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Cocoa Butter Market will Gain as Consumption of Chocolate Grows, Creating Absolute Dollar Opportunity of US$ 9.8 Bn through 2031: FMI
Rapidly expanding chocolate industry in emerging economies such as India , Brazil , and China is propelling the demand for cocoa butter as intermediates. Driven by this, the market is expected to exceed US$ 9.8 Bn , surging at a CAGR of 3.8% during the forecast period from 2021 to 2031.
https://www.futuremarketinsights.com/reports/sample/rep-gb-5476
Additionally, increasing demand for premium and handmade chocolate with a tempting glossy appearance, smooth texture, and melting behavior is facilitating the growth in the market. On account of this, sales of cocoa butter are anticipated to rise at 3.6% growth rate between 2020 and 2021.
Cocoa butter is gaining immense popularity across personal care & cosmetics industry owing to its high Vitamin E, phytochemicals, and anti-oxidant content. It is extensively being used for the production of skincare products such as moisturizers, sunscreens, and face creams as it slows skin aging, smoothens wrinkles, and lightens scars.
Hence, increasing demand for the aforementioned products is expected to create lucrative revenue opportunities in the market.
Based on product form, cocoa butter in blocks form is projected to remain the most remunerative segment, accounting for more than 85% of the sales through 2031. Primary factors driving the growth are its smooth texture and light aroma, which is ideal for chocolate making.
says the FMI analyst.
https://www.futuremarketinsights.com/reports/cocoa-butter-market
Leading players in the global cocoa butter market are Cargill Inc., Barry Callebaut AG, Shirin Asal Food Industrial Group PJSC, and Olam International Ltd, SunOpta Inc. These companies are estimated to collectively account for 30% to 50% of the total revenue share in 2021.
Established companies are focusing on expanding their portfolio and global presence to strengthen their market footprints. Some of the player are aiming at investing to increasing their production capacity to increasing their market share. For instance,
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FMI, in its new report, offers an unbiased analysis of the global cocoa butter market, analyzing forecast statistics for the assessment period 2021-2031. The survey reveals growth projections on in cocoa butter market with detailed segmentation:
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