The Cocoa Conundrum: cocoa prices are sky high but brands around the world are responding to the challenge

Cocoa prices have surged dramatically over the past year and show no signs of declining anytime soon. This creates a significant challenge for manufacturers as they strive to meet consumer demand for affordable yet indulgent treats. With many consumers turning to chocolatey comfort foods amidst economic pressures, there is a tension between rising production costs and consumer expectations. Shrinking pack sizes and higher retail prices are already noticeable trends, but manufacturers must explore other avenues to mitigate costs without alienating customers.

Reformulating products by reducing cocoa content or incorporating alternatives like carob is emerging as a viable solution. However, the shift toward lower cocoa or even cocoa-free products comes with hurdles. Taste remains paramount, and any changes must preserve the chocolate experience consumers love! Additionally, reducing cocoa impacts more than flavour—it also affects texture, colour, and overall sensory appeal. 

Download our free report below for more intel on how brands are responding to the cocoa crisis.

50% of consumers have switched to own-brand chocolate because of rising prices.

Mintel Consumer Data, UK, 2024

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