The preference for natural and high quality texturizing agents among food & beverage and personal care manufacturers is increasing. Thus, customized cocoa butter to suit consumer preferences and palate is on the rise. In terms of competition, cocoa butter variants are becoming increasingly popular due to increasing health consciousness amongst end users and cost-effectiveness amongst manufacturers. Demand for cocoa butter is expected to soar exponentially and is projected to create an absolute $ opportunity of around US$ 2.5 Bn during forecast period 2019 – 2028.
Increased focus on sharper profit margins by cocoa growers in major producing countries such as Côte d’Ivoire and Ghana, is taking the cocoa, cocoa butter and processed cocoa markets to a more organized level and highlighting the presence of a normalized supply chain and opaque commodity trade. Countries like Indonesia, Vietnam and Malaysia are embracing the considerable growth in cocoa beans processing and have emerged as potential pockets of opportunities in the confectionery sector for the cocoa butter market.
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Cocoa Butter Market: Segmentation
FactMR’s study has done the segmentation of cocoa butter market on the basis of product type, product form, nature, end use and region.
|End Use||Food & Beverage IndustryBakeryFrozen DessertsNutritional DrinksOthersPharmaceuticalsPersonal Care & Cosmetics|
|Region||North AmericaLatin AmericaWestern EuropeEastern EuropeAsia Pacific Excluding Japan (APEJ)JapanMiddle East and Africa (MEA)|
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Key Takeaways of Global Cocoa Butter Market
- Deodorized type cocoa butter accounts for more than half of the market share and is expected to show significant growth during period of forecast, due to increased demand from food and beverages manufacturers.
- Confectionary application of cocoa butter is a major contributor to the global cocoa butter consumption and is projected to grow 1.7X during the forecast period, owing to its increased demand in animal feed industry.
- Cocoa butter market in Europe holds more than half of the market share. Moreover, increasing consumer inclination towards cocoa butter is projected to propel the market at a notable growth rate as compared to other regions.
- Conventional nature of cocoa butter holds more than 90% of market share. However, organic trends are pushing the growth of organic cocoa butter resulting in increasing market share of organic cocoa butter during forecast period.
- According to The National Entrepreneurship Development Company Limited (NEDCO), cocoa market is expected to be pegged at 4.5 MMT, by 2020 which will boost the cocoa butter production in coming years.
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Report benefits & key questions answered
- Post covid consumer spending on Sterile Active Pharmaceutical Ingredient: the report also highlights the change in the buying behavior of consumers and shifts in purchasing power, post covid-19. This information will assist the businesses to plan their production and marketing strategies.
- Cocoa Butter demand outlook: the market intelligence study reports highlights the factor propelling the demand for Cocoa Butter. As per the study, the demand for Cocoa Butter will grow through 2029.
- Cocoa Butter historical volume analysis: Fact.MR survey report provides insights into the sales registered over the last forecast year 2016 to 2020 and create estimates regarding the sales performance for 2019-2029.
- Cocoa Butter consumption by demographics: the report provides consumption by demographics analysis to assist the market players in designing their expansion strategies on the basis of consumption pattern of the customers.
For More Insight- https://www.globenewswire.com/en/news-release/2022/08/12/2497839/0/en/Global-In-Flight-Catering-Market-Is-Projected-To-Reach-USD-13-7-Billion-By-2031-Registering-A-CAGR-Of-6-5-During-The-Forecast-Period-2021-2031-States-Fact-MR.html
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