London, Oct. 18, 2022 (GLOBE NEWSWIRE) -- Exhibiting an estimated CAGR of 5.1% between 2021 and 2025, global cocoa butter market will most likely reach the valuation of over US$7.5 Bn by the end of forecast period. While cocoa butter has been extensively used across the food and beverages industry, especially in chocolate making, a widening application base across the cosmetics and personal care industry is expected to provide the market with the next leg of growth. A new report published by Fairfield Market Research suggests that as the boom around organic products grows denser in cosmetics and beauty industry, cocoa butter manufacturing brands are expected to discover lucrative revenue generation opportunities. The excellent aroma, creamy smooth texture, and solid nutrition profile of cocoa butter will predominantly drive demand across the various edible and non-edible product categories, says the report.
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Key Research Insights
- Global cocoa butter market revenue crossed the US$6.1 Bn mark in 2021
- Sales of cocoa butter blocks accounted for more than US$2.6 Bn in 2019 and will continue to surge ahead
- Europe remains the top consumer region with more than 45% market share
Insights into Segmental Analysis
The antioxidants-enriched, wholesome nature of cocoa butter had been underpinning its uptake in processed food sector, and chocolate and confectionary segments. Opportunities will reportedly flock cosmetics industry as cocoa butter makes strong headways into the skincare segment. Cocoa butter has been a desirable texturizing and nourishing agent and has been witnessing heightening demand for some of the top selling skincare products like body butter, lotion, and lip sparkles. With the innovative skincare ranges debuting the beauty industry frequently, cocoa butter market is expected to thrive on growing opportunities in future. Mounting consumer demand for organic and natural products further uphold the position of cocoa butter in global market. While food remains the key application area with more than 50% revenue share in the global market, cosmetics represent a highly lucrative category according to the report.
Key Report Highlights
- The natural and organic trend thriving worldwide will largely boost cocoa butter sales
- Conventional cocoa butter remains dominant despite soaring popularity of its organic counterpart
- Global cocoa butter production is largely concentrated in West Africa
Insights into Regional Analysis
In terms of production of cocoa butter, West Africa, Southeast Asia, and South America have been the world’s largest producers and a few of the topmost producing countries include Ivory Coast, Ghana, Indonesia, and India. However, West Africa continues to be the production hub with around 70% share in global cocoa butter production. In terms of consumption, Europe, exceeding the US$2 Bn mark in 2019 revenue, will continue to be the prime market for cocoa butter producers from across the globe. The region is likely to maintain over 45% share in Asia Pacific is reportedly emerging as a highly lucrative revenue generation pocket on the back of rocketing bakery sales. Many of the key processors across the region have been emphasizing opening and expansion of their production facilities which may soon lead to a price drop. Cocoa butter sales are thus more likely to pick up in Asia Pacific.
Key Companies in Global Cocoa Butter Market
Cargill Inc., Barry Callebaut AG, Natra S.A., Shirin Asal Food Industrial Group PJSC, JB Foods Ltd, United Cocoa Processor, Inc, Bolmay Cocoa, Olam International Ltd, SunOpta, Inc., ECOM Agroindustrial Corporation
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REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2020 | |
| Forecast Year | 2021 – 2025 | |
| Market Size in 2021 | US$6.1 Bn | |
| Estimated Market Size in 2025 | US$7.5 Bn | |
| CAGR | 5.1 % | |
| Key Players | SunOpta, Inc., Shirin Asal Food Industrial Group PJSC, Bolmay Cocoa, United Cocoa Processor, Inc, Cargill Inc., Barry Callebaut AG, Olam International Ltd, JB Foods Ltd, Natra S.A., and ECOM Agroindustrial Corporation | |
Market Segmentation
Form Coverage
- Blocks
- Liquid
- Powder
Product Type Coverage
- Fully Deodorized
- Natural
- Semi Deodorized
By Nature Coverage
- Organic
- Conventional
Application Coverage
- Food
- Bakery
- Confectionery
- Frozen Dessert
- Pet Food
- Beverages
- Pharmaceutical
- Cosmetics
Geographical Coverage
- North America
- Europe
- Latin America
- Middle East & Africa
Leading Companies
- Olam International Ltd
- Barry Callebaut
- Cargill Incorporated
- Archer-Daniels-Midland Company
- SunOpta Inc
- NATRA
- Guan Chong Berhad Group
- JBCOCOA Sdn. Bhd
- Moner Cocoa, S.A.
- United Cocoa Processor, Inc
Report Inclusions
- Market Estimates and Forecast
- Market Dynamics
- Industry Trends
- Competition Landscape
- Technology-wise Analysis
- Application-wise Analysis
- Region-wise Analysis
- Country-wise Analysis
- Key Trends Analysis
- COVID-19 Impact Analysis
About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
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