With the cocoa price skyrocketing in recent times, the market is desperately looking for a solution – and Muntons Maltichoc Dried Regular is a proving a sustainable alternative without impacting the quality of any product application.
In recent years, we have seen that cocoa bean production is in an overall decline with cocoa prices surging to the highest in 46 years. The cocoa prices have increased due to the poor harvests in West Africa, which produces the bulk of global supply. The El Niño weather phenomenon has been causing drier weather in Ghana and on the Ivory Coast, which are the world's two biggest producers of cocoa beans. Total cocoa production has decreased by 5% from 2020 – 2023 and consequently, the cocoa market faces price increases whilst stocks continue to dwindle.
As we see consumer demand increase at a disproportionate rate, prices are rising in reaction to a tight market for cocoa beans. The chocolate industry, which consumed 43% of all cocoa in 2017, had a retail market value of USD 106.19 billion in 2017 and is expected to grow to USD 189.89 billion by 2026.
We’re proud to embrace change head on but we don’t just welcome new methods and better ways of doing things, we discover them for ourselves too. In the past few years, our focus has been on launching new ingredient ranges which offer a more environmentally friendly alternative for food development. We’ve worked with some of the largest food and drink producers in the world to develop new ingredient solutions that don’t compromise on flavour or colour.
At Muntons, our innovation centres enable us to pro-actively support customer product developments and Maltichoc is the ideal solution to replace typically 25% of cocoa in product formulation. A blend of malted ingredients can emulate the flavour characteristics of cocoa powders and even enhances rich chocolate notes, making it a suitable alternative or partial replacement for cocoa.
Maintaining product quality is essential for our innovations, but equally important is producing a sustainable solution. Cocoa growing is responsible for the majority of chocolate production’s greenhouse gas emissions; 1kg of cocoa emits 23kg of carbon dioxide on average worldwide. When comparing this to Maltichoc Dried Regular which emits just 1.2kg of carbon dioxide per 1kg of product, our solution is not only price stable but also maintains product quality and radically improves the impact on the environment.
Click here to order a sample today and see the benefits for yourself.
