Cocoa Butter Alternatives Market is Projected to grow at 9.07%
Cocoa butter alternatives are establishing their market position strongly due to the plethora of advantages offered by them. Market reports associated with the food, beverages & nutrition sector made accessible by Market Research Future along with published reports on other sectors have been lately put out along with a report on this industry. The market is likely to attain revenues worth USD 1,255 million by 2023 while growing at a CAGR of 9.07% in the forecast period.
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The major contributing companies in the cocoa butter alternatives market globally are Fuji Oil Holdings, Inc. (Japan), Wilmar International Ltd. (Singapore), Nisshin OilliO Group, Ltd. (Japan), Bunge Ltd. (U.S.), Cargill, Incorporated (U.S.), Danisco A/S (Denmark), 3F Industries Ltd. (India), AAK AB (Sweden), and Felda IFFCO Sdn. Bhd. (Malaysia).
The market for cocoa butter alternatives market globally is segmented since source and type. Based on type, the market segmentation consists of Cocoa Butter Substitutes (CBS), Cocoa Butter Replacers (CBR) and Cocoa Butter Equivalents (CBE). The cocoa butter equivalent segment is leading the market, due to its noteworthy characteristic of being compatible with cocoa butter in almost any ratio without changing the properties of cocoa butter. By source, the market is segmented into sal, shea, illipe & palm kernel stearin, kokum & mango kernel, and others.
The regional analysis of the market for cocoa butter alternatives is segmented into regions such as North America, Europe, Asia Pacific, and Rest of the world. Among these regions, the North American region is expected to maintain its domination through the forecast period, due to strong economic growth and growing consumption of cocoa butter alternatives. The North American region is projected to achieve USD 555.7 million in revenues by 2023. However, the Asia Pacific region is the most quickly rising region in terms of consumption of cocoa butter alternatives and is likely to increase at a CAGR of 9.85% in the forecast period.
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India, August, 2018 Market Research Future Published a Cooked Research Report on Global Cocoa Butter Alternatives Market Research Report.
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