Wilmington, Delaware, United States, Sept. 28, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The murumuru butter market was valued at US$ 1 billion in 2020. The murumuru butter market is expected to reach US$ 3 billion by 2030. Murumuru butter market revenue is projected to rise at a CAGR of 7.9% over the forecast period.
With customers all over the world realizing the health benefits of organic and natural cosmetics, murumuru butter is becoming more popular. Murumuru butter has been recognized as a high-end cosmetic for many years. Due to limited access to high-end, non-organic cosmetics, a lot of people use cheap or no cosmetics at all.
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A total of 900 million people around the world have problems with their skin and hair, according to the World Health Organization. Technology advancements and new scientific discoveries have led to an increasing number of skin condition treatment items on the market.
With murumuru butter becoming an eco-friendly material, the cosmetic and personal care industry has changed. Environmentally friendly products are gaining popularity among consumers. With a large segment of the global population becoming increasingly environmentally conscious, murumuru butter will experience promising growth.
A murumuru butter supplement may help restore the skin's moisture barrier by providing medium and long-chain fatty acids, including lauric and myristic acids, similar to coconut butter.
Key Findings of Market Report
- Murumuru butter is expected to lead the market for both organic and conventional products. The company held 80.1% of the market share in 2020.
- The refined murumuru butter market is expected to be dominant in the near future. A 33.4% share of the market was held by the market.
- In 2020, skincare and cosmetics accounted for approximately 80% of the market.
- The North American market for murumuru butter is the largest, followed by the European market.
- As technology and innovation advance, demand for these products is expected to increase.
Global Murumuru Butter Market: Growth Drivers
- The large number of people attracted to cosmetics has contributed to the growth of the murumuru butter market worldwide. In addition to social media platforms, large investments in murumuru butter products are fueling global demand. In addition, ease of access and availability are expected to drive the market. Consumer awareness and demand for vegan products have led to the growth of this industry.
- Due to its anti-inflammatory properties, murumuru butter can be used to treat irritated or inflamed skin. Besides soothing irritated skin, it also restores moisture to dry skin.
- The product is a high-quality emollient that is exceptionally moisturizing. A variety of cosmetics contain it, including body butter, shampoos, lip balms, and more are in growing demand.
- Due to the increase in demand for mobile phones and the widespread use of the Internet, the market has been able to sustain its growth. Social media influencers and the increasing number of reviews on these platforms have been driving a lot of demand.
- There has been a significant increase in consumer awareness and skin care among consumers coupled with the increased number of products available in the market for certain skin types. All these factors are expected to increase sales of the murumuru butter market.
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Murumuru Butter Market: Regional Landscape
- Murumuru butter was originally favored by Brazilians and some other South American countries but has now gained popularity in North America, Europe, and Asia as well.
- Murumuru butter in the United States is experiencing a rising tide of popularity. The prevalence of online shopping has led to a large portion of cosmetics purchases in the United States. With increased income, consumers are able to choose healthier solutions to benefit their health and the environment. As a result, the market in the region is experiencing significant growth.
- Increasingly influential advertisements and the increased presence of key manufacturers in Europe have increased demand for murmur butter in the market.
Global Murumuru Butter Market: Key Players
A number of murumuru butter manufacturers introduced products through online retailing by key players, and they are offering notable discounts to attract online shoppers. New products are being launched that boost the skin's moisture retention or dryness resistance.
Murumuru butter market key players, as identified in the study, are,
- Beraca Ingredientes Naturais SA
- Hallstar
- Jarchem Industries Inc.
- Henry Lamotte Oils GmbH
- O&3
- Citróleo Groups
Key Developments
- In September 2023, Laneige launched a gummy bear & sweet candy lip sleeping mask. Combined with the irresistible scents of everyone's favorite treats, Laneige's Lip Sleeping Mask was created to deliver the renowned effectiveness of the Lip Sleeping Mask. For complete overnight lip protection, the product is infused with Coconut Oil, Shea Butter, and Murumuru Seed Butter to help hydrate and nourish lips.
- In September 2023, Fenty Beauty launched its foundation, which works like a Paris filter. With murumuru butter and sodium hyaluronate, Eaze Drop Blur + Smooth Tint Stick hydrates the skin.
Global Murumuru Butter Market: Segmentation
By Nature
- Organic
- Conventional
By Grade
- Unrefined
- Refined
- Highly Refined
By End User
- Skin Care
- Hair Care
- Cosmetics
- Sun Care
- Retail/Household
By Distribution Channel
- B2B
- B2C
By Region
- North America
- Latin America
- Europe
- Middle East & Africa
- Asia Pacific Excluding Japan
- Japan
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