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MarketResearch.biz delivers in-depth insights on the global Cocoa Butter Alternatives market in its upcoming report titled, “Global Cocoa Butter Alternatives Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2026”. The global cocoa butter alternatives market is estimated to register a CAGR of X.X% in terms of value during forecast period 2017–2026. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2026. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global cocoa butter alternatives market report has been segmented on the basis of product type, source, end-use and region.
This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analysed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.
Cocoa butter alternatives are used as a replacement for cocoa butter in chocolate and are typically a blend of an exotic fat (shea, sal, illipe) and palm mid-fraction (a product of palm oil). The rising price of cocoa butter has increased interest in developing cheaper and readily available alternatives. The demand for chocolates for bakery and confectionery-based applications is rising. According to World Cocoa Foundation, increasing disposable income combined with developing economies in countries, such as India, China, and Brazil, is anticipated to fuel the market demand for chocolates.
Lower production of cocoa beans has highly affected by increasing prices which compelling manufactures to incline towards alternatives derived from natural sources, readily available and more cheaper. Oils & fats manufactures are investing hugely in R&D activities to introduce new products in the global market. Extensive research shows that plant based as well as animal based oils are used as alternatives to cocoa butter.
One of the researcher shows that mango seed fat and palm stearin can be used as cocoa butter alternatives which used in chocolates. Manufactures allowed to add cocoa butter equivalent to chocolate which can holds the maximum amount of 5% since higher content can alter the taste and decrease number of customers. However, in the U.S., products using butter alternatives cannot be labelled as "chocolate".
Geography wise, cocoa butter alternatives market can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa. North American region is expected to dominate the global market through the forecast period. High consumption of cocoa butter alternatives in cosmetics, health products, confectionery and chocolate industry in this region driving the target market. Chocolate typically contains about 20 percent cocoa butter. Thus, confectionery manufacturers are looking to find a substitute for cocoa butter. The alternatives of cocoa butter are highly influenced by rising prices of cocoa butter and government regulation, especially in the European countries. Growth in processing capacity in Turkey, Malaysia, and Russia which will boost the market growth in forecast period. Ghana, Nigeria, and other African countries will become major source for Shea butter. India will control the sal, kokum & mango kernel supply. According to CBI Ministry of Foreign Affairs, in the world, 90% of all shea exported from Africa is used in the food industry.
Global Cocoa Butter Alternatives Market Segmentation:
Segmentation on the basis of Product type:
- Cocoa Butter Equivalents
- Cocoa Butter Replacers
- Cocoa Butter Substitutes
Segmentation on the basis of Source
- Kokum & Mango Kernel
- Illipe & Palm Kernel Stearin
Segmentation on the basis of End-use
- Food & beverage
- Personal care
Segmentation on the basis of Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Nisshin OilliO Group, Ltd.
- Fuji Oil Holdings, Inc.
- Cargill, Incorporated
- Bunge Ltd.
- Wilmar International Ltd.
- AAK AB
- Danisco A/S
- 3F Industries Ltd.
- Felda IFFCO Sdn. Bhd.
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