Mango Butter Market valued at $163.4 Million and CAGR of 13.0 % | Europe is expected to grow at a CAGR of 11.2 % - AMR
International corporations, like Manorama Group, are introducing a fresh selection of mango butter within their assortment of plant-derived merchandise to offer consumers a diverse array of product options.
In this segment of the blog, we will delve into the realm of Allied Market Research.
A new report published by Allied Market Research reveals that the market for mango butter is expected to experience significant growth in the coming years. The report states that the market was valued at $100.4 million in 2019 and is projected to reach $163.4 million by 2027, with a compound annual growth rate of 13.0% from 2021 to 2027. In 2019, Europe was the dominant market, accounting for 38% of the total market share. The report also indicates that there is a potential revenue opportunity of $63.0 million in the mango butter market between 2019 and 2027.
butter. Additionally, the rising popularity of organic and sustainable products among consumers is also contributing to the growth of the mango butter market. Presently, the mango butter market is experiencing a phase of expansion, but there is still plenty of potential for even more growth in the coming years. This is due to the growing demand for ingredients derived from plants, which has compelled manufacturers to incorporate mango butter into their products. Furthermore, the increasing global population and higher incomes have led to a surge in the production of mangoes and subsequently mango butter. Additionally, a shift in consumer preferences towards natural and plant-based products in the cosmetics industry is expected to further fuel the sales of mango butter.
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in the future. Many fresh participants are joining the industry, and the notable existence of market contenders is anticipated to boost competition in the market in upcoming years. The rise in population in emerging nations like China and India has amplified the desire for eco-friendly and natural beauty products. Furthermore, the escalation in individual income has also contributed to the surge in demand for mango.
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Mango butter is also expected to significantly enhance the manufacturing of organic beauty products. In developing nations, individuals have relatively higher personal earnings compared to industrialized nations. As a result, the preference for utilizing skincare lotions, lip balms, and hair care items containing mango butter is ultimately greater.
The worldwide market is divided into different categories such as type, application, and region. When it comes to type, the market is divided into two groups: refined and unrefined. The surge in demand for unrefined mango butter in European nations is the main reason behind the growth of the unrefined segment.
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The research covered a wide range of applications, including food, cosmetics, and pharmaceuticals. We analyzed the trends in the mango butter market in different regions, such as North America (including the United States, Canada, and Mexico), Europe (including the United Kingdom, France, Italy, Spain, Germany, Russia, and other European countries), Asia-Pacific (including China, India, Australia, Japan, South Korea, ASEAN countries, and other Asia-Pacific countries), and LAMEA (including Latin America, the Middle East, and Africa). The largest consumers of mango butters are countries like China, India, Indonesia, Pakistan, and ASEAN countries. Moreover, the growth of the market in these countries is influenced by various factors, including the availability of the product, socio-economic status, per capita expenditure, and consumer purchasing power.
Important Discoveries From The Research
Europe is projected to experience a compound annual growth rate (CAGR) of 11.2% throughout the predicted period for the worldwide mango butter market. The market growth in the mango butter industry is expected to be dominated by the Asia-Pacific region, with a CAGR of 16.1%.
By the year 2027, it is expected that the category of mango butter known for its superior quality will dominate the market, capturing an impressive market share of 72.3%.
The pharmaceutical sector is expected to dominate the worldwide market, experiencing a Compound Annual Growth Rate (CAGR) of 14.6% throughout the projected timeline.
The beauty industry is projected to experience a Compound Annual Growth Rate (CAGR) of 12.0% throughout the predicted timeframe.
The blog segment of this article includes the following companies: All Organic Treasure, Alzo International Incorporated, Avi Natural, Manorama Industries Limited, Ekologie Forte Pvt. Ltd., HallStar Company, Jarchem Industries Inc., Henry Lamotte Oils GmbH, Madina Industrial Corp., and Natural Sourcing, LLC.
David Correa from Allied Analytics LLP can be contacted at 1 800-792-5285 or via email.
Europe's Mango Butter Market To Grow At 11.2% CAGR
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