Shea Butter Market: Forecasts by Product Type (Raw and unrefined Shea butter and Refined Shea Butter) and by Application (Cosmetics & Personal care, Food, Medical and Others): Global Industry overview, Comprehensive Analysis, Size, Share, Growth, Trends and Forecast, 2018 – 2024. According to the Brandessence Market Research Analyst, Shea Butter market is expected to grow at considerable CAGR during the forecast period 2018-2024.
Introduction to Shea Butter Industry:
Shea butter is a one of the type of fat which is used in numerous skins and hair related products and possess various medicinal properties. Shea butter is derived from the seeds of Vitellaria paradoxa (Shea) tree which is generally found in Africa region. Shea butter is composed of stearic acid and oleic acid and is free from artificial chemicals. Shea butter is used widely in the cosmetic care products such as skin moisturizers, hair conditioners and lip gloss. In addition, shea butter is used in different industries such as food industry and healthcare industry.
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Market Dynamics for Shea Butter industry:
The market is growing with increasing demand of Shea Butter and it is due to specific characteristic like moisturizing and skin care. Moreover, Shea Butter market has huge application in fields like cosmetics & personal care, medicinal, food and others. Global Shea Butter market is also growing with the increasing demand for personal care product. Thus, global Shea Butter market is expected to grow at significant growth rate in forecast period. However, strict rules and regulation may hinder the market of Shea Butter. Nonetheless, untapped market and improving personal care awareness are expected to generate new opportunity in forecast period.
Global Shea Butter Market: Segment Overview
The global Shea Butter market is estimated to register significant CAGR between 2018 and 2024. The report included a detailed competitive scenario and portfolio of leading vendors operating in Shea Butter market all across the world. The report gives detailed segments analysis of Shea Butter market in which the report describes the market into product types, application type and regional segments. Based upon product type, Shea Butter market is classified as Raw and unrefined Shea butter and Refined Shea Butter. On the basis of application type, Shea Butter market has been segmented as Cosmetics & Personal care, Food, Medical and Others. The regions covered in this report are North America, Europe, Asia-Pacific and Rest of the World. North America dominates the market with highest market share due to increased demand for Shea Butter. Europe is second largest market for Shea Butter and it is expected to generate new opportunity with product innovation and increased investment in research and development. Asia Pacific Shea Butter market is witnessed with strong growth rate due to increased government initiatives for public health awareness.