PUBLISHER: Polaris Market Research | PRODUCT CODE: 1388109
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1388109
Shea Butter Market Share, Size, Trends, Industry Analysis Report, By Product (Raw & Unrefined, Refined), By Application (Cosmetics & Personal Care, Food, Others), By Region, And Segment Forecasts, 2023 - 2032
The global shea butter market size is expected to reach USD 3.75 billion by 2032, according to a new study by Polaris market research. The report "Shea Butter Market Share, Size, Trends, Industry Analysis Report, By Product (Raw & Unrefined, Refined), By Application (Cosmetics & Personal Care, Food, Others), By Region, And Segment Forecasts, 2023 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
The growth is attributed to an increasing appetite for these alternatives and a surge in the consumption of cocoa and bakery goods. Shea butter has been identified as an alternative to the cocoa butter, as mentioned in an article by Dairy Reporter in October 2021. Its versatility as a substitute for edible vegetable fats & oils in various food applications is also anticipated to expand the market's opportunities. Shea butter's versatile and beneficial properties make it highly sought after in several industries, including food, cosmetics & personal care. Its diverse applications range from being a natural antioxidant & edible oil to a food additive & functional food ingredient. The growing consumer preference for plant-based ingredients in skincare products is anticipated to further drive the demand for shea butter in the coming years.
The growing focus on creating healthier hair care products is set to create favorable prospects for the shea butter industry worldwide. This trend presents significant opportunities for leading manufacturers to develop hair care items like shampoos, conditioners, and serums, prominently featuring shea butter as a key ingredient. In line with this, SheaMoisture introduced its revitalized its "Raw Shea Butter Deep Moisturizing Collection," which incorporates raw shea butter, sea kelp, & argan oil.
Furthermore, cosmetics enterprises are channeling greater resources into research and development to unveil novel and more potent products infused with shea butter. This strategic focus is anticipated to exert a positive influence on the growth trajectory. The escalating demand for anti-aging and skin conditioning products is poised to provide an additional impetus to the expansion of this segment. For instance, Bliss introduced an antioxidant-rich body lotion in October 2022, formulated with shea butter alongside anti-aging components like vitamins B3, C, & E.
Shea butter industry is fragmented, meaning that there are numerous companies operating in the market, each contributing to a significant portion of the overall market share. This fragmentation arises due to the presence of multiple players, both large and small, who offer shea butter products and compete in the market. This fragmented nature of the industry is often influenced by factors such as the abundance of shea butter-producing regions, the availability of raw materials, and the ease of entry for new players. Additionally, the increasing demand for shea butter in various industries, such as food, cosmetics, and pharmaceuticals, has attracted multiple companies to participate in the market, further contributing to the fragmented landscape.
Shea Butter Market Report Highlights
Raw & refined shea butter expected to register steady growth rate, owing to its predominant use in cosmetic industry
Cosmetic & personal care segment garnered the largest share, owing to rise in demand in beauty & cosmetic products
Asia Pacific will grow at rapid pace, due to growing population seeking quality natural products
Key players include BASF, Olvea Group, Sophim, Cargill, Suru Chemicals, and Croda International
Polaris market research has segmented the Shea butter market report based on product, application, and region:
Shea Butter, Product Outlook (Revenue - USD Billion, 2019 - 2032)
- Raw & Unrefined
- Refined
Shea Butter, Application Outlook (Revenue - USD Billion, 2019 - 2032)
- Cosmetics & Personal Care
- Food
- Others
Shea Butter, Regional Outlook (Revenue - USD Billion, 2019 - 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
- 2.1. Market Highlights
3. Research Methodology
- 3.1. Overview
- 3.1.1. Data Mining
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Shea Butter Market Insights
- 4.1. Shea Butter Market - Industry Snapshot
- 4.2. Shea Butter Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Rising demand for natural and sustainable skincare
- 4.2.1.2. Increasing awareness of shea butter's health benefits
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Climate change challenges
- 4.2.1. Drivers and Opportunities
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTLE Analysis
- 4.5. Shea Butter Industry trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Shea Butter Market, by Product
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Shea Butter, by Product, 2019-2032 (USD Billion)
- 5.3. Raw & Unrefined
- 5.3.1. Global Shea Butter Market, by Raw & Unrefined, by Region, 2019-2032 (USD Billion)
- 5.4. Refined
- 5.4.1. Global Shea Butter Market, by Refined, by Region, 2019-2032 (USD Billion)
6. Global Shea Butter Market, by Application
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Shea Butter Market, by Application, 2019-2032 (USD Billion)
- 6.3. Cosmetics & Personal Care
- 6.3.1. Global Shea Butter Market, by Cosmetics & Personal Care, by Region, 2019-2032 (USD Billion)
- 6.4. Food
- 6.4.1. Global Shea Butter Market, by Food, by Region, 2019-2032 (USD Billion)
- 6.5. Others
- 6.5.1. Global Shea Butter Market, by Others, by Region, 2019-2032 (USD Billion)
7. Global Shea Butter Market, by Geography
- 7.1. Key findings
- 7.2. Introduction
- 7.2.1. Shea Butter Market Assessment, By Geography, 2019-2032 (USD Billion)
- 7.3. Shea Butter Market - North America
- 7.3.1. North America: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- 7.3.2. North America: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- 7.3.3. Shea Butter Market - U.S.
