What is Cocoa Butter Alternatives Market Scope?
Cocoa butter alternatives are used as replacements for cocoa butter in various applications like food & beverages, cosmetics, pharmaceuticals, etc. The rising price of cocoa butter and consumption of chocolate confectioneries has led manufacturers towards the use of cocoa butter alternatives. Many leading players such as Hershey and Mondelez International uses fat derived from shea butter, palm oil, or other alternative source of cocoa butter. Increasing demand of plant-based food across the globe is expected to create noteworthy growth for vegetable fats and oil as cocoa butter alternatives. However, manufacturers are increasingly focusing on the development of new applications and products in order to meet consumers’ demands.
Influencing Trend:
Product Innovation by Cocoa Butter Alternatives Manufacturers for Development of New Alternative to Meet Consumers' Demand
Market Growth Drivers:
Increasing Demand for Chocolate and Other Confectionery Products Across the Globe and High Growth of vegetable Oils & Fats as Cocoa Butter Alternative Due to Rising Demand for Plant-based Food and Beverages
Challenges:
Availability of Multiple Alternatives of Cocoa Butter and the Presence of a Large Number of Manufacturers in the World
Restraints:
Problems With Taste & Texture and Regulatory Restrictions in Some Countries May Hamper the Growth
Opportunities:
Demand for Cocoa Butter Alternative in Asia Pacific Region and Development of New Applications
The Cocoa Butter Alternatives market study is being classified by Type (Cocoa Butter Equivalents (CBEs), Cocoa Butter Substitutes (CBSs) and Cocoa Butter Replacers (CBRs)), by Application and major geographies with country level break-up.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
AAK (Sweden), Bunge Limited (United States), Wilmar International (Singapore), Fuji Oil (Japan), Olam International (Singapore), Cargill (United States), Mewah Group (Singapore), 3F Industries Ltd (India), Nisshin Oillio Group (Japan), Manorama Group (India), Archer-Daniels-Midland (United States), Louis Dreyfus Company, GrainCorp (Australia), Musim Mas (Singapore), Makendi WorldWide (Turkey), Sime Darby Plantation Berhad (Malaysia) and United Plantations Berhad (Malaysia) are some of the key players profiled in the study.
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Cocoa Butter Alternatives market by Type, Application and Region.
On the basis of geography, the market of Cocoa Butter Alternatives has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Southeast Asia, 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).
In May 2023, AAK launched a cocoa butter substitute, Cebes Choco 15. The product is used to enhance cocoa flavor in confectionery bars, tablets, and baked foods. Cebes Choco 15 supports a long shelf life and avoids bloom in high-cocoa recipes.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Cocoa Butter Alternative Manufacturers, Suppliers & Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and Others
Cocoa Butter Alternatives Market Study: Important Years
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
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 Alternatives 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 Alternatives 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.