“Global Mango Butter Market to reach a market value of USD 283.6 Million by 2030 growing at a CAGR of 11.2%”
The Global Mango Butter Market size is expected to reach $283.6 million by 2030, rising at a market growth of 11.2% CAGR during the forecast period. In the year 2022, the market attained a volume of 3,667.5 tonnes, experiencing a growth of 11.4% (2019-2022).
European consumers increasingly seek natural and organic alternatives in their skincare, haircare, and food products. Consequently, the Europe segment captured $46,757.3 thousand in the market in 2022. Also, the UK market consumed 255.47 tonnes of Mango Butter in 2022. The clean beauty movement, characterized by using non-toxic, eco-friendly ingredients, is gaining momentum in Europe. Plant-based diets are becoming increasingly popular in the region due to growing concerns about animal welfare, sustainability, and health.
It presents a sustainable and ethical alternative for consumers searching for cruelty-free alternatives, in line with the increasing demand for plant-based alternatives. For example, according to the National Library of Medicine’s 2021 update, the proportion of vegan Americans rose by 600% between 2014 and 2018. Therefore, the market is expanding significantly due to the growing preference for plant-based and vegan alternatives.
Additionally, unlike physical retail stores with set operating hours, online retail platforms are accessible 24/7, allowing consumers to shop for mango butter products at any time of the day or night. As per the International Trade Administration, global e-commerce sales for B2B businesses have gradually increased over the last decade, with the global B2B e-commerce industry expected to be worth USD$36 trillion by 2026. Hence, rapid shift toward online retail expansion has been a pivotal factor in driving the growth of the market.
However, its production is directly linked to the supply and harvest of mangoes, which are subject to seasonal fluctuations and weather conditions. Any disruptions in mango cultivation, such as adverse weather events, pests, diseases, or crop failures, can lead to fluctuations in the supply and prices. Thus, high price volatility and cost concerns can slow down the growth of the market.
Based on application, the market is classified into cosmetics, food, and pharmaceutical. The pharmaceutical segment acquired a 17.81% revenue share in the market in 2022. In terms of volume, pharmaceutical segment would register 1,952.4 tonnes by 2030. It is known for improving skin elasticity and promoting collagen production, making it beneficial for scar and stretch mark treatment.
By type, the market is categorized into refined and unrefined. In 2022, the refined segment held the 70.92% revenue share in the market. In terms of volume, refined segment would consume 6,341.9 tonnes by 2030. Refined mango butter is preferred for cosmetics and skincare formulations due to its superior quality and consistency.
Free Valuable Insights: Global Mango Butter Market size to reach USD 283.6 Million by 2030
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region acquired a 24.41% revenue share in the market. In terms of volume, pharmaceutical segment make use of 938.0 tonnes in 2022. Asia Pacific consumers increasingly seek natural and organic alternatives in their food, cosmetics, and personal care products.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 122.1 Million |
| Market size forecast in 2030 | USD 283.6 Million |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 11.2% from 2023 to 2030 |
| Quantitative Data | Volume in Tonnes, Revenue in USD Million, and CAGR from 2019 to 2030 |
| Number of Pages | 211 |
| Number of Tables | 490 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Type, Application, Region |
| Country scope |
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| Companies Included | Hallstar Innovations Corp., Jarchem Innovative Industries LLC (Vertellus Holdings LLC), Avi Naturals, Natural Sourcing Company, Ekologie Forte Pvt. Ltd., All Organic Treasures GmbH, Manorama Industries Limited, Alzo International Inc., Henry Lamotte Food GmbH, Madina Industrial Corp. |
By Application (Volume, Tonnes, USD Million, 2019-2030)
By Type (Volume, Tonnes, USD Million, 2019-2030)
By Geography (Volume, Tonnes, USD Million, 2019-2030)
The Market size is projected to reach USD $283.6 million by 2030.
Rapid shift toward online retail expansion are driving the Market in coming years, however, High price volatility and cost concerns restraints the growth of the Market.
Hallstar Innovations Corp., Jarchem Innovative Industries LLC (Vertellus Holdings LLC), Avi Naturals, Natural Sourcing Company, Ekologie Forte Pvt. Ltd., All Organic Treasures GmbH, Manorama Industries Limited, Alzo International Inc., Henry Lamotte Food GmbH, Madina Industrial Corp.
In the year 2022, the market attained a volume of 3,667.5 tonnes, experiencing a growth of 11.4% (2019-2022).
The Cosmetics segment dominated the Market by Application in 2022; thereby, achieving a market value of $147.6 Million by 2030.
The Europe region dominated the Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $103.1 Million by 2030.
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