Global Shea Butter market revenue is estimated to be $XX Billion in 2019 and shall grow with a CAGR of XX.X% during the forecast period of 2019 to 2026.
Shea butter is extracted from the nuts of the shea tree. It is a type of fat. The cultivation is mostly found in Western Africa. It is characterized by off-white color. The shea seed bears two kernels and the process involves heating. It finds applications in food and cosmetics.
Analysis by Product
Raw and unrefined shea butter is set for an impressive increase in market capitalization. This is on account of large-scale demand from customers for cosmetics with nourishing capabilities. It contains valuable Vitamins in its composition such as Vitamin A & E. The buying power of customers is on the rise and today’s fast-paced life has increased the importance of skin-care products.
Analysis by Application
Applications in the pharmaceutical industry will be on a sharp rise given the high acceptance of shea butter by consumers. Its benefits include anti-aging properties, protection in hot climates, and moisturizing capabilities. The foreseeable period will also see segment growth in cosmetics. Most customers in Japan are elderly. The revenue in this region is ready to climb because of their affinity for Shea Butter.
The lion’s share in the market is held by the food industry. Consumers demand for bakery products such as cakes and chocolates is likely to increase. This will drive the consumption of shea butter as well. It is a preferred ingredient owing to its flavor, texture and visual appeal on these foods. A section of consumers are also eyeing low-fat options. Shea butter’s intrinsic low-fat property makes it the ingredient of choice.
Analysis by Region
The Asia-Pacific region is the place to be for shea butter companies. It is expected to perform with double-digit growth over the projected time. China, India and South Korea are leading the way in large demand. The consumers in these sections are enquiring about superior healthcare solutions and shea butter is a major component in it.
Not too far away, in the middle east, the production of shea butter is on the rise. This is because of the plantation in these regions in the African belt. The buyers of shea butter in the developed countries are a great source of income for the supply industry in Western Africa.
The government policy initiatives in the European Union will propel the use of Shea butter massively. Europeans are already cognizant of the health benefits of the product and pay a premium for them. This is one of the most lucrative markets from a revenue perspective.
Analysis by Market
There is a lot of crowd in the global shea butter marketplace. It is a niche product. Some important players include Cornelius Group plc, International Oils & Fats Limited & Croda International. Large scale equity infusion into new Shea Butter processing factories is being planned in the Western African belt. Pumping in of owner’s equity is a clear sign of the promise that is envisaged by most of the large companies in this arena. Moreover, industry collaborations are on the rise to leverage one another’s strengths to reap the benefits of a growing industry.
● Market Revenue Estimation and Forecast (2019 – 2026)
● Market Production Estimation and Forecast (2019 – 2026)
● Market Sales/Consumption Volume Estimation and Forecast (2019 – 2026)
● Breakdown of Revenue by Segments (2019 – 2026)
● Breakdown of Production by Segments (2019 – 2026)
● Breakdown of Sales Volume by Segments (2019 – 2026)
● Gross Margin and Profitability Analysis of Companies
● Business Trend and Expansion Analysis
● Import and Export Analysis
● Regional Analysis and Market Data Breakdown
By Product Outlook ($Revenue and Unit Sales, 2019-2026)
• Raw and Unrefined
By Application Outlook ($Revenue and Unit Sales, 2019-2026)
• Food and beverage
• Personal Care & Cosmetics
By Regional Outlook ($Revenue and Unit Sales, 2019-2026)
• South Korea
• Burkina Faso
• Saudi Arabia
• Savanna Shea Industries,
• Croda International,
• Bunge Loders Croklaan,
• OLVEA GROUP,
• AAK AB,
• Cornelius Group plc,
• Ghana Nuts Co. Ltd,
• International Oils & Fats Limited,
• Akoma Cooperative Multipurpose Society,
• Cargill Inc,
• SHEBU Industries Limited,
• Baraka Shea Butter