Market Overview
Cocoa Butter Market was valued at USD XX million in 2021. It is forecasted to reach USD XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).
Cocoa butter is mostly derived from cocoa beans that impart a smooth texture to various edible and non-edible products. Cocoa butter is commonly known as the obroma oil derived from cocoa beans. Cocoa butter has cocoa flavor and aroma. It is having pale yellow color and mild chocolate flavor. Cocoa butter contains the most stable fat. It contains antioxidants that discourage rancidity and allow a storage life of two to five years. Cocoa butter is used to make chocolates, ointments, toiletries and pharmaceuticals. It is a rich source of saturated fats and monounsaturated oleic acid and is the major ingredient in all types of chocolates. It is also used in the products like soaps and lotions and medicines.
Market Dynamics: Increasing health consciousness among consumers drives the market growth
Cocoa butter contains a high amount of vitamin E. Vitamin E supports reproduction, vision, brain, blood, and skin health. Fatty acids in cocoa butter hydrate and moisturize the skin. The phytochemicals in cocoa butter protect against skin damage from harmful UV rays and lower the risk of skin diseases. It benefits various health issues like hair loss, skin irritation, aging, liver disease symptoms, and high cholesterol. Cocoa butter helps to enhance the texture and strength of hair by providing moisture. Oleic acid in cocoa butter is heart-healthy monounsaturated fat. Cocoa butter helps to boost good cholesterol in the body, which helps to prevent heart attacks. Cocoa butter has a significant amount of choline, which helps to reduce the risk of liver disease.
Furthermore, increasing demand from the food and beverage industry boosts the cocoa butter market. Cocoa butter is an essential ingredient in chocolate, nutritional drinks, pastry and confectionery. The food and beverages industry has been continuously growing for the last few years and is growing continuously due to the consumer prefers eating outside and diverted towards healthy eating. Consumption of cocoa butter is good for health. The unique composition of cocoa butter gives the desired physical property to the final manufactured product. For instance, couverture chocolate contains extra cocoa butter, which gives it shiny finishing. Those factors drive market growth.
Market Segmentation: Organic cocoa butter segment accounted for the highest share in global cocoa butter market
In 2021, organic cocoa butter had the highest revenue share of over XX percent. Organic cocoa butter is healthier than conventional butter due to its high nutritional value. Cocoa beans are not roasted while preparation of organic cocoa butter, so the flavor of the cocoa butter is intense and vibrant. Increasing consumer demand for cocoa butter resulted in major key players focused on new organic cocoa butter product launches and opening new production plants for organic cocoa butter. For instance, in June 2022, Switzerland’s first 100% organic processing plant, PRONATEC, produced cocoa, mass and butter. PRONATEC Swiss Cocoa Production is an entirely organic production plant and will process around 15,000 tonnes of organic cocoa beans a year, sourced from smallholder cooperatives. Also, in July 2020, Better Butter launched Unique Whipped Blends of Organic cocoa, Shea & Coconut Butters to Enhance & Restore Skin’s Beauty.
Geographical Penetration: Europe is the dominating region during the forecast period
In 2021, Europe dominates the cocoa butter market and will continue the trend over the forecast timeline. Increasing demand for cocoa butter from the food and beverages industry and rising popularity of chocolate among the regional consumer is expected to drive the market growth in this region. Moreover, launching new products and technological advancements will further increase the market. An increase in the consumption of cocoa butter from countries like the UK, Germany, and France drives market growth. The European specialty chocolate market commits to using 100% cocoa butter in their products. Netherland is the home of major key players of cocoa butter like Cargill, Dutch cocoa and Olam. Ivory Coast and Ghana are leading suppliers of cocoa butter in Europe. Netherland is the top exporter of cocoa butter in the year 2020; it exported USD 1.57 billion. UK exported USD 2.48 billion cocoa and cocoa products.
Competitive Landscape:
There are several established participants in the industry and local manufacturers; hence, the market is fragmented. Some major market players are Chr. Hansen Holding A/S, Naturex, Cargill, Incorporated, Natura S.A., Barry Callebaut AG, Bolmay Cocoa, SunOpta, Inc., and Olam International Ltd, among others. Some major key players expand their business by starting new production facilities at the new location. For instance, in June 2020, Cargill expanded its production facility in Belgium to increase its gourmet chocolate production capacity. This acquisition increased the growth of the gourmet segment. Also, in March 2021, Barry Callebaut expanded its cocoa processing capacity in C?te d’Ivoire. In June 2019, AAK launched the chocolate ingredient, cocoa butter. That ingredient is beneficial in the premium chocolate segment. COBAO Pure is a fully deodorized 100 percent cocoa butter compatible with other cocoa butter. In November 2018, American dream launched new Cocoa Butter products, Lavender and Lemon. The new Cocoa butter is hydrating and rich in vitamin E.
COVID-19 Impact: Negative impact on the global cocoa butter market
Covid 19 has a negative impact on the cocoa butter market. The food and beverage industry suffered in the pandemic due to the breakdown of the supply chain, manufacturing units shutdown and technological events cancellation. The shutdown of various plants and factories in leading regions such as North America, Europe, Asia Pacific, South America, and the Middle East & Africa has affected the global supply chain and negatively impacted the manufacturing, delivery schedules, and sales of various goods. The import and export of the raw commodities were closed for a certain time, so the shortage of cocoa beans negatively impacted the manufacturing of chocolates and other products. Cocoa butter is not considered for basic needs, so the manufacturing units of cocoa butter were closed during a pandemic.
The global cocoa butter market report would provide an access to approximately 63 market data tables, 52 figures and 170 pages