Global Cocoa Butter Consumption Market Size Forecast to Reach $3.1 Billion by 2026
The Global Cocoa Butter Consumption Market size is forecast to reach $3.1 billion by 2026, growing at a CAGR of 5.9% during the forecast period 2021-2026. Cocoa Butter is known as theobroma oil is a pale yellow, edible fat extracted from the cocoa beans and is used to make chocolates. It has a cocoa aroma and flavor. Cocoa butter contains traces of caffeine and theobromine. It consists of various fatty acids such as arachidic acid, myristic acid, lauric acid, and palmitic chocolate. It serves as a major ingredients in making confectionery products and chocolates. Increasing number of vegan consumers and increasing consumer preference for convenience foods is the major factor driving the growth of the market. Increasing awareness regarding the nutritional & therapeutic benefits of cocoa butter and increasing demand for chocolate, nutritional drinks, and frozen desserts is set to further enhance the overall market developments of the Global Cocoa Butter Consumption Market for the period 2021-2026.
Global Cocoa Butter Consumption Market Segment Analysis – By Product
Organic held the largest share in the Global Cocoa Butter Consumption Market in 2020 and is estimated to grow at a CAGR 6.3% during the forecast period 2021-2026. This is attributed to the various health benefits that are associated with the organic cocoa butter. Organic cocoa butter is made by extraction process and conventional cocoa butter is made by pure prime extraction process. It is fully deodorized by a physical process that is mostly used for chocolate production. Cocoa butter helps in treating several health issues that includes skin irritation, and loss of hair among others. It has all sorts of health benefits owing to the presence of flavonoids in it. It helps in reduction of heart diseases and it maintains a healthy blood pressure and also helps in improving the skin conditions. Organic cocoa butter are estimated to register the higher CAGR over the period 2021-2026.
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Global Cocoa Butter Consumption Market Segment Analysis – By Applications
Food & Beverages held the largest share in the Global Cocoa Butter Consumption Market in 2020 and is estimated to grow at a CAGR 6.6% during the forecast period 2021-2026. This is attributed to the fact that cocoa butter is mostly used in the production of confectionary products such as chocolates. It is high antioxidant in nature as it contains a huge amount of polyphenol and flavonoid antioxidants. It improves the heart health. Cocoa butter is used for manufacturing lotions, salves, creams, lip balms, and hair conditioners among others as it reduces the signs of aging that includes wrinkles, hair loss, removes scars, and inflammation of skin among others. Food & Beverages are estimated to register the higher CAGR over the period 2021-2026.
Global Cocoa Butter Consumption Market Segment Analysis – By Geography
Europe dominated the Global Cocoa Butter Consumption Market with a major share of 34.9% in 2020 owing to the increasing demand of cocoa butter in deodorized form for inculcating flavors. Increasing preference of the consumers towards the healthy diet, and increasing applications in the cosmetic industry is also increasing the growth of the market in this region.
However, Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2021-2026 owing to the increasing demand of consumers towards the better texture, flavor, and appearance. Increasing usage of cocoa butter for preventing skin dryness, heals chapped lips, soothes burns, and infections is also increasing the growth of the market in this region.
Global Cocoa Butter Consumption Market Drivers
Increasing Health Consciousness Among Consumers
Increasing health consciousness among consumers is increasing the growth of the Global Cocoa Butter Consumption Market. This is owing to the nutritional benefits of the cocoa butter as it contains a huge amount of fatty acids. Cocoa butter contains vitamin E that benefits the body as vitamin E supports reproduction, vision, and health of the brain, blood, and skin. Fatty acids hydrates the skin and it creates a protective barrier that prevents the skin from drying and holds in moisture. The phytochemicals in cocoa butter protects against the skin damage from harmful UV rays and lowers the risk of the skin diseases. Thus, increasing the growth of the Global Cocoa Butter Consumption Market during the forecast period 2021-2026.
Increasing Prevalence of Cardiovascular Diseases
Increasing prevalence of cardiovascular diseases is increasing the growth of the Global Cocoa Butter Consumption Market. Cocoa as a plant and chocolate as food contains various chemicals that interact with cell and tissue components. It provides protection against the development and amelioration of pathological conditions. Enzymes affected by cocoa consumptions are directly associated with cardiovascular diseases such as cyclooxygenase-2, metalloproteinases, and 5-lipoxygenase. Thus, increasing the growth of the Global Cocoa Butter Consumption Market during the forecast period 2021-2026.
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Global Cocoa Butter Consumption Market Challenges
High Competition and Stringent Regulations
Some of the factors that are set to impede the growth of the Global Cocoa Butter Consumption Market are high competition and stringent regulations. Over intake of cocoa butter leads to obesity, weight gain, allergy and skin reactions is also set to hinder the growth of the market.
Global Cocoa Butter Consumption Market Landscape
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Global Cocoa Butter Consumption Market. In 2020, the Global Cocoa Butter Consumption Market share is consolidated by the top ten players present in the market. The Global Cocoa Butter Consumption Market, top 10 companies are Cargill Incorporated, Jindal Cocoa, Carst & Walker, JB foods Limited, Dietz Cacao Trading B.V., Cocoa Mae, SIDCAO, and Guan Chong Berhad among others.
Key Takeaways
Europe dominated the Global Cocoa Butter Consumption Market in 2020 owing to the increasing usage of cocoa butter in cosmetic industry and increasing shift towards the natural food substitutes. The Global Cocoa Butter Consumption Market scope for different regions will be provided in the final report.
Increasing usage of nutritional supplements and increasing consumer inclination towards healthy diets are likely to aid the market growth of the Global Cocoa Butter Consumption Market report.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be Global Cocoa Butter Consumption Market report.
High competition and stringent regulations is poised to create the hurdles for the Global Cocoa Butter Consumption Market.
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