The GMI Research report provides an overall outlook of the industry through a detailed market segmentation. The report offers thorough information related to the the overview and scope of the market, including the market drivers, restraints and emerging trends in the industry. This report is especially designed to include both qualitative and quantitative aspects of the industry in each region and country participating in the study.
Competitive Rivalry of the Shea Butter Market:
The leading players in the shea butter market include Sophim S.A., Olvea, ADM, Clariant, Ghana Nuts Company Limited, Croda International Plc, AAK.com, Cargill, Incorporated, Bunge Limited, and BASF SE, among others.
Drivers of the Shea Butter Market:
The significant factor responsible for the growth of the global shea butter market includes the growing consumption of chocolate and bakery products globally. With the change in taste & preference, the consumers have started looking for substitutes for edible vegetable oils, cocoa butter, and fats. The bakery and confectionery manufacturers are using shea butter as an alternative for cocoa butter owing to the high prices of cocoa. This widespread usage of shea butter as an alternative product will propel the growth of the global shea butter market during the forecast period.
The rising demand for personal care & cosmetics products worldwide will fuel the growth of the market. Shea butter consists of a high level of oleic acid, linoleic acid, and vitamin A and E, which protects and nourishes the skin from within. The cosmetics manufactures are mainly aiming at R&D to develop innovative shea butter-based products as per the increasing customer’s need. On the other edge of the spectrum, the easy availability of cheaper alternatives such as shea oil, mango butter, avocado butter will hinder the growth of the global shea butter market in the upcoming years.
Based on the region, the GCC and African countries are projected to grow at a faster CAGR during the forecast period due to the increasing production of shea butter in these areas as a result of ample raw material supply and easy availability of cheap labor. Furthermore, rapid urbanization and high disposable income level will boost the demand for the global shea butter market during the forecast period.
The main objective of the study is to define market sizes of the different market segments & countries during the forecast period and analyze the values in the next six years. The detailed segments and sub-segments of the market are explained below:
Breakup by Product:
- Raw and Unrefined
Breakup by Application:
- Personal Care & cosmetics
- Food & Beverage
Breakup by Distribution Channel:
- Specialty Stores
- Convenience Stores
Breakup by Region:
- North America
o United States of America
- Asia Pacific
o Rest of APAC
o United Kingdom
o Rest of Europe
o South Africa
o Saudi Arabia
o Rest of the world (remaining countries of the LAMEA region)
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