October 29, 2019
According to the latest study titled ‘Global Shea Butter Market (Volume, Value) - Analysis By Type (Refined, Raw and Un-Refined), Nature (Organic, Conventional), End-User, Distribution Channel, By Region, By Country (2019 Edition): Opportunities and Forecast (2019-2024)’ available at MarketStudyReport.com, the global shea butter market is presumed to accumulate substantial growth by the year 2024.
Shea butter is used as a source of stearic acid in chocolate and cosmetics industry. Increasing urban population, surging disposable income, coupled with increasing demand for chocolate across emerging nations are key factors augmenting the growth of shea butter market. Shifting lifestyle trends, rising inclination towards personal care, in consort with growing awareness regarding the benefits and applications of product, and its subsequent demand is further aiding the market growth.
As per the report, shea butter market is anticipated to grow with a CAGR of 6.27% and the production volume is projected to increase by 7.9% by the year 2024. The study examines the market for revenue shares for each segment and offers growth patterns in terms of volume and value. It identifies and analyses the emerging trends along with major drivers, challenges and growth opportunities influencing shea butter market.
Based on type, shea butter market is bifurcated into refined, raw, and unrefined. While based on end-user spectrum, the industry is divided into food processing, cosmetics & personal care, and pharmaceuticals.
In terms of nature type, shea butter industry is categorized as organic and conventional. Whereas, on the basis of distribution channel, the market is split into specialty stores, convenience stores, hypermarket/supermarket, online channel, and others.
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Considering the geographical landscape, the global shea butter market is fragmented into four major regions as North America, Europe, APAC, and rest of the world, with main focus on Canada, U.S., Brazil, Germany, UK, France, China, Italy, India, and South Korea.
Some of the vendors that operate in shea butter market are SeKaf Ghana Limited, AAK, Fuji Oil Holdings Inc., Ojoba Collective, Ghana Nuts, Savannah Fruits Company, Timiniya Tuma Company Ltd., Bunge Ltd., Akoma Cooperative Multipurpose Society, and IOI Group.
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