The cocoa butter market is expected to expand at a mild CAGR of 1.7% during the forecast period. The cocoa butter market was valued at USD 8,890.5 million in 2022. The market is expected to be valued at USD 10,558.9 million in 2033, and as on 2023 the market valuation is USD 8548.6 million.
An increasing demand for better texture of chocolates, coupled with the rising demand for chocolates and many other factors are anticipated to increase the demand for cocoa butter during the forecast period.
| Attributes | Details |
|---|---|
| Cocoa Butter Market Valuation (2022) | USD 8,890.5 million |
| Cocoa Butter Market Projected Size (2033) | USD 10,558.9 million |
| Cocoa Butter Market Anticipated CAGR (2023-2033) | 1.7% |
If one word is to describe cocoa butter, it would be versatility. Apart from eating, there are cocoa butter lotions, body oils, emollients, and natural moisturizers. So, to all the manufacturers who are looking to diversify their markets, here are a list of applications, thus illuminating the cocoa butter benefits.
Moreover, cocoa butter is a great source of Vitamin E, which supports vision, and to maintain sound health of brain and skin. This is expected to surge the sales of cocoa butter during the forecast period.
Apart from that, the availability of wide variety of chocolate flavors is something that has increased the usage of cocoa butter. This is valid, especially in the case of developing countries, where certain types of flavours are new for customers present in these countries. This is expected to increase the demand for cocoa butter during the forecast period.
Apart from that, there is an increasing need for cocoa butter, especially from confectionaries. This is because of an increase in the sales of pastries, and cocoa butter is one of the most important ingredients for making pastries of certain flavours. This is expected to increase the sales of cocoa butter during the forecast period.
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If we compare the historical CAGR with the anticipated CAGR, it would be safe to predict the cocoa butter market would be growing at a better rate during the forecast period. The historical CAGR for the cocoa butter market was 2.9%, and the expected CAGR for the forecast period is 4.1%.
Moreover, if we have a look at the valuation figures as well, it would convey a lot about the market. The valuation in 2018 was USD 5807.6 million. In 2022, the valuation increased to USD 6700 million. In 2033, the expected size of the cocoa butter market is USD 10201.8 million.
Undoubtedly, the increase in the value of the market is there, and more importantly, the growth rate is projected to increase. This is expected to increase the demand for cocoa butter.
Increasing the disposable income of customers
There are certain flavours of chocolates containing cocoa butter which were not accessible to many people. The reason was that they were premium segment chocolates, containing cocoa butter, and were produced using high-quality Belgium chocolates, and many people couldn’t afford them.
Owing to rapid urbanization and many other factors, there has been an increase in disposable income as compared to what it was a decade back. This is expected to increase the sales of cocoa butter during the forecast period.
Anti-inflammatory properties
One of the biggest health benefits of consuming cocoa butter is that it is meant for its anti-inflammatory properties. This is because of the presence of more phytochemicals.
Thus, in certain cases, even health experts recommend the consumption of cocoa butter. This might surge the demand for cocoa butter in the coming times.
Offers facial beauty
Cocoa butter is being increasingly employed by cosmetics manufacturers because of the required moisture and protection from the sun that it offers. Additionally, cocoa butter is also used as a make-up remover and tends to work well for dry lips as well. This is expected to surge the sales of cocoa butter in the future.
Much is required for healthy skin
Cocoa butter has this tendency to be easily absorbed by the skin, that too without making the skin oily. This helps in maintaining the required skin moisture. Additionally, cocoa butter has also given excellent results in treating acne and certain kinds of wounds. This might well increase the demand for cocoa butter.
Consumption of Cocoa Butter linked to Health Issues
Cocoa butter is highly beneficial for our health. But, overconsumption carries its share of side effects. Cocoa butter is a source of caffeine as well. Increased consumption of cocoa butter can cause migraine, fast heart rate, and increased nervousness. This can pose some challenges to the sales of cocoa butter going ahead.
Apart from that, health specialists are also of the view that the consumption of cocoa butter causes improper functioning of the digestive system. Cases related to nausea and intestinal issues have been reported. This is mainly because of the presence of oleic and palmitic acids. This as well might hurt the demand for cocoa butter.
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Because of several health benefits associated with cocoa butter, the medical community has adopted the usage of cocoa butter in many of its treatments. The most important use of cocoa butter is to treat High Cholesterol.
Apart from that, the cocoa seed is used for treating certain serious ailments like asthma, lung congestion, and diarrhoea.
Moreover, based on a study conducted by certain scientists, it was found that dark chocolates made with cocoa butter contain more flavonoids than any other kind of chocolate. The flavonoids are responsible for lowering high blood pressure. These also aid in overcoming age-related memory issues.
