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Global Shea Butter Market Size, Share, Analysis, Forecast: By Type: Raw and Unrefined, Refined; By Application: Food, Cosmetics and Personal Care, Pharmaceutical, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Competitive Landscape; 2024-2032
Global Shea Butter Market Outlook
The global shea butter market size reached approximately USD 2.04 billion in 2023. The market is estimated to grow at a CAGR of 8.60% in the forecast period of 2024-2032, reaching a value of around USD 4.3 billion by 2032.
Key Trends in the Market
Shea butter is a fatty substance that is extracted from the nuts of the shea tree and mostly finds usage in the cosmetic and personal care sector. It has an off-white or ivory colour and is rich in vitamins and fatty acids, which makes it good for the skin.
- Growing demand for organic and natural shea butter products, which are composed of naturally occurring ingredients and do not contain any harmful chemicals or toxins, is one of the prominent shea butter market trends.
- The burgeoning popularity of shea butter in bakery products such as bread, cakes, pastries, and cookies, among others, to provide them with a smooth and creamy texture and offer a healthier alternative to conventional butter is another trend aiding the market expansion.
- Shea butter also finds applications in hair care products such as shampoo, conditioners, and hair masks as its moisturising nature makes it suitable for the prevention of dryness, roughness, and split ends in hair.
- Strategic initiatives by several market players such as responsible sourcing of shea kernel by minimising deforestation and promoting sustainability also contribute to shea butter market growth.
Market Analysis
Based on type, the market is bifurcated into raw and refined and refined. The shea butter market segmentation, on the basis of application, includes food, cosmetics and personal care, and pharmaceutical, among others. The major regional markets of shea butter are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the shea butter market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Fuji Oil Holdings Inc.
- 3F Industries Limited
- BASF SE
- OLVEA Vegetable Oils SAS
- Cargill, Incorporated
- Croda International Plc
- Ghana Nuts Company Ltd.
- Sophim Iberia S.L.
- AAK AB
- Bunge Limited
- Others
Market Share by Application
The cosmetics and personal care sector occupies a significant portion of the shea butter market share, due to the growing incorporation of the product in lotions, creams, soaps, and cosmetic items as a moisturising agent. It can also be used as an anti-inflammatory agent in skincare products to provide relief from inflammation and irritation.
Meanwhile, the food sector is expected to witness robust growth in the upcoming years, owing to the rising usage of shea butter in chocolates and other confectionary products to enhance their texture.
Market Share by Region
As per the shea butter market analysis, Europe accounts for a substantial share of the global market, owing to the widespread usage of shea butter in end-use sectors such as food and beverages and cosmetics. With the advent of the clean beauty trend in the region, several regional market players are offering naturally sourced shea butter free of toxic substances.
Subsequently, the Asia Pacific is expected to gain sizeable growth in the forecast period, due to the growing penetration of high-quality skincare products.
Competitive Landscape
Fuji Oil Holdings Inc., founded in 1950, is a holding company of Fuji Group, headquartered in Osaka, Japan. Some of its major products include vegetable oil and fats, soy-based ingredients, fermented ingredients, and industrial chocolate.
3F Industries Limited, established in 1960 and based in Andhra Pradesh, India, is a major provider of edible oils, speciality fats, and bakery fats. Some of its major brands include Supra Lite, Supra Crème, Supra Magic, and Ezyfry, among others.
BASF SE is a multinational chemical company that was incorporated in 1865 as Badische Anilin- und Sodafabrik. The company, with its headquarters in Ludwigshafen, Germany, aims to achieve net-zero emissions by expanding its sustainable product line.
Other shea butter market players include OLVEA Vegetable Oils SAS, Cargill, Incorporated, Croda International Plc, Ghana Nuts Company Ltd., Sophim Iberia S.L., AAK AB, and Bunge Limited, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Shea Butter Market Analysis
8.1 Key Industry Highlights
8.2 Global Shea Butter Historical Market (2018-2023)
8.3 Global Shea Butter Market Forecast (2024-2032)
8.4 Global Shea Butter Market by Type
8.4.1 Raw and Unrefined
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Refined
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Shea Butter Market by Application
8.5.1 Food
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Cosmetics and Personal Care
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Pharmaceutical
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Others
8.6 Global Shea Butter Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Shea Butter Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Shea Butter Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Shea Butter Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Shea Butter Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Shea Butter Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Fuji Oil Holdings Inc.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 3F Industries Limited
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 BASF SE
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 OLVEA Vegetable Oils SAS
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Cargill, Incorporated
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Croda International Plc
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Ghana Nuts Company Ltd.
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Sophim Iberia S.L.
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 AAK AB
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 Bunge Limited
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Shea Butter Market: Key Industry Highlights, 2018 and 2032
2. Global Shea Butter Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Shea Butter Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Shea Butter Historical Market: Breakup by Application (USD Billion), 2018-2023
5. Global Shea Butter Market Forecast: Breakup by Application (USD Billion), 2024-2032
6. Global Shea Butter Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global Shea Butter Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America Shea Butter Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America Shea Butter Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe Shea Butter Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe Shea Butter Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific Shea Butter Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific Shea Butter Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America Shea Butter Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America Shea Butter Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa Shea Butter Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa Shea Butter Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Global Shea Butter Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 2.04 billion.
The market is projected to grow at a CAGR of 8.60% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of around USD 4.3 billion by 2032.
The major market drivers are the growth of the cosmetic sector, the rise in disposable income, and the increased implementation of shea butter as an alternative to edible oil.
The key trends of the market include growing demand for organic and natural skincare products, the burgeoning popularity of shea butter in bakery products, and growing applications of shea butter in hair care products.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Different types of shea butter are raw and refined and refined.
The key players in the market are Fuji Oil Holdings Inc., 3F Industries Limited, BASF SE, OLVEA Vegetable Oils SAS, Cargill, Incorporated, Croda International Plc, Ghana Nuts Company Ltd., Sophim Iberia S.L., AAK AB, and Bunge Limited, among others.
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