Shea butter market to grow at 10.5%
According to a new report by Global Market Insights, the global shea butter market size is anticipated to reach $2.9 billion by 2025, with a 10.5% compound annual growth rate
According to a new report by Global Market Insights, the global shea butter market size is anticipated to reach $2.9 billion by 2025, with a 10.5% compound annual growth rate. While shea butter is also widely used in food, this growth will owe much to personal care demand, particularly in the Asia-Pacific (APAC) region.
Efforts by cosmetic manufacturers “to develop innovative, targeted cosmetic solutions for people belonging to different age groups” will support the use of shea butter, GMI said. “Superior melting properties, therapeutic features and smooth spreadability will make it an excellent choice for cosmetic items.”
A restraining factor will be easy access to cheaper substitutes, such as mango butter, shea oil and avocado butter. In addition, the high latex content of shea butter may cause skin allergies among people with sensitive skin. Leading producers include AAK, Olvea, International Oils & Fats, Ghana Nuts and Cargill.
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