The North America Mango Butter Market would witness market growth of 10.8% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 822.9 tonnes, showcasing a growth of 11.2% (2019-2022).
In the Market, butter serves as a valuable ingredient in the cosmetics industry, contributing to the formulation of a wide array of skincare and beauty products. One of its primaries uses in cosmetics is as a moisturizing agent. Mango butter's rich texture and emollient properties make it an excellent choice for hydrating creams, lotions, and body butters. Its ability to deeply penetrate the skin helps to nourish and replenish moisture, leaving the skin soft, smooth, and supple. Therefore, the US market consumes 407.9 tonnes in cosmetics in 2022.
The US market dominated the North America Mango Butter Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $56,718.3 Thousands by 2030. The Canada market is experiencing a CAGR of 13.3% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 12.3% during (2023 - 2030).
There is a growing emphasis on health and wellness. The butter offers a range of health benefits, including moisturizing and nourishing properties for the skin and nutritional value when consumed internally. As consumers seek products that promote overall well-being, the ahaveetion of butter in skincare formulations, dietary supplements, and functional foods has increased.
The butter’s versatility and functional properties contribute to its widespread adoption across multiple industries. In cosmetics, it is a moisturizer, emollient, and antioxidant-rich ingredient in skincare and haircare products. The food industry adds flavor, texture, and nutritional value to various culinary creations. Additionally, butter’s potential therapeutic properties make it a valuable ingredient in pharmaceutical and nutraceutical formulations, where it is utilized for its anti-inflammatory, anti-aging, and skin-rejuvenating effects.
As per the International Trade Administration (ITA), in the first half of 2022, the Canadian cosmetics industry was the fastest-growing industry in the country. In 2022, Canada’s personal care and beauty sector earned around $11 billion in revenue. Canadian consumers have shown a growing preference for natural and sustainable cosmetic products. Canadian consumers are increasingly conscious of the ingredients used in their cosmetic products and their impact on health and the environment. Cosmetics formulated with butter appeal to Canada’s environmentally and socially conscious consumers. Also, ITA estimates by 2024, cosmetic industry revenue is anticipated to increase by 1.45% yearly to USD 1.8 billion. Hence, the factors mentioned above will drive the regional market growth.
Free Valuable Insights: The Mango Butter Market is Predict to reach USD 283.6 Million by 2030, at a CAGR of 11.2%
Based on Application, the market is segmented into Cosmetics, Food, and Pharmaceutical. Based on Type, the market is segmented into Refined and Unrefined. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Application (Volume, Tonnes, USD Million, 2019-2030)
By Type (Volume, Tonnes, USD Million, 2019-2030)
By Country (Volume, Tonnes, USD Million, 2019-2030)
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