The North America Shea Butter Market would witness market growth of 6.5% CAGR during the forecast period (2022-2028).
Shea butter is naturally available in limited regions, the proliferation of online distribution channels has helped in the market growth immensely. Online retail is known to offer a wide variety of cosmetic products made from shea butter from numerous manufacturers. Online platforms also help consumers to compare the offerings from multiple sellers with regard to price, ingredients, degree of processing, the origin of the product, etc.
The availability of such extensive information helps the consumer in making a sound decision. Therefore, online platforms have increased the accessibility of the product significantly. In addition, the presence of numerous social media platforms has increased the visibility and awareness of shea butter products. This has successfully helped in increasing the number of people willing to try a new product like shea butter.
In the North American region, shea butter is widely used in the production of cosmetics as an adequate substitute for cocoa butter owing to its beneficial natural properties. Additionally, people in the region have increased their annual expenditures on cosmetic and personal care products. This is highly perceptible among the millennial population. The increasing adoption of eCommerce portals, along with the rising spending on products, is proving to be significant contributors to the shea butter-based products increased demand.
The US market dominated the North America Shea Butter Market by Country in 2021; thereby, achieving a market value of $609.8 million by 2028. The Canada market is poised to grow at a CAGR of 8.9% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 8% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Shea Butter Market is Estimated 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.
By Product
By Application
By Country
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