Global Shea Butter Market Size, Share, Growth, Trends and Forecast 2018 - 2028

Albany, NY -- (SBWire) -- 03/24/2021 --Shea Butter Market: Overview:

The shea fruit is a non-timber forest product that is native to the ecosystems of the semi-arid regions of Western Africa. Shea butter (Butyrospermum parkii) is the fat derived from the nuts/kernels of the shea fruit, also known as Vitellaria paradoxa. Shea butter finds use as an alternative to vegetable oil in various applications such as food processing, cosmetics, pharmaceuticals, and retail.

In terms of value, the global shea butter market is expected to reach a market value of US$ 3,566.1 Mn by the end of 2028, with an expected CAGR of 5.2% over the forecast period.

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The key factors driving growth of the shea butter market include the growing demand for cocoa butter alternatives in chocolate and confectioneries, increasing consumption of chocolate and bakery products, rise of product premiumization in the food and beverages industry, and soaring shea butter consumption by cosmetics and personal care products manufacturers.

Global Shea Butter Market: Drivers

Gradually Rising Preference for Shea Butter as a Potential Alternative to Vegetable Oil, over Rather Expensive Cocoa Butter
Cocoa butter is used in chocolates and confectioneries as a fat source, to give the products luster, texture, and snap. The demand for cocoa butter is increasing with the growing demand for chocolates and confectioneries. However, cocoa butter is witnessing supply constraints due to the declining yields of cocoa in major producing countries. Therefore, the price of cocoa butter is increasing rapidly, which is compelling manufacturers of chocolates and confectioneries to opt for other alternatives or equivalents to cocoa butter.

Shea butter is being increasingly used by manufacturers as a potential replacement for the costlier cocoa butter for application in chocolates and confectioneries. Leading manufacturers such as The Hershey Company and Mondel?z International, Inc. are using shea butter as an alternative source of fat to replace cocoa butter.

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Growing Application of Shea Butter in the Bakery Industry Is a Strong Booster

Shea butter is used as a raw material for margarine and shortening for the manufacturing of several bakery products such as dough, puff pastries, croissants, and others. Margarine is nothing but a copy of butter made from vegetable oil and water.

The production of margarine requires solid fats. Hence, manufacturers have used the process of hydrogenation to harden vegetable oil. However, the hydrogenation of vegetable oil results in the generation of trans unsaturated fatty acids, which have a negative impact on cardiovascular health. This is pushing manufacturers towards using shea butter for the processing of margarines and shortenings.

Shea butter is stable solid at room temperature, and hence, it eliminates the need for hydrogenation, and also prevents the generations of trans unsaturated fatty acids. Thus, it is a healthy alternative for margarine production and for application in the bakery industry. Hence, the growing bakery industry is expected to boost the demand for shea butter.

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Growing Premiumization of Food and Beverage Products Fuelling the Demand for Shea Butter
Urbanization and modernization in emerging economies have strengthened the food and beverage industry. The concept of 'premiumization' has caught on in the food and beverage industry, ranging beyond pricing to include far-fetched quality and a superior experience. Premiumization has driven consumer taste for high quality and value-added products with good superiority ingredients that promise enhanced health benefits.

Consumers are ready to pay a premium price for products offering perceptible health benefits – the only criterion being the potential of a unique offering that meets their basic dietary and health needs. Premiumization is leading to the growing demand for bakery and confectionery products, and thus, is proliferating the growth of the shea butter market. Besides, manufacturers are turning towards shea butter with the aim of provide consumers with better quality ingredients and products.

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Growing Demand for Cosmetics and Personal Care Products is Assisting Growth of Shea Butter Market:

Cosmetic companies have begun to harness the power of shea butter to bring a level of diversification in the largely staid cosmetics industry. Growing consumer consciousness regarding the use of products that provide multiple benefits and nourishing qualities to attain the perfect skin and body is boosting the demand for shea butter in the cosmetics and personal care industry.

Shea butter is used in skin care, hair care, color cosmetics, baby oil, lotions, and other products due to its multiple functionalities. Shea butter acts as bioactive, emollient, and surfactant in various cosmetics and personal care products. Through continuous research and development, manufacturers of cosmetics and personal care products are trying to capture the skincare industry with the introduction of new products containing shea butter.

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