Global Cocoa Butter Alternatives Market

High demand for plant-based chocolate is spurred by the rising global popularity of veganism fuels for cocoa butter alternatives market with a healthy CAGR of ~6.91% during the forecast period of 2022 to 2030.

Market Research Future Insights

The cocoa butter alternatives, often known as CB replacements, are largely blends of various vegetable fats used in chocolate. These are substitutions for regular cocoa butter. These substitute fats are known as cocoa butter substitutes (CBA). They may be blended with CB without affecting its physical characteristics. They may be divided into three groups: cocoa butter substitutes, cocoa butter replacers, and cocoa butter equivalents (CBE). The mixture of fats produced from shea, palm, and soybean oils is typically used to create cocoa butter replacements, also known as cocoa replacers, equivalents, and substitutes. After that, these essential components are processed at a plant to produce substitutes for cocoa. The COVID-19 outbreak and subsequent implementation of lockdown measures in several nations limited the pool of workforce that could be used to complete the production process. The lockdowns also had an impact on the transportation sector, which hampered the delivery of vital raw supplies.

According to MRFR analysis, the global Cocoa Butter Alternatives Market insight report is expected to register a CAGR of ~6.91% from 2022 to 2030 and hold a value of over USD 1.57 billion by 2030.

Market Segmentation

The Global Cocoa Butter Alternatives Market has been segmented into Product Type, Source, and Application.

Based on the Product Type, the market has been segmented into Cocoa Butter Equivalents, Cocoa Butter Replacers, and Cocoa Butter Substitutes.

Based on the Source, the market has been segmented into Shea Butter, Sal, Kokum & Mango Kernel, Illipe and Palm Kernel Stearin, and others.

Based on the Application, the market has been segmented into Bakery and Confectionery, Dairy and Frozen Desserts, Beverages, Sweet and Savory Snacks, Dip Sauces and Dressings, and others.

Key Players

Some of the key market players are Nisshin OilliO Group, Ltd, Fuji Oil Holdings, Inc, Cargill, Incorporated, Bunge Ltd, Wilmar International Ltd, AAK AB, 3F Industries Limited, Felda IFFCO Sdn. Bhd, Musim Mas, and The Mewah Group.

Regional Analysis

North America is anticipated to continue to lead the cocoa butter market share. The development of application sectors including food and beverage and personal care is a key factor propelling the market for cocoa butter substitutes in North America. Sales of cocoa butter substitutes are increasing because of the booming demand for chocolate and baked goods since they are less expensive and widely available.

Industry news

UK start-up WNWN Food Labs is launching what it claims to be the ‘world’s first’ cacao-free chocolate. Made from two 'hero ingredients' are barley and carob.

NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

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