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Shea butter is a vegetable fat extracted from the sun dried kernels of shea tree vitellaria paradoxa which is largely found in African countries and is available in refined and unrefined form. It contains essential fatty acids such as oleic and stearic along with saponifiables including phenols and sterols which provide moisturising properties. It has a better absorption rate that its substitute cocoa butter and has wide application potential in sunscreen products.
Shea butter helps in reducing cholesterol, arthritis symptoms and has anti-diarrheal properties which will support its application in pharmaceutical application. Growing demand for healthy products along with dietary supplements which will aid daily health management supported by increase in product research in pharma industry will escalate industry growth.
Increase in product usage in men grooming segment such as beard softener along with shave and post shave care is likely to enhance market size. Surging beauty consciousness among men along with availability of variety of products in easily accessible retail channels will act as major driving factor thus promoting shea butter demand.
Shea butter acts as vital ingredients in eczema and acne formulations to lock moisture and treat acne. Its anti-inflammatory properties help in healing swelling of insect bites. Shea butter also finds application in hair care products where it helps in sealing moisture, conditioning scalp, alleviating dandruff, defining curl and dreaded frizz. Growing hair problems due to excessive styling will favour product demand in this application.
The report analyses the global shea butter market based on product, application and geography
Various product studied are segmented into unrefined and refined. Refined shea butter is naturally extracted butter which goes through additional refinement process. It is white in colour and has no odor. These products are easier to work with and are used to extend product shelf life.
Furthermore, the major application considered in the study is cosmetics & personal care, pharmaceuticals and food & beverages. Positive application outlook in food & beverage industry to produce ice cream, chocolate and biscuits will accelerate market growth. Increasing bakery and confectionery product consumption owing to rising product innovations and expanding retail channels is likely to have positive impact on product demand as a potential low cost substitute for cocoa butter and vegetable oil.
The global market is studied for the key regions such as, North America, Europe, Asia Pacific and Rest of the World. Europe is the lucrative region and a major consumer for shea butter market which is likely to witness robust gains over the foreseeable timeframe. The major driving factor for shea butter demand in Europe is increasing usage of natural and organic skin and hair care products. France, Netherlands, Germany, Denmark and Italy are the major importers of shea butter supported by growing investments in shea butter incorporated product range mainly in cosmetics and personal care applications will surge regional product demand.
The key players in the Shea Butter market includes BASF SE, Olvea Group, Sophim S.A,Cargill, Incorporated, Suru Chemicals, Croda International Plc, Clariant AG, AAK AB, Cornelius Group plc, Ghana Nuts Co. Ltd, International Oils & Fats Limited, Akoma Cooperative Multipurpose Society, SHEBU Industries Limited and Baraka Shea Butter. Major industry participants are engaged in product innovation along with strategic partnerships and collaborations.
For instance, in 2019, AAK introduced liquid shea butter under brand name Lipex shealiquid TR which saves upto 30% production time and 50% energy as compared to solid shea butter. The ingredient is also fully traceable to its origin. These initiatives will enhance product offering and foster market position of the company.
The report analyses the global shea butter market based on product, application and geography. Various product studied are segmented into unrefined and refined. Furthermore, the major application considered in the study is cosmetics & personal care, pharmaceuticals and food & beverages
The global market is studied for the key regions such as, North America, Europe, Asia Pacific and Rest of the World. North America comprises of U.S., Canada and Mexico. Whereas, Europe covers UK, France, Germany, Italy, Spain and Rest of Europe. The key countries included under Asia Pacific are China, India, Japan and Rest of Asia Pacific. The Rest of the world include Latin America and Middle East & Africa.
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