Published Date: 20-Jan-2023
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According to a new report, published by KBV research, The Global Shea Butter Market size is expected to reach $3 billion by 2028, rising at a market growth of 7.0% CAGR during the forecast period.
The Raw & Unrefined market is leading the Global Shea Butter Market by Product in 2021; thereby, achieving a market value of $1.8 billion by 2028. The rising inclination of consumers towards less processed butters and oils like shea butter is the primary factor driving the growth of the segment. Benefits like healing small wounds like scrapes and cuts, boosting skin moisture, and reducing the occurrence of breakouts are some of the factors that have increased the demand for raw & unrefined shea butter.
The Food market is exhibiting a CAGR of 7.3% during (2022 - 2028). The rising premiumization of beverages and food is the main factor boosting the expansion of the segment. Additionally, the increasing demand for chocolate and the use of it is influencing the proportionate growth of this market as well. Shea butter is used in chocolate products to improve the texture, consistency, and other properties of chocolate.
The Europe market dominated the Global Shea Butter Market by Region in 2021; thereby, achieving a market value of $1.0 billion by 2028. The Asia Pacific market is experiencing a CAGR of 7.5% during (2022 - 2028). Additionally, The North America market would showcase a CAGR of 6.5% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/shea-butter-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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