Now, the chocolate industry faces a singular, unprecedented crisis. A result of two consecutive years of dismal West African harvests, cocoa prices have more than doubled since July of last year. This dramatic increase in expenses has forced producers to change their formulations and rethink what chocolate even is. Consumers are feeling the pinch of very high prices. In turn, iconic brands such as McVitie’s and Cadbury are reformulating their product ranges to ride out the storm while innovating toward future opportunity.
McVitie’s Jaffa Cakes were once the nation’s favorite biscuit. Today, they’re made with just 19% dark chocolate – so little that they no longer even count as “chocolate” according to UK law, due to such a small cocoa content. McVitie’s Penguin and Club bars have their coatings labelled as “chocolate flavour.” This action clearly separates them from what most consumers would traditionally consider to be chocolate.
Chocolate prices have surged about 15.4% over the past year through August. This dramatic increase has had a cascading impact on the rest of the confectionery industry. Mark Golder, a producer representative from a chocolate manufacturing company, announced companies that are utilizing chocolate right now are in an emergency. He testified that prices have jumped over four times in the past three years, a factor that can make or break the future of many small businesses.
Cadbury Dairy Milk is still Britain’s number one chocolate bar, for the record – the 95g bar has 20% cocoa solids. With these prices exploding, consumers are looking to other options. At £1.85 this Aldi Dairyfine 55% cocoa dark chocolate bar is an excellent quality-value combination. In particular, its affordability has made it a darling among chocoholics.
As brands feel their way through these developmental and economic shifts, many are looking for creative new ways to jack their products up with chocolatey flavor. Prof. Tim Spector, lead researcher, said these new cocoa-free and lab-grown types represented “exciting new potential.” That’s why he believes innovations in food can help create climate positive food products. He commented that chocolate substitutes produced without cocoa—including these lab-grown versions—are indicative of a thrilling new era in food innovation. This sustainable transition is meant to be more eco-friendly.
At the same time, many health advocates have expressed concerns about the health impacts of these new innovations. However exciting these innovations are, they don’t necessarily translate into healthier products, Prof. Spector cautioned. He touched on some of the benefits of cacao that’s been minimally processed. Not only is it delicious, but it’s loaded with bioactive compounds – particularly flavanols, which promote healthy gut and heart function.
If you’re looking for great dark chocolate in these crazy days, fear not—you still have choices! The Green & Black’s Organic 85% dark chocolate bar has one of the highest amounts of cocoa—85%! By contrast, Wagon Wheels have a chocolate-flavoured coating that uses just 24% chocolate.
Mark Golder, who worked with Dobson on the project, said there is a growing consumer demand for premium chocolate substitutes. There’s been all this talk and it’s been an explosion in interest over the last 18 months. We’re now getting inbound inquiries all the time from customers all over Europe and even beyond,” he added.
As the industry shifts to accommodate new market realities, producers are experimenting with new formulations and ingredient origins. Aldi Dairyfine dark chocolate bar Aldi knows that high quality at a low price is important – but especially important in a competitive market. Tony’s Chocolonely milk chocolate bar contains 32% cocoa solids. It appeals to consumers who expect ethical sourcing and high quality flavor.