With a compound annual growth rate of 6.89% over the projection period of 2023–2030, it is anticipated that the market share for shea butter will reach USD 1.87 billion by 2030.

Shea Butter Market Research Future Insights:

Shea butter, also referred to as GALAM or KARITE butter, is a fatty triglyceride that is obtained by pressing the nuts of VITELLARIA PARADOXA plants. It is primarily made of oleic and stearic acids. It is extracted using the fractionation method, and once that is finished, refinement is carried out to make it comparable to cocoa butter. Shea butters are renowned for their ability to moisturize and condition skin since they contain fatty acids like stearic and oleic acids as well as unsaponifiable like phenols and sterols. Another reason for the rapid rise in demand for it in the personal care and cosmetics sector is that it has better absorption than cocoa butter. This is one of the key drivers behind the expansion of the shea butter market. Shea butter is said to be one of the preferable alternatives to be utilized in the production of bakery and confectionery items due to the rising prices of cocoa butter which is related to its restricted supply.

The size of the shea butter market was estimated at USD 1.1 billion in 2021. From 2022 to 2030, the shea butter market industry is anticipated to increase from USD 1.17 billion to USD 1.87 billion, with a compound annual growth rate (CAGR) of 6.89%. (2022 – 2030). The primary market factors accelerating market expansion are rising use in expanding industries like cosmetics, pharmaceuticals, food & beverages, and greater application in skin treatment.

This is yet another element fueling the expansion of the shea butter business. In addition to these elements, the Shea Butter market is expected to grow due to changes in lifestyle, increased consumer knowledge of the advantages of consuming Shea butter, rising urbanization, and an increase in per capita disposable income.

Regional Analysis:

In six of the world’s major regions—North America, Asia Pacific, Africa, Europe, the Middle East, and Latin America—the shea butter industry movements are extraordinarily active. The consumer preference for baked goods and confectionery is growing, and the use of Shea butter in bakery products has been rising quickly over the past few years. Of all these regions, the European region will dominate this market. Additionally, the leading manufacturers of sweets include Ferrero Group, Nestlé SA, CHOCOLADENFABRIKEN LINDT & SPRÜNGLI AG, and PLADIS Another element contributing to the market’s pronounced expansion in this area is one’s presence there.

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This Shea Butter market is expanding as a result of the region’s growing demand for cosmetics and personal care products. Due to the substantial rise in per capita disposable income and urbanization, the Middle East and Africa will hold the second-largest market share. Due to the region’s access to inexpensive labor and an abundance of raw materials, the Asia Pacific region will likewise experience significant growth over the evaluation period.

Market Segmentation:

The market for shea butter has been divided into segments based on type, category, application, and region.

The market has been segmented into refined and unrefined/raw products. In 2021, the refined segment held the highest market share. High-quality butter that is delicately treated using raw material is refined shea butter. Mechanical extraction is used to extract it, along with some solvent use. Fragrances, additives, and colors are mechanically eliminated from refined shea butter. Healthy vitamins and fatty acids are lost in refined shea butter as opposed to unrefined shea butter.

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The market has been divided into conventional and organic segments based on the category. The organic category is anticipated to experience the fastest CAGR during the projected period, whereas the conventional segment held a greater market share in 2021.

The market has been divided into three categories based on application: food and beverage, personal care, and pharmaceuticals. The segment expected to expand the fastest over the study period is personal care. Shea butter is widely distributed in the food and beverage industries. The medicines segment, however, is anticipated to grow more slowly during the study period.

Key Players:

BASF SE (Germany), Bunge Ltd (US), Cargill, Incorporated (US), AAK AB (Sweden), Vink Chemicals GmbH & Co. KG (Germany), Sophim S.A (France), Ghana Nuts Company Limited (Ghana), Shea Radiance (US), The Organic Shea Butter Company (US), and The Savannah Fruits Company (Ghana) are the Key Players in the Global Shea Butter Market.

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