Natural and high-quality texturizing agents are becoming more popular among food, beverage, and personal care industries. As a result, tailored cocoa butter to fit consumer preferences and palates is becoming increasingly popular. Due to increased health consciousness among end users and cost-effectiveness among manufacturers, cocoa butter variations are becoming increasingly popular in terms of competition. During the projection period, demand for cocoa butter is estimated to grow at an exponential rate, generating an absolute dollar potential of roughly US$ 2.5 billion.
Cocoa growers in key producing countries such as Côte d’Ivoire and Ghana are focusing more on higher profit margins, bringing the cocoa butter and processed cocoa markets to a more organised level and underlining the presence of a regulated supply chain and opaque commodity trading.
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.
Tier 1 players in the cocoa butter market have lucrative opportunities in emerging countries.
Tier 1 cocoa butter market heavyweights including Cargill Inc., Shirin Asal Food Industrial Group PJSC, Olam International Ltd, and others have been extending their foothold in emerging markets like India and China.
The duty on cocoa beans has been dramatically cut in nations like India, resulting in more cocoa bean imports and improved processing capacity for cocoa butter, liquor, and powder.
Tier 1 players are seeing significant potential to expand their production facilities in emerging countries as a result of these reasons.
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