Flourishing Food Processing Industry to Boost Cocoa Butter Market, Asia to Emerge as Profitable Hub
Manufacturers are increasingly focusing on emboldening the origin and provenance of cocoa butter. This is in answer to consumer demand for premium, hand-made and artisanal products.
Consumers are perceiving the technology and process used to manufacture cocoa products with high regard. The acknowledgement and awareness of processes and methods used to manufacture cocoa butter is giving weightage to the value of terminal cocoa products.
Consumer demand for better texture, appearance and flavor has paved the way for new levels of creativity across the globe. Cocoa butter which is responsible for imparting delicate creaminess and makes chocolate products visually appealing is in demand in this industry more than ever before.
Cocoa butter processors are progressively focusing on strengthening trade relations with the countries exporting cocoa beans. As the supply chain of the cocoa butter is extremely fragmented, trade has played a major role in growth of the market.
Cocoa Butter Reigns Supreme, No Threats from Substitutes
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 substitutes.
Despite declining consumer demand for cocoa butter owing to prevalence of health trends, this scenario is unlikely to persist for long and the market is ultimately expected to exhibit growth over the forecast period.
Food regulatory bodies are also opining that products with cocoa butter equivalents are unfit to be called ‘chocolate’, signaling the reign of cocoa butter in the chocolate industry.
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Growing Consumption in Non-chocolate Segments to Bolster Cocoa Butter Demand
Despite the sluggish growth in the chocolate segment, the demand for cocoa butter is on the rise in segments such as dairy, frozen desserts and bakery. Novelty products in the confectionery segment have triggered the demand for cocoa products such as cocoa butter, cocoa liquor and cocoa powder.
Being a by-product, cocoa butter is expected to grow, as a result of increased processing activities of cocoa beans. This trend is dominant in developed regions, where the demand for chocolate is either declining or stagnant and premium and novel cocoa products are tightening their grasp over the food industry.
Owing to high competition and saturation in the market, manufacturers are increasingly following the trend of customization of products to stay ahead in this competitive market. In a bid to offer products which cater to the specific needs of the audience and suit the desired taste and texture profiles, the demand for high quality cocoa butter is on the rise and is expected to fuel the growth of the market.
Markets in Asia to Exhibit Steady Growth, on Back of Burgeoning Confectionery Industry
Asian consumers’ appetite for chocolate coupled with rising net worth incomes is paving the 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.
Also, 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.
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Emerging Countries Present Lucrative Opportunities for Tier 1 Players Operating In Cocoa Butter Market
Tier 1 cocoa butter market players such as Cargill Inc., Shirin Asal Food Industrial Group PJSC., Olam International Ltd etc, have been expanding their footprint in potential markets such as India, and China.
In countries like India, the duty on cocoa beans has been reduced drastically, which has resulted in increased import of cocoa beans and an increase in the processing capacity of cocoa butter, liquor and powder.
These factors are creating notable opportunities for tier 1 players to expand their production facilities in emerging markets.
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Cocoa Butter Market: Segmentation
FactMR’s study has done the segmentation of cocoa butter market on the basis of product type, product form, nature, end use and region.
Cocoa butter market is anticipated to witness a notable upsurge during the forecast period 2019 to 2028, conferring to a new Fact.MR study. The study promotes crucial trends that are presently determining the growth of cocoa butter market.
This newly published and perceptive report sheds light on vital dynamics, which are likely to convert the future of cocoa butter market, in turn generating worthwhile opportunities for key companies as well as evolving players who are interested in the production of cocoa butter.
Cocoa butter market study is a detailed market intellect on key revenue progression factors, challenges, industry trends, and opportunities, which will eventually influence the growth of cocoa butter market.
The report primarily conveys a summary of cocoa butter market, considering present and upcoming cocoa industry scenarios, to reveal striking sides relating to the acceptance of cocoa butter across prominent regional markets.
A detailed assessment on few of cocoa butter producers and suppliers accessible in the report allows the report readers to obtain detailed findings that have resulted from cocoa butter supply chain analysis, business execution, and value chain analysis across the regional markets incorporated in the report.
A list of prominent companies functioning in cocoa butter market provided in the report enhances reliability of this ample research study.
Cocoa Butter Market: Report Summary and Scope
The study offers a comprehensive overview on diverse features that are inducing demand, revenue generation and sales in cocoa butter market across the globe.
A comprehensive estimate on cocoa butter market has also been made accessible by the experts, who have considered the market estimates on the basis of a likely scenario, an optimistic scenario, and a conservative scenario regarding sales of cocoa butter during the forecast period.
Analysis and estimation of price point comparison by region and by product type with the global average price has been included in this study.
Cocoa Butter Market: Analysis on Market Size Evaluation
Predictions of cocoa butter market, encompassing current as well as forthcoming projected values estimate and analysis on region-wise demand trends and price index have been assimilated in the report.
Market estimates at the regional and global scale for cocoa butter are available in terms of “US$ Mn.” A Y-o-Y growth contrast on prominent cocoa butter market segments, along with the market attractiveness valuation computes understandings brought in the report. Metrics mentioned above are also followed based on cocoa butter applications where cocoa butter witness a steady demand.
Cocoa Butter Market: Scrutinized Assessment on Regional Segments
Weighted sections have been elaborated in the report on cocoa butter market, which delivers projection on the regional markets. These chapters brighten the regional macros (political, economic, and business environment outlook), which are expected to have a significant impact on the growth of cocoa butter market during period of forecast.
Country-specific valuation on demand for cocoa butter has been offered for each regional market, along with the market scope estimate and forecast, price index, price point assessment, and impact analysis of dynamics of prominent regions and countries. For all regional markets Y-o-Y growth estimates have also been incorporated in the report.
Cocoa Butter Market: In-depth Analysis on Competitive Landscape
The report ends with a section on the competition scenario of cocoa butter market, along with the profiles of major companies contributing to the market expansion.
Essential and up-to-date data as well as information correlated to the market performers, who principally engage in the production and supply of cocoa butter, has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits the report readers to plan preemptive steps to advance their businesses.
Company profiles have been shared in the report, which exerts essentials such as product portfolio, along with an all-inclusive SWOT analysis on each player recognized along with the company policies identification and analysis.
The company presence mapped and presented through the matrix for all the prominent players of the market functioning in cocoa butter market offers readers with actionable intellect, which helps in thoughtfully presenting the market status, and making decisive predictions on the competition levels in cocoa butter market.
Major companies operating in global cocoa butter market, include Cargill Inc., Barry Callebaut AG, Shirin Asal Food Industrial Group PJSC, Olam International Ltd, SunOpta, Inc., Jindal Drugs Pvt ltd, Natra S.A., ECOM Agroindustrial Corporation, Bolmay Cocoa, JB Foods Ltd. and others.
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