Global kokum butter market demand is anticipated to be valued at USD 692.6 million in 2023, forecast a CAGR of 6.3% to be valued at USD 1,236.2 million from 2023 to 2033. Growth is attributed to the increasing applications in consumer care and personal care products. From 2018 to 2022 a CAGR of 5.9% was registered for the kokum butter market.
Kokum butter is extracted by refining kokum kernels using chemical processes of neutralization, bleaching and deodorization. Kokum Butter is composed of beneficial compounds that help to regenerate skin cells. It has a moderate to non-existent perfume and appears like cocoa or shea butter.
Kokum butter has outstanding emollient properties and a very high oxidative balance which allows kokum butter to be converted into many formulations like lotions, lip balms, and soaps. The butter extracted from the fruit kernels is rich in vitamin E, and vital fatty acids.
| Data Points | Key Statistics |
|---|---|
| Growth Rate (2018 to 2022) | 5.9% CAGR |
| Projected Growth Rate (2023 to 2033) | 6.3% CAGR |
| Expected Market Value (2023) | USD 692.6 million |
| Anticipated Forecast Value (2033) | USD 1,236.2 million |
Kokum butter is used in dry skin remedies, hair conditioners, infected pores and skin remedies and in many skincare and beauty products. The Kokum Butter is untreated, unrefined, non-deodorized, unbleached and does not contain any chemicals. Furthermore, Kokum is appropriate for ointment, suppositories, and other pharmaceutical purposes. The ointment is used for treating the ulcer, fissures of lips, cracks or cuts in hands and feet.
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Rising Application in Cosmetics to Drive Market Expansion
The high growth of the kokum butter market is anticipated as cocoa butter is becoming increasingly expensive and with limited availability, Kokum butter is becoming more popular as a substitute for cocoa butter. Due to its uniform triglyceride composition, it is often used as a substitute for cocoa butter as it is more quickly absorbed into the skin without leaving an oily feel like many other oils and butter.
Growing consumer consciousness regarding the use of products that provide multiple benefits and nourishing qualities to attain the perfect skin and body is boosting the demand for kokum butter in the cosmetics and personal care industry. Developing markets for personal care and cosmetic products has played a major role in fueling the growth of the Kokum butter market across the globe. Kokum butter has antioxidant properties and prevents drying of the skin and helps in reducing wrinkles.
Kokum butter is rich in citric acid, polyphenols, acetic acid malic acid, and also contains vitamin B complexes, hydroxycitric, potassium, manganese, and magnesium. Kokum butter is used in cosmetic formulations along with other ingredients to make it more pliable.
High Prices of Products May Restrain the Growth of the Market
Although the kokum butter market has numerous end-uses, there are numerous obstacles that likely pose a challenge to market growth. The growth of the global kokum butter market is threatened by the surge in the price of high-quality products that kokum butter is used to produce. Consumers are often discouraged when the cost of items is high in the global market.
A rise in the price of a product will encourage consumers to switch towards the consumption of items with similar quality but at a low price. And this will hamper the growth of the kokum butter market globally.
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Increasing Demand in Cosmetic Industry in The Region to Drive the Kokum Butter Market
North America was the largest market for kokum butter market and the trend is expected to continue into the forecast period owing to the high preference for kokum butter in the region. North America accounts for a total of 33.8% of the global kokum butter market share.
Increasing consumer preference towards natural ingredients coupled with ease of application and availability in different forms has strengthened the growth of the global kokum butter market and hence is the market projected to significantly expand over the forecast period. In addition, the increasing demand for cosmetics and natural products in North America are major factors expected to drive the growth of the global kokum butter market over the forecast period.
Growing Food and Beverage Industry in The Region Boost the Growth of the Market in Europe
According to Future Market Insights, Europe is expected to provide immense growth opportunities for the kokum butter market, due to the growing food and beverage industry in the region. Europe’s kokum butter market accounts for 40.2% of the total global market.
The kokum butter market is expected to witness sustained growth over the forecast period. The growth of the kokum butter market is driven by its wide applications and growing use of kokum butter products.
The growth of the market in Europe is attributed to continuous technological advancements in the cosmetics and personal care industry and strong innovations and investments in R&D are expected to provide lucrative opportunities for kokum butter market expansion.
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The Growing E-commerce Sector in The Region Boosts the Kokum Butter Market in The Coming Years.
The Asia Pacific region is expected to witness a high demand for lactase over the forecast period. The growth of the market in the region is attributed to growing allied industries such as pharmaceuticals, food, and beverages. The highest growth is expected to be seen specifically in India and China. The market is primarily driven by the growth of the cosmetics and toiletries sector, along with the well-established retail sector in the region.
The rapidly growing e-commerce sector in the region spurred the demand for kokum butter. Online retail is credited with the easy availability of cosmetic kokum butter products such as lotions, creams, hair care products, and others, along with the ease of comparing the prices of various cosmetic products on the same platform. This is resulting in easy access to kokum butter among consumers. In addition, the increasing market penetration of kokum butter products through online-based retailing is expected to fuel the growth of the kokum butter cosmetic products sector in the Asia Pacific.
The new entrants in the kokum butter market are continually indulging in several collaborations and highly investing in research and development activities to provide more convenient solutions to industry verticals. Some of the major start-ups that are leading the development of the market are- AG Industries, AOS Products private limited, Manorama industries limited, Vedaoils, Wildoils private limited, H&B Oils Centre,
Some of the key participants present in the global enterprise key management market include International Cosmetic Science Centre, Manorama Group, Biochemica, Marudhar Foods Private Limited, BioChemica International, Keynote International, Villa Germania Alimentos S.A., Madvik Research Labs Private Ltd., Fimanus UG Haftungsbeschrankt, Ausmetics Daily Chemicals (Guangzhou) Co Ltd., Zhongshan Desly Foodstuffs Co., Ltd among others.
Attributed to the presence of such a high number of participants, the market is highly competitive. While global players such as International Cosmetic Science Centre, Manorama Group, Biochemica, Marudhar Foods Private Limited, and BioChemica International account for considerable market size, several regional-level players are also operating across key growth regions, particularly in the Asia Pacific.
Recent Developments
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 6.3% from 2023 to 2033 |
| Expected Market Value (2023) | USD 692.6 million |
| Anticipated Forecast Value (2033) | USD 1,236.2 million |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Application, End Use, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | United States, Canada, Mexico, Brazil, Germany, Italy, France, United Kingdom, Spain, China, Japan, South Korea, Malaysia, Singapore, Australia, New Zealand, GCC, South Africa, Israel |
| Key Companies Profiled | International Cosmetic Science Centre; Manorama Group; Keynote International; Villa Germania Alimentos S.A.; Ausmetics Daily Chemicals; Cargill;Mewah Group; VINK Chemicals; Musim Mas; Akoma Cooperative |
| Customization | Available Upon Request |
Kokum Butter in particular skincare and confectionary items drive its demand in the market.
Increased focus on environmentally friendly sourcing and production practices is influencing the market.
Growing use in pharmaceutical formulations and food industry.
The market is estimated to reach USD 692.6 million in 2023.
Kokum Butter is mostly sold in India, Southeast Asia, and some portions of Africa.
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Kokum Butter Market
