Kokum butter, derived from the seeds of the Garcinia Indica tree, is prized for its culinary and therapeutic uses, making it a versatile ingredient across various industries.
NEWARK, Del, Oct. 05, 2023 (GLOBE NEWSWIRE) — As per FMI’s analysis, the global kokum butter market is expected to secure US$ 692.6 million in 2023 and reach US$ 1,236.2 million by 2033. The market is estimated to ensure a CAGR of 6.3% during the forecast period. Growing demand in the food and beverage and pharmaceuticals industry is expected to play a key role in driving the market growth during the forecast period.
The Indian Western Ghats region is home to an outstanding array of plant species, each with its own story. One such plant is kokum, a tree that has captivated consumers because of its thick carpet of green leaves and red-tinged frail turning leaves. Its popularity as a culinary component, as well as its therapeutic benefits, contribute to its attractiveness. Kokum butter is obtained by extracting and processing the seeds of the Garcinia Indica (kokum) tree, which thrives naturally in India’s tropical regions. This butter has acquired prominence due to its multiple beneficial characteristics and adaptability throughout industries such as food, cosmetics, and pharmaceuticals.
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Factors Supporting Global Kokum Butter Market Growth
Rise in demand by consumers for natural and organically harvested products.
The diverse range of health benefits of kokum butter attracts consumers. It acts as a rich source of vitamin E, prevents premature aging, is a good omega-6 fatty acid, and reduces inflammation in skin tissues.
The expansion of the cosmetic and skincare industry offers an opportunity for the kokum butter market players to bring in products such as lip balms, moisturizers, eye creams, and so on, using kokum butter and its anti-inflammatory properties.
High disposable income leads to a greater purchasing power of consumers of premium skincare products, which is another factor driving market growth.
Kokum butter’s high triglyceride concentration, low melting point, and solid fat content make it an excellent replacement for cocoa butter in the production of chocolate.
“Kokum butter is a versatile natural ingredient with various applications,” highlights Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.), referencing their recent study. “Derived from the seeds of the Garcinia indica tree, this butter is valued for its moisturizing and emollient properties, making it a popular choice in skincare and cosmetics.”
Key Market Takeaways
The kokum butter market expanded at a CAGR of 6.3% from 2023 to 2033.
By 2033, China’s kokum butter market is projected to expand, with a CAGR of 10.2%.
In 2022, the United States dominated the kokum butter market with a share of 22.6%.
In 2022, Germany expanded significantly in the kokum butter market business, with a share of 6.2%.
India is expected to emerge as a dominant region in the kokum butter market in 2023, securing a substantial 6.9% market CAGR.
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Competitive Landscape
Brands that produce and market kokum butter are certain to gain from a shift towards digital marketing, such as social media channels, commercials, and other comparable marketing techniques. Using the client base acquired from influencers’ social media followers is another way to alert consumers to the simplicity and other benefits of kokum butter over regular butter.
Key Companies Profiled
- International Cosmetic Science Centre
- Manorama Group
- Keynote International
- Villa Germania Alimentos S.A.
- Ausmetics Daily Chemicals
- Cargill
- Mewah Group
- VINK Chemicals
- Musim Mas
- Akoma Cooperative
Recent Developments
Keynote International, a global export house for gourmet collections, is committed to democratizing good taste and wholesome flavors. It specializes in a premium range of products such as white truffle honey, Indian borage honey, Ajwain honey and so on.
Almunajem Foods Company, in May 2023, to discuss and address the inquiries of analysts and investors, held an earnings conference call with the investors to discuss the fiscal year 2022 and the results of the 1st quarter of 2023.
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Key Segments Profiled in the Kokum Butter Industry Survey
Kokum Butter Market by Application:
- Creams
- Skin Lotions
- Balms
- Shaving Creams
- Conditioners
- Lipsticks
- Body Butters
- Moisturizing Creams
- Hair Care Products
- Soaps
- Toiletries
- Confectionery
- Bakery Products
Kokum Butter Market by End Use:
- Pharmaceutical Industry
- Cosmetic Industry
- Other End Uses
Kokum Butter Market by Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
Author
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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Flavored Butter And Oils Market Outlook: In 2023, the global flavoured butter and oils market is anticipated to be worth US$498.3 million US$. With cooked breakfasts and lunches overtaking takeaway, sales of flavoured butter and oils are predicted to reach US$ 930.8 million by 2033.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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