Shea Butter Market Analysis, Trends and Dynamic Demand by Forecast 2016 to 2030

The global Shea Butter Market reached US$ 77.80 Million at the end of 2022, with the global market estimated to register at a CAGR of 12.80% to reach US$ 203.92 Million over the forecast period. The shea fruit is a non-timber forest product that is indigenous to the ecologies of Western Africa's semi-arid regions. The fat from the nuts/kernels of the shea fruit, also known as Vitellaria paradoxa, is called shea butter (Butyrospermum parkii). In a variety of industries, including food processing, cosmetics, pharmaceuticals, and retail, shea butter is used as a substitute for vegetable oil.

The Shea Butter Market - Growth Factors
The rising demand for cocoa butter substitutes in chocolate and confectioneries, rising consumption of chocolate and bakery goods, rise in product premiumization in the food and beverage industry, and soaring shea butter consumption by cosmetics and personal care product manufacturers are the main factors fuelling the shea butter market's growth. In order to provide the products shine, texture, and snap, cocoa butter is employed as a fat source in chocolates and confectioneries. As consumer demand for chocolate and other confections rises, so does the demand for cocoa butter. However, supply issues for cocoa butter are occurring as a result of decreased cocoa yields in the key producing nations. As a result, manufacturers of chocolates and confectioneries must choose other substitutes or counterparts to cocoa butter due to the fast-rising price of this ingredient. Manufacturers are increasingly turning to shea butter as a possible substitution for the more expensive cocoa butter used in chocolates and confections.

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The Global Shea Butter Market – Segmentation
The Global Shea Butter Market fragrance concentrates market has been sub-classified into grade, nature, end-use.

On the basis of grade, the Global shea butter Market is bifurcated into:
• Grade A (Unrefined)
• Grade B (refined)
• Grade C (highly refined)
• others

On the basis of nature, the market is segmented into:
• organic
• conventional
• others

On the basis of end-user, the market segmented into:
• cosmetics and personal care- lotions and creams, lip balm and sticks, sun care products, soaps and toiletries, cleaners, shampoos and conditioners.
• food processing- bakery, chocolate and confectioneries, ice-cream.
• pharmaceuticals
• retail
• Others

The Shea Butter Market – Market Trends
• The demand is expected to increase as shea butter becomes increasingly used as a replacement for edible vegetable oils and fat in a variety of food applications.
• This is thus anticipated to fuel market expansion over the course of the forecast period. Due to the high pricing of cocoa due to the restricted supply, it is widely used as a substitute for cocoa butter by bakeries and confectionery manufacturers.
• In the upcoming years, it is anticipated that this aspect will continue to fuel market expansion. In addition, the personal care and cosmetics industry's strong product demand is predicted to support market expansion.
• Shea butter contains unsaponifiable such sterols and phenols, as well as important fatty acids with moisturising and conditioning qualities like stearic and oleic acids.
The Shea Butter Market –Regional Analysis
The Shea Butter market was dominated by Europe, due to growing customer appetite for baked products and confectionary as well as the existence of end user companies in the area, the shea butter market.

The Shea Butter Market - Key Players
Key players in the Shea Butter market include Olvea Group, Sophim S.A., Cargill Inc., Suru Chemicals, Ghana Nuts Company Ltd., Croda International Plc, Agrobotanicals LLC, Clariant AG, and AAK AB, and others.

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