The global shea butter market is poised for substantial growth, with a projected CAGR of 7% expected to drive its value to $5.58 billion by 2033, according to Future Market Insights (FMI). The surge in consumption of chocolates and confectionery products, combined with increased awareness of the health risks associated with trans fatty acids, has led manufacturers to explore nutritional alternatives like shea butter. This versatile ingredient is gaining popularity for its potential to enhance human health while catering to the indulgent tastes of consumers. Public campaigns and government efforts, particularly in the UK, are actively working to limit the consumption of products containing trans fatty acids for improved cardiovascular health.
The global shea butter market is set to witness growth at a CAGR of 7.% and top a valuation of US$ 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 recognised that eating food products containing trans fatty acids is bad for cardiovascular health. This has led to public campaigns and governmental attempts in numerous nations, notably the U.K., to restrict consumption of food products containing such substances.
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| 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 | % |
Major market players, most notably 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 volatility, high pricing, variable quality, and other variables.
Shea butter is becoming more and more popular as a result of its widespread use in a range of confectionary products, including nibbles, sweets and jelly, toffees, chocolate, and others.
The idea of premiumization, which includes a superior mouthfeel and an extraordinary quality of such final products, will cause the shea butter market to rise steadily over the course of the projected 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, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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