Rising coffee and chocolate prices fuel growth of substitutes industry in Europe

게시됨 2024년 12월 27일

Tridge 요약

Due to the significant increase in the global prices of coffee and chocolate, caused by the impact of climate change on producing countries and rising production costs, alternative cereal-based products are gaining popularity in Europe as demand for these substitutes surges. These alternatives, which include soluble barley and cocoa-free chocolate made from roasted malted barley powder, are becoming increasingly important as a cost-effective solution for consumers and manufacturers facing the financial strain from the soaring prices of raw materials. The global market for these coffee and chocolate substitutes is anticipated to continue its growth, with advancements in synthetic alternatives under development. However, EU regulations maintain strict standards for the naming of these products, ensuring that they do not mislead consumers by falsely representing themselves as the original products.

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원본 콘텐츠

(Agraria.pe) As coffee and chocolate prices rise on global markets, alternative cereal-based products are gaining strength to continue to meet growing demand in Europe. As reported by Euractiv Agrifood Pro Brief, the rising cost of raw materials, driven mainly by the effect of climate change in producing regions such as Ghana and Ivory Coast (cocoa) and Brazil (coffee), is a challenge for confectionery producers. They saw their production costs rise, and European consumers will probably notice this on their breakfast bill. While the price of cocoa futures has traditionally been between $2,000 and $3,000 (€1,920 to €2,880) per tonne in recent years, it has now soared to over €10,000. The same applies to coffee. Futures for Arabica, the world's most widely consumed coffee, are currently at €3.2/pound (0.45kg), up almost 70% from the start of the year. The total coffee market is worth €46bn, with no less than 9.5m tonnes of coffee produced annually worldwide, according to a report by ...

출처: Agraria