Shea Butter Market - Overview and Outlook by Potential Growth (2024-2032)

Shea Butter Market Synopsis:

Shea Butter Market Size Was Valued at USD 2.2 Billion in 2023, and is Projected to Reach USD 4.04 Billion by 2032, Growing at a CAGR of 7% From 2024-2032.

Shea butter is a fat that is procured from the seeds or nuts of the shea tree, an indigenous tree in Africa, scientifically known as Vitellaria paradoxa. Well acclaimed for their qualities, shea butter is widely used in the following industries namely; cosmetics, personal care, pharmaceutical and food. Packed with vitamin A and E, Omega fatty acids, and antioxidants this oil is widely used in beauty care products as moisturizers, anti-inflammatory and anti-aging. Also its edible and nutritional properties have provided it ground to be used in confectioneries, chocolates and cooking oils. The market for shea butter still remains open throughout the world because of the rising knowledge of the natural standard of the good.

Hence, the Global shea butter market is set to grow at a fast pace over the next decade due to the growing use of natural and organic products all over the world. Since consumers are increasingly aware of the harm synthetic ingredients cause to the environment shea butter is a harmless and versatile product. The largest consumer of shea butter is cosmetics and personal care industries in which it is used in creams, lotions, soaps and shampoos. In addition to that, it has a therapeutic value and it is perfect for sensitive skin, which makes it popular in the list of the most demanded products by premium brands.

Additionally, the food industry has been using the shea butter as cocoa butter substitute especially in, manufacture of chocolates. This material has a high melting point that makes it a valuable ingredient it is also creamy and contains nutrition. The increased size of the lower-middle income population needed for food and beverage, along with a growing population of health-conscious individuals, is the driving force for shea butter. Moreover, as the pharma Industries come up with research work on the functionality of the shea butter in the cure and control of inflamation and healing,it is expected it’s usage as a base in ointments and balms will increase.

Shea Butter Market Trend Analysis:

The Shift Toward Sustainable and Ethical Sourcing

• There are also emerging trends in the shea butter market where there has been emphasis on the issue of sustainability and fair trade. Today there are many large and small manufacturing organizations and brands that work with African villages, providing for fair trade, and supporting women’s cooperatives and environmentally friendly production. This shift also guarantees that good shea butter gets to market and may also act as a bonus of improving the appeal to consumers with conscience. In addition, the increasing popularity of clean beauty products and the increasing trend towards vegan products are driving the market, as the butter complies with these trends in that it is cruelty-free and environmentally friendly.

Expansion of Shea Butter in the Pharmaceutical Industry

• The most promising segment in the shea butter market is pharmaceutical sector. Shea butter thus makes a good ingredient for medical use since it has anti inflammatory effects and can heal wounds and is also moisturizing. With the rise of natural and plant based products used in pharmaceuticals, shea butter is now used in topical creams, ointments and balms for use in skin diseases, scalds and simple injuries. Furthermore, current and future research to unlock the medicinal values of shea butter will open new business opportunities in the next few years for key actors in the industry.

Shea Butter Market Segment Analysis:

Shea Butter Market is Segmented on the basis of Type, Application, End User, and Region

By Type, Raw/Unrefined segment is expected to dominate the market during the forecast period

• The unrefined segment of shea butter is expected to dominate the global market throughout the forecast period as it contains better nutritional value and has a natural component. While the refined shea butter is a product of processing, this product has gone through extensive processing to remove unpleasant substances that makes shea butter nutritious for skin and hair it retains its nutrients vitamins, antioxidants and fatty acids. This type of shea butter is most popular among those looking for natural shea butter that contains no chemicals.
• Furthermore, there is constant demand for the raw shea butter especially in the small scale industries and skincare production companies who exploits the natural and natural environmental friendly prospects of shea butter in the market. Another reason for the growth of this segment is that the trend of creating DIY skincare and hair care products is ever rising because consumers are more inclined towards raw materials and multi utility products that can be used according to their requirement.

By Application, Cosmetics & Personal Care segment expected to held the largest share

• More specifically, the cosmetics and personal care category occupies the largest shea butter market share because this ingredient is widely used in skin and hair care products, as well as in cosmetics. For this reason, shea butter is very beneficial in creams, lotions, lip balm, shampoo, and conditioner since it offers moisturizing, anti aging, and healing benefits. As more and more targeted consumers preferred clean and environmentally friendly cosmetic products, shea butter for this category has developed rapidly.
• Also, special attention must be paid to the growing demand for clean beauty products due to the rejecting of chemical cosmetics by various brands and customers. The continuous new formulations of products and expansion of shea butter in multi-purpose cosmetics in the beauty care segment are expected to boost its presence in the market.

