A new report by XploreMR studies the growth drivers, trends, restraints, and highlights of the cocoa butter. Presenting exclusive insights into the market from 2019 to 2029, the report projects that the market will witness significant growth during the forecast period. Cocoa beans contain high amounts of vegetable fat, which is extracted post the fermentation and roasting process. The extracted fat is termed cocoa butter, and is used in applications such as the production of chocolates, ointments, toiletries, and pharmaceuticals, among others. Moreover, the cocoa butter aids in the treatments for skin irritation and hair loss, thereby gaining traction in the personal care & cosmetics industry. The growth of the market is primarily attributed to high usage in bakery and confectionery food products owing to its flavor and aroma.
Demand for Authentic and Affordable Raw Materials Pave Way for Adoption in Confectionary Industry
The affordability of cocoa butter has enabled players in the confectionery market to produce new food products backed by growing demand for chocolates in the Asia Pacific and Eastern Europe. Government initiatives have also favored the confectioneries in launching new food products, thus opening a doorway for the cocoa butter market. The market is also aided by an enormous demand for chocolate among consumers, who seek high taste and quality of the product. On this premise, the authenticity of cocoa butter has played a crucial role in propelling the adoption. Furthermore, countries such as Côte d'Ivoire and Ghana, which are the leading producers of cocoa beans have increased the processing of cocoa beans. Owing to the healthy nutritional composition of cocoa butter is bolstering adoption in pharmaceuticals and personal care industry. Cocoa butter contains flavonoids that reduce the incidence of heart disease, maintains healthy blood pressure, and also helps in reducing skin disorders.
Increasing Number of Chocolateries and Demand for Chocolates Metamorphose Asia Pacific into a Prominent Regional Market
Europe leads the regional landscape of cocoa butter owing to high consumption in Western Europe coupled with favorable government initiatives. On the other hand, the Asia Pacific region is forecasted to exhibit tremendous growth owing to expanding production capacities coupled with increasing demand for chocolate-based products. The region is also aided by a burgeoning number of chocolatiers, and the high population of teenagers, who predominantly drive demand for chocolates. Furthermore, factors such as rising disposable incomes and fondness for chocolates among Asian consumers are translating into revenue opportunities for the cocoa butter market. The emergence of market players in recent years in countries such as China, India, Indonesia, and Malaysia is also impelling market revenue.