Shea butter is a fat which is extracted from nuts of the African shea tree named Vitellaria paradoxa. The process of extracting shea butter from nut involves various processes such as cracking, crushing, roasting, grinding, separating the oils and collecting and shaping the products. Shea butter is solid and usually yellow in color and has various uses in end use industries such as food and cosmetics. This is because of high content of vitamin A and vitamin E in shea butter that helps to improve skin condition, wrinkles, dermatitis, and is also helpful in various hair related products.
Increasing inclination of consumers towards natural products such as shea butter, and rising demand for shea butter from various end use industries such as cosmetics and food & beverages are key factors driving growth of the global shea butter market. In addition, around 80% of shea butter demand is expected to be from the confectionary industry – providing chocolate manufacturers as an alternative to cocoa butter and, shea butter is also used in pancakes and toasts due to its rich flavor which are major factors contributing to growth of the global shea butter market.
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However, high cost of shea butter products is a key factor restraining growth of the global shea butter market. Additionally, availability of a number of substitutes for shea butter in the market that are cost-effective, and are easily available for customers are other major factors expected to restrain growth of the global shea butter market over the forecast period.
The shea butter market has been segmented on the basis of type, application, and region. On the basis of region, into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Currently, the market in North America dominates the global shea butter market in revenue terms owing to high rate of adoption of shea butter products among various end users, and rising demand for cosmetic products that contain natural ingredients such as shea butter. Europe is currently the second-highest market in terms of revenue, owing to increasing use of shea butter products among end users in the region, and high disposable income. The market in Asia Pacific is projected to have the fastest growth in terms of revenue, owing to increasing demand for cosmetic products containing natural ingredients in countries in the region.
Prominent players in the global shea butter market include Ghana Nuts Ltd, Shea Radiance, VINK CHEMICALS GMBH & CO. KG, Wuxi Huadong Cocoa Food Co., ltd., Empower Village, LLC, Shealan Natural Organics Cosmetics, My Shea Limited, YaaNe Enterprise, Shealan Cosmetics, and Dydon UK Limited
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