What is Cocoa Butter Equivalent Market Scope?
Cocoa Butter Equivalent is a replacement for cocoa butter. They have similar features to cocoa butter and are typically a blend of an exotic fat (shea, sal, illipe, etc) and palm mid-fraction (a product of palm oil). It is an important part of cocoa butter which is used to prepare chocolate formation. These are mostly used in the chocolate factories as it has a very high status due to its unique property of remaining moldable, hard and brittle at normal or room temperature. These cocoa butter equivalent have a tendency of melting when comes in mouth temperature. Increasing different products made from cocoa is driving the market for cocoa butter equivalent.
Influencing Trend:
Adopting Cocoa Butter Equivalent in Terms of Processed Cocoa Beans and Growing Popularity of Dark Chocolate
Market Growth Drivers:
Increasing Number of Cocoa & Chocolate Applications and Increasing Demand for Cocoa & Chocolate in Food & Beverage Industries
Challenges:
Issue Related To Taste and Texture Required for Chocolate Industry and Rising Challenges for Growing Better Quality Cocoa Crop
Restraints:
Availability of Different Substitutes Present in Market Such as Cocoa Replacer, Substitutes
Opportunities:
Growing Legislation towards Chocolate in Developing Countries and Rising Demand of Consumer Preferences for Products Containing CBEs
The Cocoa Butter Equivalent market study is being classified by Type (Shea Butter, Palm and Palm Kernel Oil, Sal Fat, Kokum Butter and Mango Butter), by Application and major geographies with country level break-up.
According to AMA, the Global Cocoa Butter Equivalent market is expected to see growth rate of 3.1% and may see market size of USD1700.0 Million by 2027.The companies are exploring the market in new regions by adopting mergers & acquisitions, expansions, investments, new solution launches, and collaborations as their strategies. Key players are exploring new areas through expansions and acquisitions across the world to avail a competitive advantage through combined synergies. Analysts at AMA predicts that Vendors from Japan will contribute to the maximum growth of Global Cocoa Butter Equivalent market throughout the predicted period.
AAK (Sweden), Bunge Loders Croklaan (Netherlands), Wilmar International (Singapore), Fuji Oil (Japan), Olam International (Singapore), Cargill (United States), Mewah Group (Singapore), 3F Industries Ltd (India), Nisshin Oillio Group (Japan) and Manorama Group (India) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Felda Iffco (Malaysia), Musim Mas (Singapore) and Intercontinental Specialty Fats (ISF) (Malaysia).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Cocoa Butter Equivalent market by Type, Application and Region.
On the basis of geography, the market of Cocoa Butter Equivalent has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Influencers and their Development Strategies
In Dec 2020, BLC announced the launch of shea-based premium cocoa butter equivalent. It is a nutritionally balanced ingredient. Through this initiative, the company aims to become more competitive in this industry.
In January 2018, the company Cargill Inc., which is an agro-ingredients based company, expanded it's cocoa products range investment in India, due to India’s strong market potential in the cocoa butter market.
Key Target Audience
Cocoa Butter Equivalent Manufacture, Cocoa Butter Equivalent Distributors, Potential Investors, Government Bodies and Associations, Up and Down Stream Vendors, Private Research Organizations, Suppliers and Distributors and Others
Cocoa Butter Equivalent Market Study: Important Years
Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Major Highlights of Market Study
Demand Determinants: Identifying top-notch application and business segments that seek high growth potentials in Cocoa Butter Equivalent Market.
Key Strategic Developments: To target untapped regions more aggressively by focusing on product/service developments, innovation and R & D, new launches, Merger & acquisitions, JVs & partnerships.
Forces & Market Dynamics: Growth drivers, restraints & opportunities available in Cocoa Butter Equivalent industry is examined with reference relevant market sectors and sub-sectors.
Customization available in this Study:
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also includes significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets, To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.