The global shea butter market has been negatively impacted by the Covid-19 epidemic.
The epidemic interrupted the global supply chain, causing problems for key actors and vendors during the distribution of commodities.
Trade restrictions enforced by various nations throughout the world to combat the COVID-19 epidemic had a substantial impact on global logistics and transportation, resulting in a negative impact on the shea butter market.
The global shea butter market is growing due to an increase in consumer demand for plant-based components in cosmetics, an increase in online sales in distant locations, and an increase in demand for shea butter in the cosmetic and food industries. However, the product’s restricted availability in developed nations, as well as the availability of healthier options, limit market expansion. The widespread use of shea butter in numerous industrial verticals, the rise in the vegan population, and the rapid growth of the retail sector, on the other hand, present fresh opportunities in the coming years. Because of the numerous benefits associated with unprocessed or cold-pressed oils, the raw & unrefined segment held the greatest market share in 2020, accounting for about four-fifths of the worldwide shea butter market, and is expected to maintain its leadership status during the forecast period. However, from 2021 to 2030, the refined & ultra-refined segment is expected to grow at the fastest rate of 16.3 percent. This is due to its use in the skincare industry, where it is supposed to help soften the skin and lighten the complexion while also reducing the appearance of lines and wrinkles. The food sector accounted for the greatest share of the global shea butter market in 2020, providing more than four-fifths of the market, and is expected to continue its lead position over the forecast period. This is due to the fact that shea butter has both functional and nutritional benefits. Furthermore, due to its use in a wide range of cosmetic items, such as creams, soaps, balms, body butter, lip balms, shaving creams, and hair care products, the cosmetics category is predicted to grow at the fastest rate of 16.4% from 2021 to 2030. In terms of revenue 2020, North America owned the largest market share, accounting for more than one-third of the worldwide shea butter market. This is attributed to an increase in health-conscious people and improved lifestyles in countries like the United States. The Asia-Pacific area, on the other hand, is predicted to increase at the quickest rate of 16.4% from 2021 to 2030, owing to rising demand for plant-based foods and a burgeoning vegan and flexitarian population.
Covid and other market factors
