Cocoa Butter Market

Cocoa Butter Market: Threat of Replacers Mitigated by Premiumization of Chocolate Confections Leveraging Unique Forms of Cocoa Butter: Global Industry Analysis (2013 - 2017) & Opportunity Assessment (2018 - 2028)

  • 2018-11-19
  • REP-GB-5476
  • 222 pages
  • Format: PDF/PPT/Excel

An Incisive, In-depth Analysis on the Cocoa Butter Market

This study offers a comprehensive, 360 degree analysis on the Cocoa Butter market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Cocoa Butter market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.

Cocoa butter is a stable fat that is obtained by pressing cacao beans. Cocoa butter is white in color, soft in texture and has the flavor and aroma of cocoa. Cocoa butter is responsible for imparting the creamy and viscous texture to chocolate products. Cocoa butter is widely used in the confectionery & personal care products as a texture enhancing ingredient. The cocoa butter market is segmented into product type, product form, nature, and end use. On the basis of product type, the cocoa butter market is segmented into natural, deodorized and semi-deodorized. On the basis of product form, the cocoa butter market is segmented blocks, powder and liquid. In terms of volume, the cocoa butter offered in the form of blocks constitute a much larger share than powder and liquid product forms in the cocoa butter market. Emerging substitutes for cocoa butter such as cocoa butter equivalents have been met with mixed reactions from the audience. These substitutes have failed to meet the taste and texture requirements of the chocolate industry and hence, cocoa butter is less likely to face threats from these emerging substitutes.

Hence, despite the declining consumer demand for cocoa butter due to greater health consciousness, this scenario is unlikely to persist for long and the cocoa butter market is ultimately expected to exhibit growth over the forecast period.

These reviews are also supported by the opinions of the food regulatory bodies in different regions who opine that products with cocoa butter equivalents are unfit to be called ‘chocolate’, signaling the reign of cocoa butter in the chocolate industry.

In Asia Pacific region, specifically China and India, and Indonesia and Viet Nam amongst the ASEAN countries have witnessed significant expansion in terms of the production capacities of cocoa butter and exhibited several opportunities for growth in the cocoa butter market. In addition, urbanization and the number of chocolatiers in this region is increasing, which is a factor fueling the demand for cocoa butter. These countries are also populous in terms of the target demographic for cocoa and chocolate-based products, that is, infants and teenagers. Asian consumers’ appetite for chocolate coupled with their rising disposable income paves way for Asia to become the next powerhouse in the cocoa butter market. Countries like Indonesia, Malaysia, India, and China have created new avenues for key market players. Many manufacturers are also expanding processing facilities in these countries, as they are becoming a major network center for expansion in Asia Pacific.

In terms of value, the global cocoa butter market is expected to represent an incremental opportunity of 171.6 Mn by 2018 end over 2017. By product type, semi-deodorized cocoa butter is expected to register a CAGR of 4.4% in terms of revenue in the cocoa butter market. The Middle East & Africa region is expected to register relatively low growth in the cocoa butter market.

Personalized Chocolate Confections Driving Demand for Cocoa Butter

Falling cocoa butter prices have encouraged confectioners to develop new products due to affordability. This trend is especially witnessed in regions like Asia Pacific and Eastern Europe, where chocolatiers are on the rise.

In addition, legislation in these regions are slightly more relaxed as compared to developed regions such as Western Europe and North America and offer more freedom for the development and launch of new products. For instance, in January 2018, the company Cargill Inc., which is an agro-ingredients based company, expanded its cocoa products portfolio investment in India, due to India’s strong market potential in the cocoa butter market.

On the other hand, consumers often associate the origin and authenticity of the raw material of food products with the quality and richness of the product. The originality of the cocoa beans possesses high value in the cocoa butter market and hence the certified processing of cocoa butter plays an important role in an industry driven by authentic and premium products.

Amidst this trend, the main origin countries of cocoa beans such as Côte d’Ivoire and Ghana have exhibited potential for processing of cocoa beans as well. However, due to lack of speed and security in the supply, the growth of this sector is hindered in these regions. As an industry driven by the demand for high-quality cocoa butter, key players from developed regions who dictate the fate of the cocoa butter market have expressed doubts and uncertainty over the processing capabilities in the countries like Côte d’Ivoire and Ghana, and hence the industry growth in these regions is fairly obstructed.

