TAGS: Natural/ Organic Skin Care Decorative Cosmetic
Transparency Market Research (TMR) has predicted the global fractionated shea butter in cosmetics and personal care market to register a compound annual growth rate of around 4.5% in terms of market value during 2018-2026, due to various factors affecting the market.
Asia Pacific to Witness Lucrative Growth
As a developing economy with increased purchasing power for personal care and cosmetic products, and holding a high population of health-conscious consumers, Asia Pacific is expected to experience a substantial growth rate of fractionated shea butter in cosmetics and personal care, owing to increasing utilization of color cosmetics and personal care utilities, and favorable government norms regarding trade. It is anticipated that Asia Pacific would witness a substantial compound annual growth rate of the fractionated shea butter in cosmetics and personal care market, accounting for 5.1% during the during the forecast period.
High Propensity for Saponifiable Fractionated Shea Butter
On the basis of product type, the saponifiable fractionated shea butter in cosmetics and personal care segment is expected to grow at a compound annual growth rate of 4.5% during the forecast period. Switching consumer preference for natural and lesser processed cosmetic products over the years has increased the market penetration of saponifiable fractionated shea butter in cosmetics and personal care. As a chemical-free ingredient, saponifiable fractionated shea butter in cosmetics and personal care has significant demand among natural cosmetic manufacturers.
Rise in Premium Cosmetics
Increasing number of working individuals across the globe is resulting in increasing per-capita spending capacity on cosmetic products, which, in turn, is leading to the increasing sales of quality premium products. The increasing trend of working women who are spending more on their personal appearance is a major factor fueling the growth of the global cosmetic market across the world. Thus, rise in disposable income and increasing women workforce are directly proportional to the total spending on premium cosmetic products, which serves as an opportunistic platform for the global shea butter market.
Shea Butter Growth in Color Cosmetic Products
The market participants of various color cosmetics are consistently expanding their product portfolios by merging and acquiring raw material suppliers and domestic players, and promoting their brands through continued marketing campaigns and also through celebrity endorsements. Fractionated shea butter in cosmetics and personal care industries have been witnessing various introductions and innovation of newer products in color cosmetics by major players in the market.
Source: Transparency Market Research