NOIDA, India, Oct. 10, 2022 /PRNewswire/ -- According to a new report published by UnivDatos Markets Insights, theCocoa Butter Market was valued at more than USD 2.3 million in 2020 and is expected to grow at a CAGR of around 8% from 2021-2027. The analysis has been segmented into Type (Natural, Deodorized, Semi-Deodorized); Form (Blocks, Powder, Liquid); End-user (Food and Beverage Industry, Pharmaceuticals, Personal Care and Cosmetics, Others); Distribution Channel (Retail Stores, Supermarkets/Hypermarkets, E-Commerce, Others); Region/Country.
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The Cocoa Butter market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Cocoa Butter market. The Cocoa Butter market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Cocoa Butter market at the global and regional levels.
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Market Overview
The surging consumption of chocolates across countries is one of the prominent reasons driving the demand for cocoa butter. The global chocolate consumption was estimated at 8 million tons in 2021 and the global per capita chocolate consumption stands at 0.9 kg per year. Chocolates are made from cocoa beans which are roasted and processed. According to National Confectioners Association, approximately 800 cocoa beans are needed to make one kilogram of chocolate. Each cocoa tree produces about 2,500 beans in a year.
Demand for chocolate is driving deforestation in the Ivory Coast, which produces more than 30% of the world's cocoa, and around 90% of the country's forests have been destroyed since 1960. Chocolate consumption has been scientifically linked to a longer life. A few pieces of chocolate every month may make your life both sweeter and longer, according to the Harvard School of Public Health. A survey of healthy 65-year-old men revealed that those who ate sweets containing chocolate reportedly lived longer. Mortality was lowest among those consuming chocolate 1-3 times a month and higher among those who indulged in the habit 3 or more times a week. Surprisingly, non-consumers had the highest mortality of all. As with most things in life, moderation seems to be paramount.
COVID-19 Impact
COVID-19 first began in China in December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The food and beverages industry are one of the major industries suffering serious disruptions, such as supply chain breaks, technology events cancellations, and office shutdowns, as a result of this pandemic. The shutdown of various plants and factories in leading regions such as North America, Europe, Asia Pacific, South America, and the Middle East & Africa has affected the global supply chain and negatively impacted the manufacturing, delivery schedules, and sales of various goods. Furthermore, various companies have already announced possible delays in product deliveries and slump in future sales of their products.
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https://univdatos.com/report/cocoa-butter-market/
The global Cocoa Butter market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
- Based on end-user, the market is classified into Food and Beverage Industry, Pharmaceuticals, Personal Care and Cosmetics, and Others. The food and beverage segment grabbed the major market share and dominated the market in 2020. The growing number of home bakers, higher appeal of artisanal bakers, and launch of new products will up the consumption of cocoa in this industry contributing to the growing share of this segment.
- Based on distribution channels, the market is categorized into Retail Stores, Supermarkets/Hypermarkets, E-Commerce, and Others. Among these hypermarkets/supermarkets, the segment grabbed the major market share and dominated the market in 2020. However, the e-commerce segment would witness the highest CAGR during the forthcoming years.
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Cocoa Butter Market Geographical Segmentation Includes:
- North America (United States, Canada, and Rest of North America)
- Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia, and the Rest of Asia-Pacific)
- Rest of the World
For a better understanding of the market adoption of the Cocoa butter industry, the market is analyzed based on its worldwide presence in the countries such as North America (US, Canada, Rest of North America); Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe); Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific), and Rest of World. The Europe region dominated the global cocoa butter market in 2020. But, North America is expected to witness the highest CAGR during the forecast period owing to the emerging number of food and beverage plants and growing demand for processed food and bakery items in the countries such as the united states and Canada.
The major players targeting the market include
- Chr. Hansen Holding A/S
- Naturex
- Cargill, Incorporated
- Natra S.A.
- Barry Callebaut AG
- Bolmay Cocoa
- SunOpta Inc.
- Olam International Ltd.
- ECOM Agroindustrial Corporation
- JB Foods Ltd.
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Cocoa Butter Market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
- What are the latest trends, new patterns, and technological advancements in the Cocoa Butter market?
- Which factors are influencing the Cocoa Butter market over the forecast period?
- What are the global challenges, threats, and risks in the Cocoa Butter market?
- Which factors are propelling and restraining the Cocoa Butter market?
- What are the demanding global regions of the Cocoa Butter market?
- What will be the global market size in the upcoming years?
- What are the crucial market acquisition strategies and policies applied by global companies?
We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.
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- Areca Nut Market
Cocoa Butter Market Report Coverage
Report Attribute | Details |
Base year | 2020 |
Forecast period | 2021-2027 |
Growth momentum | Accelerate at a CAGR of over 8% |
Market size 2020 | USD 2.3 billion |
Regional analysis | North America, Europe, APAC, Rest of World |
Major contributing region | Europe to Dominate the Global Cocoa Butter Market |
Key countries covered | United States, Canada, Germany, United Kingdom, Spain, Italy, France, China, Japan, India, and Australia |
Companies profiled | Chr. Hansen Holding A/S, Naturex, Cargill, Incorporated, Natra S.A., Barry Callebaut AG, Bolmay Cocoa, SunOpta, Inc., Olam International Ltd, ECOM Agroindustrial Corporation, JB Foods Ltd. |
Report Scope | Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Demand and Supply Side Analysis; Competitive Landscape; Company Profiling |
Segments Covered | By Type; By Form; By End-Users; By Distribution Channel; By Region/Country |
About UnivDatos Market Insights (UMI)
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
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