Daily Newsletter

17 October 2024

Daily Newsletter

17 October 2024

Voyage Foods expands cocoa-free chocolate production with new plant 

Voyage is hoping to benefit from the anticipated 11% decline in global cocoa production for the 2023-2024 period. 

Shivam Mishra October 17 2024

US food-tech company Voyage Foods is opening a new facility in Ohio to produce its cocoa-free chocolates, nut-free spreads and bean-free coffee. 

The 284,000 sq ft plant in the town of Mason, which is expected to be operational by the new year, will boost the company's manufacturing capabilities, with an annual production capacity of 10,000 tonnes of chocolate. 

Oakaland, California-based Voyage’s expansion follows a partnership with US agri-food giant Cargill, established in April, which positioned the latter as Voyage's exclusive B2B global distributor for its spreads and chocolate.  

The new facility will bolster Voyage's ability to meet the growing demand from other manufacturers and the foodservice channel, the company said.

It is also hoping to take advantage of a cocoa shortage, exacerbated by adverse weather conditions in major cocoa-producing countries such as Cote d'Ivoire and Ghana. 

The forecast is for a 11% decline in global cocoa production for the 2023-2024 period, falling to 4.37 million tonnes.  

Voyage's product portfolio includes Peanut-Free Roasted Seed Spread and Hazelnut-Free Roasted Seed Spread, both free from the top nine allergens.

Voyage states that its products are made from affordable, commonly available plant-based ingredients, many of which are upcycled from waste and byproducts. 

To date, Voyage Foods has secured more than $94m in backing from investors.  

The Ohio facility's construction has been supported by a guaranteed loan of approximately $25m from the US Department of Agriculture. 

Uncover your next opportunity with expert reports

Steer your business strategy with key data and insights from our latest market research reports and company profiles. Not ready to buy? Start small by downloading a sample report first.

Newsletters by sectors

close

Sign up to the newsletter: In Brief

Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Thank you for subscribing

View all newsletters from across the GlobalData Media network.

close