Mango Butter Market: Current Analysis and Forecast (2022-2028)

Report Description

Global Mango Butter Market is expected to grow at a significant rate of around 12% during the forecast period. A rise in disposable income, increased application of mango butter in the food & beverage, cosmetics, and pharmaceutical industries, and increased consumer awareness of mango butter’s nutritional benefits are some of the prominent factors driving the market for mango butter across the globe. Moreover, the global expansion of many industries, including food and beverage, pharmaceuticals, cosmetics, and personal care, is fueling the growth of the mango butter Market. Also, consumer demand for better texture, appearance, and flavor has paved the way for new levels of creativity across the globe.  Mango seed makes mango butter, which can be used in soaps, cosmetics, toiletries, and medications. About 7–15% of the fat in mango kernels is made up of oleic, palmitic, and stearic acids. Additionally, edible mango butter is used to manufacture chocolate and other food products. Asia and the Indian subcontinent generate most of the world’s mango butter. Conventional cosmetics and personal care products use more natural and plant-based components, like mango butter, plant-based oils, and essential oils.

Technological advancements have helped manufacturers refine mango butter; hence, the European mango butter market is witnessing considerable development. Additionally, traditional cosmetics and personal care products in the region are increasingly using natural and plant-based components like mango butter, plant-based oils, and essential oils, which is anticipated to accelerate the European mango butter market growth in the ensuing years.

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., etc., are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst type, refined category to witness higher CAGR during the forecast period”

Based on type, the market is segmented into Refined, Unrefined. The refined segment grabbed the major market share and dominated the market in 2020. Cosmetic formulators prefer refined mango butter, as it is odorless and, therefore, can be used in any formulation. It 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.

“Amongst application, the cosmetics segment to hold a significant share in the market in 2020”

Based on the application, the market is categorized into Food, Cosmetics, Pharmaceuticals. Among these, the cosmetics segment grabbed the major market share and dominated the market in 2020.  Mango butter is used in cosmetic formulations as a substitute for shea butter and cocoa butter. It is often used in anti-aging products and can be used in sun care products. Cosmetic formulators usually prefer refined mango butter, as it is odorless and can be used in any formulation. Furthermore, consumers are actively seeking natural and organic cosmetic products. Hence, an increase in the application of mango butter in the cosmetic industry is a major driving force in the global market.

“Europe to hold a significant share in the market”

Europe is anticipated to grow at a substantial CAGR during the forecast period owing to the growing technological advancements that have helped manufacturers refine mango butter. Additionally, traditional cosmetics and personal care products in the region are increasingly using natural and plant-based components like mango butter, plant-based oils, and essential oils, which is anticipated to accelerate the European mango butter market growth in the ensuing years.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global Mango Butter market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Mango Butter Market Analysis (2022-2028)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global Mango Butter market were the three major steps undertaken to create and analyze the adoption of Mango Butter in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Mango Butter market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Mango Butter market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Mango Butter market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Mango Butter market. Further, we conducted factor analysis using dependent and independent variables such as the type and application of Mango Butter. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Mango Butter market across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Mango Butter market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the Mango Butter market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global Mango Butter market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Mango Butter market. Data was split into several segments & sub-segments post studying various parameters and trends in the product type and distribution channel in the global Mango Butter market.

The main objective of the Global Mango Butter Market Study

The current & future market trends of the global Mango Butter market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the Mango Butter market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of type and application.
• Define and analysis of the regulatory framework for the Mango Butter
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the Mango Butter market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
• Company profiles of the Mango Butter market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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