Shea Butter Market Regional Insights:

North America is Expected to Dominate the Market Over the Forecast period

• North America became the leading region in the market for shea butter in 2023, having a market share of about 35 percent globally. This is because the region enjoys high demand for natural and organic products especially in the cosmetics and personal care industry integrated with well-developed manufacturers. The enhanced acceptance of clean-label beauty and skincare products in the U.S and Canada market have also added to boost the demand for shea butter. Also, the market for food related products has aided by the interest shown by the food industry in shea butter under cocoa butter equivalent.

Active Key Players in the Shea Butter Market:

• BASF SE (Germany)
• Bunge Loders Croklaan (Netherlands)
• Cargill Inc. (United States)
• Ghana Nuts Company Limited (Ghana)
• International Oils & Fats Limited (Ghana)
• IOI Loders Croklaan (Netherlands)
• Koster Keunen Inc. (United States)
• L'Oréal S.A. (France)
• Mali Shea Products (Mali)
• OLVEA Group (France)
• Pioneer Natural Products (Ghana)
• Seppic (France)
• Sophim (France)
• StarShea Network (Ghana)
• The Savannah Fruits Company (Ghana), and Other Active Players.

Chapter 1: Introduction
 1.1 Scope and Coverage

Chapter 2:Executive Summary

Chapter 3: Market Landscape
 3.1 Market Dynamics
  3.1.1 Drivers
  3.1.2 Restraints
  3.1.3 Opportunities
  3.1.4 Challenges
 3.2 Market Trend Analysis
 3.3 PESTLE Analysis
 3.4 Porter's Five Forces Analysis
 3.5 Industry Value Chain Analysis
 3.6 Ecosystem
 3.7 Regulatory Landscape
 3.8 Price Trend Analysis
 3.9 Patent Analysis
 3.10 Technology Evolution
 3.11 Investment Pockets
 3.12 Import-Export Analysis

Chapter 4: Shea Butter Market by Type
 4.1 Shea Butter Market Snapshot and Growth Engine
 4.2 Shea Butter Market Overview
 4.3 Raw/Unrefined
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 Raw/Unrefined: Geographic Segmentation Analysis
 4.4 Refined
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4 Refined: Geographic Segmentation Analysis

Chapter 5: Shea Butter Market by Application
 5.1 Shea Butter Market Snapshot and Growth Engine
 5.2 Shea Butter Market Overview
 5.3 Cosmetics & Personal Care
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Cosmetics & Personal Care: Geographic Segmentation Analysis
 5.4 Food
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Food: Geographic Segmentation Analysis
 5.5 Others
  5.5.1 Introduction and Market Overview
  5.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.5.3 Key Market Trends, Growth Factors and Opportunities
  5.5.4 Others: Geographic Segmentation Analysis

Chapter 6: Company Profiles and Competitive Analysis
 6.1 Competitive Landscape
  6.1.1 Competitive Benchmarking
  6.1.2 Shea Butter Market Share by Manufacturer (2023)
  6.1.3 Industry BCG Matrix
  6.1.4 Heat Map Analysis
  6.1.5 Mergers and Acquisitions  
 6.2 BASF SE (GERMANY)
  6.2.1 Company Overview
  6.2.2 Key Executives
  6.2.3 Company Snapshot
  6.2.4 Role of the Company in the Market
  6.2.5 Sustainability and Social Responsibility
  6.2.6 Operating Business Segments
  6.2.7 Product Portfolio
  6.2.8 Business Performance
  6.2.9 Key Strategic Moves and Recent Developments
  6.2.10 SWOT Analysis
 6.3 BUNGE LODERS CROKLAAN (NETHERLANDS)
 6.4 CARGILL INC. (UNITED STATES)
 6.5 GHANA NUTS COMPANY LIMITED (GHANA)
 6.6 INTERNATIONAL OILS & FATS LIMITED (GHANA)
 6.7 IOI LODERS CROKLAAN (NETHERLANDS)
 6.8 KOSTER KEUNEN INC. (UNITED STATES)
 6.9 L'ORÉAL S.A. (FRANCE)
 6.10 MALI SHEA PRODUCTS (MALI)
 6.11 OLVEA GROUP (FRANCE)
 6.12 PIONEER NATURAL PRODUCTS (GHANA)
 6.13 SEPPIC (FRANCE)
 6.14 SOPHIM (FRANCE)
 6.15 STARSHEA NETWORK (GHANA)
 6.16 THE SAVANNAH FRUITS COMPANY (GHANA)
 6.17 OTHER ACTIVE PLAYERS

