Cupuacu Butter Market
Cupuacu Butter Market (Nature: Organic and Conventional; Grade: Refined, Unrefined, and Highly Refined; End Use: Cosmetic & Personal Care [Lotions & Creams, Lip Balm & Lipsticks, Sun Care Products, Soap & Toiletries, Cleansers, Shampoo & Conditioners, and Others], Food Processing, Pharmaceuticals, and Retail/Household; and Distribution Channel: B2B, B2C [Stored-based Retailing, Hypermarkets/Supermarkets, Specialty Stores, Wholesalers, Independent Small Groceries, and Others], and Online Retailing) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030
Press Release :
Evolving Consumer Preferences and Herbal Benefits of Cupuacu Plant to Propel Market Growth
Consumer preferences continue to evolve at a rapid pace and play an important role in influencing the choice of ingredients used in food & beverages and cosmetic industries. The tectonic shift toward natural, organic, free-form, safe, and healthier products has paved the way for novel products developed using unique ingredients. In recent times, cupuacu butter has gained a considerable amount of popularity and the demand for the same is expected to witness considerable growth during the forecast period. Cupuacu butter is increasingly being used to develop personal & cosmetic products worldwide due to the beneficial herbal properties of the cupuacu plant.
As consumers across the world continue to lean toward a vegan lifestyle, particularly in North America and Europe, the demand for cupuacu butter is on the rise – a trend that is expected to influence the growth of the cupuacu butter market in the upcoming years. A significant rise in the number of beauty- or skin-conscious consumers is another major factor that is expected to propel the demand for cupuacu butter in the forthcoming decade. At the back of these factors, along with innovations coupled and rise in demand for clean label products, the global cupuacu butter market is expected to attain a market value of ~US$ 62 Mn by the end of 2030.
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High Demand from Cosmetic Industry Likely to Propel Cupuacu Butter Market
Within the cosmetic industry, market players continue to develop products in tune with evolving consumer trends and preferences. As the demand for clean label, safe, and natural ingredients continues to grow at a considerable pace, the cupuacu butter market has gained considerable popularity. Natural and clean label skincare and cosmetic products are increasingly being used by consumers worldwide. Due to additional research and development activities, there is growing evidence supporting the benefits of cupuacu butter for skin and hair due to which, cupuacu butter is increasingly being used to develop cosmetic and hair care products. In addition, the exception moisture retention capability coupled with growing popularity as one of the most effective natural antioxidant-rich moisturizers is some of the leading factors due to which, the demand for cupuacu butter from the cosmetic and personal care sector is increasing. Over the past few years, cupuacu butter is also increasingly being used as an alternative to shea butter to treat brittle and dry hair, as it offers improved hydration and a great degree of softness. Haircare companies, particularly in developed regions, including North America and Europe, are leaning toward the use of cupuacu butter to develop high-quality hair conditioners and other products.
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Consumer demand for herbal cosmetic products is on the rise worldwide as awareness pertaining to health and wellness continues to scale new heights. The advent of social media and digital platforms have played an imperative role in increasing consumer awareness, influence consumer preferences, and the promotion of herbal cosmetic products. Players operating in the current cupuacu butter market landscape are expected to predominantly focus on expanding their product portfolio, launch new products, and introduce innovative products in the market to break through the cut-throat competition.
Rise of Veganism and Surge in Demand for Bioactive Ingredients to Fuel Demand
Over the past decade, consumer trends suggest a significant rise in the number of vegans across the world. Present-day consumers are more aware of the functional properties of ingredients in their food and cosmetic products due to which, the demand for bioactive ingredients has witnessed considerable growth. Plant-derived ingredients are set to gain considerable traction in the near future, which in turn is likely to propel the cupuacu butter market during the assessment period. The adoption of cupuacu butter in the food & beverages industry is expected to grow, as it contains a unique phytochemical named theograndin, theophylline, and small traces of caffeine. However, due to low caffeine content, cupuacu is gradually emerging as an ideal alternative to chocolate. Some of the other factors that are expected to augment the demand for cupuacu butter include growing awareness, widening the scope of application, and increasing knowledge and valuation of botanicals in human nutrition.
Market Players Focus on Streamlining Supply Chain, Increase Production Capacity Post COVID-19
The advent of the COVID-19 pandemic is expected to have a strong impact on the global cupuacu butter market. As governments across the world continue to take preventive measures to combat the novel COVID-19 pandemic, lockdowns, border closures, and large-scale disruption of the supply chain are expected to negatively impact the demand for cupuacu butter in the upcoming months. Business contingency plans are expected to be revised, as market participants continue to find novel ways to minimize the impact of the pandemic on their businesses.
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The global cupuacu butter market is expected to expand at a healthy CAGR of ~6% during the forecast period. Evolving consumer preferences, surge in demand for natural food ingredients, rise in vegan population, and high awareness pertaining to the herbal benefits of cupuacu butter are some of the leading factors that are anticipated to propel the demand for cupuacu butter during the forecast period. Market players should focus on research and launch new products to gain an advantage in the current market landscape. While the COVID-19 pandemic is expected to impact the growth of the cupuacu butter market in 2020 and 2021, addressing supply chain challenges should remain a priority.
Cupuaçu Butter Market: Overview
- The global cupuaçu butter market is estimated to value at ~ US$ 34 Mn in 2020, finds Transparency Market Research (TMR) in a recent study. According to the report, the market is anticipated to reach ~US$ 62 Mn by 2030, at a CAGR of ~6.3%.
