Shea Butter Market Size, Share, Growth Analysis, By Type(Refined and ultra-refined and raw and unrefined), By Application(Food and cosmetics), By Nature(Organic, Conventional), By Distribution Channel(Specialty Stores, Online Stores, Supermarket, Convenience Stores), By Region - Industry Forecast 2024-2031

By 2028, the North American shea butter market is anticipated to reach more than USD 390 million. The production of cosmetics using potent cocoa butter alternatives has a wide range of natural features, which should spur market expansion. The substance is smooth and odorless, making it suitable for usage in a range of products like cosmetics, medications, and occasionally even food and beverages.

The shea butter market in the United States is expected to reach a value of around USD 240 million in 2022 and expand at a CAGR of 7%. The demand for FDA-approved, premium-quality shea butter is rising in the United States. The soft fraction of shea butter has been given FDA approval and may produce high stability and premium quality products for use in snacks, baked goods, sauces, spreads, desserts, frozen meals, dairy, and other products. Shea butter market expansion would be aided by rising demand for facial makeup products like BB and CC creams in the US due to its many benefits. These lotions offer hydration, antioxidant defense, pore reduction, and sunscreen.

In 2021, the shea butter market in Europe generated USD 338.369 billion in sales and by 2030, it is anticipated to generate USD 978.920 billion. Because of the region's well-established confectionery industries, where shea butter is frequently used as a substitute for cocoa butter in the production of chocolates, shea butter market share growth is concentrated in Europe. Additionally, there are many cosmetic firms in the region that employ shea butter as a base ingredient in their creations. These elements are probably going to fuel the shea butter market going forward.