Conventionally, cocoa butter was the only vegetable fat used in bakery and confectionery applications among other uses of cocoa butter. Cocoa butter imparts crunchiness at room temperature, sharp melting profile, high gloss, long shelf life and good flavour release among other organoleptic properties. However cocoa butter being a natural raw material has a number of downsides such as its expensive nature and need for tempering before use in any product. Furthermore, its melting profile is more suitable to the cooler climates and the natural nature meaning it is subject to fat blooming and varied product quality depending on the origin of the raw material. Because of these economical and technical factors, efforts are ongoing to develop specialty fats like cocoa butter alternatives to substitute natural cocoa butter.
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Cocoa Butter Alternatives Market Outlook
Cocoa butter being an agricultural commodity, is subject to environmental factors which makes its supply unreliable. At the same time, the demand for its end products is on the rise as consumer awareness increases. There is also a surging interest in the ingredient from the developing regions. These factors are leading to manufacturers exploring the various alternatives to conventional cocoa butter like cocoa butter equivalent and so on in order to keep pace with rising demand for end products.
Asia Pacific is expected to be the key growth driver geographically owing to its burgeoning population coupled with rising income making a range of products affordable.
Cocoa Butter Alternatives Market Regional Highlights
The supportive economic and demographic factors in the Asia Pacific region would bolster the rapid rise of the cocoa butter alternative market in the region over the forecast period from 2020 to 2026. The growing disposable income of the people would render a much larger variety of products affordable. This would lead to a rise in consumption of products containing cocoa butter alternative.
North America held the largest market share globally as of 2019 followed by Europe. The region has a fairly mature market given the high disposable income of the people leading to a higher consumption of end products of cocoa butter alternative. This is a key reason behind the dominance of the region in the global cocoa butter alternative market.
Cocoa Butter Alternatives Market Segmental Overview
Cocoa butter equivalent can be made from palm oil and palm kernel oil while the other types are also derived from plant-based vegetable fats. The use of these alternatives helps to ensure uniform product quality which does not vary according to climate or other factors.
Shea, sal, and palm kernel stearin are some of the commonly used sources for deriving the base material to make cocoa butter alternatives. The use of these cocoa butter alternatives improves the finished product’s fat composition and stability. This ensures consistent products, reduces fat migration in multi-layer products, and counters the softness resulting from nut or milk ingredients.
Cocoa butter alternatives are commonly used in a range of products apart from bakery confectionery items such as moisturizers, creams, and soaps among other personal care items to impart the qualities of cocoa butter to the product without the inherent downsides.
Cocoa Butter Alternatives Market Key Players
The major companies operating in the cocoa butter alternatives market include FELDAIFFCO, Bunge Loders Croklaan, Cargill, Incorporated, FUJI OIL CO., LTD, Makendi WorldWide, Manorama Industries Limited, Mewah Group, Musim Mas Holdings Pte. Ltd, Olam International, The Nisshin OilliO Group, Ltd, and Wilmar International Ltd among others.
The key players in the cocoa butter alternatives market are keeping their ears to the ground so as to not miss out on any upcoming market developments. This would enable them to stay ahead of the curve and obtain a competitive edge in a dynamic market. Product improvements to raise the organoleptic properties of the product is a top strategy being adopted by the manufacturers.
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