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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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
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 its 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
By End User
Pharmaceuticals & Medical
Cosmetics & Personal Care
Lotions & Creams
Lip Balm & Lipsticks
Sun Care Products
Soaps & Toiletries
Shampoo & Conditioners
Chocolate & Confectionery
Grade A (Unrefined)
Grade B (Refined)
Grade C (Highly Refined)
Rest of South America
Rest of Europe
Rest of Asia-Pacific
Middle East and Africa
United Arab Emirates
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 Loader’s 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.
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.
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