Global Shea Butter Market Size Analysis, 2018-2028
|REPORT ID: BKR667||Domain: Food & Beverages||Published Date: April 2018|
Global Shea Butter Market Size Analysis
The global Shea Butter market size is estimated to grow at a CAGR of 6.9% during the forecast period 2018-2028. On an average, Shea Butter Market players will be able to generate 1.8X higher revenue by the end of 2028 as compared to that in 2017.
These are vegetable oil that comes from the fruit of the Shea tree, a native tree found growing in the wild in approximately twenty African countries and that is extremely difficult to cultivate. Shea butter market demand has increased in last few years with emergence of new players and as a result, competition has heightened in last few years. However, return on investment in the industry is significantly high across value chain. While manufacturers generate around 18% to 25% as net profit, distributors are able to gain 8% to 14% profit. Companies are focusing on strengthening their distribution channel to ensure long term profitability.
Global Shea Butter Market Drivers and Challenges
Global shea butter market size is driven by various factors – with most prominent being the personal care industry. Many leading personal care manufacturers are leveraging the ingredients owing to consumer optimistic outlook towards the natural ingredients. As per the estimates, sales of natural ingredients is witnessing upward traction with average annual growth of 7.8%. The trend is expected to continue throughout the forecast period.
Global Shea Butter Market Analysis, By Application
Based on application, the industry is analyzed across personal care, supplements, medical and others. Personal care dominated the global share and will continue to lead the share throughout the forecast period. Medicinal usage will register fastest growth during the forecast period.
Global Shea Butter Market Size and Forecast: Regional Analysis
Globally, North America will dominate the world global size throughout the forecast period. The demand for these butter is met through import from Africa especially Nigeria and South Africa. As per the estimates, the region accounted for over 37% of global demand in 2017.
Western Europe will be next to North America in terms of overall demand. It is highly sought in the region owing to its moisturizing features – making it suitable for skin care products. There are hundreds of companies using Shea butter for processing.
Asia Pacific will register fastest growth during the forecast period. Demand will escalate with localization of personal care industry in China and India along with presence of numerous small and mid-scale players expected to leverage the ingredient for business expansion.
Global Shea Butter Market Size and Forecast: Competition Landscape
Some of the key Shea Butter market industry players are Bread For Life, Jedwards International, Inc., Star Shea Ltd., Shea Radiance, VINK CHEMICALS GMBH & CO. KG, All Pure Nature Ltd. , Lovinah Naturals, Shebu Industries, Maison Karite Sociedad Limitada, The Pure Company etc., and Shea Therapy Ltd.
The industry will be competitive with emergence of new players. As such, already established companies need to strengthen their distribution channels to ensure consistent high return on investment (ROI) throughout the forecast period.
Shea Butter Market Data and Research Scope
- Personal Care