Report Code: CMI22814

Category: Processed & Frozen Foods

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Report Snapshot

CAGR: 8%

2.5B

2021

2.8B

2022

5.2B

2030

Source: CMI

Study Period:	2024-2033
Fastest Growing Market:	Europe
Largest Market:	Asia-Pacific

Major Players

BASF SE
Croda International
Bunge Limited
Cargill, Inc.
Others

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Reports Description

According to Custom Market Insights (CMI), the Global Shea Butter Market was estimated at USD 2.5 billion in 2021 and is expected to reach USD 2.8 billion in 2022 and is anticipated to reach around USD 5.2 billion by 2030, growing at a CAGR of roughly 8% between 2022 and 2030.

Our research report offers a 360-degree view of the Shea Butter market’s drivers and restraints, coupled with the impact they have on demand during the projection period. Also, the report examines global opportunities and competitive analysis for the Shea Butter market.

Shea butter is a naturally occurring product made from the shea tree’s nuts and is widely utilized in the culinary and cosmetics industries. In addition to having good fats and micronutrients, the product is a skin-nourishing agent that can be used directly on the skin or combined with other ingredients to make lotions, soaps, shampoos, or creams.
It is abundant in vitamins, and minerals like potassium, magnesium, and other nutrients and is free of chemical additives and preservatives. It also contains vitamins A, F, and E, which are substituted for hardened fats in foods and beverages, including vegetable oils and animal-derived lipids. Due to its superior moisturizing, healing, and hydrating qualities, it is also utilized as a substitute for coconut oil, butter, and olive oil in cosmetic products such as moisturizers, sunscreens, creams, and lotions.
Due to a severe lockdown, the COVID-19 outbreak had a negative effect on the market by disrupting the delivery of raw materials to industrial facilities. Additionally, shops and enterprises were shut down, which further decreased sales of shea butter-based goods. Shea butter usage in soap products was lowered by 25% in November 2021, per a National Center for Biotechnology Information (NCBI) article. Additionally, the worldwide economic downturn forced consumers to be cautious with their spending, which had an impact on the market.

Report Scope

The global Shea Butter market research report offers an in-depth analysis of the global market size, which is further segmented into the regional and country-level market size, and segmentation market growth. Also, it provides the market share, sales analysis, competitive landscape, the impact of domestic and global market participants, trade regulations, value chain optimization, recent key developments, strategic market growth analysis, opportunities analysis, product launches, and technological innovations. The scope of the study includes market sizing and forecast for segmentation by product, application, and geography.

Report Scope

Feature of the Report	Details
Market Size in 2021	USD 2.5 Billion
Projected Market Size in 2030	USD 5.2 Billion
Market Size in 2022	USD 2.8 Billion
CAGR Growth Rate	8% CAGR (2022-2030)
Base Year	2023
Forecast Period	2024-2033
Key Segment	By Grade, Application, and Region
Report Coverage	Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope	North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options	Request tailored purchasing options to fulfil your requirements for research.

Key Market Dynamics

Over the course of the projected period, increased demand for cocoa butter alternatives and rising consumption of cocoa and bakery goods are anticipated to propel market expansion. Shea butter is viewed as a healthier option to cocoa butter, according to a Dairy Reporter story from October 2021. Additionally, the aforementioned product is frequently utilized in a variety of food applications as a replacement for edible vegetable fats and oils, which is predicted to expand the market’s potential.
Due to increased customer demand for goods that offer a variety of benefits and sustenance, the cosmetics industry has recently started to diversify its usage of shea butter. Additionally, it’s a component of lotions, baby oil, skincare, hair care, color cosmetics, and other goods. Shea butter has many applications, likely to spur market expansion in the next seven years.
In the years to come, there will likely be an increase in demand for the market due to the rising demand for baked products and confectionery, as well as the need for alternatives for cocoa butter. Puff pastry, cookies, and chocolates are just a few of the baked delicacies that use shea butter as a basic ingredient.
In the coming years, global shea butter market revenue is expected to increase as people become more aware of shea butter’s therapeutic benefits for the skin, including its anti-ageing effects, additional moisturizing characteristics, and healing effects. Additionally, the preference of people, particularly women and young people, for cosmetic goods made with natural ingredients is anticipated to promote market growth. In March 2022, around 85% of consumers worldwide would favour skin care products with natural components like shea butter, according to a National Programs article.
Additionally, the market is anticipated to grow faster than average over the period under consideration due to the rising number of product launches in the cosmetics & personal care sector.

