Rise in consumer demand for plant-based ingredients in the cosmetic industry, surge in online sales in remote areas, and growth in demand for mango butter in the cosmetic and pharmaceutical industry drive the growth of the global mango butter market. Moreover, the market across Europe held the lion’s share in 2019, and is expected to lead the trail throughout the forecast period.

Portland, OR, June 07, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Report, the global mango butter industry generated $100.4 million in 2019, and is expected to reach $163.4 million by 2027, witnessing a CAGR of 13.0% from 2021 to 2027. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, competitive scenario, and regional landscape.

Rise in consumer demand for plant-based ingredients in the cosmetic industry, surge in online sales in remote areas, and growth in demand for mango butter in the cosmetic and pharmaceutical industry drive the growth of the global mango butter market. However, limited availability of the product and stringent quality management standards from buyers in developed regions restrain the growth to some extent. Moreover, extensive use of mango butter in various industry verticals anticipates to usher a plethora of opportunities for the market players.

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Covid-19 Scenario

• The global shutdown led to suspend manufacturing facilities and R&D activities for mango butter. Also, the disrupted supply chain created a huge shortage of raw materials. 
• However, the government in various regions are easing off the existing regulations, thereby allowing the industries to resume their working processes.

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The global market is segmented on the basis of type, application, and region. Based on type, the refined mango butter segment held the highest market share, with nearly three-fourths of the global mango butter market in 2019, and would maintain its lead share in terms of revenue throughout the forecast period. On the other hand, the unrefined mango segment is expected to grow at the highest CAGR of 14.2% from 2021 to 2027.

Based on application, the cosmetic segment dominated with the highest market share in 2019, holding for more than half of the global mango butter market, and is expected to maintain its lead position throughout the forecast period.  However, the pharmaceutical segment is projected to witness the fastest CAGR of 14.6% from 2021 to 2027.

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Based on region, the market is studied across Asia-Pacific, Europe, LAMEA, and North America. The market across Europe held the lion’s share in 2019, holding to nearly two-fifths of the global market, and will maintain its dominance status by 2027. Conversely, the Asia-Pacific region is expected to exhibit the largest CAGR of 16.1% throughout the forecast period.

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

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