Shea butter is a naturally occurring fat extract from the shea tree of the African deserts. It is most commonly bleached yellow with other oils or with cocoa butter when raw, but it's always ivory in color when fully processed. It's widely used in cosmetics worldwide, either as a moisturizer, salve or cream. Shea nuts are native to Africa and were used for centuries as part of a diet. Today, they're grown all over the world, harvested mostly for cosmetic use. The shea butter that is produced is from a single nut, not a group of related nuts, and is therefore extremely rare and exotic. A tiny red pore on the underside of a shea nut will contain a network of essential oils, which is the key to its health benefits. These oils are extremely powerful antiseptics and help combat the common conditions associated with dry skin.
Market Dynamics
Launch of shea-based premium cocoa butter equivalent is expected to propel growth of the shea butter market. For instance, in December 2020, Netherlands-based specialist oils and fats group Bunge Loders Croklaan launched its Karibon, patent-pending 100% shea-based premium Cocoa Butter Equivalent. Moreover, increasing focus on aesthetic appeal is also expected to aid in growth of the market. For instance, according to a 2018 survey by GlobalData, around three quarters of South Korean men undertake a beauty or grooming treatment at least once a week.
Increasing expenditure on personal care products is expected to offer lucrative growth opportunities for players in the shea butter market. For instance, according to the U.S. Bureau of Labor Statistics, average annual expenditure on personal care products in the U.S. increased from US$ 707 in 2016 to US$ 768 in 2018. Moreover, significant growth in the e-commerce sector is also expected to aid in growth of the market. For instance, according to India Brand Equity Foundation, the e-commerce sector in India is expected to reach US$ 200 billion by 2026 from US$ 38.5 billion as of 2017.
Competitive Analysis
Major players operating in the shea butter market include, Star Shea Ltd., Bread For Life, All Pure Nature Ltd. Lovinah Naturals Shea Radiance, Jedwards International, Inc., Maison Karite Sociedad Limitada, Vink Chemicals Gmbh & Co. Kg, Shebu Industries, Shea Therapy Ltd, and The Pure Company.
In-depth report on Shea Butter Market by Coherent Market Insights:
https://www.coherentmarketinsights.com/ongoing-insight/shea-butter-market-1583
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