The best replacement for caramel is carmel.

The best alternatives to caramel are rated as following:
★★★★★  carmel
★★★★  butterscotch
★★  toffee
★★  dulce de leche
★  crystal malt
★  candy apples
  carmel pronounce
  flan
  caramel flan
  caramel
  honey blonde
  salted caramel
  butterscotch and toffee
  creme brulee
  hazelnut macchiato
  fudge
  popcorn
  dulce leche

Your alternative for caramel is not listed? Suggest!
Speaking about caramel, one probably shouldn't forget about condensed milk.

Other search terms related to caramel and their ratings are:
★★★★★ condensed milk
You have in mind a companion for caramel and it is not yet here? Propose!



Google Trends

Scale is based on the average worldwide traffic of caramel in all years. Click on graph for more.
caramel
carmel
butterscotch