Global Shea Butter Market was valued at US$ 1.7 Bn in 2019 and is expected to reach US$ 2.67 Bn by 2026, at a CAGR of 5.81% during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Cosmetics & personal care industry is expected to surge the market growth during the forecast period owing to growing usage of Shea butter in this industry. Shea butter has cinnamic acid, which saves skin from the ultraviolet rays is boosting the market growth during the forecast period. In addition, it has anti-aging properties and helps to soften skin and regeneration of tissue cell are also expected to drive the market in the cosmetic & personal care industry.
Shea butter is used in various type skins, hair, and food products and has several healing properties. Major driving factors of the market are various governments are restricting the usage of Shea butter in products such as chocolate, increasing disposable incomes, and growing concerns regarding fitness. Rising consumer preference towards the Shea butter products is propelling the market growth. Shea butter products have A & E vitamins, which are expected to fuel the market growth owing to rising health awareness among consumers across the globe. The medical industry is boosting the market growth owing to rising usage of Shea butter in various treatments as it contains cinnamic acid and it is very flexible. In addition, Shea butter has properties such as antioxidants, recover skin damage, and also improve health of skin & hair are boosting the market growth.
Europe is expected to hold the largest share in the market during the forecast period owing to developed economy and growing consumer awareness. Government is promoting the usage of Shea butter is another driving factor of the market. Asia Pacific is estimated to generate the highest CAGR during the forecast period owing to rising trend of fashion, which is boosting the market growth in the cosmetic & personal care industry. Rising population and changing living standards of the consumers are also expected to surge the market growth in a positive way in this region. India and China are projected to fuel the market growth during the forecast period as rising consciousness regarding health and growing western culture influence in these countries.
The report includes a detailed study of Porter’s Five Forces model to analyze the different factors affecting the growth of the market. Moreover, the study also covers a market attractiveness analysis, PESTLE analysis, Value Chain Analysis, and SWOT analysis.
Key player’s studies, analyzed, profiled and benchmarked inShea Butter Market areGhana Nuts Ltd, Maison Karite Sociedad Limitada, Adunni Ori Ltd., Timiniya Tuma Company Ltd., and Savanna Shea Industries.
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The Scope of the Report for Shea Butter Market
Global Shea Butter Market, by Type
• Raw and Unrefined Shea Butter
• Refined Shea Butter
Global Shea Butter Market, by Application
• Cosmetics & Personal Care
Global Shea Butter Market, by Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating in Global Shea Butter Market
• Ghana Nuts Ltd
• Maison Karite Sociedad Limitada
• Adunni Ori Ltd.
• Timiniya Tuma Company Ltd.
• Savanna Shea Industries
• Star Shea Ltd
• Shea Radiance
• VINK CHEMICALS GMBH & CO. KG
• Jedwards International, Inc
• IOI Loders Croklaan
• Lovinah Naturals
• Maison Karite Sociedad Limitada
• Shebu Industries
• Shea Therapy Ltd
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