Kartie Tree Extract Market is estimated to contribute a value of $198.1 Million for the year 2020 during the forecast period of 2021-2026. The CAGR for the period is estimated at 3.8%. Kartie Tree is an indigenous tree found in the sub-Saharan region of Africa, also known as Shea Tree or Vietellaria Paradoxa. The extract is obtained from the Kartie Nut, which helps in making Shea Butter and other products. The Kartie Tree extracts contain fatty, amino, stearic, and oleic acids, along with a rich proportion of vitamins and minerals.
Due to the presence of Vitamin A and E, the extract is used as an emollient and skin moisturizer by various cosmetic and personal care industries, making a sizable contribution to the overall demand for the Kartie tree extract. Shea Butter, an extract of Kartie Tree serves as a substitute for palm and cocoa oil, due to its low cost and low-fat content, thereby increasing its demand across the food ingredient market. Due to the various benefits provided by Kartie Tree extract, market size is bound to grow at a substantial rate during the forecast period of 2021-2026.
Kartie Tree Extract Market Segment Analysis- By Application
Based on Application, The Kartie Tree Extract Market share is segmented into four sub-categories namely, Cosmetic and Personal Care; Food and Beverages; Medicines; and others. Cosmetic and Personal Care accounted for the largest share in the year 2020. The rising demand in this segment is owed to the added benefits provided by shea butter and other extracts. The Kartie tree extract holds properties that absorb the ultraviolet rays thereby making it a right fit for sunscreens.
The following attributes make the cosmetic and personal care products register a higher CAGR of 4.6% and fastest-growing segment owing to the presence of Vitamin A and E serves the requirement for a moisturizer and an emollient. Kartie extracts in form of butter are also used in making hair masks, due to their binding property, the extract protects the hair from heat and other radicals.
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Kartie Tree Extract Market Segment Analysis- By Extraction Technique
Based on extraction techniques, Kartie tree extracts can be obtained by four different processes namely, traditional; mechanical; chemical and enzymatic, and each rendering its benefits. Amongst the following, the enzymatic technique is the fastest adopted technique and holds the majority share across the Kartie Tree Extract Industry. The reason for the demand in enzymatic approach is due to the certain characteristics the obtained product holds, which are in line with the permissible limits of WHO, which governs the quality on four major characteristics such as peroxide value, moisture content, free fatty acid levels, and insoluble impurities.
Enzymatic Technique is set to grow at the fastest CAGR 4.1% levels amongst others in this segment. The reason for adopting to enzymatic technique is that the extract holds its earnest value and quality, which is otherwise lost in chemical and mechanical techniques. Hence the industries demand the by-product by this technique.
Kartie Tree Extract Market Segment Analysis- By Geography
By Geography, North America dominated the overall market share by contributing a total share of 40%. The rising demand is associated with the demand coming primarily from the cosmetic and personal care products, along with the food and beverages segment. The Kartie Tree Extract Industry Outlook for the demographic for North America looks optimistic and will account for the fastest-growing region during the forecast period of 2021-2026, the reason associated with the surge is the gradual shift in using shea butter, instead of cocoa butter as the latter is expensive and the deficit in supply.
Kartie Tree Extract Market Drivers
Rising Incidence of Cholesterol
The presence of stearic acid in Kartie tree extract helps in lowering the overall LDL- Low Density Lipoprotein and overall cholesterol level. Increase in cholesterol can lead to multiple diseases like diabetes, high blood pressure, coronary heart diseases and stroke. 29 million of the adult population in USA have high cholesterol. Hence, with adoption of Kartie tree extracts, the overall cholesterol can be kept in control. Kartie extract oil is now heavily demanded by North America due to its health benefits over the others.
No Allergic Reactions
The benefit of using the Kartie tree extract is that it has no IgE binding soluble proteins, which makes it safe for people with nut allergies. According to the recent trends, around 3 million Americans are allergic to nuts. With no allergic contractions, the population can be targeted.
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Kartie Tree Extract Market Challenges
High Competition
Due to the availability of cheaper substitutes like mango butter, avocado butter and others, can hamper the overall market growth of the Kartie Tree Extract Industry.
High Cost of Installation
The high costs associated with the installation and maintenance of these machines is also a factor that may hamper the revenue growth of the global Kartie Tree Extract Industry over the course of this forecast period.
Kartie Tree Extract Market Landscape
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Kartie Tree Extract Market. Kartie Tree Extract Market top 10 companies include- Olvea Group, Sophim S.A, Cargill Inc, Suru Chemicals, Ghana Nuts Company Ltd., Croda International Plc, Agrobotanicals LLC, Clariant AG, Inkuto and Fuji Oils
Developments
In June 2020, Fuji Oils launched, “Kartei Sustainability Programme” through which it partners with various women run cooperatives, who in turn will provide the company with market kernel volumes of a specific quality, and the company shall provide finance prior to the harvest. Apart from funding the harvest, the company will also support the cooperatives in maintaining warehouses and reforesting the barrel land.
Key Takeaways
North America dominated the Kartie Tree Extract market share for the year 2020, due to change in preferences towards low-fat foods and beverages. Rest of the World also promises stable growth in the forecast period of 2021-2026.
Diversifying product portfolios can help the companies reap better market share and the aligned revenues
Detailed analysis of the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the final Kartie Food Market Report.
Challenges are present in maintaining the machinery required for production due to higher costs involved, and also due to the presence of low-cost substitutes.
Related Reports
A.Mango Butter Market
https://www.industryarc.com/Research/Mango-Butter-Market-Research-504584
B.Tea Tree Oil Market
https://www.industryarc.com/Research/Tea-Tree-Oil-Market-Research-507300
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