Western Europe Still Leading from the Front in Terms of Cocoa Butter Utilization

On the basis of region, the market in Western Europe is anticipated to dominate the global cocoa butter market in 2018. Eastern Europe is expected to gain significant market share in revenue terms by 2028 end. Moreover, Turkey is projected to exhibit significant CAGR during the forecast period in the cocoa butter market.

Report Description for Cocoa Butter Market

This report provides forecast and analysis of the global cocoa butter market. It provides estimated data of 2018, and forecast data up to 2028 in terms of revenue (US$ Mn). The report also includes key macroeconomic indicators influencing the consumption of various food and beverage products, along with an outlook on cocoa butter for the global market. It includes market growth drivers and challenges for the global cocoa butter market and their impact on each region during the forecast period. The report also comprises the study of current issues with consumers and opportunities for cocoa butter end products. It also includes value chain analysis.

Cocoa butter is a key ingredient used in chocolate confections, which influences the flavour and mouthfeel of chocolate products. Cocoa butter is produced from roasted cocoa beans, by alkalization of cocoa mass, a process which is unique to different producers since the flavour and colour of cocoa butter is typically developed during this step. Cocoa butter can be either natural or deodorized, which aids in the crystallization and smoothness of various chocolate-based products. For applications where an intense cocoa flavour is desired, natural cocoa butter is used. Deodorization of cocoa butter is used to limit the flavour and is typically used in applications where fluidity and mouthfeel are desired but the flavour is secondary.

In order to provide users of this report with a comprehensive view of the cocoa butter market, we have included a detailed competitiveness analysis and cocoa butter market key players and their strategy overview. A dashboard view of the entire landscape provides a detailed comparison of cocoa butter manufacturers on metrics such as total revenue, product offerings, and key differentiators. The study encompasses cocoa butter market attractiveness analysis by product type, product form, nature, end use, and region. The report also covers detailed drivers, restraints, trends and opportunities assessment in the cocoa butter market.

The report includes cocoa butter market company profiles and the revenue generated from the companies across North America, Latin America, Western Europe, and Eastern Europe, Asia Pacific excluding Japan, Japan, and Middle East & Africa. By end use, the global cocoa butter market is segmented into food & beverage industry, pharmaceuticals, and personal care & cosmetics. Furthermore, the food & beverage industry segment is further sub-segmented as confectionery, bakery, frozen desserts, nutritional drinks, and others. Furthermore, on the basis of nature, the global cocoa butter market is segmented into organic and conventional. On the basis of product type, the global cocoa butter market is segmented into natural, deodorized, and semi-deodorized. On the basis of product form, the cocoa butter market is segmented into blocks, powder, and liquid. For the calculation of market size, consumption of chocolate products where cocoa butter is inherently used was taken into consideration. The average utilization of cocoa butter across different chocolate confections, fillings and toppings for baked goods, beverages, and other end use applications were analyzed. This was cross-validated with the market share of key players offering cocoa butter products. Prices of the product have been collected at the manufacturer level to arrive at the market size for cocoa butter.

The report provides detailed competitive and company profiles of key participants operating in the global Cocoa Butter market. Some of the major companies operating in the global Cocoa Butter market are Cargill Inc., Barry Callebaut AG, Shirin Asal Food Industrial Group PJSC, Olam International Ltd, SunOpta Inc., Jindal Drugs Pvt Ltd., Natra S.A., Bolmay Cocoa, ECOM Agroindustrial Corporation and JB Foods Ltd.

Global Cocoa Butter Market – By Product Type

  • Natural

  • Deodorized

  • Semi-deodorized

 Global Cocoa Butter Market – By Product Form

  • Blocks

  • Powder

  • Liquid

Global Cocoa Butter Market – By Nature

  • Organic

  • Conventional

 Global Cocoa Butter Market – By End Use

  • Food & Beverage Industry

    • Confectionery

    • Bakery

    • Frozen Desserts

    • Nutritional Drinks

    • Others

  • Pharmaceuticals

  • Personal Care & Cosmetics

Global Cocoa Butter Market – By Region

  • North America

  • Latin America

  • Western Europe

  • Eastern Europe

  • Asia Pacific excluding Japan

  • Japan

  • Middle East & Africa

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