为了应对这一挑战，Analysts say that if the method of obtaining cocoa does not change, there will be no chocolate in twenty years. With cell-cultivated cocoa, this Industry will no longer need to rely on nature. Chocolate and Confectioners companies are beginning to invest in companies that develop "lab cocoa." Earlier this month, the maker of Oreo participated in a seed round financing of 4.5 million dollars for the startup Celleste Bio, which focuses on cell-cultivated cocoa.
With the soaring prices of cocoa beans and increasing sustainability pressures, chocolate and confectionery companies have to start looking for "substitutes" for cocoa to alleviate cost pressures.
Since the beginning of this year, cocoa prices have increased by nearly 200%. Due to the dual impact of crop diseases and adverse weather conditions in West Africa, the location of the world's largest cocoa farms, production has declined, triggering a global supply tightening, as this region produces more than two-thirds of the world's cocoa. Concerns about supply have sharply pushed up New York cocoa Futures prices, which last week approached $13,000 per ton. It is currently quoted at $11,852.
To meet this challenge, chocolate and confectionery companies have started investing in firms developing "lab-grown cocoa." Earlier this month, Oreo maker Mondelez International participated in a $4.5 million seed round financing for cell-cultivated cocoa startup Celleste Bio. Meanwhile, the United Kingdom food ingredients company Tate & Lyle also announced a partnership with BioHarvest Sciences to develop synthetic plant-derived sweeteners.
The CEO of Celleste Bio, Michal Beressi Golomb, stated:
"If we do not change the way we source cocoa, we will have no chocolate in twenty years. With cell-cultivated cocoa, this industry will no longer need to rely on nature."
In addition to looking for alternative raw materials, some companies are also exploring how to make desserts using more readily available ingredients. Finnish candy maker Fazer launched a cocoa-free "chocolate" made from malted rye and coconut oil last year and has partnered with the Finnish state research center VTT to cultivate cell-based cocoa pods.
Additionally, the world's largest agricultural trader, Cargill, collaborated with the startup Voyage Foods last year, which produces sustainable foods like chocolate and nut butters made without traditional ingredients such as cocoa, peanuts, and hazelnuts.
However, currently, the methods of growing raw materials in laboratories are not cheap. Golomb stated that Celleste Bio aims to enter the market in 2027 and expand production scale to achieve product prices equivalent to cocoa prices before 2024, specifically about $7,000 per ton of cocoa butter and $3,000 per ton of cocoa powder.
It is noteworthy that, in addition to cost issues, chocolate manufacturers also face pressures from regulations and consumers. For instance, in the EU region, Fazer Group's cocoa-free chocolate bars cannot be labeled as "chocolate" and can only be referred to as "confectioners", while cellular cocoa may also encounter similar regulatory challenges.
Furthermore, winning consumer favor is equally challenging. Annika Porr of Fazer Group said, "Consumers really want it to taste and feel similar to traditional cocoa, and there is still a lot of work to be done."
