Cocoa Butter Alternatives Market Research Report - Global Forecast till 2027

Global Cocoa Butter Alternatives Market Research Report: Information by Product Type (Cocoa Butter Equivalents, Cocoa Butter Replacers and Cocoa Butter Substitutes), Source (Shea Butter, Sal, Kokum & Mango Kernel, Illipe & Palm Kernel Stearin and others), Application (Bakery & Confectionery, Dairy & Frozen Desserts, Beverages, Sweet & Savory Snacks, Dips, Sauces, & Dressings and others) and Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2027

ID: MRFR/F-B & N/4351-HCR | February 2021 | Region: Global | 90 pages         

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Cocoa Butter Alternatives Market Overview


The cocoa butter alternatives market is predicted to grow at a substantial CAGR of 5.1%. Along with that, it is projected that the market value will further reach up to USD 1,560.5 Million in the predicted period 2019-2024. The alternatives of the cocoa butter are basically the mix of fats obtained from vegetables. They are an important substitute for cocoa butter.


Generally, cocoa butters are available in three form called replacers of the cocoa butter, equivalent of the cocoa butter, and substitutes of the cocoa butter.  The use of various cocoa butter alternatives skincare and other products is promoting the growth of the Cocoa Butter Alternatives Market. The development and research for the improvement in taste and quality will also propel the market. Apart from that, the growing demand for cocoa butter alternatives will promote the market in the upcoming years.


COVID-19 Analysis Of Cocoa Butter Alternatives Market


The spread of the COVID-19 disease has affected the production and supply of cocoa beans. As a result, it gave rise to the demand for other alternatives for cocoa butter. But, due to the border lockdowns in several countries throughout the world, the Cocoa Butter Alternatives Market was highly affected. However, the cocoa butter alternatives producers are developing and helping to solve the market crisis.


Market Dynamics


Market Drivers


Important drivers such as the lowering production of cocoa crops in primary regions such as Ivory Coast and Ghana are fuelling the growth of the Cocoa Butter Alternatives Market. It is mainly due to the changing climatic conditions that are leading to the destruction of cocoa crops. As a result, the market for alternative cocoa butter will observe a substantial spike.


Restraints


The major restraint for the Cocoa Butter Alternatives Market is the poor supply chain. Due to this reason, it is estimated that the growth of the market will slow down during the estimated forecast period of 2021-2028.


Opportunities


Cocoa butter is easily available in various regions, and comparatively cheaper. Along with that, the alternatives of various cocoa butter are also obtained from natural resources. Hence, many opportunities are predicted to fuel the growth of the cocoa butter alternatives market.


Challenges


The low awareness about the natural resources for the alternatives of the cocoa market will be a major challenge for the growth of the market. Thus, this factor can hamper the market growth of several cocoa butter alternatives substantially.


Cumulative Analysis


The Compound Annual Growth Rate (CAGR) of the cocoa butter alternatives market is predicted to grow at 5.10%. accordingly, the market growth will further expand up to usd 1,560 million by the predicted period of 2021-2028. various drivers such as the increasing demand for the alternatives for cocoa butter throughout the world and its diverse usage for the production of other items will have a positive impact upon the growth of the market.


Value Chain Analysis


The increasing emphasis on using natural products such as palm stearin and fat obtained from mango seeds will impact the market positively. Also, the growing initiatives by the government for the development and research will improve the value chain of the Cocoa Butter Alternatives Market in the forthcoming years.


Market Segmentations


The segments of the Cocoa Butter Alternatives Market are divided into Product Type, Sources, and Application. On the basis of Application, the market is bifurcated into Beverages, Dressings, Sauces, and Dips, Confectionary and Bakery, Savoury and Sweet Snacks, Frozen and Dairy Desserts, and others.


On the basis of Sources, the Cocoa Butter Alternatives Market is fragmented into Sal, Palm Kernel Stearin & Illipe, Shea Butter, and others


On the basis of Product Type, the Cocoa Butter Alternatives Market is bifurcated into CBR (Cocoa Butter Replacers), CBE (Cocoa Butter Equivalents), and CBS (Cocoa Butter Substitutes).


Regional Analysis


Regionally, Cocoa Butter Alternatives Market is divided into Asia-Pacific, North America, The African region and Middle East, and Europe. North America is anticipated to be leading in the market due to the highest use of the cocoa butter alternatives worldwide chart. The rising trend of cocoa alternatives is one of the major factors for market dominance. Also, the chocolate manufacturers want to adopt alternatives that are less costly and meet the market demand. Furthermore, Asia-Pacific is also predicted to have lucrative growth in the forthcoming years. With the growing confectionery consumption, the market will experience a significant boost. Along with that, the European region is also having considerable growth due to the supportive regulations by the government in countries such as France, Germany, the UK, Italy, etc. Hence, the European region will hold a significant share in the Cocoa Butter Alternatives Market during the estimated period.


Competitive Landscape


The key players play a crucial role in uplifting the market growth. They do mergers, acquisitions, collaboration, new ventures, product launches. These strategies help them to improve their market foothold across the world.


Some of the key cocoa butter alternatives producers boosting the market growth are listed below.



  • Fuji oil Holding Inc. (Japan)

  • 3F Industries Ltd. (India)

  • Manorama Industries Limited (India)

  • Nisshin Oillio Grop Ltd. (Japan

  • Wilmar International Ltd. (Singapore)

  • DowDupont Inc (US)

  • Musim Mas Holdings Pvt. Ltd. (Singapore)

  • Felda IFFCO Sdn. Bhd. (Malaysia)

  • Intercontinental Specialty Fats (Malaysia)

  • AAK AB (Sweden)

  • Mewah International (Singapore)

  • Bunge Limited (US)

  • Cargill Incorporated (US)


Recent Developments


No Recent Development Found.


Report Overview


The overview of the Cocoa Butter Alternatives Market report is listed below.



  • Market Overview

  • COVID-19 Analysis

  • Dynamics of the Market

  • Value Chain Analysis

  • Market Segmentation

  • Regional Analysis

  • Competitive Analysis

  • Recent Development


Report Score and Segmentation



  • Study Period- 2021-2028

  • Base Year-2021

  • Forecast Period- 2021-2028

  • Historical Period-2017-2020


The score of the report is to provide information about the Cocoa Butter Alternatives Market. it also highlights the information about cocoa butter alternatives producers. The information provided in this report is gathered from various primary and secondary sources.


Segmentation


By Source


  • Sal

  • Palm Kernel Stearin & Illipe

  • Shea Butter

  • Others


By Product Type


  • CBR (Cocoa Butter Replacers)

  • CBE (Cocoa Butter Equivalents)

  • CBS (Cocoa Butter Substitutes)


 By Application



  • Beverages

  • Dressings, Sauces, and Dips

  • Confectionery and Bakery

  • Savoury and Sweet Snacks

  • Frozen and Dairy Deserts

  • Others


By Region


  • Europe

  • Asia-Pacific

  • North America

  • The African Region and Middle East


 



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Frequently Asked Questions (FAQ) :

The global cocoa butter alternatives market is expected to reach USD 1.5 billion by 2027.

Global cocoa butter alternatives market is expected to exhibit a strong 5.1% CAGR over the forecast period from 2020 to 2027.

The falling production of cocoa around the world is the major driver for the cocoa butter alternatives market.

North America dominates the global cocoa butter alternatives market.

Leading players in the cocoa butter alternatives market include Fuji Oil Holdings, Cargill Inc., and Musim Mas Holdings, among others.