Cocoa Butter Market: Current Analysis and Forecast (2021-2027)

Report Description

REQUEST FREE SAMPLE PDF

Growing demand for packaged food, escalating demand for low-fat dairy products, and rising consumption of chocolates are contributing to the growing market for cocoa butter. For instance, the sales of packaged food across the globe were nearly USD 2,339.7 billion in 2015 and gradually increased to USD 2578.9 billion in 2017 and USD 2,644.1 billion in 2019. Moreover, the growing consumption of chocolates is also contributing to the market growth. According to the International Cocoa Organization (ICCO), there has been a deficit in the demand and supply of cocoa globally. In 2018-2019, the deficit accounted for 52 thousand tonnes, while in 2019-2020, it is estimated to go up to 80 thousand tonnes.

The worldwide growth of several industries, including food and beverage, pharmaceuticals, cosmetics, and personal care is propelling the growth of the cocoa butter Market.  Also, a surge in the consumer awareness of cocoa butter’s nutritional and therapeutic benefits, as well as rising demand for chocolate, frozen desserts, and nutritional drinks, are expected to drive market growth.

The Global Cocoa butter market is expected to register a CAGR of around 8% over the period of 2021-2027. This is mainly due to the rising disposable income, improved living standards, and demand for bakery and confectionery products. The emerging number of food and beverage plants and growing demand for processed food and bakery items in the countries are contributing to the growing demand for cocoa butter. As per the United States Department of Agriculture (USDA), food and beverage manufacturing plants accounted for 15.8% of the value of shipments and 14.7% of all employees from all U.S. manufacturing plants in 2019.  The growing demand for processed and packaged food in the region acts as a growth catalyst for the growing demand for Cocoa butter. In addition, the US has a large market for bakeries, confectionery, convenience food, and packaged food products, and hence, it accounts for a major share of the market. For instance, the US bakery industry is a huge business, making up 2.1% of the gross domestic product, according to the American Bakers Association.

Chr. Hansen Holding A/S, Naturex, Cargill, Incorporated, Natra S.A., Barry Callebaut AG, Bolmay Cocoa, SunOpta, Inc., Olam International Ltd, ECOM Agroindustrial Corporation, JB Foods Ltd,  etc., are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst type, the liquid category accounted for the majority share in the market in 2020”

Based on the type, the market is fragmented into natural, deodorized, and semi-deodorized. The natural segment grabbed the major market share in 2020 and dominated the market. Surging awareness about the health benefits of natural and organic products is contributing to the growth of the market. However, the deodorized segment would witness a considerable CAGR during the forthcoming years

REQUEST FOR CUSTOMIZATION

“Amongst form, the liquid segment is expected to witness highest CAGR during the forecast period”

Based on the form, the market is fragmented into blocks, powder, and liquid. The liquid segment grabbed a significant market share in 2020.  The wide application of liquid cocoa in bakery and confectionery, processed food items, etc., is contributing to the growth of the market.  However, the blocks segment would witness a considerable CAGR during the forthcoming years

“Amongst end-user, the food & beverage segment grabbed the major market share in 2020”

Based on the end-user, the market is fragmented into Food and Beverage Industry, Pharmaceuticals, Personal Care and Cosmetics, and Others. The food and beverage segment grabbed the major market share in 2020 and dominated the market. A growing number of home bakers, higher appeal of artisanal bakers, and the launch of new products will up the consumption of cocoa in this industry are contributing to the growing market

“Europe to witness significant growth during the forecast period”

For a better understanding of the market adoption of the Cocoa Butter market, the market is analyzed based on its worldwide presence in the countries such as North America United States, Canada, the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. The Europe region grabbed the major market for the Cocoa Butter Market industry in 2020. However, the Asia Pacific region would witness a considerable CAGR during the forthcoming years.

SPEAK TO ANALYST

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The Global Cocoa butter market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

You can also purchase parts of this report. Do you want to check out a section wise price list?

Get in touch with team

Research Methodology

Research Methodology for the Global Cocoa Butter Market Analysis (2021-2027)

Analyzing the historical market, estimation of the current market, and forecasting the future market of the global Cocoa butter market were the three major steps undertaken to create and analyze the adoption of cocoa butter in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global cocoa butter market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Seek More Details About Research Methodology

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the cocoa butter market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Cocoa butter market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as service and end-use. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the cocoa butter market. Further, we conducted factor analysis using dependent and independent variables such as surging disposable income, surging production of cocoa, etc., A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Cocoa butter market sector across the globe.

REQUEST FOR CUSTOMIZATION

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Cocoa butter market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of cocoa butter market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global Cocoa butter market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

SPEAK TO ANALYST

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Cocoa butter market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type, form, distribution channel, and end-use in the global Cocoa butter market.

The main objective of the Global Cocoa butter Market Study

The current & future market trends of the global Cocoa butter market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the cocoa butter market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of type, form, distribution channel, and end-use
• Define and analysis of the regulatory framework for the cocoa butter market industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the cocoa butter market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the world.
• Company profiles of the cocoa butter market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

You can also purchase parts of this report. Do you want to check out a section wise price list?

Get in touch with team