The Latin America Shea Butter Market is expected at USD 130 million in 2024 and is estimated to be growing at a CAGR of 5.45%, to reach USD 160 million by 2029.
Shea butter extracted from the fruit of Kartie tree i.e. Shea nut. This tree is a native of Africa and possesses healing properties. It is mainly used for the production of Shea butter. Shea butter has tremendous skin care, healing, and medicinal properties which marks its demand in the market by various industries. It is widely used as a substitute for cocoa and palm oil due to its low-fat content. Various factors driving market demand are continuous rising demand for cocoa equivalent products due to rising chocolate consumption by the world population. A rise in the demand for natural products based on cosmetics and skincare products are becoming another market driver for Shea butter. There has been a rise in consumer awareness for hydrogenated oils containing trans fat which further drives the market. Factors restraining market growth include Shea butter cost, which is higher than that of the substitute products palm oil and olive oil, used in soap and other skin care products.
Shea Radiance
VINK CHEMICALS GMBH & CO. KG
Jedwards International, Inc.
Lovinah Naturals
Maison Karite Sociedad Limitada
Shebu Industries
Shea Therapy Ltd (formerly trading as AGC Ltd)
The Pure Company etc
Frequently Asked Questions
Shea butter is primarily used in the cosmetics and personal care industries in Latin America, including products like moisturizers, lotions, and hair care. It is also used in some food and confectionery items as a cocoa butter substitute.
The increasing demand for natural and organic personal care products, the rising trend of sustainability, and the growing awareness about the health benefits of shea butter are key factors driving market growth.
Sustainability is a key trend influencing the market, with consumers increasingly seeking ethically sourced and environmentally friendly products. Brands that emphasize fair trade and sustainable sourcing of shea butter are gaining popularity.
The cosmetics industry is the largest consumer of shea butter in Latin America, accounting for over 60% of its use, driven by the demand for skin and hair care products that promote hydration and anti-aging properties.
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