Shea Butter Comprehensive Study
Saurabh More
Senior Research Analyst @ AMA Research & Media | Business Insights, Market Segmentation
About Shea Butter
Shea butter, a fat that is extracted from the nut of the African shea tree. Shea butter possess various healing properties. Shea butter is free of any artificial chemicals & is made of stearic acid and oleic acid. Shea butter is used widely in the cosmetic products like skin moisturizers, hair conditioners as well as lip gloss. Furthermore, it is used in various industries including food & healthcare. Shea butter is edible & is used in food preparation in certain African countries. Sometimes, shea butter is mixed with other oils as a substitute for cocoa butter, though the taste is remarkably different. Shea butter finds use as a substitute to vegetable oil in many applications including food processing, cosmetics, pharmaceuticals, and retail.
The demand for Inflight Internet Services is increasing due to the rising of Inflight Entertainment by each passing day. Businesses in this sector face global competition from market leaders who control a large share of the market. The Leading Players are engaged in organic and non-organic strategic global expansion to maintain their Market Position. Analyst at AMA Research estimates that Ghana, French, German, and United States Vendors will contribute the maximum growth to Global Shea Butter market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.The Savannah Fruits Company (Ghana), Ghana Nuts Company Limited (Ghana), Bunge Loders Croklaan (The Netherlands), Cargill, Incorporated (United States), Hallstar Company (United States), Clariant AG (Switzerland), AAK AB (Sweden), Olvea Group (France), The Archer Daniels Midland Company (United States) and BASF SE (Germany) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Croda International Plc (United Kingdom), Abart Agro Products (United States) and Sophim S.A. (France).
Segmentation Overview
AMA Research has segmented the market of Global Shea Butter market by Type (Raw and Unrefined Shea Butter and Refined Shea Butter), Application (Cosmetics, Medicine, Food and Others) and Region.On the basis of geography, the market of Shea Butter has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). MEA region held largest market share in the year 2023. If we see Market by Distribution Channel, the sub-segment i.e. Hypermarket will boost the Shea Butter market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Quickly Progressing Online Retail to Drive Prominence of Shea Butter in Cosmetics
Market Growth Drivers:
Growing Preference for Shea Butter as a Potential Substitute to Vegetable Oil, Over Relatively Expensive Cocoa Butter, Growing Chocolate Consumption and Rising Application of Shea Butter in the Bakery Industry
Challenges:
Health concern
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Restraints:
Availability of Substitutes, Like Avocado Butter, Mango Butter, and Cupuacu Butter
Opportunities:
Increasing Urbanization & Modernization in Emerging Economies Strengthening the Food and Beverage Industry and Rising Demand for Cosmetics and Personal Care Products from Asia-Pacific Nations
Market Leaders and their expansionary development strategies
In June 2023, SheaMoisture is teaming up with The Roku Channel and MACRO Television Studios to debut "The Next Black Millionaires," a docuseries that captures the journey of three ambitious entrepreneurs growing their passions into million-dollar businesses.In April 2023, Hairitage by Mindy McKnight, a pioneer in inclusive haircare, is excited to announce its expansion into new categories with the launch of the NEW Bath & Body Collection, available exclusively at Walmart. Continuing to highlight founder Mindy McKnight's philosophy of providing products tailored to everyone's unique needs, this collection contains clean formulas and is infused with naturally derived ingredients.
Key Target Audience
Shea Butter Manufacturers, Raw Materials Suppliers, Government and Research Organizations, Industry Associations, Food Industry, Cosmetics Industry and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.