Shea Butter Market Size is Expected to Reach USD 3,566.1 Million by 2028, Growing at a 5.2% CAGR | TMR

shea butter market is expected to reach a market value of US$ 3,566.1 Mn by the end of 2028, with an expected CAGR of 5.2% over the forecast period.

WILMINGTON, DE, UNITED STATES, December 19, 2024 /EINPresswire.com/ -- The shea butter market has seen consistent growth due to its wide-ranging applications in the food, cosmetics, and pharmaceutical industries. Derived from the nuts of the shea tree, shea butter is known for its moisturizing, anti-inflammatory, and healing properties, making it a highly sought-after ingredient.

As consumer preferences shift toward natural and organic products, the demand for shea butter as a sustainable and eco-friendly ingredient has surged. Additionally, its increasing use in personal care products, chocolates, and medicinal formulations has solidified its position as a versatile and valuable commodity in global markets. In terms of value, the global shea butter market is expected to reach a market value of US$ 3,566.1 Mn by the end of 2028, with an expected CAGR of 5.2% over the forecast period.

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Key Drivers of Growth

Rising Demand for Natural and Organic Products
The global shift toward organic and sustainable ingredients has significantly increased the use of shea butter in personal care and cosmetic products.

Expanding Cosmetic and Skincare Industry
The moisturizing and anti-aging properties of shea butter make it a popular ingredient in lotions, creams, and balms.

Increased Awareness of Health Benefits
Shea butter's antioxidant, anti-inflammatory, and skin-repairing qualities drive its use in pharmaceutical applications.

Growth in the Food Industry
Shea butter is used as a cocoa butter substitute in chocolates and as a cooking oil, particularly in African countries.

Sustainable Sourcing Initiatives
Efforts to promote sustainable harvesting practices and fair trade sourcing have enhanced the market appeal of shea butter.

Recent Trends

Rise of Ethical and Fair Trade Practices
Consumers are increasingly drawn to brands that support sustainable and ethically sourced shea butter, benefiting African communities.

Increased Use in Vegan and Clean Beauty Products
As vegan and clean beauty products gain traction, shea butter serves as a key ingredient due to its plant-based and chemical-free nature.

Innovation in Product Offerings
Manufacturers are developing value-added products such as shea butter blends and infusions with essential oils for targeted skincare solutions.

Expansion in Pharmaceutical Applications
The medicinal properties of shea butter, including its use in wound healing and anti-inflammatory treatments, are being explored further.

Growth of Online Retail Channels
The convenience and availability of diverse product options have boosted online sales of shea butter-based products.

Top Companies:

BASF SE
Olvea Group
Sophim S.A.
Cargill, Inc.
Suru Chemicals
Ghana Nuts Company Ltd.
Croda International Plc
Agrobotanicals, LLC
Clariant AG
AAK AB

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Future Outlook

The shea butter market is poised for substantial growth in the coming years, driven by increasing consumer preference for natural and sustainable products. Innovations in skincare and pharmaceutical applications, coupled with ethical sourcing practices, will create new opportunities for market expansion.

Market Segmentation

Grade

Grade A (Unrefined)
Grade B (Refined)
Grade C (Highly Refined)
Nature

Organic
Conventional
End use

Cosmetics & Personal Care
Lotions & Creams
Lip Balm & Lipsticks
Sun Care Products
Soaps & Toiletries
Cleaners
Shampoos & Conditioners
Others

Food Processing
Bakery
Chocolate & Confectioneries
Ice Cream
Others
Pharmaceuticals
Retail

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Regions

North America
Europe
Asia Pacific
Middle East & Africa
South America

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