Global Mango Butter Market Ascends at a Noteworthy CAGR of 13.2%

Introduction

Mango butter is produced from the mango seed and is ideal for soaps, cosmetics, toiletries, and pharmaceuticals. Mango kernel has roughly 7–15% fat rich in palmitic, stearic, and oleic acids. In addition, mango butter has 65% SOS (1, 3-distearoyl-2-oleoyl-glycerol). Mango butter demonstrates exceptional moisturizing effects and increased lubricity. It melts rapidly at skin temperature, making it perfect for sticks, balms, and suppositories. It also counteracts the drying effects of bar soaps and cleansers and gives light protection against UV rays.

Mango butter has edible characteristics and is used to manufacture chocolate and other food items. Mango butter is predominantly manufactured in Asia and the Indian subcontinent. Natural and plant-based components such as mango butter, plant-based oils, and essential oils are increasingly employed in conventional cosmetics and personal care products. In the past few years, firms have been replacing artificial chemical compounds with natural chemicals, mainly due to a shift in consumer desire toward sustainable raw materials. This feature is driving the expansion of the mango butter market and is likely to do so over the forecast period.

Market Dynamics

Increased Consumer Demand for Plant-Based Ingredients in Cosmetic Industry Propels the Market for Mango Butter

Mango butter is a critical ingredient in creating skin care products such as anti-aging lotions and sun care creams in cosmetics. Cosmetic formulators typically prefer refined mango butter because it is odorless and can be used in any composition. Additionally, people are aggressively pursuing natural and organic cosmetics, owing to the increased demand for natural ingredients in the cosmetics industry. A shift in consumer preference toward natural cosmetics and cosmetics businesses' efforts to replace artificial components with natural alternatives also contribute to the market expansion. 

In addition, natural and plant-based components, including mango butter, plant-based oils, and essential oils, are employed in conventional cosmetics and personal care products, which is the primary factor driving the global mango butter market. In recent years, artificial chemical compounds have been replaced by natural chemicals due to a shift in customer desire for sustainable raw materials. This factor is driving the expansion of the market for mango butter and is projected to continue t do so throughout the forecast period.

Extensive Use of Mango Butter in Various Industry Verticals Creates Umpteen Growth Opportunities

The mango butter sector is still in its early stages of development and expanding rapidly. In the cosmetic, pharmaceutical, and food industries, the use of mango butter is increasing gradually. There exists research possible for the application of mango butter in other sectors, such as paint, chemicals, and beverages, where plant-based compounds can be utilized. Mango butter possesses many qualities that can be used in the chemical and beverage industries.

Regional Insights

Europe is the highest revenue contributor and is estimated to grow at a CAGR of 11.4% over the forecast period. Mango butter makers in Europe have improved their products due to technological advances. As a result, the mango butter market in Europe is growing significantly. Also, natural and plant-based ingredients like mango butter, plant-based oils, and essential oils are used more and more in conventional cosmetics and personal care products in the region. This is expected to boost the growth of the European mango butter market in the coming years. 

North America is likely to generate USD 72 million by 2030, growing at a CAGR of 12.5%. This is attributed to the rising population and bettering lifestyle. Increased purchasing power in this region significantly increases the sales of mango butter products. Customers choose natural and organic food and cosmetics items. A high per capita income and a persistent habit of people keeping their physical appearance contribute to increased spending on high-end cosmetics products. Since mango butter is just brought to the market, it is a new product from a growth standpoint. Consequently, there are few producers, and new entrants will show significant growth potential during the forecast period. 

Asia-Pacific is the fastest-growing region. The Asia-Pacific market exhibits high potential for companies offering new mango butter products in terms of cosmetic products lineup. Moreover, most mango butter is produced in Asian countries and exported to developed areas of Europe and North America, contributing to the market growth. Online sales of mango butter products have also fueled the Asian-Pacific market. 

Key Highlights

• The global mango butter market was worth USD 115 million in 2021. It is projected to reach USD 350 million by 2030, growing at a CAGR of 13.2% during the forecast period (2022–2030). 
• Type-wise, the global mango butter market is bifurcated into Refined Mango Butter and Unrefined Mango Butter. The Refined Mango Butter segment is the highest contributor to the market and is estimated to grow at a CAGR of 12.7% over the forecast period.
• Application-wise, the global mango butter market includes Cosmetics, Food, and Pharmaceuticals. The Cosmetic industry is the highest contributor to the market and is estimated to grow at a CAGR of 12.2% over the forecast period.

Competitive Players

Competitive Landscape

Key players in the global mango butter market are All Organic Treasure, Alzo International Incorporated, Manorama Industries Limited, Avi Natural, Ekologie Forte Pvt. Ltd., HallStar Company, Jarchem Industries Inc., Henry Lamotte Oils GmbH, Madina Industrial Corp., and Natural Sourcing, LLC.

Recent Developments

Market News

• In April 2022, Alzo International's commitment to environmental responsibility featured a series of waterless and sustainable formulations. These anhydrous prototypes for skin, hair, and face not only provide unique performance and aesthetic benefits but also conserve water, a valued natural resource, requiring fewer preservatives, plastics for packaging, and less space for storage. They are more concentrated, cost-effective, and energy-efficient.

Segmentation

Global Mango Butter Market: Segmentation

By Type

• Refined Mango Butter
• Unrefined Mango Butter 

By Application

• Cosmetics
• Food
• Pharmaceuticals 

By Regions

• North America
• Europe
• Asia-Pacific
• LAMEA