Cocoa Shortage Drives Food Giants to Innovate with Substitutes and Enhancers
Global cocoa production has plummeted by 12.9% year-on-year, leaving a significant supply deficit. Food companies, grappling with record cocoa prices due to unfavourable weather in Africa, are turning to innovative substitutes and enhancers to maintain profit margins.
Cargill, the manufacturer behind brands like 'CocoaCraze' and 'Nextcoa', is at the forefront of these developments. Meanwhile, French company Prova offers cocoa enhancers made by directly extracting aromatic compounds, replacing up to 30% of cocoa powder. Ardent Mills, an American firm, has introduced 'Cocoa Replace', a cocoa substitute made from wheat that improves moisture retention.
Nestlé has developed a novel technique using 30% more of the cocoa fruit to produce chocolate, potentially reducing its cocoa bean procurement. Citri-Fi, a new class of additives made from citrus fibre, is also enhancing the quality of cocoa-reduced food products. The cocoa flavour market, currently worth $1.5 billion, is projected to reach $2.3 billion by 2033.
With cocoa prices soaring due to consecutive years of unfavourable weather in Africa, manufacturers are embracing innovative solutions to replace cocoa without compromising taste. DSM-Firmenich's cocoa powder extenders, promising up to 50% reduction without sacrificing flavour, are among the latest offerings. These developments aim to mitigate the impact of high price of gold on the food industry.
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