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Mango Butter Market

Mango Butter Market: Information by Type (Refined Mango Butter, Unrefined Mango Butter), Applications (Cosmetics, Food, Pharmaceuticals), and Region — Forecast till 2030

Published At : 26 Aug, 2022
Updated At : 26 Aug, 2022
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Market Snapshot
Base Year:
2021
Study Period:
2020-2030
CAGR:
13.2 %
Fastest Growing Market:
Asia Pacific
Largest Market:
Europe

The global mango butter market size 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). 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, 65% of SOS comprises mango butter (1, 3-distearoyl-2-oleoyl-glycerol). Mango butter has greater lubricity and excellent moisturizing qualities. It quickly melts at body temperature, making possible sticks, balms, and suppositories. It also mitigates the drying effects of cleansers and bar soaps and shields light against UV radiation.

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. Due in part to a movement in customer preference towards sustainable raw materials, businesses have been substituting natural ingredients for fake chemical ones during the past few years. This factor is accelerating the market for mango butter and is anticipated to continue over the following years.

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Market Dynamics

Market Driving Factors

Upsurge in Online Sales in Remote Areas to Support Market Growth

The mango butter market is a relatively new industry, still in its initial establishment years; hence, manufacturers of mango butter are limited. Most of the mango butter is produced in Asian countries and exported to developed areas of Europe and North America. In LAMEA, consumers have limited exposure to the industry, as the region is still underdeveloped and has a majority of developing countries. Asia-Pacific is growing, and customers prefer using naturally derived cosmetics. Hence, most shoppers from tier 2 & tier 3 cities and rural areas engage in value-based shopping on e-commerce sites for various affordable products. This affordability is attributed to initiatives such as discounts, EMIs, and cash-backs. Options such as cash on delivery and replacements have also created trust among consumers regarding online shopping.

Furthermore, rural customers increasingly aspire to buy branded products. This acts as the critical benefit of e-commerce platforms for these customers. The number of brands available in smaller cities and towns is relatively low in brick-and-mortar shops. E-commerce platforms meet this requirement by giving users access to a wide range of brands and offering product ratings and reviews that provide information about these brands. This increases the number of people eager to shop online by offering consumers more value than just low pricing in terms of features, aesthetics, and trends. Therefore, the availability of niche products through online sales channels drives the mango butter market growth.

High Demand for Mango Butter in the Cosmetic & Pharmaceutical Industry to Bolster Market Growth

The cosmetic industry is witnessing rapid growth and notably contributes to strengthening the global economy. Plant-based ingredients such as exotic lipids/fats obtained from de-shelled pressed fruit kernels of shea, mango, and kokum tree are new additions to the cosmetic and pharmaceutical industries. They are beneficial ingredients and have many attributes that make them suitable for skin care. Furthermore, these natural lipids have high oxidative resistance and are biocompatible, having no harmful effects on the skin.

Exotic fats used in skin care products are helpful in the restoration of a sufficient layer of skin lipids and skin elasticity and also help in boosting natural skin regeneration and increasing skin hydration. Moreover, mango butter can be an ingenious replacement for cocoa butter, mineral, and petroleum-based emollients, as it retains the skin's freshness. Thus, beneficial properties associated with mango butter fuels its demand in the cosmetic industry, thereby boosting the growth of the overall mango butter market.

Market Restraining Factors

Restricted Availability of the Product in Developed Regions to Hinder Market Growth

Mango butter is produced in Asia, majorly in the Indian subcontinent. Countries such as India, China, Pakistan, and Indonesia are among the leading growers of mangoes in the world; hence, mango butter production is higher in these regions. As mango butter is mainly produced in this region, it is exported to developed countries of Europe and North America.

An increase in importation leads to a rise in the production cost of mango butter and related products, thereby incurring additional costs, which is a major restraint to the market growth. Producers rely heavily on supplies from developing nations because there aren't many manufacturers in industrialized regions. The production and export of the product are hampered by internal problems and climatic variances in emerging countries. Consequently, this element represents a possible danger to the expansion of the mango butter market share.

Global Mango Butter Market Opportunities

Extensive Use of Mango Butter in Various Industry Verticals to Spur Market Opportunities

The mango butter sector is still in its infancy and is growing at a special rate. Presently, mango butter is witnessing a gradual increase in the cosmetic, pharmaceutical, and food industries. There lies an opportunity in research for using mango butter in other industry verticals such as paint, chemical, and beverage, where plant-based ingredients can be used. Mango butter possesses a wide range of properties that can prove beneficial to be used in the chemical and beverage industry.

Segmental Analysis

The global market for mango butter is segmented by type, application, and region. 

On the Basis of Type

Type-wise, the global 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. Refined mango butter represents more than 60% of the mango butter market share. Cosmetic formulators prefer refined mango butter, as it is odorless and, therefore, can be used in any formulations. 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.

The Unrefined Mango Butter segment is the fastest growing. Due to the numerous advantages of unrefined or cold-pressed oils, consumer demand for less processed oils is rising. For instance, unrefined mango butter promotes collagen and keeps the skin young by stimulating the tissues. It has calming, hydrating, and nourishing qualities that make it appropriate for dry, damaged skin and hair. Unrefined mango butter reduces inflammation and is a chemical-free substitute for various cosmetic items. Due to its property, unrefined mango butter can treat multiple conditions, including sunburn, rashes, frostbite, psoriasis, dry, itchy skin, and stretch marks. Thus, the sum of these elements promotes global market expansion.

On the Basis of Application

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. It accounts for nearly 50% of sales of mango butter globally. It is used in a broad range of cosmetic products, including skin care products such as creams, soaps, balms, body butter, lip balms, shaving creams, and hair care products. Mango butter can be 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.

The Pharmaceutical industry is the fastest growing. Mango butter finds its primary application in the pharmaceutical industry, as it possesses medicinal attributes. For instance, mango butter exhibits anti-inflammatory, anti-microbial, antioxidant, anti-inflammatory, analgesic, and regenerative properties. In addition, it is used by therapists to ease tension, fatigue, and muscle aches, mainly when used while massaging. It is also used in healing salves and creams. The health products sector accounts for around 25% of the mango butter market share. Hence, the demand for mango butter has been growing rapidly in the last few years.

The Food industry accounts for nearly 30% of mango butter sales. Mango butter exhibits functional and enhanced nutritional properties, which fuel its demand in the food industry. For instance, mango butter can be used as a natural antioxidant, trans-fat-free edible oil, food additive, functional food ingredient, and cocoa butter equivalent in chocolate and confectionery products. Mango kernel fat—alone or blended with other nut fats like almond and palm stearin—can act as a cocoa butter replacer in many food products. Hence, these valuable properties of mango butter are expected to boost its demand in the food industry during the forecast period.

Regional Analysis

Region-wise, the global market for mango butter is analyzed across North America, Europe, Asia-Pacific, and LAMEA. 

Why is europe projected to be the most lucrative market during the assessment period?

Mango Butter Market Regional Analysis

Regional Growth Insights Request Sample Pages

Europe commands the leading market position and is estimated to grow at a CAGR of 11.4% over the forecast period. 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.

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.

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 increase 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.

Competitive Landscape

List of key the global mango butter market manufacturers profiled

  • 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.
  • Natural Sourcing LLC

Recent Developments by Key Players

  • April 2022 - Alzo International's commitment to environmental responsibility features 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.

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
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