Global Shea Butter Market 2022–2030 (By Billion)

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Raw & Unrefined Shea butter to Hold the Largest Share in the Shea Butter Market in 2021

The raw & unrefined shea butter segment led the shea butter market in 2021, and it is anticipated that it will continue to dominate during the forecast period. Less processed oils are gaining popularity among consumers because of their advantages, which include increasing skin hydration, mending scrapes & cuts, and preventing breakouts.
For instance, Karite Shea Butter introduced Crème Corps Body Cream in March 2020. This natural body care line offers the advantages of raw and unprocessed ingredients, making it healthy for the skin. The successful market growth trend is anticipated to be supported by such launches.
During the forecast period, the refined segment is anticipated to increase at the second-fastest rate. Because the product has a longer shelf life, people are increasingly favouring refined. The aroma and color of the product are also removed during the refining process, which is anticipated to expand its application in skin care products by producers as they create anti-sensitive solutions.
For instance, Crafters Choice debuted soap and other personal care items made with ultra-refined, pure shea butter in May 2021.

Competitive Landscape

With a large number of well-established international businesses and a large number of new important market entrants, the shea butter industry is fragmented globally. To boost their customer base and foster brand loyalty, these players are participating in significant acquisition and promotional campaigns.

The competitive landscape of the Shea Butter industry gives information about the competitors. The company’s financials, revenue generated, market potential, investment in R&D, global presence, new market initiatives, production capacities, production sites & facilities, company strengths and weaknesses, product release, product width and breadth, and application dominance are among the details that are included. The data points mentioned above only pertain to the companies’ market focus on Shea Butters.

2022: Byrdie introduced Karité, a brand-new skincare collection. The company sells a variety of necessities manufactured with pure shea butter as well as palm oil from their native West Africa, such as body lotion, hand cream, and lip balm. The items are sold in a variety of retail and beauty outlets in the United States and Canada and feature anti-inflammatory and antioxidant characteristics.
2021: Crafters Choice launched personal care products made with pure shea butter that are ultra-refined, such as body lotion and soap.

Global Shea Butter Market 2022–2030 (By Application)

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List of the prominent players in the global Shea Butter market:

BASF SE
Croda International
Bunge Limited
Cargill, Inc.
Archer Daniels Midland Company
International Oils & Fats Limited
Wilmer International
Ghana Nuts Company Limited
Fuji Oil Holdings, Inc.
3F Industries Ltd.
Others

The global Shea Butter market is segmented as follows:

