December 25, 2018: Adroit Market Research published, “Global Shea Butter Market Size 2017 By Type (Raw & Unrefined, Refined), By Application (Food, Cosmetic, and Medical), By Region and Forecast 2018 to 2025”. The study covers the global shea butter market value and volume for a period ranging between 2015 to 2025, where 2015 to 2017 imply the actual annual consumption with an annual forecast between 2018 and 2025. The global shea butter market analysis also includes qualitative insights such as restraints and drivers. The global shea butter market in the USA has been analyzed in detail.
By 2025, the global shea butter market size is estimated to reach USD 1.74 billion. Growing adoption in food, personal care & cosmetics, and medical industry is expected to drive the global shea butter market during the projected period. Over the past few years, the global chocolate consumption has increased significantly which in turn has created numerous opportunities for shea butter. Full of nutrients such as vitamin A, shea butter helps in treating wrinkles, blemishes, dermatitis, eczema, stretch marks, and burns.
Increasing consumption of shea butter as an ingredient in chocolate confectionery is expected to rise in demand over the coming years. 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.
Shifting consumer trends towards health and hygiene has encouraged manufacturers to develop natural cosmetic products. This, in turn, is expected to increase the demand for shea butter over the projected period. 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 global shea butter market during the projected period.
In 2017, Europe shea butter market accounted for more than 35% of overall market share, both volume, and revenue. Growing chocolate production and consumption in this region is expected to provide a potential opportunity for shea butter over the coming years. Moreover, approval from government bodies for the use of shea butter is expected to increase its consumption in the coming years. For instance, the European Union has approved the use of shea in chocolate production for the formulation of non-cocoa butter fats. Moreover, U.S. Food and Drug Administration (FDA) also considers shea butter to be used as edible.
The Savannah Fruits Company, Bunge Loders Croklaan, Ghana Nuts Company Ltd, Akoma Cooperative Multipurpose Society, SHEBU Industries Limited, and Baraka Shea Butter are the leading players present within the global shea butter market. These companies are focusing on expanding their business by making a partnership with cosmetics & personal care manufacturers. For instance, FLASH BEAUTÉ INC. has a partnership with shea butter producers in Burkina Faso to receive quality raw materials.
Personal care products manufacturers are adopting sustainable sourcing strategy with local communities in order to receive raw materials. For instance, a flagship project Solidarity Sourcing was developed by L’Oreal with Olvea, a French company, specialized in production and packaging of plant-based butter and Swedish company AAK. In 2012, more than 50% of L’Oreal’s shea butter came from this solidarity branch.
Key segments of the global shea butter market
Type Overview, 2015-2025 (Kilo Tons) (USD Million)
- Raw and 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