The cocoa butter market is expected to expand at a mild CAGR of 1.7% during the forecast period. The cocoa butter market was valued at US$ 8,890.5 million in 2022. The market is expected to be valued at US$ 10,558.9 million in 2033, and as on 2023 the market valuation is US$ 8548.6 million.
The increasing demand for chocolates with superior texture and look, in addition to flavour, will create a favourable atmosphere for growth. Some of the world’s largest cocoa butter manufacturers are focusing on improving trade relations with cocoa bean exporting countries.
“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 bakeries, 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 expected to tighten their grip over the food industry in developed regions.
- Given the high competition in the cocoa market, demand for high-quality texturing agents is expected to flourish, thereby translating into the premiumization of cocoa butter, to suit 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 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.
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.
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Cocoa Butter Market by Category
By Product Type:
- Natural
- Deodorized
- Semi-deodorized
By Nature:
- Organic
- Conventional
By Product Form:
- Blocks
- Powder
- Liquid
By End Use:
- Food & Beverage Industry
- Confectionery
- Bakery
- Frozen Desserts
- Nutritional Drinks
- Others
- Pharmaceuticals
- Personal Care & Cosmetics
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- Middle East & Africa
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Frequently Asked Questions
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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