Shea Butter Market size to exceed $2.9bn by 2025
Published Date: September 20, 2019 Authors: Kunal Ahuja, Sonal Singh
Shea Butter Market size is estimated to exceed USD 2.9 billion by 2025; according to a new research report by Global Market Insights, Inc.
Strong demand for natural and safe cosmetics among consumers will drive shea butter market growth. Increasing penetration of premium cosmetic brands based on natural additives will support product application scope. Ongoing research and development on improving production of innovative and effective cosmetic shea products with better nourishing benefits will boost the overall cosmetic industry outlook. Global cosmetics consumption is estimated to surpass USD 750 billion by 2025 and anticipated to garner notable growth throughout the estimated timeframe.
Rising shea butter application in food processing and beverage sectors along with the rampant bakery products consumption will stimulate product demand in the forecasted timeframe. Increasing shea butter popularity as an ingredient and alternative to cocoa butter in chocolates and baked products to provide excellent flavor, texture and eating appearance will aid to maintain sizeable market share. Escalating shea butter use as a substitute to edible vegetable fats and oils in food industry due to its extended shelf life and low prices will encourage market growth in this segment by 2025.
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Favorable government regulations in Europe and guidelines promoting the usage of naturally extracted ingredients in final consumer product will create positive business outlook for manufacturers. For instance, shea butter is registered in the European Commission cosmetic ingredient database (COSING) for its use as an excellent emollient in green cosmetics. Presence of high triglyceride content (stearic and oleic acid) retains valuable moisturizing and anti-inflammatory characteristics in shea butter, thus catering to stringent cosmetics guidelines. However, overuse of cosmetic products poses severe human health issues which might impact shea butter demand in the coming decade.
Browse key industry insights spread across 250 pages with 212 market data tables & 21 charts & figures from the report, “Shea Butter Market Size By Product (Raw and Unrefined Shea Butter, Refined Shea Butter), By Application (Food & Beverage, Personal Care & Cosmetics and Pharmaceutical), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
Refined shea butter is anticipated to exceed 10% growth in terms of revenue by 2025. Refining shea, masks signs of impurity, odor and color and make it smooth and lustrous. Numerous advantages over unrefined shea including improved skin safety, dark spots reduction and sagging skin will boost market growth. Manufacturing companies are incorporating shea butter in body lotions, massage butters, lip balms, and as moistening agent in shaving creams and soaps. Positive application scope as potential skin soothing and healing ingredient in personal care products will propel the global market size.
Shea butter market size from food and beverage application is anticipated to hold over 65% revenue share by 2025. Increasing shea butter adoption as cooking fats makes it key ingredient in manufacturing margarine and shortenings for multiple bakery products. Shea acts as a healthy alternative in confectionery products since it eliminates hydrogenation process and unsaturated fatty acids formation. Rising demand for bakery products among young generation will also enhance product adoption rate over the forecast timeframe.
Europe led by Germany, France and UK shea butter market will witness over 9% CAGR from 2019 to 2025. Europe is a key importer of shea kernels and shea butter and majority of the imports are being consumed among the food sector. Strong public perception for shea butter as heathier alternative to cocoa butter equivalent in bakery items is immensely driving the product demand in European economies. Growing chocolate consumption in France, Belgium and Germany has supported the substitution of cocoa butter with its natural equivalents (vegetable oils and shea butter). The natural cocoa shortage due to plant disease and climate change and widening chocolate demand will open new avenues and opportunities to the manufacturers in this region.
Savanna Shea Industries, Croda International, Bunge Loders Croklaan, OLVEA GROUP,AAK AB, Cornelius Group plc., Ghana Nuts Co. Ltd, International Oils & Fats Limited, Akoma Cooperative Multipurpose Society and Cargill Inc., are among the major shea butter manufacturing companies. The global industry share is fragmented in nature due to presence of small scale, large regional and multinational players operating comprehensively. Cosmetic and beauty care industries are maintaining strong partnerships with shea butter producers in African countries to import high quality shea nuts. This is one of the key strategies to gain significant competitive share by the major industry players.
Shea Butter market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilo Tons, and in USD Million from 2014 to 2025, for the following segments:
Shea Butter Market, By Type
- Raw and Unrefined Shea Butter
- Refined Shea Butter
Shea Butter Market, By Application
- Food & Beverage
The above information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Burkina Faso
- Saudi Arabia