Moreover, cocoa butter is also used for treating skin cancer.
All the above factors might surge the sales of cocoa butter during the forecast period.
Palm oil considered to be a better option in many cases
Palm oil is considered to be a much healthier option as compared to cocoa butter. The reason being it contains more Vitamin E and Iron than cocoa butter, which makes it a healthier alternative. Apart from that, the data also suggests that palm oil contains less saturated fatty acids than cocoa butter.
Coconut oil considered a more suitable alternative for cocoa butter in many cases
Because of the presence of suitable quantity of fatty acids, the coconut oil is increasingly used to treat dry skin. It also possesses excellent anti-microbial properties. Moreover, the presence of anti-inflammatory properties makes it one of the most preferred alternatives. Coconut oil is also used for the treatment of acne.
Thus, the adoption of palm oil and coconut oil might present a few threats to the cocoa butter market share.
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The natural cocoa butter has a higher market share than deodorized and semi-deodorized cocoa butter. The reason is that these contain naturally higher anti-oxidants. Apart from that, the odor of natural cocoa butter is extremely similar to that of chocolates.
Since cocoa butter is majorly used in food and beverages, natural coca butter is expected to have more market share as compared to deodorized and semi-deodorized cocoa butter. The deodorized and semi-deodorized cocoa butter is used for personal care products and related applications.
The reason is that the quality of cocoa butter that is obtained via organic method is much better as compared to conventional cocoa butter. Fewer pesticide usage, with being free from GMO, and the ability to support local farming directly are some of the factors why organic cocoa butter is exhibiting rapid growth.
Moreover, the consumers are preferring organic cocoa butter because these are sustainable and are known to decrease Carbon footprints.
The demand for cocoa butter in the form of blocks is expected to grow at a CAGR of 7.6%, and have a massive market share of 89.2% in 2022.
The reason is that cocoa butter is commonly available in the form of blocks. These blocks are known to have a smooth texture and light aroma. Moreover, the way marketers have projected it as a shiny crystal that melts into the mouth is why the blocks have the higher market share.
The major end-use of cocoa butter is in the food and beverage industry, and it is no surprise that it is mainly used for preparing chocolates, cakes, and pastries.
Based on the research conducted by FMI, the usage of cocoa butter in confectionary is expected to grow at a CAGR of 3.9%. This is because of the crystallization behavior of cocoa butter, which makes chocolate-based products appealing. Chocolate is thinned with the usage of cocoa butter.
Based on the research conducted by FMI, it was inferred that Europe might be the largest market for cocoa butter during the forecast period. Europe is home to some of the best chocolate manufacturers who are based in Germany, the United Kingdom, Belgium, France, and Italy.
Furthermore, the Netherlands is home to some of the best cocoa butter manufacturers. This is expected to drive the cocoa butter adoption trends in the region.
The growth is also attributed to the easy availability of high-end chocolate products in this region, which ensures that the customers have to spend less money than other regions.
However, Asia Pacific is set to experience the highest growth rate during the forecast period. Increasing demand for bakery products and high-end chocolates is expected to influence the cocoa butter market outlook in the region.
The United States cocoa butter market has the largest share of 33% as of 2023. An increasing investment made by top players in the region, coupled with increased usage of cocoa butter across sectors, is driving the United States market.
If we talk about the United States, people in this region like consuming chocolate and related products. Moreover, cocoa butter is increasingly used in cosmetics in the United States to make better products.
The German cocoa butter market has a share of 31% as of 2023. Being a hub for top manufacturers and, at the same time producing top-quality chocolates is something that is driving the cocoa butter market key trends and opportunities in Germany.
People have also realized the importance of cocoa butter for maintaining good health. This is expected to drive the market in Germany.
The Japanese cocoa butter market has a share of 7% as of 2023. The Japanese tend to focus a lot on well-being, apart from focusing a lot on food.
The rising importance of cocoa butter in treating High Cholesterol, its anti-inflammatory properties, and its usage to treat skin cancer is expected to increase the usage of cocoa butter in Japan.
The Australian cocoa butter market has a share of 1.1% as of 2023. Based on the data available, cocoa butter is used mainly in this region’s food and beverage industry.
Because of the shiny texture provided by cocoa butter, it is being increasingly employed in confectionary stores, and for preparing high-end chocolates. Additionally, Australia is one of those reasons where people have suffered because of increasing exposure to UV radiation. Therefore, manufacturers make use of cocoa butter in creams to protect against the effects of UV.
The Chinese cocoa butter market has a share of 4.8% as of 2023. Increased urbanization and rise in disposable income are some of the factors that are increasing the usage of cocoa butter in China.
