As of 2023, the global shea butter market has successfully attained a significant valuation of US$ 2.75 billion, reflecting its robust growth trajectory.
Projections suggest that the market is poised to maintain a steady pace of expansion, with an estimated CAGR of 7% from 2023 to 2033. The market is expected to culminate in an impressive value of US$ 5.58 billion by the end of 2033.
The rising market trajectory is facilitated by the increasing consumer preference for natural and organic skincare products.
In recent years, there has been a noticeable shift in consumer behavior towards sustainable and eco-friendly choices in personal care. Therefore, the demand for shea butter is surging, being a natural ingredient known for its moisturizing, nourishing, and healing properties.
| Attribute | Details |
|---|---|
| Shea Butter Market Size Value in 2023 | US$ 2.75 billion |
| Shea Butter Market Forecast Value in 2033 | US$ 5.58 billion |
| Shea Butter Market Growth Rate (2023 to 2033) | 7% |
Apart from containing healthy fats and micronutrients, the product is also a skin-nourishing substance that can be applied to the skin in pure form. In mixed forms, it is used in lotions, soaps, shampoos, or creams.
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Demand for shea butter recorded a 2.9% CAGR between 2018 and 2022, according to Future Market Insights (FMI).
Shea butter found its way into an array of personal care products, including lotions, creams, soaps, lip balms, and hair care products. Its versatility and ability to address various skincare needs allowed it to cater to a broad consumer base, boosting its popularity and demand.
The emergence of shea butter as a coveted ingredient in the luxury skincare market has revolutionized the industry. The market is projected to move forward at a 7% CAGR from 2023 to 2033.
The application of shea butter in the cosmetics industry is likely to reflect an optimistic growth outlook in terms of revenue. According to the annual market analysis conducted by Future Market Insights.
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In the European region, shea butter is widely used in the production of goods like body lotions, moisturizers, and chocolates. Due to the region's abundance of cosmetics and pharmaceutical companies.
Where Germany shea butter industry was predicted to retain a value share of 7.2% in 2022. The market in the United Kingdom is anticipated to progress at a rate of 9.1% from 2023 to 2033.
The clean beauty trend, emphasizing non-toxic and natural ingredients, has contributed to the growth of shea butter in the United Kingdom market. As it is perceived as a safe and effective skincare ingredient.
The Asia Pacific shea butter market is expected to grow at a rapid rate. According to United Nations figures, Asia Pacific become home to more than half of the world's population. These rudimentary population statistics might be useful to manufacturers in understanding their market and creating new products.
China shea butter market is likely to hold a significant portion, advancing at a 5.8% CAGR, and the India shea butter market is forecasted to move forward at a rate of 9.8% from 2023 to 2033.
Chinese and Indian consumers are increasingly seeking high-quality and sustainable skincare solutions. Making shea butter an appealing choice, and contributing to the market size.
Shea Butter has its base origin of production in Africa, more specifically in the African Shea Belt, which contains 21 countries. Including the Central African Republic, Ghana, Nigeria, Ethiopia, Cameroon, and others.
According to the study, quality sources of shea butter can be obtained from Nigeria, Ghana, and Uganda. It is obtained with two sub-species Vitellaria Nilotica from Uganda and Vitellaria Paradoxa from Ghana and Nigeria.
GCC countries have immense production opportunities due to the easy availability of sourced raw materials. This has resulted in a top yield of shea butter from pure, fresh, and quality shea nuts with years of experience, driving the demand in the market.
As per the study by FMI, the market for shea butter in the United States of America was projected to possess a value share of 18.2% in 2022.
The United States of America Food and Drug Administration (FDA) has approved the soft fraction of shea butter. This can deliver high stability and premium quality product with applications in snacks, baked foods, sauces, spreads, desserts, frozen foods, dairy, and others.
Key shea butter brands such as Bunge Loders Croklaan received a ‘no questions’ letter and GRAS (Generally Recognized as Safe) notice from the FDA for shea olein. It is a new shea ingredient offered by the company.
Shea olein, the soft fraction of shea butter, is the second product in GRAS approved shea ingredient list. Being a non-GMO product, it is expanding its market share gradually in the United States of America. As manufacturers are opting for the ingredient for preparing clean-label end products.
Organic shea butter has several benefits such as healing properties including the beige color and nutty scent it provides to the end products. Conventional production method chemically alters the raw shea butter which retains little or no natural healing properties.
It also removes the natural scent of the product and makes it bleach white. As a result, true and traditional organic shea butter production is gaining immense popularity across the globe.
As per FMI, organic shea butter was estimated to capture a 24.6% value share in 2022 on a global level.