- 7.3.3.1. U.S.: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- 7.3.3.2. U.S.: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- 7.3.4. Shea Butter Market - Canada
- 7.3.4.1. Canada: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- 7.3.4.2. Canada: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- 7.4. Shea Butter Market - Europe
- 7.4.1. Europe: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- 7.4.2. Europe: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- 7.4.3. Shea Butter Market - UK
- 7.4.3.1. UK: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- 7.4.3.2. UK: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- 7.4.4. Shea Butter Market - France
- 7.4.4.1. France: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- 7.4.4.2. France: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- 7.4.5. Shea Butter Market - Germany
- 7.4.5.1. Germany: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- 7.4.5.2. Germany: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- 7.4.6. Shea Butter Market - Italy
- 7.4.6.1. Italy: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- 7.4.6.2. Italy: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- 7.4.7. Shea Butter Market - Spain
- 7.4.7.1. Spain: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- 7.4.7.2. Spain: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- 7.4.8. Shea Butter Market - Netherlands
- 7.4.8.1. Netherlands: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- 7.4.8.2. Netherlands: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- 7.4.9. Shea Butter Market - Russia
- 7.4.9.1. Russia: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- 7.4.9.2. Russia: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- 7.5. Shea Butter Market - Asia Pacific
- 7.5.1. Asia Pacific: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- 7.5.2. Asia Pacific: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- 7.5.3. Shea Butter Market - China
- 7.5.3.1. China: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- 7.5.3.2. China: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- 7.5.4. Shea Butter Market - India
- 7.5.4.1. India: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- 7.5.4.2. India: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- 7.5.5. Shea Butter Market - Malaysia
- 7.5.5.1. Malaysia: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- 7.5.5.2. Malaysia: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- 7.5.6. Shea Butter Market - Japan
- 7.5.6.1. Japan: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- 7.5.6.2. Japan: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- 7.5.7. Shea Butter Market - Indonesia
- 7.5.7.1. Indonesia: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- 7.5.7.2. Indonesia: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- 7.5.8. Shea Butter Market - South Korea
- 7.5.8.1. South Korea: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- 7.5.8.2. South Korea: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- 7.6. Shea Butter Market - Middle East & Africa
- 7.6.1. Middle East & Africa: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- 7.6.2. Middle East & Africa: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- 7.6.3. Shea Butter Market - Saudi Arabia
- 7.6.3.1. Saudi Arabia: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- 7.6.3.2. Saudi Arabia: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- 7.6.4. Shea Butter Market - UAE
- 7.6.4.1. UAE: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- 7.6.4.2. UAE: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- 7.6.5. Shea Butter Market - Israel
- 7.6.5.1. Israel: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- 7.6.5.2. Israel: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- 7.6.6. Shea Butter Market - South Africa
- 7.6.6.1. South Africa: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- 7.6.6.2. South Africa: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- 7.7. Shea Butter Market - Latin America
- 7.7.1. Latin America: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- 7.7.2. Latin America: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- 7.7.3. Shea Butter Market - Mexico
- 7.7.3.1. Mexico: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- 7.7.3.2. Mexico: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- 7.7.4. Shea Butter Market - Brazil
- 7.7.4.1. Brazil: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- 7.7.4.2. Brazil: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- 7.7.5. Shea Butter Market - Argentina
- 7.7.5.1. Argentina: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- 7.7.5.2. Argentina: Shea Butter Market, by Product, 2019-2032 (USD Billion)
8. Competitive Landscape
- 8.1. Expansion and Acquisition Analysis
- 8.1.1. Expansion
- 8.1.2. Acquisitions
- 8.2. Partnerships/Collaborations/Agreements/Exhibitions
9. Company Profiles
- 9.1. AAK
- 9.1.1. Company Overview
- 9.1.2. Financial Performance
- 9.1.3. Product Benchmarking
- 9.1.4. Recent Development
- 9.2. Agrobotanicals
- 9.2.1. Company Overview
- 9.2.2. Financial Performance
- 9.2.3. Product Benchmarking
- 9.2.4. Recent Development
- 9.3. BASF
- 9.3.1. Company Overview
- 9.3.2. Financial Performance
- 9.3.3. Product Benchmarking
- 9.3.4. Recent Development
- 9.4. Cargill
- 9.4.1. Company Overview
- 9.4.2. Financial Performance
- 9.4.3. Product Benchmarking
- 9.4.4. Recent Development
- 9.5. Clariant
- 9.5.1. Company Overview
- 9.5.2. Financial Performance
