Mango Butter Market size in 2019 is estimated to be $32.8 million, growing at a CAGR of 6.1% during the forecast period 2020-2025. Mango butter is extracted from the kernels of the mango, which grows in the tropical climates and is a soft, semi-solid, creamy textured, organic butter. Mango butter is an ideal ingredient in suncare balms and also used in vegetable oils. Increasing consciousness towards skin among consumers and rising geriatric population are the major factors driving the growth of the market. Moreover, changing lifestyle and increasing investment in R&D activities further enhance the overall market demand for Mango Butter during the forecast period 2020-2025.
Type – Segment Analysis
Based on the Type, Mango Butter Market is segmented into Natural Mango Butter, Processed Mango Butter. The natural mango butter segment is forecast to be the fastest-growing segment and is projected to grow at a CAGR of 4.1% during the forecast period 2020-2025. This is mainly owing to improve brain activity, ability to strengthen the heart. Moreover, it nourishes skin for long lasting and also increase its elasticity to make skin smoother that are contributing to the growth of this segment.
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Format – Segment Analysis
Based on the Format, Mango Butter Market is segmented into Powder, Cream. In 2019, cream held the largest share in the Mango Butter market. This is mainly owing to anti-aging properties and provide better conditioning. Moreover, it provides more moisturization that helps to improve skin tone is also contributing to the growth of this segment.
Geography – Segment Analysis
North America dominated the Mango Butter market share accounting for 41% of the market in 2019. This is mainly owing to increasing skin diseases and growing consumer preference for healthier lifestyle. According to American Society of Dermatology, it is estimated that about 85 million people are suffering from skin diseases and 60% of population needs skin treatment which increases the demand for Mango Butter Market.
However, the Asia-Pacific region is projected to be the fastest-growing during the forecast period 2020-2025. This is owing to increasing awareness among people about health and increasing geriatric population.
Drivers – Mango Butter Market
Increasing consciousness Towards Skin
Increasing consciousness towards skin and rising demand for natural ingredients especially in cosmetics and the food industry are some factors driving the growth of Mango Butter market. Mango butter exhibits various skin treatment properties such as keeping the skin plump and youthful, treatment dry skin, improvisation of one’s complexion, reduction of scars etc. Apart from skin treatment, mango butter also helps in moisturizing hair is also set to increase the market growth.
Rising Geriatric Population
Rising aging population increasing the demand for anti-aging products which contain mango butter are some factors driving the growth of the market. Moreover, increasing the demand of mango butter in cosmetic industry further contributing to the growth of Mango Butter market.
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Challenges – Mango Butter Market
High cost of mango butter and increasing side effects such as burns, acne are challenging the growth of the market. Moreover, the high cost of R&D activities of these products are further restraining its market growth during the forecast period 2020-2025.
Mango Butter Industry Outlook
Product launches, Merger & Acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Mango Butter Market. Mango Butter top 10 companies are Natural Sourcing, LLC, Madina Industrial Corp., Jarchem Industries Inc., Henry Lamotte OILS GmbH, Health & Beauty Natural Oils, Hallstar BIOCHEMICA, EKOLOGIE FORTE PVT. LTD, Manorama Group, Avi Natural, AOT, and Others.
On Jan 2018, Mountain rose Herbs launches new natural cosmetic ingredients including mango butter which helps to provide better skin treatment.
On 24 Mat 2019, Jarchem Industries Inc. launches new Actique Bio-fermentation Anti-Aging products which has natural based, non-toxic and biodegradable ingredients.
In 2019, North America dominates the Mango Butter Market owing to increasing skin diseases and growing consumer preference for healthier lifestyle.
Increasing consciousness towards skin among consumers and rising geriatric population is driving the market growth of Mango Butter.
Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the Mango Butter market report.
High cost of mango butter and increasing side effects are challenging the growth of the market.
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