According to a new market report published by Lucintel, the future of the shea butter market looks promising with opportunities in the cosmetics and personal care, food and beverage, pharmaceutical, and other industries. The global shea butter market is expected to grow with a CAGR of 4%-5% from 2020 to 2025. The major drivers for this market are growing consumer awareness regarding the benefits of natural products like shea butter and its increasing demand from the cosmetics and personal care industries.
Shea butter is a fatty triglyceride extracted from the nut of vitellaria paradoxa plant and is mainly used as a moisturizer in personal care products. In this market, raw and unrefined shea butter and refined shea butter are the major product types. Lucintel forecasts that raw and unrefined shea butter will remain the largest segment over the forecast period due to the features like presence of vitamin A and vitamin E and distinct odor making it imperative for maintaining skin’s elasticity and suppleness.
Within this market, the cosmetics and personal care industry will remain the largest segment by application over the forecast period due to growing consumer awareness regarding their appearances and increasing demand for anti-aging and skin conditioning products.
North America will remain the largest region over the forecast period due to high rate of adoption of shea butter products among various end users, and rising demand for cosmetic products that contain natural ingredients such as shea butter.
BASF, Olvea, Sophim, Cargill, Suru Chemicals, Ghana Nuts, Croda, Agrobotanicals, Clariant, and AAK AB are among the major suppliers in the global shea butter market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global shea butter market by application, product type, species, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global Shea Butter Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global shea butter market by application, product type, species, and region as follows:
By Application [Value ($ Million) shipment analysis for 2014 – 2025]:
Cosmetic and Personal Care
Food and Beverage
Pharmaceutical
Others
By Product Type [Value ($ Million) shipment analysis for 2014 – 2025]:
Raw and Unrefined Shea Butter
Refined Shea Butter
By Species [Value ($ Million) shipment analysis for 2014 – 2025]:
Vitellaria Paradoxa
Vitellaria Nilotica
By Region [Value ($ Million) shipment analysis for 2014 – 2025]:
United States
Canada
Mexico
Italy
United Kingdom
German
France
China
India
South Korea
Japan
A more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
About Lucintel
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