There are a number of local producers of cocoa butter in China. Apart from that, there is an exponentially increased consumption of high-end chocolates in this region, and a lot of high-end chocolates contain cocoa butter. This is expected to boost sales during the forecast period.
The India cocoa butter market has a share of 3.3% as of 2023. Much like China, owing to increased urbanization, increased disposable income, and increased initiatives by the government to encourage foreign players to open their plants in India is something which is driving the market in India.
The availability of different flavours of chocolates which make use of cocoa butter is something which has captured the attention of Indian consumers. This is expected to increase the cocoa butter market in India.
The United Kingdom cocoa butter market has a share of 2.1% as of 2023. Being a part of Europe, which is anticipated to be the dominant region for the cocoa butter market, the market in the United Kingdom is also expected to improve.
Apart from being used in chocolates, cocoa butter is extensively used in the pharmaceutical sector in the region. This comes at a time when cocoa butter has shown proven results in the treatment of lung congestion and memory-related treatment for elderly patients.
There is not much happening in the start-up ecosystem of the cocoa butter market. But going further, the market would certainly revolutionize our lives in some way or the other.
With technology easing how businesses are conducted, this is the best time to start a cocoa butter business. This is because of the perfect balance between health and taste that cocoa butter is known to provide, and with the advent of digital marketing and CTM resources, we can convey the USP in the best possible manner.
Hardly any food ingredients match this balance provided by cocoa butter. If somebody is looking to start a venture in this space, this is certainly the best time.
With an eye towards sustainable development, the major players are making use of sustainable ingredients to ensure that they take the best possible steps, mainly for the lifestyle improvement of farmers.
Some of the recent developments in the cocoa butter market are:
Some of the best players in the Cocoa Butter Market are
Cargill has vast experience serving its target niche for nearly 155 years. They have a unique image of keeping things globally local. To expand this further, they believe in connecting people worldwide but in keeping things local.
They are on a mission to reduce negative environmental impact by creating eco-friendly items that reduce methane emissions. They are also cooperating with farmers to work more on regenerative agriculture. Moreover, they are making use of technology and Artificial Intelligence to keep the animals healthier.
On 1st August’22, Cargill announced a new USD 4.9 million donation to Feeding America to support nationwide hunger relief and access to more protein.
Shirin Asal’s story dates back to 1990. They started their journey by selling sandwich biscuits covered with chocolates. The best thing associated with this brand is that apart from focusing on the taste, they also lay a lot of emphasis on the health of the consumers by making use of healthy ingredients.
Shirin Asal has a portfolio of more than 1000 products to cater to customer needs. To focus on changing needs, Shirin Asal puts a lot of emphasis on new product development. To sum it up, Shrin Asal remains the cornerstone of the confectionary industry in Iran.
On 26th February’22, Dr Younes Jaleh, Chairman of Shirin Asal, was honoured as the holder of the Medal of Honor for export. Mr Mohammed Ali Borhanizad, CEO of Shirin Asal, received the plaque and statue of the event.
SunOpta Inc. specializes in sourcing, processing, and production of organic, natural, and non-GMO plant and fruit-based food products. They employ 1400 employees in three countries to create a brighter, healthier, and sustainable future for food.
On 26th July’22, SunOpta achieved zero waste to landfill in Alexandria Manufacturing Facilities. SunOpta’s Allentown, Penn. The facility attained zero waste in 2022.
By 2033, the market is likely to expand at a 1.7% CAGR.
The market is predicted to attain a valuation of USD 8548.6 million in 2023.
From 2018 to 2022, the market expanded at a 2.9% CAGR.
By 2033, the market is estimated to reach USD 10,558.9 million.
JB Foods Ltd., Jindal Drugs Pvt. Ltd., and Bolmay Cocoa are the prominent market players.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Natural 5.2. Deodorized 5.3. Semi-Deodorized 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Nature 6.1. Organic 6.2. Conventional 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Form 7.1. Blocks 7.2. Powder 7.3. Liquid 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 8.1. Food & Beverage Industry 8.2. Pharmaceuticals 8.3. Personal Care & Cosmetics 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Western Europe 9.4. Eastern Europe 9.5. South Asia and Pacific 9.6. East Asia 9.7. Middle East and Africa 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. Key Countries Market Analysis 18. Market Structure Analysis 19. Competition Analysis 19.1. Cargill Inc. 19.2. Barry Callebaut AG 19.3. Shirin Asal Food Industrial Group PJSC 19.4. Olam International Ltd 19.5. SunOpta Inc. 19.6. Natra SA 19.7. Bolmay Cocoa 19.8. ECOM Agroindustrial Corporation 19.9. JB Foods Ltd. 19.10. Jindal Drugs Pvt. Ltd. 20. Assumptions & Acronyms Used 21. Research Methodology
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Cocoa Butter Market