Shea butter, which is used commercially, is classified into five grades, opines Future Market Insights. Grade A is the raw form or unrefined form of the product which is extracted only using water.
While grade B and grade C are refined and highly refined products respectively, which are extracted mainly with hexane solvents. Grade D is also an uncontaminated grade but with the lowest quality, and grade E contains contaminants in shea butter.
Among the grades of shea butter, grade A has the capability to retain the most natural vitamins. Such as vitamin A and vitamin E in their pure forms, being prepared and extracted without any use of preservatives or chemicals.
Only unrefined or grade-A shea butter can keep all of the natural healing properties. This is expected to boost the market share of the segment.
Attributed to all the above-mentioned factors, the grade A shea butter was to hold a 31.4% share globally in 2022.
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Key shea butter brands operating in the market are focusing on providing an extensive range of products in their portfolio to woo customers. They are also adopting strategies such as mergers and acquisitions to expand their consumer base.
Popular Strategies Employed by Players in the Market:
Recent Developments:
The shea butter market is likely to amass a revenue of US$ 5.58 billion by 2033.
The market for shea butter is poised to expand at 7% CAGR through 2033.
From 2018 to 2022, the shea butter industry registered a 2.9%.
The United States of America shea butter market value share was gauged to be 18.2%.
Grade A sub-segment is expected to lead the market.
The market is valued at US$ 2.75 billion in 2023.
From 2017 to 2022, the market registered a CAGR of 2.9%.
The market is estimated to reach US$ 5.58 billion in 2033.
Europe is estimated to register a 9.1% CAGR until 2033.
Social media influences and growing beauty trends offer key opportunities.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer’s 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 4.1. Historical Market Size Value (US$ Million) & Volume (MT) Analysis, 2018 to 2022 4.2. Current and Future Market Size Value (US$ Million) & Volume (MT) Projections, 2023 to 2033 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Nature 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (MT) Analysis By Nature, 2018 to 2022 5.3. Current and Future Market Size Value (US$ Million) & Volume (MT) Analysis and Forecast By Nature, 2023 to 2033 5.3.1. Organic 5.3.2. Conventional 5.4. Y-o-Y Growth Trend Analysis By Nature, 2018 to 2022 5.5. Absolute $ Opportunity Analysis By Nature, 2023 to 2033 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Grade 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (MT) Analysis By Grade, 2018 to 2022 6.3. Current and Future Market Size Value (US$ Million) & Volume (MT) Analysis and Forecast By Grade, 2023 to 2033 6.3.1. Grade A (raw or unrefined) 6.3.2. Grade B (refined) 6.3.3. Grade C (highly refined) 6.3.4. Grade D (lowest uncontaminated grade) 6.3.5. Grade E (with contaminants) 6.4. Y-o-Y Growth Trend Analysis By Grade, 2018 to 2022 6.5. Absolute $ Opportunity Analysis By Grade, 2023 to 2033 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 7.1. Introduction / Key Findings 7.2. Historical Market Size Value (US$ Million) & Volume (MT) Analysis By Application, 2018 to 2022 7.3. Current and Future Market Size Value (US$ Million) & Volume (MT) Analysis and Forecast By Application, 2023 to 2033 7.3.1. Food Processing 7.3.2. Cosmetics & Personal Care 7.3.3. Pharmaceuticals Industry 7.3.4. Others 7.4. Y-o-Y Growth Trend Analysis By Application, 2018 to 2022 7.5. Absolute $ Opportunity Analysis By Application, 2023 to 2033 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. Introduction 8.2. Historical Market Size Value (US$ Million) & Volume (MT) Analysis By Region, 2018 to 2022 8.3. Current Market Size Value (US$ Million) & Volume (MT) Analysis and Forecast By Region, 2023 to 2033 8.3.1. North America 8.3.2. Latin America 8.3.3. Europe 8.3.4. Asia Pacific 8.3.5. MEA 8.4. Market Attractiveness Analysis By Region 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022 9.