The global shea butter market is widely used in cosmetic and personal care products owing to its emollient properties that nourish the skin. Shea butter is extracted from the nuts of the African shea tree that grows abundantly in West Africa. Some key advantages of shea butter include moisturizing dry skin, healing cracks, soothing inflamed skin, protecting skin from UV damage and reducing signs of aging. Growing awareness about the natural nourishment benefits of shea butter among consumers is fueling the demand for shea butter based cosmetic products.
The Global Shea Butter Market is estimated to be valued at US$ 2.68 Bn in 2024 and is expected to exhibit a CAGR of 16% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the shea butter market are Verizon Communications Inc., AT&T Inc., TomTom N.V., MiX Telematics Limited, OnStar Corporation, Bayerische Motoren Werke AG (BMW), Trimble Inc., Zonar Systems, Inc., Omnitracs LLC, Inseego Corporation, AirIQ Inc., Bridgestone Corporation, General Motors Company (GM), Geotab Inc., Michelin Group, Octo Telematics S.p.A., Omnitracs, LLC, Bell Atlantic Corporation, Continental AG. The increasing demand for shea butter in cosmetic industry is propelling the shea butter market growth. Various technological advancements in shea butter extraction process such as mechanical pressing and centrifuge technology are helping improving shea butter quality and yields.
Market Trends
The key trends in the global Shea Butter Market Size include growing popularity of organic and unrefined shea butter. Manufacturers are emphasizing on sourcing shea butter from women-led cooperatives in Africa to promote sustainability and empower local communities. Another trend is the increasing incorporation of shea butter in male grooming products like beard oils and lotions to cater to the rising demand from health-conscious male consumers.
Market Opportunities
Rising population of health-conscious millennials and Generation Z globally creates opportunities for shea butter based nutritional supplements. Innovation of shea butter based innovative personal care and cosmetic product formulations such as soaps, lotions, masks etc. holds potential growth opportunities for shea butter market players.
Impact of COVID-19 on Shea Butter Market Growth
The COVID-19 pandemic has significantly impacted the growth of the global shea butter market. During the pandemic, travel restrictions and lockdowns imposed by various governments disrupted the supply chains and logistics of shea butter. This led to delays in shipment and shortage of raw materials for shea butter producers. This negatively impacted the market growth in 2020. However, with increasing demand for natural and organic personal care products during the pandemic, the demand for shea butter slightly increased as it is widely used in skin care and hair care products for its moisturizing properties.
As restrictions are being lifted now, production and supply chains are being restored. The market is expected to bounce back strongly in post-pandemic as people are more inclined towards natural products for their perceived immunity-boosting properties. The demand is anticipated to rise from personal care industry. Manufacturers will focus on innovative product formulations and branding strategies to cater to changing consumer preferences. Investments in technology and automation can help overcome future supply challenges. Overall, the long-term outlook remains positive driven by widespread applications and health benefits of shea butter.
Geographical regions with high concentration of Shea Butter market in terms of value
Africa accounts for the major share of the global shea butter market in terms of value, led by West African countries where the shea tree is extensively cultivated, including Burkina Faso, Ghana, Nigeria, and Benin. These countries contribute over 80% to the global production of shea kernels which are processed further to obtain shea butter. The demand is high from personal care producers located in Europe and North America who import shea kernels from West Africa and process them. Asia Pacific is also emerging as a fast growing market driven by availability of raw materials and growth in cosmetic industries in countries like China and India.
Fastest growing regional market for Shea Butter
The Asia Pacific market is projected to be the fastest growing regional market for shea butter during the forecast period. This is attributed to rapidly expanding personal care and cosmetic industries coupled with growing health and wellness trend in populous countries such as China and India. Increasing awarenesThe global shea butter market is widely used in cosmetic and personal care products owing to its emollient properties that nourish the skin. Shea butter is extracted from the nuts of the African shea tree that grows abundantly in West Africa. Some key advantages of shea butter include moisturizing dry skin, healing cracks, soothing inflamed skin, protecting skin from UV damage and reducing signs of aging. Growing awareness about the natural nourishment benefits of shea butter among consumers is fueling the demand for shea butter based cosmetic products.
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The global Cosmetic Shea Butter Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2021-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.This research report also includes profiles of major companies operating in the global market.
Some of the prominent players operating in the global cosmetic shea butter market are AAK AB, Agrobotanicals, LLC, AOS Products Private Limited, Archer Daniels Midland Company, BASF SE, Bunge Limited, Cargill, Incorporated, Clariant AG, Croda International Plc, Ghana Nuts Company Ltd., Ojoba Collective, Olvea Group, Sophim S.A., The HallStar Company, The Savannah Fruits Company, and others.
This section cover profiling of major players in terms of important aspects such as company overview, financial overview, business strategy, and recent developments undertaken during the forecast horizon.Get more information on "Global Cosmetic Shea Butter Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/cosmetic-shea-butter-market/download-sampleMarket DynamicsThe increasing consumption of cosmetics products such as lip gloss, sun care products, and others, especially among women, is driving the market growth.
Moreover, changing lifestyle coupled with rising disposable income and increasing consumer awareness towards cosmetic shea butter is pushing the market value.
On the flip side, high cost associated with such cosmetic products may hamper the market growth.The report has been created by using crucial tools such as Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis to help businesses around the globe navigate opportunities and challenges in the rapidly evolving marketplace with clarity.