- 9.5.3. Product Benchmarking
- 9.5.4. Recent Development
- 9.6. Croda International
- 9.6.1. Company Overview
- 9.6.2. Financial Performance
- 9.6.3. Product Benchmarking
- 9.6.4. Recent Development
- 9.7. Ghana Nuts Company
- 9.7.1. Company Overview
- 9.7.2. Financial Performance
- 9.7.3. Product Benchmarking
- 9.7.4. Recent Development
- 9.8. Olvea Group
- 9.8.1. Company Overview
- 9.8.2. Financial Performance
- 9.8.3. Product Benchmarking
- 9.8.4. Recent Development
- 9.9. Sophim
- 9.9.1. Company Overview
- 9.9.2. Financial Performance
- 9.9.3. Product Benchmarking
- 9.9.4. Recent Development
- 9.10. Suru Chemicals
- 9.10.1. Company Overview
- 9.10.2. Financial Performance
- 9.10.3. Product Benchmarking
- 9.10.4. Recent Development
List of Tables
- Table 1 Global Shea Butter Market, by Application, 2019-2032 (USD Billion)
- Table 2 Global Shea Butter Market, by Product, 2019-2032 (USD Billion)
- Table 3 Shea Butter Market Assessment, By Geography, 2019-2032 (USD Billion)
- Table 4 North America: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- Table 5 North America: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- Table 6 U.S.: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- Table 7 U.S.: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- Table 8 Canada: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- Table 9 Canada: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- Table 10 Europe: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- Table 11 Europe: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- Table 12 UK: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- Table 13 UK: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- Table 14 France: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- Table 15 France: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- Table 16 Germany: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- Table 17 Germany: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- Table 18 Italy: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- Table 19 Italy: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- Table 20 Spain: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- Table 21 Spain: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- Table 22 Netherlands: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- Table 23 Netherlands: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- Table 24 Russia: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- Table 25 Russia: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- Table 26 Asia Pacific: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- Table 27 Asia Pacific: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- Table 28 China: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- Table 29 China: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- Table 30 India: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- Table 31 India: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- Table 32 Malaysia: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- Table 33 Malaysia: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- Table 34 Japan: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- Table 35 Japan: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- Table 36 Indonesia: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- Table 37 Indonesia: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- Table 38 South Korea: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- Table 39 South Korea: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- Table 40 Middle East & Africa: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- Table 41 Middle East & Africa: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- Table 42 Saudi Arabia: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- Table 43 Saudi Arabia: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- Table 44 UAE: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- Table 45 UAE: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- Table 46 Israel: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- Table 47 Israel: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- Table 48 South Africa: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- Table 49 South Africa: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- Table 50 Latin America: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- Table 51 Latin America: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- Table 52 Mexico: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- Table 53 Mexico: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- Table 54 Brazil: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- Table 55 Brazil: Shea Butter Market, by Product, 2019-2032 (USD Billion)
- Table 56 Argentina: Shea Butter Market, by Application, 2019-2032 (USD Billion)
- Table 57 Argentina: Shea Butter Market, by Product, 2019-2032 (USD Billion)
List of Figures
- Figure 1 Global Shea Butter Market, 2019-2032 (USD Billion)
- Figure 2 Integrated Ecosystem
- Figure 3 Research Methodology: Top-Down & Bottom-Up Approach
- Figure 4 Market by Geography
- Figure 5 Porter's Five Forces
- Figure 6 Market by Application
- Figure 7 Global Shea Butter Market, by Application, 2022 & 2032 (USD Billion)
- Figure 8 Market by Product
- Figure 9 Global Shea Butter Market, by Product, 2022 & 2032 (USD Billion)
- Figure 10 Shea Butter Market Assessment, By Geography, 2019-2032 (USD Billion)
- Figure 11 Strategic Analysis - Shea Butter Market
