November 05, 2019
According to the latest study titled ‘Global Cocoa Butter Equivalent (CBE) Market (Volume, Value) - Analysis By Product Type (Shea Butter, Palm Oil Fraction, Kokum Butter, Illipe Butter), End-User (Confectionary, Food and Beverage, Others), By Region, By Country (2019 Edition): Opportunities and Forecast (2014-2024) - By Region (North America, Europe, APAC, ROW), By Country (U.S., Canada, Mexico, United Kingdom, Germany, France, India, China, South Korea, Saudi Arabia, Brazil)’ available with Market Study Report LLC, the global cocoa butter equivalent market is estimated to grow with a CAGR of 8.00 % by the year 2024.
Cocoa butter equivalents are a kind of fat, that behave like cocoa butter in all aspects. Formulated from shea butter, sal fat, or palm oil, these equivalents resemble cocoa butter and are used as prominent substitutes for chocolate making. Increasing consumption and demand of chocolates worldwide will thus drive the growth of cocoa butter equivalent market.
The study examines the market for revenue shares of each segment and offers growth value. It identifies and analyses the emerging trends along with drivers, challenges and growth opportunities influencing cocoa butter equivalent market.
Based on product type, the cocoa butter equivalent market is split into palm oil fraction, shea butter, illipe butter, kokum butter, and others. While based on end-user spectrum, the industry is divided into food and beverages, confectionery and others.
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Considering the geographical landscape, the cocoa butter equivalent market is fragmented into four major regions, namely, Europe, North America, APAC, and rest of the world, with key focus on countries, namely Canada, U.S., Mexico, Germany, United Kingdom, India, France, China, Saudi Arabia, Brazil, and South Korea. Additionally, Europe registered the largest share of global cocoa butter equivalent market in 2018, claims the report. This was due to the existence of branded manufacturers as well as rise in consumption of chocolate in the region.
Some of the vendors that operate in cocoa butter equivalent market are Danisco, AAK, IOI Group, Fuji Oil Holdings Inc, 3F Industries Ltd., Cargill, Manorma Group, and Nisshin Oillio Feldaiffco.
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