Azoth Analytics has released a research report titled “Global Cocoa Butter and Equivalents Market (2023 Edition)” which provides a complete analysis of the global cocoa butter and equivalents industry in terms of market segmentation by type (Cocoa Butter, CBE), CBEs type (Shea Butter, Palm Oil, Kokum Butter, Illipe Butter, Others), end-use Industry (Consumer, Industrial), applications (Food and Beverages, Pharmaceuticals, Personal Care, Other Applications), by region and by country.
The research also looks at the growth indicators, restraints, supply and demand risk, and other important statistics, as well as a complete assessment of current and future market trends that are relevant to the evolution of the market.
During the forecast period, 2023-2028, the global Cocoa Butter and Equivalents is expected to expand at a CAGR of 6.56%. As the global population continues to increase, so does the demand for cocoa butter in a variety of chocolate-based products. Rising Chocolate demand across the globe has been driving the market of cocoa butter & CBEs for a very long time. The up-surging trend of increasing use of various types of CBEs such as Palm oil, shea butter, and mango butter instead of cocoa butter has backed the market at a strong growth rate.
The Global Cocoa Butter & Equivalents is expected to generate USD 8.55 billion by the end of 2028, up from USD 5.76 billion in 2021. The growth in global economies, changing lifestyles, rising demands of skin and sun care products due to varying climatic conditions encourages the growth of the market for cosmetics. A shift of preference towards natural and organic beauty products, particularly in U.S. and European countries, fosters the growth of cosmetic products made with cocoa butter.
Also, the demand for cocoa butter equivalents is increasing owing to favourable regulations framework regarding approval of different cocoa butter equivalents and related products that have been impelling the growth of the market. CBE is regulated differently in different regions. For instance, In Europe, CBE is allowed up to 5% in chocolates. Europe is already the largest chocolate consumer in the world and the approval of the 5% rule has made it the largest CBE market in the world.
Moreover, companies are focusing on geographical expansion with targeted acquisitions and joint ventures as their key strategy to augment their market presence. Unceasing innovation has resulted in the development of an efficient and intriguing range of products in several industries like cosmetics, food and beverages etc.
The research is global in nature and covers a detailed analysis of the market in America (U.S., Canada, Brazil, Rest of the Americas), Europe (Germany, U.K, France, Italy, Rest of Europe), Asia-Pacific (China, India, Japan, Rest of Asia-Pacific), and the Middle East and Africa. Additionally, the research report displays data including market size, yearly growth & potential analysis, the competitive study of market players, investment opportunities, demand for future forecast, and so on.
Demand for premium and handmade chocolates, owing to growing consumption in OECD countries as well as urbanization and rising income levels boosting demand in developing markets. Owing to the numerous health benefits associated with cocoa butter, the medical sector has adopted using cocoa butter in many of its treatments as the most important use of cocoa butter is to control high cholesterol. Besides that, cocoa seeds are used for treating certain serious ailments like asthma, lung congestion and diarrhoea. Oftentimes cocoa butter is used in over-the-counter pharmaceutical products and suppositories. The lipid-lowering effects of cocoa butter have been studied and investigated, as fatty acid constituents of cocoa butter are known to exhibit lipid-lowering properties.
This study also provides a competitive landscape and profiles leading players like Cargill, Bolmay Cocoa, Olam International, JB Foods, Barry Callebaut, and others. The company profiling includes critical information such as a business overview, products and services, key financials, and recent events and developments. Overall, the report provides a detailed overview of Global Cocoa Butter & Equivalents, which will assist industry consultants, equipment manufacturers, existing players looking for expansion opportunities, new players looking for opportunities, and other stakeholders in aligning their market-centric strategies with current and expected future trends.
Scope of the Report
- The report analyses the Cocoa Butter & Equivalents Market by Value (USD Million).
- The report presents the analysis of the Cocoa Butter & Equivalents market for the historical period of 2018-2021, the estimated year 2022 and the forecast period of 2023-2028.
- The report analyses the Cocoa Butter & Equivalents Market by Type (Cocoa Butter & Cocoa Butter Equivalents).
- The report analyses the Cocoa Butter & Equivalents Market by CBEs Type (Shea Butter, Palm Oil, Kokum Butter, Illipe Butter, Other CBEs).
- The report analyses the Cocoa Butter & Equivalents Market by End Use Industry (Consumer, Industrial).
- The report analyses the Cocoa Butter & Equivalents Market by Applications (Food & Beverages, Pharmaceuticals, Personal Care, Other Applications).
- The Global Cocoa Butter & Equivalents Market has been analysed by countries (United States, Canada, Brazil, Germany, UK, France, Italy, China, Japan, India).
- The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis. Also, the attractiveness of the market has been presented by region, by type, by CBEs type, end use industry, and by applications.
- Also, the major opportunities, trends, drivers and challenges of the industry have been analysed in the report.
- The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include Cargill, Bolmay Cocoa, Olam International, JB Foods, Barry Callebaut, Natra S.A., AAK AB, Fuji Oil Holdings Inc., Wilmar International Ltd., 3F Industries.
Key Target Audience
- Cocoa Butter Manufactures
- Consulting and Advisory Firms
- Research and Development Organizations
- Government and Regulatory Authorities