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033 9.2.1. By Country 9.2.1.1. The USA 9.2.1.2. Canada 9.2.2. By Nature 9.2.3. By Grade 9.2.4. By Application 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Nature 9.3.3. By Grade 9.3.4. By Application 9.4. Key Takeaways 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022 10.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033 10.2.1. By Country 10.2.1.1. Brazil 10.2.1.2. Mexico 10.2.1.3. Rest of Latin America 10.2.2. By Nature 10.2.3. By Grade 10.2.4. By Application 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Nature 10.3.3. By Grade 10.3.4. By Application 10.4. Key Takeaways 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022 11.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033 11.2.1. By Country 11.2.1.1. Germany 11.2.1.2. United Kingdom 11.2.1.3. France 11.2.1.4. Spain 11.2.1.5. Italy 11.2.1.6. Rest of Europe 11.2.2. By Nature 11.2.3. By Grade 11.2.4. By Application 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Nature 11.3.3. By Grade 11.3.4. By Application 11.4. Key Takeaways 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022 12.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033 12.2.1. By Country 12.2.1.1. China 12.2.1.2. Japan 12.2.1.3. South Korea 12.2.1.4. Singapore 12.2.1.5. Thailand 12.2.1.6. Indonesia 12.2.1.7. Australia 12.2.1.8. New Zealand 12.2.1.9. Rest of Asia Pacific 12.2.2. By Nature 12.2.3. By Grade 12.2.4. By Application 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Nature 12.3.3. By Grade 12.3.4. By Application 12.4. Key Takeaways 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022 13.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033 13.2.1. By Country 13.2.1.1. GCC Countries 13.2.1.2. South Africa 13.2.1.3. Israel 13.2.1.4. Rest of MEA 13.2.2. By Nature 13.2.3. By Grade 13.2.4. By Application 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Nature 13.3.3. By Grade 13.3.4. By Application 13.4. Key Takeaways 14. Key Countries Market Analysis 14.1. USA 14.1.1. Pricing Analysis 14.1.2. Market Share Analysis, 2022 14.1.2.1. By Nature 14.1.2.2. By Grade 14.1.2.3. By Application 14.2. Canada 14.2.1. Pricing Analysis 14.2.2. Market Share Analysis, 2022 14.2.2.1. By Nature 14.2.2.2. By Grade 14.2.2.3. By Application 14.3. Brazil 14.3.1. Pricing Analysis 14.3.2. Market Share Analysis, 2022 14.3.2.1. By Nature 14.3.2.2. By Grade 14.3.2.3. By Application 14.4. Mexico 14.4.1. Pricing Analysis 14.4.2. Market Share Analysis, 2022 14.4.2.1. By Nature 14.4.2.2. By Grade 14.4.2.3. By Application 14.5. Germany 14.5.1. Pricing Analysis 14.5.2. Market Share Analysis, 2022 14.5.2.1. By Nature 14.5.2.2. By Grade 14.5.2.3. By Application 14.6. United Kingdom 14.6.1. Pricing Analysis 14.6.2. Market Share Analysis, 2022 14.6.2.1. By Nature 14.6.2.2. By Grade 14.6.2.3. By Application 14.7. France 14.7.1. Pricing Analysis 14.7.2. Market Share Analysis, 2022 14.7.2.1. By Nature 14.7.2.2. By Grade 14.7.2.3. By Application 14.8. Spain 14.8.1. Pricing Analysis 14.8.2. Market Share Analysis, 2022 14.8.2.1. By Nature 14.8.2.2. By Grade 14.8.2.3. By Application 14.9. Italy 14.9.1. Pricing Analysis 14.9.2. Market Share Analysis, 2022 14.9.2.1. By Nature 14.9.2.2. By Grade 14.9.2.3. By Application 14.10. China 14.10.1. Pricing Analysis 14.10.2. Market Share Analysis, 2022 14.10.2.1. By Nature 14.10.2.2. By Grade 14.10.2.3. By Application 14.11. Japan 14.11.1. Pricing Analysis 14.11.2. Market Share Analysis, 2022 14.11.2.1. By Nature 14.11.2.2. By Grade 14.11.2.3. By Application 14.12. South Korea 14.12.1. Pricing Analysis 14.12.2. Market Share Analysis, 2022 14.12.2.1. By Nature 14.12.2.2. By Grade 14.12.2.3. By Application 14.13. Singapore 14.13.1. Pricing Analysis 14.13.2. Market Share Analysis, 2022 14.13.2.1. By Nature 14.13.2.2. By Grade 14.13.2.3. By Application 14.14. Thailand 