July 15, 2020
According to the research report titled ‘Global Shea Butter Market (Volume, Value) - Analysis By Type, Nature, End-User, Distribution Channel, By Region, By Country (2019 Edition): Opportunities and Forecast (2019-2024)’, available with Market Study Report LLC, global shea butter market is expected to grow with a CAGR of 6.27% and record 7.90% increase by volume between the 2019 and 2024.
Growing demand for chocolates and chocolate-based products along with rising urban population have impelled the demand for shea butter, which in turn is a major factor driving the growth of the market. Increasing consumption of nutritious and healthy food in tandem with surging disposable income is also accelerating the expansion of the market. Proliferating sales of personal care products as well as cosmetics is also stimulating the industry outlook.
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As per type, global shea butter industry is bifurcated into un-refined, raw and refined. In terms of nature, the market is divided into conventional and organic.
The end-user scope of shea butter market comprises of pharmaceuticals, food processing and cosmetics & personal care. Whereas based on distribution channel, the market is categorized into convenience stores, online channel, specialty stores, hypermarkets/supermarkets and others.
Highlighting the regional scope, worldwide shea butter market is classified into Asia-Pacific, Europe, North America and Rest of the World, with key focus on regions such as South Korea, India, China, Italy, France, Germany, UK, Brazil, Canada and the U.S.
According to the report, U.S., Germany and U.K hold a substantial share in the overall market and are predicted to witness consistent growth throughout the forecast period.
Akoma Cooperative Multipurpose Society, Timiniya Tuma Company Ltd. (TT), Bunge Ltd., IOI Corporation Berhad, Ghana Nuts Company Limited, The Savannah Fruits Company, Fuji Oil Holdings Inc., Ojoba Collective, SeKaf Ghana Limited and AAK AB are the major companies in global shea butter market.