According to a new report published by UnivDatos Markets Insights, the Mango Butter Market is expected to grow at a CAGR of around 12% from 2022-2028. The analysis has been segmented into Type (Refined, Unrefined); Application (Food, Cosmetics, Pharmaceuticals); Region/Country.
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The Mango Butter market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Mango Butter market. The Mango Butter market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Mango Butter market at the global and regional levels.
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Market Overview
The market for mango butter is mainly driven by the increase in demand in the personal care industry, owing to its large-scale use in various products of the industry. A steady increase in consumer preference for a healthier lifestyle has been driving demand for natural ingredients, especially in cosmetics and the food industry. Manufacturers of cosmetics and personal care products prefer the incorporation of natural ingredients in their finished products. Mango butter has abundant applications in diverse industries ranging from food to cosmetics. It is widely used in the synthesis of cosmetics products like suncare balms, and hair products because it encompasses fats and antioxidants. It extends skin benefits like reducing acne, clearing the skin, stop aging. Moreover, it acts as a sealant and locks moisture, therefore it’s quite cooperative in dealing with dandruff and coarse hair complications. Besides, oils extracted from seeds are widely used as an alternative to vegetable oils like cocoa, and soybean oil. Intensification in the geriatric population around the globe, and broadening awareness of skincare are factors set to drive the growth of the Mango Butter Industry.
The Mango Butter Market is expected to grow at a steady rate of around 12% owing to surging consumer awareness about the health benefits of mango butter. Mango butter has a wide range of applications in the skin and hair care sector. It is also used in some personal care segments, such as anti-aging products and after-sun care. Its composition makes it a viable alternative to shea butter and cocoa butter in personal care products. However, it is more expensive than these alternatives. Refined mango butter is in high demand among cosmetic formulators in Europe. The growing use of food ingredients in personal care products is generating demand for mango butter.
Some of the major players operating in the market include Alzo International Incorporated, All Organic Treasures GMBH (AOT), Manorama Industries Limited, AVI Naturals, Jarchem Industries, Inc., Ekologie Forte Private Limited, Hallstar Company, Madina Industrial Corp, Natural Sourcing, LLC, Henry Lamotte Food GMBH
COVID-19 Impact
The pandemic has caused a major disruption in the trade of mango butter. This disruption has affected the price and has led to delays in deliveries of mango butter to Europe and North America. Imports for mango butter have grown at double-digit growth in the last 5 years. Demand for mango butter is emerging especially in Europe for organic mango butter. Although some trades in Europe and North America are experiencing a decline in demand during the COVID-19 pandemic, which was temporary.
The Global Mango Butter Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on type, the market is segmented into Refined, and Unrefined. The refined segment grabbed the major market share and dominated the market in 2020. Refined mango butter is frequently used in the skin care industry since it is believed to reduce the visibility of lines and wrinkles and help soften and lighten the skin, making it the perfect treatment for dry, damaged skin. As a result, the numerous advantages of refined mango butter significantly aid in expanding the global market. However, the unrefined mango butter would witness the highest CAGR during the forthcoming years.
· On the basis of application, Food, Cosmetics, and Pharmaceuticals. The cosmetics segment grabbed the major market share and dominated the market in 2020. The growth is owing to proliferating insecurities among people regarding their outer beauty. The plunging number of people inflicted with anxiety because they think they look bad is the factor fueling the demand for cosmetics and beauty products. Besides the increasing application of mango butter in cosmetic creams and powders because it is really helpful in smoothening skin, and reducing acne and dryness. Mango butter produces salicylic acid when it interacts with oxygen. Salicylic acid helps in protecting the skin from ultraviolet rays.
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Mango Butter Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
Europe region grabbed the major market share and dominated the market in 2020. The rising awareness regarding the health benefits of mango butter is the key factor fueling the growth of the industry. Moreover, technological advancements have helped manufacturers refine mango butter; hence, the European mango butter market is witnessing considerable development. However, the Asia Pacific region would witness the highest CAGR during the forthcoming years as most mango butter is produced in Asian countries and exported to developed areas of Europe and North America.
The major players targeting the market include
· Alzo International Incorporated
· All Organic Treasures GMBH (AOT)
· Manorama Industries Limited
· AVI Naturals
· Jarchem Industries, Inc.
· Ekologie Forte Private Limited
· Hallstar Company
· Madina Industrial Corp
· Natural Sourcing, LLC
· Henry Lamotte Food GMBH
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Mango Butter market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the Mango Butter market?
• Which factors are influencing the Mango Butter market over the forecast period?
• What are the global challenges, threats, and risks in the Mango Butter market?
• Which factors are propelling and restraining the Mango Butter market?
• What are the demanding global regions of the Mango Butter market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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