The Latin America, Middle East and Africa Shea Butter Market would witness market growth of 9.8% CAGR during the forecast period (2022-2028).
Shea butter in the beauty industry is used in products like hair treatment products for dry and damaged hair, anti-wrinkle and anti-aging cream products, body and face moisturizing products, and aftersun and sunburn relief products. Some emerging uses of shea butter include the development of stretch mark prevention products, hair treatment for dry scalp products, aftershave and shaving creams that reduce skin irritation, and baby care products. Shea butter is also used in products that ease muscle pain & fatigue and treat insect bites & stings.
High-quality products developed from unrefined and raw shea butter are free from preservatives and other artificial additives. Such products are also rich in vitamins and minerals like magnesium, potassium, etc. the availability of vitamins A, E, and F provide the product with anti-inflammatory, anti-aging, and anti-wrinkle abilities that help in reducing lines, spots, and wound scars. Additionally, shea butter can also be used as a substitute for hardened fats like animal-derived fats and vegetable oils in the food and beverages industry. Its hydrating properties also make it an apt alternative to coconut oil or other emollient bases in the manufacturing of creams, balms, ointments, and salves.
In Africa, shea butter is widely known as Women’s Gold, as most women of the region are engaged in the cultivation of shea nuts. Hence, it is responsible for millions of women’s livelihoods. In certain African countries like Benin, shea butter is widely used as cooking oil. It is also used as a waterproofing wax for candle-making and hairdressing and as a constituent in medicinal ointments. In addition, Shea butter is also used for increasing the durability of traditional percussion instruments of the region, like djembe shells, along with improving the durability of leather tuning straps and dried calabash gourds.
The Brazil market dominated the LAMEA Shea Butter Market by Country in 2021; thereby, achieving a market value of $56.7 million by 2028. The Argentina market is estimated to grow at a CAGR of 10.4% during (2022 - 2028). Additionally, The UAE market would exhibit a CAGR of 9.5% during (2022 - 2028).
Based on Product, the market is segmented into Raw & Unrefined and Refined. Based on Application, the market is segmented into Cosmetics & Personal Care, Food and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Shea Butter Market is Predict to reach $3 Billion by 2028, at a CAGR of 7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include AAK AB, Bunge Limited, BASF SE, Archer-Daniels-Midland Company, Clariant AG, Croda International PLC, Cargill, Incorporated, Stern-Wywiol Gruppe GmbH & Co. KG, OLVEA Group, 3F Industries Ltd.
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