14.14.1. Pricing Analysis 14.14.2. Market Share Analysis, 2022 14.14.2.1. By Nature 14.14.2.2. By Grade 14.14.2.3. By Application 14.15. Indonesia 14.15.1. Pricing Analysis 14.15.2. Market Share Analysis, 2022 14.15.2.1. By Nature 14.15.2.2. By Grade 14.15.2.3. By Application 14.16. Australia 14.16.1. Pricing Analysis 14.16.2. Market Share Analysis, 2022 14.16.2.1. By Nature 14.16.2.2. By Grade 14.16.2.3. By Application 14.17. New Zealand 14.17.1. Pricing Analysis 14.17.2. Market Share Analysis, 2022 14.17.2.1. By Nature 14.17.2.2. By Grade 14.17.2.3. By Application 14.18. GCC Countries 14.18.1. Pricing Analysis 14.18.2. Market Share Analysis, 2022 14.18.2.1. By Nature 14.18.2.2. By Grade 14.18.2.3. By Application 14.19. South Africa 14.19.1. Pricing Analysis 14.19.2. Market Share Analysis, 2022 14.19.2.1. By Nature 14.19.2.2. By Grade 14.19.2.3. By Application 14.20. Israel 14.20.1. Pricing Analysis 14.20.2. Market Share Analysis, 2022 14.20.2.1. By Nature 14.20.2.2. By Grade 14.20.2.3. By Application 15. Market Structure Analysis 15.1. Competition Dashboard 15.2. Competition Benchmarking 15.3. Market Share Analysis of Top Players 15.3.1. By Regional 15.3.2. By Nature 15.3.3. By Grade 15.3.4. By Application 16. Competition Analysis 16.1. Competition Deep Dive 16.1.1. BASF SE 16.1.1.1. Overview 16.1.1.2. Product Portfolio 16.1.1.3. Profitability by Market Segments 16.1.1.4. Sales Footprint 16.1.1.5. Strategy Overview 16.1.1.5.1. Marketing Strategy 16.1.1.5.2. Product Strategy 16.1.1.5.3. Channel Strategy 16.1.2. Bunge Limited 16.1.2.1. Overview 16.1.2.2. Product Portfolio 16.1.2.3. Profitability by Market Segments 16.1.2.4. Sales Footprint 16.1.2.5. Strategy Overview 16.1.2.5.1. Marketing Strategy 16.1.2.5.2. Product Strategy 16.1.2.5.3. Channel Strategy 16.1.3. Croda International 16.1.3.1. Overview 16.1.3.2. Product Portfolio 16.1.3.3. Profitability by Market Segments 16.1.3.4. Sales Footprint 16.1.3.5. Strategy Overview 16.1.3.5.1. Marketing Strategy 16.1.3.5.2. Product Strategy 16.1.3.5.3. Channel Strategy 16.1.4. Cargill, Inc. 16.1.4.1. Overview 16.1.4.2. Product Portfolio 16.1.4.3. Profitability by Market Segments 16.1.4.4. Sales Footprint 16.1.4.5. Strategy Overview 16.1.4.5.1. Marketing Strategy 16.1.4.5.2. Product Strategy 16.1.4.5.3. Channel Strategy 16.1.5. Archer Daniels Midland Company 16.1.5.1. Overview 16.1.5.2. Product Portfolio 16.1.5.3. Profitability by Market Segments 16.1.5.4. Sales Footprint 16.1.5.5. Strategy Overview 16.1.5.5.1. Marketing Strategy 16.1.5.5.2. Product Strategy 16.1.5.5.3. Channel Strategy 16.1.6. Wilmer International 16.1.6.1. Overview 16.1.6.2. Product Portfolio 16.1.6.3. Profitability by Market Segments 16.1.6.4. Sales Footprint 16.1.6.5. Strategy Overview 16.1.6.5.1. Marketing Strategy 16.1.6.5.2. Product Strategy 16.1.6.5.3. Channel Strategy 16.1.7. International Oils & Fats Limited 16.1.7.1. Overview 16.1.7.2. Product Portfolio 16.1.7.3. Profitability by Market Segments 16.1.7.4. Sales Footprint 16.1.7.5. Strategy Overview 16.1.7.5.1. Marketing Strategy 16.1.7.5.2. Product Strategy 16.1.7.5.3. Channel Strategy 16.1.8. Ghana Nuts Company Limited 16.1.8.1. Overview 16.1.8.2. Product Portfolio 16.1.8.3. Profitability by Market Segments 16.1.8.4. Sales Footprint 16.1.8.5. Strategy Overview 16.1.8.5.1. Marketing Strategy 16.1.8.5.2. Product Strategy 16.1.8.5.3. Channel Strategy 16.1.9. Fuji Oil Holdings, Inc. 16.1.9.1. Overview 16.1.9.2. Product Portfolio 16.1.9.3. Profitability by Market Segments 16.1.9.4. Sales Footprint 16.1.9.5. Strategy Overview 16.1.9.5.1. Marketing Strategy 16.1.9.5.2. Product Strategy 16.1.9.5.3. Channel Strategy 16.1.10. 3F Industries Ltd. 16.1.10.1. Overview 16.1.10.2. Product Portfolio 16.1.10.3. Profitability by Market Segments 16.1.10.4. Sales Footprint 16.1.10.5. Strategy Overview 16.1.10.5.1. Marketing Strategy 16.1.10.5.2. Product Strategy 16.1.10.5.3. Channel Strategy 17. Assumptions & Acronyms Used 18. Research Methodology
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Shea Butter Market