By Product

Raw & Unrefined
Refined

By Application

Food & Beverage
Cosmetics & Personal Care
Others

By Region

North America

U.S.
Canada
Mexico
Rest of North America

Europe

Germany
France
U.K.
Italy
Spain
Rest of Europe

Asia Pacific

China
Japan
India
New Zealand
Australia
South Korea
Rest of Asia Pacific

The Middle East & Africa

Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of the Middle East & Africa

Latin America

Brazil
Argentina
Rest of Latin America

Table of Contents

Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
  - 1.3.1 Market Research Type
  - 1.3.2 Market research methodology
Chapter 2. Executive Summary
- 2.1 Global Shea Butter Market, (2022 – 2030) (USD Billion)
- 2.2 Global Shea Butter Market : snapshot
Chapter 3. Global Shea Butter Market – Industry Analysis
- 3.1 Shea Butter Market: Market Dynamics
- 3.2 Market Drivers
  - 3.2.1 Increasing demand for cocoa butter substitutes
  - 3.2.2 Rising consumption of cocoa and bakery products
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porterâ€™s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
  - 3.7.1 Market attractiveness analysis By Product
  - 3.7.2 Market attractiveness analysis By Application
Chapter 4. Global Shea Butter Market- Competitive Landscape
- 4.1 Company market share analysis
  - 4.1.1 Global Shea Butter Market: company market share, 2021
- 4.2 Strategic development
  - 4.2.1 Acquisitions & mergers
  - 4.2.2 New Product launches
  - 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
  - 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
Chapter 5. Global Shea Butter Market – Product Analysis
- 5.1 Global Shea Butter Market overview: By Product
  - 5.1.1 Global Shea Butter Market share, By Product, 2021 and 2030
- 5.2 Raw & Unrefined
  - 5.2.1 Global Shea Butter Market by Raw & Unrefined, 2022 – 2030 (USD Billion)
- 5.3 Refined
  - 5.3.1 Global Shea Butter Market by Refined, 2022 – 2030 (USD Billion)
Chapter 6. Global Shea Butter Market – Application Analysis
- 6.1 Global Shea Butter Market overview: By Application
  - 6.1.1 Global Shea Butter Market share, By Application, 2021 and 2030
- 6.2 Food & Beverage
  - 6.2.1 Global Shea Butter Market by Food & Beverage, 2022 – 2030 (USD Billion)
- 6.3 Cosmetics & Personal Care
  - 6.3.1 Global Shea Butter Market by Cosmetics & Personal Care, 2022 – 2030 (USD Billion)
- 6.4 Others
  - 6.4.1 Global Shea Butter Market by Others, 2022 – 2030 (USD Billion)
Chapter 7. Shea Butter Market – Regional Analysis
- 7.1 Global Shea Butter Market Regional Overview
- 7.2 Global Shea Butter Market Share, by Region, 2021 & 2030 (USD Billion)
- 7.3. North America
  - 7.3.1 North America Shea Butter Market, 2022 – 2030 (USD Billion)
    - 7.3.1.1 North America Shea Butter Market, by Country, 2022 – 2030 (USD Billion)
- 7.4 North America Shea Butter Market, by Product, 2022 – 2030
  - 7.4.1 North America Shea Butter Market, by Product, 2022 – 2030 (USD Billion)
- 7.5 North America Shea Butter Market, by Application, 2022 – 2030
  - 7.5.1 North America Shea Butter Market, by Application, 2022 – 2030 (USD Billion)
- 7.6. Europe
  - 7.6.1 Europe Shea Butter Market, 2022 – 2030 (USD Billion)
    - 7.6.1.1 Europe Shea Butter Market, by Country, 2022 – 2030 (USD Billion)
- 7.7 Europe Shea Butter Market, by Product, 2022 – 2030
  - 7.7.1 Europe Shea Butter Market, by Product, 2022 – 2030 (USD Billion)
- 7.8 Europe Shea Butter Market, by Application, 2022 – 2030
  - 7.8.1 Europe Shea Butter Market, by Application, 2022 – 2030 (USD Billion)
- 7.9. Asia Pacific
  - 7.9.1 Asia Pacific Shea Butter Market, 2022 – 2030 (USD Billion)
    - 7.9.1.1 Asia Pacific Shea Butter Market, by Country, 2022 – 2030 (USD Billion)
- 7.10 Asia Pacific Shea Butter Market, by Product, 2022 – 2030
  - 7.10.1 Asia Pacific Shea Butter Market, by Product, 2022 – 2030 (USD Billion)
- 7.11 Asia Pacific Shea Butter Market, by Application, 2022 – 2030
  - 7.11.1 Asia Pacific Shea Butter Market, by Application, 2022 – 2030 (USD Billion)
- 7.12. Latin America
  - 7.12.1 Latin America Shea Butter Market, 2022 – 2030 (USD Billion)
    - 7.12.1.1 Latin America Shea Butter Market, by Country, 2022 – 2030 (USD Billion)
- 7.13 Latin America Shea Butter Market, by Product, 2022 – 2030
  - 7.13.1 Latin America Shea Butter Market, by Product, 2022 – 2030 (USD Billion)
- 7.14 Latin America Shea Butter Market, by Application, 2022 – 2030
  - 7.14.1 Latin America Shea Butter Market, by Application, 2022 – 2030 (USD Billion)
- 7.15. The Middle-East and Africa
  - 7.15.1 The Middle-East and Africa Shea Butter Market, 2022 – 2030 (USD Billion)
    - 7.15.1.1 The Middle-East and Africa Shea Butter Market, by Country, 2022 – 2030 (USD Billion)
- 7.16 The Middle-East and Africa Shea Butter Market, by Product, 2022 – 2030
  - 7.16.1 The Middle-East and Africa Shea Butter Market, by Product, 2022 – 2030 (USD Billion)
- 7.17 The Middle-East and Africa Shea Butter Market, by Application, 2022 – 2030
  - 7.17.1 The Middle-East and Africa Shea Butter Market, by Application, 2022 – 2030 (USD Billion)
Chapter 8. Company Profiles
- 8.1 BASF SE
  - 8.1.1 Overview
  - 8.1.2 Financials
  - 8.1.3 Product Portfolio
  - 8.1.4 Business Strategy
  - 8.1.5 Recent Developments
- 8.2 Croda International
  - 8.2.1 Overview
  - 8.2.2 Financials
  - 8.2.3 Product Portfolio
  - 8.2.4 Business Strategy
  - 8.2.5 Recent Developments
- 8.3 Bunge Limited
  - 8.3.1 Overview
  - 8.3.2 Financials
  - 8.3.3 Product Portfolio
  - 8.3.4 Business Strategy
  - 8.3.5 Recent Developments
- 8.4 Cargill Inc.
  - 8.4.1 Overview
  - 8.4.2 Financials
  - 8.4.3 Product Portfolio
  - 8.4.4 Business Strategy
  - 8.4.5 Recent Developments
- 8.5 Archer Daniels Midland Company
  - 8.5.1 Overview
  - 8.5.2 Financials
  - 8.5.3 Product Portfolio
  - 8.5.4 Business Strategy
  - 8.5.5 Recent Developments
- 8.6 International Oils & Fats Limited
  - 8.6.1 Overview
  - 8.6.2 Financials
  - 8.6.3 Product Portfolio
  - 8.6.4 Business Strategy
  - 8.6.5 Recent Developments
- 8.7 Wilmer International
  - 8.7.1 Overview
  - 8.7.2 Financials
  - 8.7.3 Product Portfolio
  - 8.7.4 Business Strategy
  - 8.7.5 Recent Developments
- 8.8 Ghana Nuts Company Limited
  - 8.8.1 Overview
  - 8.8.2 Financials
  - 8.8.3 Product Portfolio
  - 8.8.4 Business Strategy
  - 8.8.5 Recent Developments
- 8.9 Fuji Oil Holdings Inc.
  - 8.9.1 Overview
  - 8.9.2 Financials
  - 8.9.3 Product Portfolio
  - 8.9.4 Business Strategy
  - 8.9.5 Recent Developments
- 8.10 3F Industries Ltd.
  - 8.10.1 Overview
  - 8.10.2 Financials
  - 8.10.3 Product Portfolio
  - 8.10.4 Business Strategy
  - 8.10.5 Recent Developments

