Shea Butter Market to reach USD $$million by 2027.Global Shea Butter Market is valued approximately at USD $$Million in 2020 and is anticipated to grow with a healthy growth rate of more than $$% over the forecast period 2021-2027.
Shea butter is an edible vegetable oil or fat, extracted from sun-dried kernels of the African shea tree. Shea butter finds its use in health products, cosmetics and chocolate and confectionery industry. High demand from personal care and cosmetics industry, growth in confectionery industry and new product launches by market players are fueling demand for shea butter. According to Statista, worldwide confectionery market size reached USD 208.15 billion in 2020 from USD 178.11 billion in 2019.
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Additionally, in January 2021, Hand In Hand entered personal care beauty space by launching shea butter hand cream. Furthermore, growing research and development activity by cosmetic manufacturers to introduce innovative products and increasing use of shea butter in place of expensive cocoa butter in confectionery industry are expected to inject growth in near future. However, availability of number of alternative products and high cost of shea butter products may hinder the growth in coming years.
Rest of the World is dominating the world market in terms of revenue among Asia Pacific, North America, Europe, Latin America, and Rest of the World, owing to high production of shea butter and high availability of cheap labor. Whereas, Europe is expected to show significant growth rate during forecast period 2021-2027 due to increasing demand for personal care and cosmetics products.
Major market player included in this report are:
Ghana Nuts Company Limited
Croda International Plc
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study.
Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
Personal Care & Cosmetics
Food & Beverage
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Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.
Target Audience of the Global Shea Butter Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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Trends like development of new supermarkets and hypermarkets are forecast to create favorable opportunities. Moreover, rising disposable income and growing demand for advanced one-stop solutions would further expand the industrial growth in the coming years.
The value of FMCG sector is forecast to reach US$ 18.5 billion by the end of the year 2028, and is anticipated to grow at a CAGR of 4.9% in the forecast period. Of all the regions, North America is dominating the entire FMCG sector and is forecast to hold the largest market share during the study period. North America FMCG sector is growing significantly owing to change in lifestyles, growing number of supermarkets, and rising urban population. Moreover, the Asia-Pacific is forecast to record the CAGR of 7.8%, because of changing lifestyles, increasing urbanization, and rising employment rate. Apart from that, increasing focus of companies and organizations towards R&D and new product launches would further boost the popularity of FMCG domain and escalate the regional growth of the market.
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