With myriad use of sheabutter mainly in the food and cosmeceuticals sector, shea buttermarket is predicted to rise at a stellar pace in the forecast period between2018 and 2028, says Transparency Market Research (TMR) in one of its recentmarket publications.
Shea butter is considered a super ingredient for modern cosmetic andpersonal care products accounting for mammoth growth of shea butter market,says a TMR analyst. Obtained from the kernels of the shea fruit, shea butterfinds wide use for health and beauty products such as skin soothing and healingproducts.
Furthermore, vast rise in demand for naturally sourced cosmetic productsis another key factor providing fillip to the shea butter market. Individualstoday prefer all-natural cosmetic products witnessing long-term ill-effects ofchemical based cosmetics. All-natural cosmetic products such as the ones ofshea butter are mostly suitable for all skin types and have practically zeroside effects on the skin. For such reasons, shea butter cosmetics are findingway in beauty kits of men and women despite their high costs. This is a keyfactor driving the sheabutter market.
Substituting Cocoa for Bakery Products, Food Sectorto display accentuated Share
The food industry is another key end user of shea butter. Shea butterfinds use in bakery products wherein it is mainly used as a substitute ofvegetable oils for chocolates and confectioneries. Besides this, shea butter isincreasingly finding use as a substitute of cocoa. Such expanding use of sheabutter is translating into growth for shea butter market.
In the pharmaceutical sector, shea butter finds use as a base ingredientfor pharmaceutical formulations. Availability of shea butter in various gradesis another key factor for its expanded use. Collectively, this bolsters growthof shea butter market.
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Finding extensive applications across prosperous end-use industries,demand for shea butter is set to continue to grow. This validates growth ofshea butter market at 5.2% between 2018 and 2028, adds the TMR report.
The shea butter market is classified with respect to nature, grade, enduse, and region. By end use, key segments of the shea butter market are foodprocessing, pharmaceuticals, cosmetics and personal care, and retail. Amongthem, cosmetics and personal care segment commands share in the overall sheabutter market. Cosmetics and personal care held a whopping 52.9% of the sheabutter market in 2018, says the TMR report. Vast use of shea butter in cosmeticand personal care products is due to high composition of palmitic acid, stearicacid, and arachidnic non saponifiable fatty acids that impart skin smoothening,moisturizing, and anti-inflammatory properties.
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Powered by Spending in the U.S., North Americaremains at fore
North America displays substantial demand for shea butter via cosmeticand personal care products. High spending capacity of individuals and fancy fornaturally sourced personal care products makes the U.S a key consumer of sheabutter. This fuels growth of North America shea butter market.
Meanwhile, Asia Pacific is emerging as a key consumer of shea butter.Vast rise in disposable income and increasing spending on beauty products tostay competitive at all fronts is resulting in proliferation of demand for sheabutter in developing countries.
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