The global shea butter market size was valued at USD 725.7 million in 2018. The global shea butter market is growing, due to its adoption in food, personal care & cosmetics, and medical industry across the world. In addition, shea butter has broad usage as a substitute for edible vegetable oils, fat and cocoa butter in various food applications are factors that can push the market over the next few years.
Shea butter is a fat extracted from the nut of the Vitellaria paradoxa, an African shea tree. Shea butter contain full of nutrients such as vitamin A, vitamin E and cinnamic acid which are good and useful for eyes and skin and also prevent from skin sunburns. Recognition by cosmetics industry by virtue of its therapeutic benefits such as anti-inflammatory, ultra-violet light protection, anti-eczema, regenerative, moisturizing, and anti-wrinkle properties is expected to drive the growth of the global shea butter market over the forecast period.
At a compound annual growth rate of 12.8%, the size of the worldwide Shea Butter market is projected to reach USD 203.92 million in 2029.
Cosmetics sector, bakery and confectionery manufacturers companies are investing more in innovations i.e. R&D to introduce new and more effective products containing shea butter which has a positive impact in shea butter market. Shea butter engrosses the largest share in the market due to rising consumer inclination towards natural products and consumer awareness which will attribute towards the growth of this market. Improved heat stability, longer shelf life, nice flavor, and texture properties have increased shea butter’s market concentration in the food industry over the past few years.
Furthermore, the demand for personal care & cosmetics, chocolates or bakery items are increasing due to rising population and rapid urbanization which directly impacts the demand for shea butter. However, easy availability of cheaper alternatives, such as shea oil, avocado butter, cupuacu butter, and mango butter and lack of minimum quality standard and poor level of industry organization are anticipated to dampen the growth of global shea butter market. The new government policies are expected to drive the market over the forecast period.
Shea butter are widely adopted due to the presence of different types of shea butter including raw & unrefined shea butter and refined shea butter among others. Division of the global market into five major continents show that Europe is at the leading position with the highest CAGR in 2018 making up 35.73% of the total market share. The penetration of shea butter in the region is moving towards its peak, thereby, implying maturity with more scope for growth. In order to receive high-quality shea nuts, cosmetic and personal care product manufacturers are entering into partnerships with African shea butter producers.
Shea Butter Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2029||USD 203.92 million|
|Growth Rate||CAGR of 12.8 % during 2021-2029|
|Segment Covered||Grade, Nature, Species, Certification, End User, Distribution Channel, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Shea Butter H.Q. (Australia), Aloe Plus Lanzarote S.L (Spain), Lily of the Desert (U.S.), NOW foods. (U.S.), Forever Living.com, L.L.C. (U.S.), Real Aloe Solutions Inc. (U.S.), Patanjali Ayurved (India), Herbalife International of America, Inc. (U.S.), Sarvliving (India), Green Leaf Naturals (U.S.), Warren Laboratories LLC (U.S.), Lakewood Inc (U.S.), The Bountiful Company (U.S., L.R. Health & Beauty (Germany)|
Key segments of the global shea butter market
Type Overview, 2015-2025 (Kilo Tons) (USD Million)
- Raw & unrefined shea butter
- Refined shea butter
Application Overview, 2015-2025 (Kilo Tons) (USD Million)
Regional Overview, 2015-2025 (Kilo Tons) (USD Million)
- Middle East & Africa
- Western Africa
Reasons for the study
- The study assesses the dynamics and movement of the global shea butter market across various geographies
- While studying shea butter market, we observed that the demand for food industry was tremendous in developed countries
- The market is fragmented in nature. The companies, as a strategic step are engaging with cosmetic products manufacturers to expand their sales volume.
What does the report include?
- The global shea butter market study provides an in-depth analysis of the various applications
- The study also involves in-depth insights of shea butter production process and consumption across various geographies
- Drivers, restraints and opportunities for the market have been covered in the study
- The global shea butter market report covers qualitative and quantitative analysis of the market segmented on the basis of type and application
- The study includes detailed profiles of key participants of the market based on product offerings, geographical presence, financial performance and recent initiative
Who should buy this report?
- The global shea butter market study meets the needs for various parties including government and non-government associations, consultants , analysts, researchers and academicians
- The report is also suitable for companies that are currently operating in the market as well as those looking to integrate their operations from either raw material manufacturing or downstream products.
Moreover, the study can also help new entrants take informed decisions about venturing into the market.
Frequently Asked Questions (FAQ) :
The global shea butter market has shown a remarkable growth in the recent times. Rising chocolate and bakery product consumption is expected to increase the market concentration of shea butter as a cocoa butter equivalent. Shea butter has a better absorption rate, low fat content and better healing properties than cocoa and palm oil. Shea butter is used as shea based organic fertilizers in agriculture sector because it contains plants growth regulators and biological control agents needed for plants growth. The use of shea butter in various sectors like food & beverages, cosmetics, and agriculture is having substantial growth, the market for Shea butter will also bolster in the future.
Shea butter is a fat extracted from shea tree which is used in various skins and hair related products and possess various healing properties. Anti-diarrheal properties, lower cholesterol, and reduced arthritis properties are expected to raise shea butter adoption in the food and pharmaceutical industry. The market is estimated to raise its position due to the newer policies and regulations introduced and implemented by various governments across the world. Increasing demand for skin conditioning and anti-aging products will drive the segment growth over the next few years. These industries keep on developing and anticipates the demand for shea butter in future.
The shea butter market is determined by the availability of various alternative products with a low price is anticipated to hamper the growth of global shea butter market. New developments and innovation in cosmetics and food industries are the drivers anticipated to offer growth opportunities to the global shea butter market.
The shea butter market has been segmented based on type, application and regional. Based on type, the market has been classified into raw & unrefined shea butter and refined shea butter. Refined shea butter is leading the shea butter market on the basis of type and is expected to remain largest segment over the forecast period because of its increasing adoption in cosmetics products and commercially, refined shea butter reduces antioxidant content, color, and vitamins from raw materials in order to make it usable.
The shea butter market has been segmented on the basis of application, the market is classified into food, cosmetic, and medical. In food industry shea better has largest application and expected to remain largest due to the usage of shea butter as a substitute for edible vegetables oils & fat and cocoa butter in making bakery products. Cosmetics industry is fastest growing based on application of shea butter because shea butter contains vitamin A, Vitamin C and cinnamic acid which have the property to prevent the skin from ultraviolet rays and also has skin healing, hair healing and lip healing property.
Based on regional segmentation, the market for shea butter are in North America, Europe, Asia Pacific, and Middle East and Africa. Europe region is having the largest market share in global shea butter market due to government policies where, they got approval to use shea butter in edible products such as chocolates from Europe’s EC and U.S.FDA which is expected to bolster the shea butter market in this region.
Major companies profiled in the global Shea butter market report are Bunge Loders Croklaan, Savannah Fruits Company, Ghana Nuts Company Ltd, Akoma Cooperative Multipurpose Society, SHEBU Industries Limited, and Baraka Shea Butter among others.