Murumuru Butter Market: Introduction
A recent study published by Transparency Market Research on the murumuru butter market includes global industry analysis and opportunity assessment for 2020-2030. Revenue generated from the global murumuru butter market is valued at ~US$ 1 Bn in 2020, which is estimated to rise at a CAGR of ~7.9%, to reach US$ 3 Bn by 2030.
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Increasing Applications of Murumuru in Cosmetics and Personal Care Products to Boost Growth
Cosmetic product manufacturers have started to harness the power of murumuru butter to carry a level of expansion in the largely demure cosmetics industry. Increasing positive customer perception about the usage of products that deliver multiple benefits, along with perfect skin and body boosts the demand for murumuru butter among manufacturers in the cosmetics and personal care industry. Murumuru butter is used in hair care, skin care, lotions, and color cosmetics, among other products, due to its various functionalities.
Murumuru butter works as emollient, surfactant, and bioactive in different cosmetics and personal care products. Through constant RD, cosmetics and personal care products manufacturers are trying to consolidate a larger share of the skin care industry with the introduction of innovative products containing murumuru butter.
Increasing Demand for Skin Care and Hair Care Products to Bolster Market Growth
The growing concern regarding health of hair and skin among consumers is one of the main factors boosting the demand for murumuru butter. Murumuru butter seals moisture in the skin and soothes sensitive skin due to its natural anti-inflammatory properties. It also relieves strained muscles when applied as a massage cream. Murumuru butter is also beneficial as a remedial ingredient in skincare products.
It is one of the best treatments for skin conditions, including psoriasis and eczema, in addition to healing and nourishing cracked skin or minor skin wounds such as superficial cuts or burns. Murumuru butter is also well known for high Vitamin A content and has been valued for its anti-ageing property and capability to repair damaged skin. Factors including growing skin allergies and changing lifestyles shape consumer demands, which influence companies to develop murumuru butter-based (natural ingredients) skin and personal care products.
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Cosmeceuticals: A Lucrative Sector for Players Offering Murumuru Butter
As a highly cost-effective emollient and cosmetic ingredient, murumuru butter has a robust demand from players in the cosmeceutical industry. High miscibility with moderate-polar and non-polar drugs permits the use of murumuru butter in the pharmaceutical and cosmetics industries. Besides, murumuru butter is cost-effective as compared to other ingredients that are used in dermal care products. Thus, murumuru butter has excellent prospects in the cosmeceutical industry.
Impact of COVID-19: Global Murumuru Butter Market
Murumuru is grown only in the Amazon Rainforest vegetation of Brazil and is widely used in the cosmetics industry for the production of various products, including skin care, sun care, colour cosmetics, and other beauty products. The global cosmetics and personal care industry is affected due to the outbreak of COVID-19. The World Health Organization acknowledged it as pandemic on March 11, 2020; this outbreak has adversely impacted the value chain and supply chain of several industries.
As murumuru butter is only grown in Brazil, it is imported by other countries as well as manufacturers for the production of murumuru butter-based end products. Due to the outbreak of COVID-19, governments of several countries have restricted the import-export of products, which is impacting the murumuru butter market.
Murumuru Butter Market: Segmentation
Murumuru Butter Market by Nature
- Organic
- Conventional
Murumuru Butter Market by Grade
- Unrefined
- Refined
- Highly Refined
Murumuru Butter Market by End Use
- Skin Care
- Hair Care
- Cosmetics
- Sun Care
- Retail/Household
Murumuru Butter: Market Frontrunners
- Organic and conventional murumuru butter are the key segments by nature; among which conventional murumuru butter is expected to be the leading segment in 2020, accounting for the approximately 1%of the market in terms of value.
- The refined murumuru butter segment is dominant in the global murumuru butter market in terms of grade. It is followed by unrefined and highly refined. These segments accounted for 4%, and 15.5%of the market, respectively, based on the value.
- Skin care, hair care, cosmetics, sun care, and retail/household are key segments in the global murumuru butter market based on end use. Among these segments, skin care and cosmetics products hold approximately ~80% market share in terms of market value.
- North America leads the global market followed by Europe that is60% and ~18% of total market share, whereas Latin America, Asia Pacific, Oceania, Middle East Africa accounts for the remaining market share
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Demand for Cosmetics Increases with Introduction of Murumuru Butter-infused Blushes
The lightweight, non-greasy, and restorative murumuru butter is acquiring prominence in skin care and cosmetics products. Companies in the murumuru butter market are investing in capacity additions to manufacture body washes, makeup removers, and moisturizers. As such, murumuru butter is being pervasively used in cosmetics products. For instance, California-based cosmetics company Physicians Formula is increasing its portfolio by raising awareness for their product Murumuru Butter Blush by tying up with small-scale retailers.
The murumuru butter market is estimated to reach ~US$ 3 Bn by the end of 2030. This is evident since companies are increasing their RD activities to infuse essential fatty acids and pro-vitamins in cosmetics products.
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