According to a new report published by Allied Market Research, titled, “Murumuru Butter Market,” The murumuru butter market size was valued at $802.00 million in 2021, and is estimated to reach $1.8 billion by 2031, growing at a CAGR of 8.4% from 2022 to 2031. Murumuru butter is made from the fruit and fat of murumuru nuts. Nuts fall from tall palm trees that grow everywhere in moist soil and moist pools. They are usually made in Belem at the mouth of the Amazon and are abundant there. Similar to coconut oil, murumuru butter is known for its nutritious properties and it has multiple benefits for skin, hair, and lips.
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Surge in demand for cosmetics due to hectic lifestyles, increase in the use of murumuru butter, rise in technological advancements, and surge in demand for murumuru butter from the retail industry and online sites are factors driving the growth of the global murumuru butter market.
Major Key Players:
The major players analyzed for the global murumuru butter industry jarchem industries, Inc., Liberty Natural Products, Caribbean Natural Products Inc, BERACA INGREDIENTS NATURAIS SA, LUSH RETAIL LIMITED, NSI Group, LLC, Vigon International, Inc, Hallstar Company, H.F.Ed. Meyer GmbH & Co. KG , O&3 Limited . These major market players have adopted various strategies such as collaboration to expand their market reach. The new market players are also entering the market with the latest and advanced versions of murumuru butter products.
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KEY FINDINGS OF THE STUDY
- By nature, conventional murumuru butter was the highest contributors for the market in 2021, and is anticipated to grow at a significant CAGR of 8.3% during the forecast period.
- By end user, the haircare segment is expected to witness growth at a CAGR of 9.1%, in terms of value, during the forecast period.
- By distribution channel, the B2C segment is anticipated to witness growth at a CAGR of 8.9% during the forecast period.
- Region-wise, North America was the dominant region in 2021, occupying more than half of the murumuru butter market share
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The impact of the COVID-19 pandemic on the murumuru butter market growth was negative, due to the supply chain disruption. All manufacturing and production units were halted during the outbreak. In addition, trade restrictions and travel restrictions hindered the growth of the global murumuru butter market demand.
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