Chapter 7: Global Shea Butter Market By Region
 7.1 Overview
 7.2. North America Shea Butter Market
  7.2.1 Key Market Trends, Growth Factors and Opportunities
  7.2.2 Top Key Companies
  7.2.3 Historic and Forecasted Market Size by Segments
  7.2.4 Historic and Forecasted Market Size By Type
  7.2.4.1 Raw/Unrefined
  7.2.4.2 Refined
  7.2.5 Historic and Forecasted Market Size By Application
  7.2.5.1 Cosmetics & Personal Care
  7.2.5.2 Food
  7.2.5.3 Others
  7.2.6 Historic and Forecast Market Size by Country
  7.2.6.1 US
  7.2.6.2 Canada
  7.2.6.3 Mexico
 7.3. Eastern Europe Shea Butter Market
  7.3.1 Key Market Trends, Growth Factors and Opportunities
  7.3.2 Top Key Companies
  7.3.3 Historic and Forecasted Market Size by Segments
  7.3.4 Historic and Forecasted Market Size By Type
  7.3.4.1 Raw/Unrefined
  7.3.4.2 Refined
  7.3.5 Historic and Forecasted Market Size By Application
  7.3.5.1 Cosmetics & Personal Care
  7.3.5.2 Food
  7.3.5.3 Others
  7.3.6 Historic and Forecast Market Size by Country
  7.3.6.1 Russia
  7.3.6.2 Bulgaria
  7.3.6.3 The Czech Republic
  7.3.6.4 Hungary
  7.3.6.5 Poland
  7.3.6.6 Romania
  7.3.6.7 Rest of Eastern Europe
 7.4. Western Europe Shea Butter Market
  7.4.1 Key Market Trends, Growth Factors and Opportunities
  7.4.2 Top Key Companies
  7.4.3 Historic and Forecasted Market Size by Segments
  7.4.4 Historic and Forecasted Market Size By Type
  7.4.4.1 Raw/Unrefined
  7.4.4.2 Refined
  7.4.5 Historic and Forecasted Market Size By Application
  7.4.5.1 Cosmetics & Personal Care
  7.4.5.2 Food
  7.4.5.3 Others
  7.4.6 Historic and Forecast Market Size by Country
  7.4.6.1 Germany
  7.4.6.2 UK
  7.4.6.3 France
  7.4.6.4 The Netherlands
  7.4.6.5 Italy
  7.4.6.6 Spain
  7.4.6.7 Rest of Western Europe
 7.5. Asia Pacific Shea Butter Market
  7.5.1 Key Market Trends, Growth Factors and Opportunities
  7.5.2 Top Key Companies
  7.5.3 Historic and Forecasted Market Size by Segments
  7.5.4 Historic and Forecasted Market Size By Type
  7.5.4.1 Raw/Unrefined
  7.5.4.2 Refined
  7.5.5 Historic and Forecasted Market Size By Application
  7.5.5.1 Cosmetics & Personal Care
  7.5.5.2 Food
  7.5.5.3 Others
  7.5.6 Historic and Forecast Market Size by Country
  7.5.6.1 China
  7.5.6.2 India
  7.5.6.3 Japan
  7.5.6.4 South Korea
  7.5.6.5 Malaysia
  7.5.6.6 Thailand
  7.5.6.7 Vietnam
  7.5.6.8 The Philippines
  7.5.6.9 Australia
  7.5.6.10 New Zealand
  7.5.6.11 Rest of APAC
 7.6. Middle East & Africa Shea Butter Market
  7.6.1 Key Market Trends, Growth Factors and Opportunities
  7.6.2 Top Key Companies
  7.6.3 Historic and Forecasted Market Size by Segments
  7.6.4 Historic and Forecasted Market Size By Type
  7.6.4.1 Raw/Unrefined
  7.6.4.2 Refined
  7.6.5 Historic and Forecasted Market Size By Application
  7.6.5.1 Cosmetics & Personal Care
  7.6.5.2 Food
  7.6.5.3 Others
  7.6.6 Historic and Forecast Market Size by Country
  7.6.6.1 Turkiye
  7.6.6.2 Bahrain
  7.6.6.3 Kuwait
  7.6.6.4 Saudi Arabia
  7.6.6.5 Qatar
  7.6.6.6 UAE
  7.6.6.7 Israel
  7.6.6.8 South Africa
 7.7. South America Shea Butter Market
  7.7.1 Key Market Trends, Growth Factors and Opportunities
  7.7.2 Top Key Companies
  7.7.3 Historic and Forecasted Market Size by Segments
  7.7.4 Historic and Forecasted Market Size By Type
  7.7.4.1 Raw/Unrefined
  7.7.4.2 Refined
  7.7.5 Historic and Forecasted Market Size By Application
  7.7.5.1 Cosmetics & Personal Care
  7.7.5.2 Food
  7.7.5.3 Others
  7.7.6 Historic and Forecast Market Size by Country
  7.7.6.1 Brazil
  7.7.6.2 Argentina
  7.7.6.3 Rest of SA

Chapter 8 Analyst Viewpoint and Conclusion
8.1 Recommendations and Concluding Analysis
8.2 Potential Market Strategies

Chapter 9 Research Methodology
9.1 Research Process
9.2 Primary Research
9.3 Secondary Research