Global Shea Butter (Butyrospermum Parkii) Market 2024-2031

Global Shea Butter (Butyrospermum Parkii) Market 2024-2031

Shea Butter (Butyrospermum Parkii) Market Size, Share & Trends Analysis Report by Type (Raw & Unrefined Shea Butter and Refined Shea Butter), and by Application (Cosmetics Industry, Medicine Industry, and Food Industry) Forecast Period (2024-2031)

Shea Butter (Butyrospermum Parkii) market is anticipated to grow at a CAGR of 6.4% during the forecast period (2024-2031). It soothes eczema and dermatitis, forming a protective barrier against moisture loss while nourishing and repairing the skin. Thus, the benefits of shea butter is contributing significantly to the market growth. Additionally, the increasing number of beauty-conscious consumers is leading to market growth. The applications of the products in various sectors such as food processing, cosmetics, and pharmaceuticals are also driving the market growth.

Market Dynamics

Growing demand for Natural Ingredients

The growing awareness about the use of natural and clean products owing to their health benefits is driving the market growth. Also, rising sustainability and environmental concerns are contributing towards market growth. An increase in the attractiveness of unprocessed items, driven by cultural heritage, influence of social media, and wellness trends, are other market drivers.

Rising Health Benefits of Shea Butter

Shea butter contains extraordinary medicinal characteristics that make it the best selection for curing skin disorders such as eczema, psoriasis, or dermatitis. Inflammation-induced shea butter smoothens swollen skin and thus acts as an irritant relief. Furthermore, shea butter has both moisturizing and conditioning characteristics that enable it to avoid cracking while moisturizing dry skin, hence promoting healing. Shea butter neutralizes free radicals, promotes skin regeneration, and minimizes scars and blemishes by utilizing its antioxidant properties. Its anti-inflammatory potential is seen in ailments such as arthritis while its antioxidative potential alleviates symptoms such as fatigue or pain in muscles due to exercise.

Market Segmentation

Our in-depth analysis of the global shea butter (butyrospermum parkii) market includes the following segments by type and application.

Based on type, the market is bifurcated into raw & unrefined shea butter and refined shea butter.

Based on application, the market is sub-segmented into the cosmetics industry, medicine industry, and food industry

Raw & Unrefined Shea Butter Segment to Hold a Considerable Market Share

Raw and unrefined shea butter is a popular choice among consumers who prefer natural and organic skincare products. It retains natural nutrients, has a thick texture, and moisturizing abilities, making it ideal for products targeting dry or sensitive skin. It is also used in other cosmetic formulations and hair care. It appeals to consumers seeking authentic, eco-friendly, and skin-friendly alternatives in their beauty routines, owing to its natural origin and minimal processing. Raw and unrefined shea butter is versatile and can be used in hair care, lip balms, soaps, and other personal care products.

Regional Outlook

The global shea butter (Butyrospermum Parkii) market is further segmented based on geography including North America (the US, and Canada), Europe (the UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).

Asia-Pacific is Expected to Grow Rapidly

The Asia Pacific Butyrospermum Parkii market is experiencing substantial growth, driven by several factors. Rising disposable incomes and increasing health awareness in China are fueling demand for natural skincare products. In Japan and South Korea, there is a growing trend towards incorporating natural and traditional ingredients such as Butyrospermum Parkii into skincare formulations. In India, consumers embrace natural and organic skincare solutions, driven by a desire for safer and more sustainable products. Other countries in the region, such as Thailand, Indonesia, and Malaysia, are also emerging as key players in the market.

North America Holds Major Market Share

The Butyrospermum Parkii market in North America is thriving attributed to several factors, including a strong economy, an established consumer base, and a growing preference for clean beauty and natural skincare products. The region has numerous research institutions dedicated to studying skincare ingredients, supporting the development of advanced products with improved efficacy. The US is a major driver due to its large population, strong economy, and consumer preference for natural skincare products. Canada also contributes significantly to the market, with a growing demand for natural solutions.

Market Players Outlook

The major companies serving the global shea butter (Butyrospermum Parkii) market include Cargill, Inc., The Savannah Fruits Co., Vink Chemicals GmbH & Co. KG, BASF Personal Care and Nutrition GmbH and Wilmar International Ltd., among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers and acquisitions to stay competitive in the market.