Cocoa Butter Alternatives Market 2021, Growth, Size, Movements by Progression Status, Emerging Demands, Future Prospects, Production Value, and Revenue Expectation to 2030

In a recent published report, Kenneth Research has updated the market report for Cocoa Butter Alternatives Market  for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Cocoa Butter Alternatives Market  products.

Global cocoa butter alternatives market has witnessed repetitive growth over the last few years, and it is estimated to reach USD 1.25 billion with registering a healthy CAGR of 9% during the forecast period of 2017-2023. Lower production of cocoa beans has highly affected their prices, thereby experiencing surge. Further, rise in cocoa butter prices have compelled the manufacturers to incline towards alternatives that are cheaper and more readily available and those that are derived from natural sources. Cocoa butter alternatives majorly comprise of fats that are further segmented into three types including cocoa butter replacer (CBRs), cocoa butter equivalents (CBEs) and as cocoa butter substitutes (CBSs).

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In addition to the lower prices, the fatty acid compositions of cocoa butter alternatives are like that of cocoa butter and, they can be processed in the similar way as that of the later. In conclusion, the similar properties of cocoa butter alternatives create a lucrative market scenario for the manufacturers involved in the production of fats as cocoa butter alternatives.

Declining cocoa butter production has created immense opportunities for the manufacturers to develop potential cocoa butter alternatives and generate revenue through their product offerings. Oils and fats manufacturers are identified to be investing hugely in the R&D sector to develop novel products and introduce their product-line in the global market. Extensive research is carried out on plant-based as well as animal-based oils as alternatives to cocoa butter. For instance, Malaysian researchers studied mango seed fat and palm stearin as cocoa butter alternatives which could be used in chocolates for tropical countries as they can withstand high temperatures.

Regional Analysis:
The global cocoa butter alternatives market is segmented into North America, Europe, Asia Pacific & Rest of the world. North America region is estimated to account for the significant market proportion in the global cocoa butter alternatives market and the trend is expected to continue throughout the forecast period of 2017-2023. North America region is estimated to reach USD 555.7 million by the end of 2023 with registering a CAGR of 9.85% during the forecast period. Asia Pacific region is projected to expand at a high growth of 9.85% during the forecast period. 

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Cocoa butter alternatives market has been segmented on the basis of type which comprises of cocoa butter equivalents (CBE), cocoa butter replacers (CBR), and cocoa butter substitutes (CBS). On the basis of source, the cocoa butter alternatives has segmented into shea, sal, kokum & mango kernel, illipe & palm kernel stearin, and others.

Key Players:
The leading market players in the global cocoa butter alternatives market primarily are Nisshin OilliO Group, Ltd. (Japan), Fuji Oil Holdings, Inc. (Japan), Cargill, Incorporated (U.S.), Bunge Ltd. (U.S.), Wilmar International Ltd. (Singapore), AAK AB (Sweden), Danisco A/S (Denmark), 3F Industries Ltd. (India), and Felda IFFCO Sdn. Bhd. (Malaysia)

Target Audience:
• Food & beverages manufacturers
• Cocoa butter alternatives manufacturers
• Raw material suppliers
• End users (food & beverages industry)
• Retailers and wholesalers
• E-commerce companies
• Traders, importers, and export

Key Findings:
• Among the type, cocoa butter equivalents segment is expected to account for the major market proportion during the forecast period of 2017-2023. However, cocoa butter replacers is projected to expand at a substantial growth rate of 8.54% during the forecast period. 
• Among the sources, shea segment is expected to witness growth rate of 9.64% during the forecast period of 2017-2023. Sal, Kokum & Mango Kernel segment is projected to expand a growth rate of 8.94% during the forecast period. 
Regional and Country Analysis of Cocoa butter alternatives Market Development and Demand Forecast to 2023 Market:
As per the MRFR analysis, the global cocoa butter alternatives market is estimated to reach USD 1.25 billion during forecast period 2017 to 2023 with registering A CAGR of 9.07%

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The reports also cover country-level analysis:
• North America
• Europe
Rest of Europe
• Asia Pacific
Rest of Asia Pacific
• Rest of the world
Latin America
Middle East

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Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

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