Shea Butter Market Size, Share & Trends Report

Shea Butter Market Size, Share & Trends Analysis Report By Application (Personal Care & Cosmetics, Food & Beverage), By Region (APAC, Europe, North America, Central & South America, MEA), And Segment Forecasts, 2019 - 2025

  • Published Date: Aug, 2019
  • Base Year for Estimate: 2018
  • Report ID: GVR-3-68038-490-1
  • Format: Electronic (PDF)
  • Historical Data: 2015 - 2017
  • Number of Pages: 80

Industry Insights

The global shea butter market size was valued at USD 1.12 billion in 2018 and is projected to expand at a CAGR of 6.6% over the forecast period. Shea butter is obtained from the nuts of Shea tree, which contain magnesium, potassium, and protein. Increasing demand for coco butter alternative and growing consumption of chocolate and bakery products are expected to drive the market. In addition, widespread usage of shea butter as a substitute for edible vegetable oils and fat in various food applications is likely to spur the demand.

Bakery and confectionery manufacturers widely use it as an alternative for cocoa butter due to high prices of cocoa as a result of limited supply. Moreover, high product demand in personal care & cosmetics industry will also boost the market growth. Shea butter contains essential fatty acids, such as stearic and oleic acids, and unsaponifiables, such as sterols and phenols, which have moisturizing and conditioning properties.

U.S. Shea butter market

It has a better absorption rate than coco butter and is suitable for all skin types, which increase its demand in personal care & cosmetics industry as well. In addition, extensive R&D by cosmetics manufacturers to introduce innovative and more effective shea butter-based products will drive the demand in this sector. Thus, the personal care & cosmetics application is expected to be the largest segment over the forecast period.

However, food and beverage is projected to be the fastest-growing application segment from 2019 to 2025. Based on region, Middle East and Africa is the leading market due to high production as a result of abundant raw material supply and availability of cheap labor. However, easy availability of cheaper substitutes, such as mango butter, shea oil, avocado butter, and cupuacu butter, may act as a restraining factor for the overall market growth.

Application Insights

On the basis of application, the shea butter market has been segmented into personal care & cosmetics, food & beverage, and others. Personal care & cosmetics is the largest segment. This growth is attributed to the high product demand in this sector. Moreover, cosmetics companies are investing more in R&D to introduce new and more effective products containing shea butter. This is also likely to have a positive impact on the segment growth. Increasing demand for anti-aging and skin conditioning products will boost the segment growth further.

Food and beverages is the fastest-growing application segment. Increasing demand for bakery and confectionery products is the key factor fueling the segment development. Moreover, demand for cocoa butter alternatives due to high costs of cocoa will also boost the segment growth. Shea butter is used as a raw material in the production of shortening and margarine for several bakery products like puff pastry. It is stable at room temperature and eliminates the process of hydrogenation, preventing the generation of trans unsaturated fatty acids, acting as a healthy alternative for margarine production.

Regional Insights

Middle East and Africa was the largest market in the year 2018 and will expand further at a steady CAGR from 2019 to 2025 owing to rapid urbanization and increasing disposable income levels. This growth can be attributed to the high production of shea butter as a result of abundant raw material supply and availability of cheap labor in the region.

Global shea butter market

Led by U.K., Europe is estimated to be the fastest-growing regional market at a CAGR of 7.5% over the forecast years. This is mainly due to increasing demand for personal care and cosmetics products. Europe is the leading region in the global cosmetics industry. In addition, high consumption of chocolate and bakery products in the region will fuel the product demand.

Shea Butter Market Share Insights

Some of the key companies in this market are BASF SE; Olvea Group; Sophim S.A.;Cargill, Inc.; Suru Chemicals; Ghana Nuts Company Ltd.; Croda International Plc; Agrobotanicals, LLC; Clariant AG; and AAK AB. These companies have undertaken several competitive strategies, such as increasing production capacities, product and technological innovation, and establishing tie-ups with online e-commerce firms, to boost their sales.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2015 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Million and CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa

Country scope

U.S., U.K., Germany, China, India, South Africa, and Nigeria

Report coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Grand View Research has segmented the global shea butter market report on the basis of application and region:

  • Application Outlook (Revenue, USD Million, 2015 - 2025)

    • Personal Care & Cosmetics

    • Food & Beverage

    • Others

  • Regional Outlook (Revenue, USD Million, 2015 - 2025)

    • North America

      • U.S.

    • Europe

      • U.K.

      • Germany

    • Asia Pacific

      • India

      • China

    • Central & South America

    • Middle East & Africa

      • South Africa

      • Nigeria

Key questions answered by the report
Request for Customization

Choose License Type

Single User - $2,450
Multi User (2-5) - $5,450
Enterprise Access - $9,450

Buy Chapters or Sections

Avail customized purchase options to meet your exact research needs:

  • Buy sections of this report
  • Buy country level reports
  • Request for historical data
  • Request discounts available for Start-Ups & Universities

Why Choose Us

  • Research support

    24/5 Research support

    Get your queries resolved from an industry expert.

  • Custom research service

    Custom research service

    Design an exclusive study to serve your research needs.

  • Quality assurance

    Quality assurance

    A testimonial for service in the form of BBB "A" Accreditation.

  • BBB Rating dandb
  • Information security

    Information security

    Your personal and confidential information is safe and secure.

  • grand view research PCI DSS complaint grand view research paypal verified