The global shea butter market is anticipated to gain appreciable momentum between 2021 and 2027. Widespread product application across cosmetics, pharmaceuticals, medicines, and the food industry will foster the demand for shea butter during the projected timeframe. Lately, the popularity dairy alternatives or plant-based products among the vegan population has increased more than ever. Rising demand for alternative dairy products coupled with several therapeutic uses of shea butter will push the market outlook in the forthcoming years.
Proliferating trends pertaining to the comfort and luxury offered by body butters will have an impact on the demand for shea butter, in tandem with the increasing requirement for organic skin and hair care products. That being said, the rapid expansion of the makeup industry driven by revving modernization and inflating disposable incomes, will positively influence the industry growth in the future.
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Pure shea butter acts as an excellent body moisturizer, prevents dehydration, offers sun protection, and is known for its anti-aging benefits, making it an ideal ingredient in cosmetics and other skin and hair care products. The anti-inflammatory properties of shea butter are effective against eczema and other skin diseases like psoriasis and neurodermatitis. Clinical studies claim the nasal application of shea butter is found more effective against cold than conventional nasal drops.
It is also used as a substitute for cocoa butter in baking fats in the food industry. Research claims that a diet with shea butter can effectively reduce cholesterol levels in healthy adults and help prevent coronary artery disease. Escalating product application in soap making and construction industry to protect the house walls against rain will augment the shea butter market forecast in the times to come.
According to Global Market Insights Inc., the shea butter industry is expected to hold an approximate valuation of $3 Bn by 2027.
The report features a detailed analysis of crucial segments of the shea butter market based on product, application, and region.
By Product
- Raw and Unrefined Shea Butter
- Refined Shea Butter
By Application
- Food & Beverage
- Personal Care & Cosmetics
- Pharmaceutical
By Region
- Asia Pacific
- North America
- Europe
- Latin America
- MEA
Some of the promising players of the shea butter market include International Oils & Fats Limited, BASF SE, AAK AB, OLVEA, Croda International, Bunge Limited, Akoma International Ltd, The Savannah Fruits Company, Agrobotanicals LLC, Ghana Nuts Company Limited, Cargill Incorporated, SOPHIM, and Clariant.
Increasing inclination towards aesthetic appeal will bolster the personal care and cosmetics industry
Shea butter offers endless skin benefits and is widely used in several skin and hair care products like lotions, hair balms, soaps, creams, etc. It binds moisture to the epidermis, protects the skin from weather influences, and helps in skin generation. The presence of natural antioxidants in shea butter like vitamin E, beta-carotene, vitamin A, etc., protects the skin from free radicals responsible for aging.
New product innovations in the personal care industry are bound to increase the demand for shea butter in the years ahead. Recently, in January 2022, Osea launched Osea Undaria Algae Body Butter blended with the goodness of undaria seaweed, shea butter, and ceramides that offer advanced skin protection.
Raw and Unrefined Shea Butter will project significant growth trends
The monosaturated fats present in raw shea butter offer exceptional health benefits. According to the American Heart Association, the consumption of unrefined shea butter supports the development and maintenance of cells in the body and can reduce LDL cholesterol levels. It is widely used in the food industry as an alternative to cocoa butter due to its health benefits and rising popularity among the vegan population. Escalating use of the product in high-end cosmetics and organic skincare in addition to the food sector will push the market growth over the analysis period.
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