From about USD 34 million in 2020, the global cupuaçu butter market is expected to grow to approximately USD 62 million by 2030 (compared to USD 3 billion for murumuru in 2030), at a compound annual growth rate (CAGR) of about 6.3% from 2020 to 2030, according to market intelligence company Transparency Market Research (TMR).
The tectonic shift of consumer preferences toward natural, organic, free-from, safe, and healthy products has played an important role in influencing the choice of ingredients used in the cosmetics, foods and beverages and paved the way for novel products developed using unique ingredients. Murumuru butter, for instance, is being pervasively used in cosmetics products. It is a key ingredient in several products from Brazil’s cosmetics giant Natura and is also widely used in a wide array of 100% vegetarian and handmade facial and body care items from UK-based company Lush. California-based Physicians Formula recently increased its portfolio and raised awareness for their Murumuru Butter Blush by tying up with small-scale retailers.
According to Transparency Market Research, cupuaçu butter benefits from the same market trends. “As consumers across the world continue to lean toward a vegan lifestyle, particularly in North America and Europe, the demand for cupuacu butter is on the rise. A significant rise in the number of beauty- or skin-conscious consumers is another major factor that is expected to propel the demand for cupuacu butter in the forthcoming decade,” says the company.
As a consequence, cupuaçu butter is used in a growing variety of cosmetic and personal care applications, including skin and hair care products. Additionally, it is also significantly used in the food processing industry.
"Over the past few years, cupuacu butter is also increasingly being used as an alternative to shea butter to treat brittle and dry hair, as it offers improved hydration and a great degree of softness. Haircare companies, particularly in developed regions, including North America and Europe, are leaning toward the use of cupuacu butter to develop high-quality hair conditioners and other products," details TMR.
However, the COVID-19 pandemic will certainly impact the growth of the cupuacu butter market in 2020 and 2021. In such a context, "addressing supply chain challenges should remain a priority" warns the firm.