Middle East and Africa dominated the market with a 39 % share in 2021. Rapid urbanization and increasing disposable income levels in the region.
The Shea Butter Market size was valued at US$ 1.15 Billion. in 2021 and it is expected to reach US$ 3.07 Bn. by 2029, at a CAGR of 13.1% though the forecast period.
Market Overview :
The global business consulting firm Maximize Market Research has announced a global business intelligence report on the Shea Butter market. The report indicates the lucrative growth for Shea Butter market suppliers in the forecast period through 2029. The report provides a competitive and pricing analysis along with the regional demand and supply and production analysis in it. It specifies its main segmentation and key drivers of the industry.
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Market Scope
The market intelligence report on Shea Butter market provides the readers with valuable information on the specific market drivers, challenges, restraints and market penetration and the opportunities prevailing in the market. The detailed analysis of the various segments of the market helps the stakeholders and investors to formulate investments and productiondecisions. While researching the market the quantitative and qualitative methods are used to properly analyse the industry. The size of the market and growth rate are covered in the report. The keys players and the new entrants in the market are analysed to understand a comprehensive competitive analysis.
Research tools are also used to understand the market’s strength, weakness, new opportunities and challenges coming in forecast period. Tools such SWOT, PESTLE and PORTER’s five forces are used to analyse to understand underlying factors affecting the industry.
Segmentation :
In terms of product, the Raw and Unrefined segment held a 75% market share in 2021. Due to the advantages of unrefined or cold-pressed oils, consumer demand for less processed oils is rising. For instance, unpurified shea butter helps the skin produce collagen and stimulates the tissue, keeping the skin looking fresh. It contains calming, nourishing, and hydrating qualities that are good for dry, damaged skin and hair. It aids in reducing inflammation and is a chemical-free substitute for many cosmetics. Due of its property, raw, unrefined shea butter aids in the treatment of rashes, stretch marks, frostbite, psoriasis, cracked lips, acne, anti-aging, and dry, itchy skin. These elements are fueling the market for shea butter segment expansion.
Through the projected period, the refined and ultra-refined category is anticipated to expand at a CAGR of 4%. The segment's demand is being driven by industrial use, refined form, etc. The expansion of the market is being constrained by the refined and ultra-limited refined's applications.
Personal care and cosmetics have a 40% market share by application in 2021. The high level of product demand in this industry is what has led to this expansion. To develop new, better shea butter-based products for the market, cosmetic companies are heavily spending in research and development. It is made of ester resins, which are suggested for cleaning, treating, and protecting injured skin from the sun. rising demand for skincare and anti-aging goods. These elements are fueling the segment's market expansion.
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Key Players :
• Ghana Nuts Ltd
• Maison Karite Sociedad Limitada
• Adunni Ori Ltd.
• Timiniya Tuma Company Ltd.
• Savanna Shea Industries
• Star Shea Ltd
• Shea Radiance
• VINK CHEMICALS GMBH & CO. KG
• Jedwards International Inc.
• IOI Loders Croklaan
• Agrobotanicals LLC;
• Lovinah Naturals
• Maison Karite Sociedad Limitada
• Shebu Industries
• Shea Therapy Ltd
Regional Analysis
Shea Butter Region dominated the market in 2021 and is also expected to witness the significant growth during the forecast period. The regional analysis in the report includes geographic condition of the market a revenue as well as in depth research into the business network structure, opportunities and news updates. It also guides investors to plan the market strategies which are suitable and applicable in specific regions.
Key Questions answered in the Shea Butter Market Report are:
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Key offerings:
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impactstudies.
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Mar 04, 2023
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