As per FMI’s analysis, the global kokum butter market is expected to secure US$ 692.6 million in 2023 and reach US$ 1,236.2 million by 2033. The market is estimated to secure a CAGR of 6.3% during the forecast period. Growing demand in the food and beverage and pharmaceuticals industry is expected to play a key role in driving the market growth during the forecast period.
There is an incredible diversity of plant species in the Indian Western Ghats region, each with a unique narrative to tell. Kokum is one such plant; it’s a tree that has captured people’s attention with its dense blanket of green foliage and its fragile, reddish-tinged changing leaves. Its ubiquity as an ingredient in food recipes and its medicinal qualities add to its allure. The Garcinia Indica (also known as kokum) tree, which grows naturally in the tropical regions of India, yields kokum butter by the extraction and processing of its seeds. This butter has gained popularity because to its many advantageous qualities and versatility in a variety of industries, including food, cosmetics, and pharmaceuticals.
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Factors Supporting Global Kokum Butter Market Growth
- Rise in demand by consumers for natural and organically harvested products.
- The diverse range of health benefits of kokum butter attracts consumers. It acts as a rich source of vitamin E, prevents premature aging, is a good source of omega-6 fatty acids and reduces inflammation in skin tissues.
- The expansion of the cosmetic and skincare industry offers an opportunity for the kokum butter industry players to bring in products such as lip balms, moisturizers, eye creams and so on, using kokum butter and its anti-inflammatory properties.
- The presence of high disposal income leading to a greater purchasing power of consumers of premium skincare products is another factor driving market growth.
- Kokum butter’s high triglyceride concentration, low melting point, and solid fat content make it an excellent replacement for cocoa butter in the production of chocolate.
Key Market Takeaways
- The kokum butter industry expanded at a CAGR of 6.3% from 2023 to 2033.
- By 2033, China’s kokum butter industry is projected to expand, with a CAGR of 10.2%.
- In 2022, the United States dominated the kokum butter industry with a share of 22.6%.
- In 2022, Germany expanded significantly in the kokum butter industry business, with a share of 6.2%.
- India is expected to emerge as a dominant region in the kokum butter industry in 2023, securing a substantial 6.9% market CAGR.
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Competitive Landscape
Brands that produce and market kokum butter are certain to gain from a shift towards digital marketing, such as social media channels, commercials, and other comparable marketing techniques. Using the client base acquired from influencers’ social media followers is another way to alert consumers to the simplicity and other benefits of kokum butter over regular butter.
Some of the prominent and established market players are
- International Cosmetic Science Centre
- Manorama Group
- Keynote International
- Villa Germania Alimentos S.A.
- Ausmetics Daily Chemicals
- Cargill
- Mewah Group
- VINK Chemicals
- Musim Mas
- Akoma Cooperative
Key Segments Profiled in the Kokum Butter Industry Survey
Kokum Butter Market by Application:
- Creams
- Skin Lotions
- Balms
- Shaving Creams
- Conditioners
- Lipsticks
- Body Butters
- Moisturizing Creams
- Hair Care Products
- Soaps
- Toiletries
- Confectionery
- Bakery Products
Kokum Butter Market by End Use:
- Pharmaceutical Industry
- Cosmetic Industry
- Other End Uses
Kokum Butter Market by Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
Exploring the Versatility of Kokum Butter: From Cosmetics to Confectionery, a Global Market Analysis by End Use and Region :
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Recent Developments
- Keynote International, a global export house for gourmet collections, is committed to democratizing good taste and wholesome flavors. It specializes in a premium range of products such as white truffle honey, Indian borage honey, Ajwain honey and so on.
- Almunajem Foods Company in May 2023, to discuss and address the inquiries of analysts and investors held an earnings conference call with the investors to discuss the fiscal year 2022 and also the results of the 1st quarter of 2023.
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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