The global shea butter market is set to witness growth at a CAGR of 7.% and top a valuation of US$ 5.58 Billion by 2033, finds Future Market Insights (FMI). Increasing consumption and binge eating of chocolates and confectionery products is encouraging manufacturers to develop alternative solution such as shea butter as an ingredient, which are nutritional for human health.
It is now widely accepted that eating food products containing trans fatty acids negatively affects cardiovascular health. This has led to volunteer campaigns and governmental actions in many nations, including the U.K., to restrict consumption of food products containing such substances.
| Butter Market Size Value in 2022 | US$ 2.75 Billion | |
| Shea Butter Market Forecast Value in 2032 | US$ 5.58 Billion | |
| Shea Butter Market Growth Rate (2022 to 2032) | ~7.7% CAGR | |
| Forecast Period | 2022-2032 | |
| Collective Value Share: Top 3 Countries (2021A) | 42.4 | % |
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Key players in the market, including Cargill, are launching shea butter as a substitute for cocoa butter in the food business in an effort to profit from this trend. Shea butter demand has increased as a result of a number of factors associated to products made with cocoa butter, including supply instability, high price, variable quality, and other variables.
Because shea butter is widely used in a variety of confectionary products, including snacks, sweets and jelly, toffees, chocolate, and others, the demand for it is rising as a result of this factor.
The notion of premiumization, which includes a superior mouthfeel and a far-fetched quality of such end products, will lead to stable expansion in the worldwide shea butter market over the forecast period.
Key Takeaways from Market Study
- The shea butter market is expected to reach a valuation of US$ 2.6 Bn in 2022.
- Sales of shea butter market is expected to increase at 7.7% CAGR between 2022 and 2032.
- Global shea butter demand is projected to grow year-on-year (Y-o-Y) growth of 8.2% in 2022.
- The shea butter market is growing with a notable boost towards the production to reach USD 5.5 Bn by 2032.
- In terms of nature, the organic segment is anticipated to dominate the market over the forecast period
- In terms of grade, the unrefined form of shea butter is expected to witness significant growth over the assessment period.
“Growing demand for shea butter as a healthy alternative ingredient to trans-fat products, is increasing with soaring market share. Due to higher availability of raw materials and reduced environment impact as a clean label product, key players are introducing raw shea butter form in cosmetic industry to gain revenue,” says a Future Market Insights analyst.
Competitive Landscape
Key manufacturers of shea butter are focusing on sustainable product developments and also looking for investing in state-of-the-art processing facilities to further help the industry growth.
- On September 8, 2020, Bunge Loders Croklaan (BLC) made an official announcement on establishing a state-of-the-art processing facility of shea butter in Tema, Ghana along with the campaign ‘Where Life Grows’ to celebrate efforts of the company to build a sustainable and resilient supply chain of shea butter in Africa.
- On March 11, 2021, Fuji Oil Holdings, Inc. had launched a shea sustainability program known as ‘Tebma-Kandu’ in north Ghana to facilitate women empowerment including continuous improvement activities about reforestation and local value creation.
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Shea Butter Market by Category
By Nature:
- Organic
- Conventional
By Grade:
- Grade A (raw or unrefined)
- Grade B (refined)
- Grade C (highly refined)
- Grade D (lowest uncontaminated grade)
- Grade E (with contaminants)
By Application:
- Food Processing
- Cosmetics & Personal Care
- Pharmaceuticals Industry
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
Frequently Asked Questions
- How much worth is the shea butter industry?
- At what CAGR is the market poised to expand through 2032?
- How has the performance of shea butter been over the past half-decade?
- What will be the market for shea butter worth in 2032?
- Who are the key players operating in the market?
- Which are the top countries driving the demand in shea butter market?
About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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