- Factors impacting the rising demand are unique herbal benefits of cupuaçu butter for skin and wide application in personal care and cosmetic products across the globe. In addition to this, the emergence of clean label products and increasing product innovation is witnessing favorable condition for growth.
- Rising adoption of vegan lifestyles is one of the key reasons propelling growth of cupuaçu butter market. In addition, the cupuaçu butter market is gaining traction among skin conscious consumers, as they prefer organic and herbal products over conventional products.
Cupuaçu Butter: Market Frontrunners
- Conventional, by nature, was the leading segment in 2020 accounting for approximately 85.8% of the market. Furthermore, the organic segment accounts for ~14.1% of the market in terms of value.
- The unrefined segment is leading the global market in terms of grade type, followed by refined and highly refined. These segments accounted for 40.8%, 51.2%, and 8.1% of the market, respectively, on the basis of value in 2020.
- North America leads the global market followed by Europe, Asia Pacific excluding Japan, and Oceania
Cupuaçu Butter Market: Trends
- Herbal Cosmetics Gaining Traction
- Due to increasing awareness regarding health and wellness, consumers are shifting toward the use of herbal products since, they perceive these products as healthier alternatives to conventional products. Herbal products stabilize hormones, increase immunity, support natural healing of the body, and have negligible side effects on the body. Due to these numerous health benefits, the demand for herbal products is increasing globally. Moreover, herbal cosmetics are preferred more than the conventional ones that are available in the market. The growing demand for herbal products by consumers is pushing manufacturers to produce herbal cupuaçu butter-based products, and this trend is anticipated to continue during the forecast period. Thus, increasing demand for herbal products is expected to push sales of cupuaçu butter, as it is one of the ingredients used in such products.
- Innovation- Key to Dominating Market
- The manufacturers of cupuaçu butter-based products can benefit from increasing the frequency of product launches, so that they can easily connect with the consumers and cater to the growing demand for cupuaçu products. Conventionally, cupuaçu butter is available in unrefined, refined, highly refined format; however, market players can formulate diverse cupuaçu butter formats and incorporate them into various products like food and nutraceuticals to attract a larger consumer base.
Cupuaçu Butter Market: Strategies
- Key players operating in the global cupuaçu market are introducing new business-to-business websites, where customers are offered discount on the products listed
- Product Innovation and Launches: Key companies are offering products, which are plant-based due rapidly rising vegan population
For instance, according to the Forbes Media LLC., in the United States, only 1% of the total population was claimed vegan in 2014, and in 2017 the number increased to 6%
Target Region for Market
- In terms of value, countries in North America represented the largest share of the market in 2019 and are expected to remain strong; Europe will retain the second position in the market during the forecast period, followed by APEJ
Cupuaçu Butter Market: Players
- Key players operating in the market, as profiled in the study, include
- Beraca Ingredientes Naturais SA.
- Henry Lamotte Oils GmbH
- Jarchem Industries Inc.
- BIOBRAZIL BOTANICALS
- Shieling Laboratories
- Leith Sourcing, LLC
- Amanaci Ingredients UG & Co. KG
Cupuacu Butter Market - Scope of the Report
Transparency Market Research (TMR) has recently published a market study on the cupuacu butter market. It provides a detailed assessment of key market dynamics, including drivers, trends, opportunities, and restraints, and detailed information about the cupuacu butter market structure. The market study presents exclusive information about how the cupuacu butter market will grow during the forecast period of 2020-2030.
Key indicators of market growth, which include year-on-year (Y-o-Y) growth of the market, value chain, supply chain analysis, and compounded annual growth rate (CAGR) are elaborated in the study in a comprehensive manner. This information is intended to help readers understand the quantitative growth prospects of the cupuacu butter market during the forecast period.
The study is intended to offer a holistic market overview to stakeholders in the cupuacu butter manufacturers, suppliers, distributors, and investors, and to help them develop winning growth strategies. Stakeholders in the cupuacu butter market, which include investors, industry experts, researchers, and journalists, and business researchers, can leverage the information and data presented in TMR’s study.
The study also includes statistics and facts related to the macro as well as microeconomic factors that are impacting expansion of the market. It also offers actionable insights into the future trends in the cupuacu butter market. Furthermore, small businesses and new entrants in the cupuacu butter market can make use of the information presented in this study based on which, they can make appropriate business decisions in order to gain momentum in the market.
Key Questions Answered in TMR’s Cupuacu Butter Market Report
- Which region will continue to remain the most profitable regional market for cupuacu butter market players?
- Which factors will induce a change in the demand for cupuacu butter during the assessment period?
- How will the changing trends impact the cupuacu butter market?
- How can market players capitalize on the low-hanging opportunities in the cupuacu butter market in developed regions?
- Which companies are leading the cupuacu butter market?
- What are the winning strategies of stakeholders in the cupuacu butter market to catapult their position in the forefront?
Cupuacu Butter Market: Research Methodology
In TMR’s study, a unique research methodology is used to conduct extensive research on the growth of the Cupuacu Butter market and identify future growth parameters. This research methodology is a combination of primary and secondary research, to help analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts for compiling the Cupuacu Butter market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, who contributed to the development of this report as a primary resource.
Information acquired from primary resources and secondary resources is compiled in a comprehensive manner. This also acts as a validation from companies in the cupuacu butter market, which makes TMR’s projections more accurate and reliable.
Cupuacu Butter Market – Segmentation
TMR’s studies the cupuacu butter market in terms of a few important segments. These are nature, grade, end use, distribution channel, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.