List Of Figures

Figures No 1 to 19

List Of Tables

Tables No 1 to 52

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2030

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective	Primary research	Secondary research
Supply-side	Manufacturers Technology distributors and wholesalers	Company reports and publications Government publications Independent investigations Economic and demographic data
Demand-side	End-user surveys Consumer surveys Mystery shopping	Case studies Reference customers

Market Analysis Matrix

Qualitative analysis

Quantitative analysis

Industry landscape and trends
Market dynamics and key issues
Technology landscape
Market opportunities
Porter’s analysis and PESTEL analysis
Competitive landscape and component benchmarking
Policy and regulatory scenario

Market revenue estimates and forecast up to 2030
Market revenue estimates and forecasts up to 2030, by technology
Market revenue estimates and forecasts up to 2030, by application
Market revenue estimates and forecasts up to 2030, by type
Market revenue estimates and forecasts up to 2030, by component
Regional market revenue forecasts, by technology
Regional market revenue forecasts, by application
Regional market revenue forecasts, by type
Regional market revenue forecasts, by component

Prominent Players

BASF SE
Croda International
Bunge Limited
Cargill, Inc.
Archer Daniels Midland Company
International Oils & Fats Limited
Wilmer International
Ghana Nuts Company Limited
Fuji Oil Holdings, Inc.
3F Industries Ltd.
Others

FAQs

1 . Which region will dominate the global Shea Butter market?

“Europe” region will lead the global Shea Butter market during the forecast period 2022 to 2030.

2 . Which are the driving factors of the Shea Butter market?

The key factors driving the market are increasing demand for cocoa butter substitutes and rising consumption of cocoa and bakery products.

3 . Who are the top players operating in the Shea Butter market?

The key players operating in the Shea Butter market are BASF SE, Croda International, Bunge Limited, Cargill Inc., Archer Daniels Midland Company, International Oils & Fats Limited, Wilmer International, Ghana Nuts Company Limited, Fuji Oil Holdings Inc., 3F Industries Ltd.

4 . What will be the CAGR of global Shea Butter market?

The global Shea Butter market is expanding growth with a CAGR of approximately 8% during the forecast period (2022 to 2030).

5 . What is the existing size of Shea Butter market?

The global Shea Butter market size was valued at USD 2.5 Billion in 2021 and it is projected to reach around USD 5.2 Billion by 2030.

Global Shea Butter Market 2024–2033

Shea Butter Market Size, Trends and Insights By Grade (Pharmaceutical, Industrial), By Application (Pharmaceuticals, Food and Preservatives, Cosmetics, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033