Market Research Future (Food and Beverages) Cocoa Butter Alternatives Market Size, Share | Page 4

Cocoa Butter Alternatives Market Research Report - Forecast to 2023
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Regional Analysis:
The global cocoa butter alternatives market is segmented into North America, Europe, Asia Pacific, and Rest of the
world. Among these, North America is projected to retain its dominance throughout the forecast period, owing to
healthy economic growth and increasing consumption of cocoa butter alternatives. The North American region is
estimated to reach USD 555.7 million by 2023. However, Asia Pacific region is the fastest growing region in terms
of consumption of cocoa butter alternatives and is projected to expand at a CAGR of 9.85% during the forecast
period.
Segments
The global cocoa butter alternatives market is segmented into type and source.
On the basis of type, it is segmented into Cocoa Butter Equivalents (CBE), Cocoa Butter Replacers
(CBR), and Cocoa Butter Substitutes (CBS). Among all the types, cocoa butter equivalent segment is
dominating the market, owing to its significant characteristic of being compatible with cocoa butter in
every amount without altering the properties of cocoa butter. This segment is projected to grow at a
CAGR of 9.31% during the forecast period. Additionally, cocoa butter replacer is experiencing a high
growth rate.
On the basis of source, it is segmented into shea, sal, kokum & mango kernel, illipe & palm kernel
stearin, and others. The shea segment is dominating the market due to increasing demand in cosmetics,
healthcare, confectionery, and chocolate industries. This segment is projected to grow at a CAGR of
9.64% during the forecast period. Shea butter and its fractions can easily replace edible vegetable oils
or fats used for different food applications.
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