With Cocoa Butter at $28,000, More Companies Go for ‘Chocolatey’

Foodmakers who’ve already shrunk packaging and raised chocolate prices to weather this year’s run-up in cocoa costs are rapidly rewriting recipes to use none of the stuff at all.

That’s according to the growing number of companies that supply cocoa-butter alternatives. They’re rapidly launching new product lines and growing volumes as demand for their cocoa-free products soars alongside the price of cocoa beans.

Cocoa butter prices are near $28,000 a ton, according to data from KnowledgeCharts — more than quadruple last year’s costs and about the same price as a budget sedan. Alternatives are roughly 40% cheaper, said Aaron Buettner, ...