Demand for cocoa butter market is expected to reach US$ 6.7 Bn in 2021, according to the latest Future Market Insights (FMI) study. The market value has been forecast to total US$ 9.8 Bn by 2031, exhibiting growth at CAGR of 3.8% for 2021-31.
The rising demand for better texture and appearance of chocolates besides their flavor will create a conducive environment for the growth. Some of the leading cocoa butter processors are emphasizing on strengthening their trade relations with countries exporting cocoa beans.
“In terms of key market strategies, industrial manufacturers of cocoa butter are focusing on strengthening their trade relations with major cocoa producing countries. Other manufacturers are focusing on expanding their presence in the Asian regions, especially in regions such as ASEAN through facility and product portfolio expansion”- Principal Analyst, Food and Beverages, Future Market Insights
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Key Push Factors Driving Cocoa Butter Market Sales Growth Globally
- Growing demand for chocolate in dairy, frozen desserts and bakery, is expected to pave lucrative opportunities. Novelty products in the confectionery segment have triggered the demand for cocoa butter. Premium and novel cocoa products are expect to tighten their grip over the food industry in developed regions.
- Given the high competition in cocoa market, demand for high quality texturing agents is expected to flourish, thereby translating into premiumization of cocoa butter, to suit the consumer demands.
- Emerging substitutes including cocoa butter equivalents (CBE) are not likely to replace cocoa butter, owing to its unfulfilling taste and texture compared to the conventional cocoa butter.
Regional Outlook: New Opportunities Spotted in APEJ and Eastern Europe
- Asian nations including Indonesia, Malaysia, India and China are projected to offer lucrative growth opportunities for cocoa butter manufacturers. Falling cocoa butter prices have encouraged confectioners to develop new products due to affordability in Asia Pacific along with Easter Europe. One such key development includes, Cargill Inc expanding its cocoa products portfolio investment in India.
- Countries like Indonesia, Viet Nam and Malaysia are embracing the growth in the processing activities of cocoa beans and have emerged as potential pockets of opportunities in the Asian region for the cocoa butter market.
- In Eastern Europe, the cocoa butter consumption is on the rise in regions such as Turkey and Poland. These countries are expected to register significant growth over the forecast period. The confectionery segment is expected to register 1.9x growth in terms of value over the forecast period.
- In North America, shift toward naturally aromatic ingredients and organic and clean-label products will translate into promising growth of natural cocoa butter—with highest adoption in the frozen desserts segment.
- In Western Europe, Germany accounts for almost 30% market share in the cocoa butter market. On the other hand, Switzerland is expected to remain one of the major consumers of cocoa butter due to its large capacity of chocolate production.
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Key Insights from the Segmentation Analysis of the Cocoa Butter Market
- Deodorized cocoa butter is expected to witness significant demand in the cosmetic and personal care industries.
- In terms of nature of cocoa butter, the clean-label trend will remain a key push factor for organic confectionery products- specifically in developed regions.
- Blocks and powder, in short solid form, is an ideal choice of product form preferred by industrial manufacturers. Ease of transportation and storage, will work in the favor of block form cocoa butter—registering high growth in terms of value and volume. In APEJ, the powder segment is expected to register 2.2x growth in terms of value over the forecast period.
Significant Contributions of the Report
- Key Trends and Challenges: Detailed analysis on the ‘ins and outs’ of the market with qualitative research and quantitative insights
- Recent Drivers and Opportunities: Detailed assessment on the key growth drivers, technological developments, and factors affecting the market over the forecast period.
- Segmental Analysis: Extensive research on each segment and sub-segment, compiled by expert research analysts of FMI
- Regional Market Forecast: Thorough analysis of each regional market to provide market players with real-time data and reliable statistic to gain a competitive edge in the industry
- Competitive Landscape: Comprehensive analysis on prominent players and new entrants eyeing to improve their revenue prospects in the industry
About FMI:
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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