative products into the market containing shea butter
• The growing awareness of the benefits of using shea butter
• The increasing ageing population, leads to an increased demand for anti-ageing products which contain shea butter
Market Restraints:
• Large variety of substitutes to shea butter are available in the market, such as mango butter, shea oil, avocado butter, and cocoa butter which can restrain it’s growth
• The level of industry organisation is still lagging and there are not set standards or the quality of the product which restrains the growth of this market
Segmentation: Global Shea Butter Market
By Distribution Channel
• Specialty Stores
• Online Stores
• Supermarket
• Convenience Stores
• Hypermarket
• Others
By End User
o Pharmaceuticals & Medical
o Cosmetics & Personal Care
o Lotions & Creams
o Lip Balm & Lipsticks
o Sun Care Products
o Soaps & Toiletries
o Cleaners
o Shampoo & Conditioners
o Others
o Food Processing
o Bakery
o Chocolate & Confectionery
o Ice Cream
o Others
o Retail
o Others
By Grade
• Grade A (Unrefined)
• Grade B (Refined)
• Grade C (Highly Refined)
• Grade D
• Grade E
By Nature
• Organic
• Conventional
By Species
• Vitellaria Nilotica
• Vitellaria Paradoxa
By Certification
• Certified
• Uncertified
By Geography
• North America
o U.S.
o Canada
o Mexico
• South America
o Brazil
o Argentina
o Rest of South America
• Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Russia
o Turkey
o Belgium
o Netherlands
o Switzerland
o Rest of Europe
• Asia-Pacific
o Japan
o China
o South Korea
o India
o Australia
o Singapore
o Malaysia
o Indonesia
o Thailand
o Philippines
o Rest of Asia-Pacific
• Middle East and Africa
o South Africa
o Egypt
o Saudi Arabia
o United Arab Emirates
o Israel
o Rest of Middle East and Africa
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Key Developments in the Market:
• In March 2018, Bunge Limited has completed its acquisition of IOI Loders Croklaan. With this, Bunge is expected to become a global leader in business to business consumers in the food processing industry for bakery, chocolates, confectionary, nutrition and food service segments. This acquisition would merge Bunge’s existing edible oils portfolio with Loaders speciality products from tropical feedstock like shea butter, palm, coconut and several others.
• In November 2017, Sundial was acquired by Unilver. Sundial Brands is one of the largest personal care products company, with brands which use shea butter as their main ingredient in the manufacturing of their products. With this acquisition, Unilever would continue to grow its business and would cater to the use of shea butter in their products. This acquisition would thus enhance the use of shea butter by global leading brands, and would further lead to the global growth of shea butter market.
Competitive Analysis: Global Shea Butter Market
Global shea butter market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of shea butter market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
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Key Market Competitors: Global Shea Butter Market
Few of the major competitors currently working in the shea butter market are Empower Village LLC., J.A.M. Distributing Company, Bulk Apothecary, Pameri Organic Malaysia Sdn Bhd, Vermont Soap, Baraka Shea Butter, Maison Karite, Vink Chemicals GmbH & Co. KG, savannahfruits.com, Cargill, Incorporated, Clariant, Aos Product Pvt. Ltd., Timiniya Tumna Company, Jedwards International, Inc., shebuindustriesltd.com, Akoma Cooperative Multipurpose Society, Ghana Nuts Company Limited, Aethon-International, The Organic Shea Butter Company amongst others.
Research Methodology: Global Shea Butter Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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