Cocoa Butter Market Set to Reach USD 10.6 Billion by 2033, Driven by Growing Demand for Superior Chocolate Texture and Flavors

Cocoa Butter Market
Cocoa Butter Market

In 2023, the cocoa butter market is to be valued at US$ 8,890.5 million. This number is expected to reach US$ 10,558.9 million by 2033, with a CAGR of 1.7%.

Cocoa butter is a great source of Vitamin E, which supports vision and maintains brain and skin quality. These nutritional benefits positively help the sales of cocoa butter during the forecast period. Apart from that, the availability of a wide variety of chocolate flavors is something that has increased the usage of cocoa butter. This is valid, especially in the case of developing countries, where certain types of flavors are new for customers present in these countries. This is expected to increase the demand for cocoa butter during the forecast period.

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There is also an increasing need for cocoa butter, especially from bakeries and confectionaries. This is because of an increase in the sales of pastries, and cocoa butter is one of the most important ingredients for making pastries of certain flavors. This is expected to increase the sales of cocoa butter during the forecast period. A study conducted by certain scientists found that dark chocolates made with cocoa butter contain more flavonoids than any other kind of chocolate. The flavonoids are responsible for lowering high blood pressure. These also aid in overcoming age-related memory issues.

According to the research conducted by FMI, it was inferred that Europe might be the largest market for cocoa butter during the forecast period. Europe is home to some of the best chocolate manufacturers who are based in Germany, the United Kingdom, Belgium, France, and Italy.

Key Takeaways:

  • According to FMI, the United States market is expanding at a CAGR of 33.0% due to the increasing demand for confectionary in 2022.
  • The German market is anticipated to be growing at a CAGR of 31.0% in the year 2022
  • The Japanese market is showing promise of growing to a CAGR of 7.0% in the same year.
  • FMI observed that the market of Australia grew at a CAGR of 1.1% in 2022
  • The Chinese market expanded at a CAGR of 4.8% in 2022 due to consumer awareness of sustainable products.
  • India showed a CAGR of 3.3% in 2022 as the effect of the combined causes of sustainability and a growing consumer preference for protein-rich items.
  • The United Kingdom market inflated at a CAGR of 2.1% in 2022, based on research done by FMI. This lower CAGR is due to price and availability fluctuations.

Competitive Landscape:

Keeping an eye out towards sustainable development, the key players of the market are making use of sustainable ingredients to ensure that they take the best possible steps, mainly for the improvement of the lifestyle of farmers.

Recent Developments:

  • In August 2022, Olam Agri appointed Ashish Pande as country head in Nigeria.
  • In May 2022, Barry Callebaut opened a new Chocolate Academy Center in Casablanca, Morocco.

Leading Competitors:

  • Cargill Inc.

Cargill Inc. offers a diverse range of origins and plant locations that can customize the product and supply chain to specific consumer requirements all around the world. They offer plenty of choices to maintain the texture and flavor of their chocolate in several varieties, such as

Full-flavor butter: their flavor of cocoa butter adds extra flavor to the consumers’ chocolate and enhances the overall taste experience.

Partly deodorized: they also offer a number of cocoa butter options with different degrees of deodorization.

White cocoa butter: they also offer white cocoa butter, which is used to improve the appearance of white chocolate, delivering the best white chocolate experience available.

Key Players in the Cocoa Butter Market

  • Cargill Inc.
  • Barry Callebaut AG
  • Shirin Asal Food Industrial Group PJSC
  • Olam International Ltd
  • SunOpta Inc.
  • Natra SA
  • Bolmay Cocoa
  • ECOM Agroindustrial Corporation
  • JB Foods Ltd.
  • Jindal Drugs Pvt. Ltd.
  • Others

Secure Your Copy Now: Gain full access to the Cocoa Butter Industry report, including Market Forecast, Company Share Analysis, Competitive Intelligence, DROT Analysis, Market Dynamics, Challenges, and Strategic Growth Initiatives.

 

Key Segment in Cocoa Butter Market

By Product Type:

  • Natural
  • Deodorized
  • Semi-Deodorized

By Nature:

  • Organic
  • Conventional

By Product Form:

  • Blocks
  • Powder
  • Liquid

By End Use:

  • Food & Beverage Industry
  • Pharmaceuticals
  • Personal Care & Cosmetics

By Region:

  • North America
  • Latin America
  • Asia Pacific
  • MEA
  • Europe

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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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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