The unprecedented COVID-19 pandemic has affected the global economy to a great extent. Considering the food industry, one of the most important sectors of the economy, a tremendous impact has been witnessed on the entire process from the field to the consumer. The restrictions in the movement of workers, closure of food production facilities, and changes in consumer demand have put excessive pressure on the food industry.
The report offers actionable and valuable market insights of Cocoa Butter. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Cocoa Butter Market across various industries and regions.
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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Cocoa Butter market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Cocoa Butter
This newly published and insightful report sheds light on Market Insights of Cocoa Butter, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Cocoa Butter Market.
The preference for natural and high quality texturizing agents among food & beverage and personal care manufacturers is increasing. Thus, customized cocoa butter to suit consumer preferences and palate is on the rise.
In terms of competition, cocoa butter variants are becoming increasingly popular due to increasing health consciousness amongst end users and cost-effectiveness amongst manufacturers. Demand for cocoa butter is expected to soar exponentially and is projected to create an absolute $ opportunity of around US$ 2.5 Bn during forecast period 2019 – 2028.
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Cocoa Butter Market: Segmentation
FactMR’s study has done the segmentation of cocoa butter market on the basis of product type, product form, nature, end use and region.
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Key Takeaways of Global Cocoa Butter Market
- Deodorized type cocoa butter accounts for more than half of the market share and is expected to show significant growth during period of forecast, due to increased demand from food and beverages manufacturers.
- Confectionary application of cocoa butter is a major contributor to the global cocoa butter consumption and is projected to grow 1.7X during the forecast period, owing to its increased demand in animal feed industry.
- Cocoa butter market in Europe holds more than half of the market share. Moreover, increasing consumer inclination towards cocoa butter is projected to propel the market at a notable growth rate as compared to other regions.
- Conventional nature of cocoa butter holds more than 90% of market share. However, organic trends are pushing the growth of organic cocoa butter resulting in increasing market share of organic cocoa butter during forecast period.
- According to The National Entrepreneurship Development Company Limited (NEDCO), cocoa market is expected to be pegged at 4.5 MMT, by 2020 which will boost the cocoa butter production in coming years.
Market Leaders to Leverage Strength of Strategic Expansions
In recent years, manufacturers and food brands are expanding their production capabilities and entering potential markets to gain more share in the global market. To develop new applications of cocoa butter, companies are investing money in research and development to strengthen their position in new application areas. In addition, legislation in these regions is slightly more relaxed as compared to developed regions such as Western Europe and North America and offer more freedom for the development and launch of new products.
For instance, in January 2018, the company Cargill Inc., which is an agro-ingredients based company expanded its cocoa butter products portfolio investment in India, due to India’s strong market potential in cocoa butter market.
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More Valuable Insights on Cocoa Butter Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Cocoa Butter, Sales and Demand of Cocoa Butter, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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