The Shea butter market is estimated to be valued at US$ 2.32 Bn in 2023 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Shea butter is extracted from the nuts of Vitellaria paradoxa, commonly known as the shea tree. It has emollient and moisturizing properties which make it suitable for use in cosmetics, personal care and pharmaceutical products. Shea butter is used in creams, lotions, soap, massage oils and other personal care items. It is also used to make chocolate.

Market Dynamics:
The shea butter market is primarily driven by the rising demand from the cosmetics industry. Shea butter moisturizes and softens the skin due to the presence of fatty acids and vitamins which makes it a key ingredient in anti-aging creams and lotions. Additionally, the multi-benefit properties of shea butter such as sun protection, healing and skin rejuvenation further increases its demand in various cosmetic products. This growing demand from cosmetics segment is expected to propel the growth of shea butter market over the forecast period. Another major driver is the increasing applications of shea butter in pharmaceuticals. Shea butter helps in wound healing and provides relief from skin conditions like eczema and psoriasis. The moisturizing and anti-inflammatory properties makes shea butter suitable for use in medications and ointments.

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