Shea Butter Market Size

Shea Butter Market size surpassed USD 2 billion in 2022 and is anticipated to grow at a 6% CAGR from 2023 to 2032. Driven by the increasing consumption of confectionary and bakery items in Europe.

According to the U.S. Trade Commission, around 90% of shea demand comes from chocolate and confectionary products. Thus, the increasing demand for high-quality and premium chocolates in European nations such as Italy, Belgium, and France may significantly enhance the market performance. Estimations by the CBI Ministry of Foreign Affairs suggest that Europe is the major export hub for shea products. Around 250,000-300,000 tonnes of shea products are exported to the region yearly, making it the world’s largest chocolate producer and consumer

These optimistic scenarios, in tandem with the increasing usage of shea butter as an alternative to cocoa butter in a range of confectionary items due to its high prices. Due to its emollient properties, shea butter also finds huge applications in the cosmetic industry. Many European cosmetic companies use it as a moisturizing body butter. The growing demand for natural and organic cosmetic products in the region is expected to drive appreciable gains to the market through 2032.