Shea butter is produces from the seeds of Vitellaria paradoxa (shea) tree which is found in Africa and finds major application in cosmetics, pharmaceutical and food & beverage industries along with it is consumed as edible oil in African Countries. Supporting regulatory norms by African government to increase shea butter production owing to rising economic women empowerment in this sector will accelerate industry growth.
Shea Butter Market Trends
- Increase in application scope in bakery and confectionery application owing to cost effectiveness over cocoa butter supported by rise in consumption of chocolates and bakery products will favour industry growth. Widespread use as a substitute of vegetable oil in food application will further surge product demand
- Growing research activities in cosmetics and personal care products to produce novel multifunctional product will spur product demand. Therapeutic features, high antioxidant content along with excellent melting properties make shea butter suitable base for cosmetic products
- However, availability of cheaper substitute such as mango butter, avocado butter cupuacu butter might act as a restricting factor towards industry growth. Moreover, high latex content in shea butter which may cause allergies to sensitive skin customers which will further hider industry growth
Shea Butter Market COVID-19 Impact
Shea butter is originally produced in African countries which are imported by other regions like Europe, Asia Pacific and North America. COVID 19 has hard hit impacts on international trades owing to shutting down of transportation, production disrupting the entire supply chains. Production shutdowns have led to decrease in manufacturing of non-essential cosmetics or personal care product, pharmaceuticals which will further restrict industry growth.
The report provides market estimation & forecast for global shea butter market considering economic conditions during COVID 19 pandemic. Study impact of COVID 19 on market value with holistic approach considering both supply and demand side of the market. Macro and Micro economic factors analysis pertaining to economic policies, GDP and international trade changed due to COVID 19. After COVID 19 scenarios with coping strategies adopted by the major market players.
Shea Butter Market Regional Highlights
The global market is studied for the key regions such as, North America, Europe, Asia Pacific and Rest of the World. North America comprises of U.S., Canada and Mexico. Whereas, Europe covers UK, France, Germany, Italy, Spain and Rest of Europe. The key countries included under Asia Pacific are China, India, Japan and Rest of Asia Pacific. The Rest of the world includes Latin America and Middle East & Africa.
Europe led by UK and Germany is the fastest growing region for shea butter market and is projected to observe strong gains over the coming years. Growing demand for natural and organic cosmetics owing to rising awareness among consumers regarding natural ingredients supported by green and organic label approvals by European government generating awareness regarding these products will promote regional industry growth. In addition, increase in consumption of bakery and confectionery food products will further drive regional product demand.
Shea Butter Market Segmental Overview
- The report analyses the global shea butter market based on product, application and geography
- Various product studied are segmented into unrefined and refined. Unrefined shea butter contains no additional preservatives or chemicals added during refining process and contain high concentrations of natural vitamins and fatty acids. It is exceptional moisturizer loaded with antioxidants and anti-inflammatory properties
- Furthermore, the major application considered in the study is cosmetics & personal care, pharmaceuticals and food & beverages
Shea Butter Market Competitor Analysis
The key players in the Shea Butter market includes BASF SE, Olvea Group, Sophim S.A,Cargill, Incorporated, Suru Chemicals, Croda International Plc, Clariant AG, AAK AB, Cornelius Group plc, Ghana Nuts Co. Ltd, International Oils & Fats Limited, Akoma Cooperative Multipurpose Society, SHEBU Industries Limited and Baraka Shea Butter.
The report analyses the global shea butter market based on product, application and geography. Various product studied are segmented into unrefined and refined. Furthermore, the major application considered in the study is cosmetics & personal care, pharmaceuticals and food & beverages
The global market is studied for the key regions such as, North America, Europe, Asia Pacific and Rest of the World. North America comprises of U.S., Canada and Mexico. Whereas, Europe covers UK, France, Germany, Italy, Spain and Rest of Europe. The key countries included under Asia Pacific are China, India, Japan and Rest of Asia Pacific. The Rest of the world include Latin America and Middle East & Africa.
Why to buy this report:
- The report offers changing market dynamics in the shea butter market, presenting historical, current and projected market size in terms of value (USD Million)
- The research study provides an in-depth analysis of the industry value chain focusing on the peer and parent markets of shea butter
- It presents a comprehensive assessment of geographical regions exhibiting promising growth, potential and niche segments, and a neutral perspective on the shea butter market performance
- The report also offers strategic recommendations in key business segments based on the market estimations and competitive landscape, mapping the key common trends of shea butter market
