The global shea butter market was valued at approximately USD 2.4 billion in 2024 and is projected to reach USD 4.4 billion by 2033, (Straits Research, 2024). The rising demand for natural ingredients in cosmetics, food processing, and pharmaceuticals has helped shea evolve from being a niche commodity to the mainstream category. It is now one of Africa's most strategically significant agricultural exports, and the window to build meaningful positions in this market is open right now.

For us at SFI Agri, our decision to formalise our entry through membership of the Global Shea Alliance is less about opportunity alone, and more about timing, alignment, and a clear view of where the industry is heading.

A market at an inflection point

The shea industry is changing fast. A prime example of this change is the fairly recent ban The Nigerian government and a few other West African countries placed on the export of raw shea nuts. This move was designed to ensure that the value generated from processing shea stays within the region rather than being exported to facilities elsewhere.

For us, we recognize this development as a signal.

Nigeria is the heart of the shea industry, accounting for approximately 45% of global shea nut production, with annual output of around 400,000 tonnes (CBI / Nigerian Export Promotion Council).

That fact is still underappreciated in many trading circles. Historically, those nuts were harvested in Nigeria and exported raw for processing elsewhere. That is changing now, and it changes the entire calculus for how you engage with this market. The processing capacity, the value addition, the job creation, these are increasingly anchored at origin. Companies that want long-term, stable access to quality shea need to build relationships accordingly. We are building ours now.

A natural fit, not a pivot

Our entry into shea is not a departure from our existing strategy, it is an extension of it.

We already have a strong operational footprint in Nigeria, including an active cocoa processing operation built on deep field presence, rigorous quality control, and well-managed supplier relationships. Those same capabilities; sourcing networks, on-the-ground knowledge, risk management translate directly into shea.

As Jason Green, our Head of Sustainable Sourcing, Africa, puts it: "One of our strongest attributes is our field presence; understanding how to manage quality up-country, managing supplier performance, managing delivery risks. All of that applies to shea just as it does to cocoa."

Beyond the operational overlap, we have concrete plans to develop shea processing infrastructure in Nigeria through a facility positioned alongside our existing cocoa operation. Our ambition is not simply to trade shea but to participate in the value chain more deeply, capturing value at origin in a way that benefits Nigeria as much as it benefits us. This aligns directly with the direction the Nigerian government is actively encouraging. Shea processing has been identified as a priority investment area, one where government support and protection is already being signalled to investors. That is a significant development, and one we are paying close attention to.

The Global Shea Alliance: more than a membership

The Global Shea Alliance brings together producers, processors, traders, exporters and end users across together. Joining it gives us access to the conversations that matter most in this industry, and a seat at the table when those conversations shape policy, standards, and the future direction of the sector.

Sustainability at the centre

Perhaps the most important dimension of our shea ambitions is the one least visible in a trading context: the people at the very beginning of the supply chain.

An estimated 16 million women across 21 African countries depend on the shea tree for their livelihoods, according to the Global Shea Alliance and UNDP, with 2.2 million of those in Nigeria alone (CBI). These women harvest and process shea nuts, often within cooperatives. Interestingly, at the household level, shea can account for up to 32% of available cash income, typically earned during the agricultural lean season (International Trade Centre). Yet despite their central role, these groups operate largely outside formal governance structures, without the institutional support that would stabilise their livelihoods or give them consistent, fair access to markets.

"There's a lot that can be done to support these women's communities," Jason notes. "We'll be working alongside them to improve their social situation, support their communities, and provide practical help, including access to childcare while they're doing the work of collecting and processing."

This is not new territory for us. Across other commodities in Nigeria, we have built farmer support programmes grounded in real relationships and long-term presence. With shea, we’re simply expanding the model into a new crop, in a country where we are already deeply established.

What we bring to the table

Our goal in this evolving market is to source and trade quality shea, bring the right clients on board, provide the stability of longer-term contracting, and serve as a credible bridge between Nigerian origin supply and international demand.

The combination of our field-level sourcing strength, our processing infrastructure roadmap, government-aligned operations, and genuine sustainability commitment positions us not just as another trader entering shea, but as a long-term participant in building the sector the right way.

Our move into shea is deliberate. And by design, it is built to last.