The Dark Chocolate Market delivers a succinct analysis on industry size, regional growth and revenue forecasts for the upcoming years. The report further sheds light on significant challenges and latest growth strategies adopted by manufacturers who are a part of the competitive spectrum of this business domain.
Global Dark Chocolate Market is valued at USD 46.29 Billion in 2018 and expected to reach 71.71 USD Billion by 2025 with the CAGR of 7.95% over the forecast period.
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This Dark Chocolate Market report also covers the impact of COVID-19 on the global market. The pandemic caused by Coronavirus (COVID-19) has affected every aspect of life globally, including the business sector. This has brought along several changes in Dark Chocolate market conditions.
Rising attention of customers on health-focused consumables, rising expenditure capacity, increasing taste preferences and brand loyalty towards an infamous brand and growing urbanisation are the major factors for driving the growth of Global Dark Chocolate Market.
Scope of Global Dark Chocolate Market Report-
Dark chocolate is made from cocoa butter instead of fats such as palm oil and coconut oil. Dark chocolate has a rich and rich flavor, is an excellent source of flavonoids and helps in the production of pigments. The higher is the level of flavonoids and the darker is the chocolate, the greater the potential health benefits. It contains a high proportion of cocoa solids, generally over 60%, with little or no added sugar. Some dark chocolate products include chocolate bars, candy, and baked chocolate.
Dark chocolate protects the brain from geriatric stress and inflammation, which play an important function in neurodegenerative diseases such as Alzheimer's disease. In addition, it also helps promote blood circulation in the brain, which can improve the ability to concentrate, improving memory and controlling anxiety levels. Eating chocolate also inhibits the release of cortisol, a stress hormone. For consumers, it is better to include elements to alleviate health problems in the regular diet, rather than depend on drugs. Since chocolate helps to relax and induce happiness, it is expected that over the next few years, sales of chocolate will continue to grow. Chocolate is also accompanied by a symbol of gratitude, love and happiness, and is offered as a gift during the holiday season, which stimulates demand for products. Depending on the occasion, they are made in different shapes, sizes, colors and product materials.
Global Dark Chocolate Market is segmented on the basis of product type, state, distribution channel and end-user. On the basis of product type, the market is segmented into bitter chocolate, semi-sweet chocolate, pure bitter chocolate. On the basis of state, market is segmented into countlines, molded, softlines and others. On the basis of distribution channel, the market is segmented into retailers, online stores, supermarkets, hypermarkets, convenience shops and others. On the basis of end-user, the market is segmented into confectionaries, beverage industry, bakeries, residential and others.
The regions covered in this Dark Chocolate market report are North America, Europe, Asia Pacific and rest of the World. On the basis of country level, market of Dark Chocolate is subdivided into U.S., Mexico, Canada, U.K., Germany, France, Italy, China, Japan, South East Asia, Africa, etc.
Dark Chocolate Companies:
Dark Chocolate Market report covers major key players in the market like,
The Hershey Company
Lindt and Sprungli
Global Dark Chocolate Market Dynamics-
Rising attention of customers on health-focused consumables and associated health benefits catered by dark chocolate, rising expenditure capacity, increasing taste preferences and brand loyalty towards an infamous brand, attractive packaging and growing urbanisation are the major factors for driving the growth of Global Dark Chocolate Market. As per the statistics revealed from Harvard publications, a daily intake of 6 grams or 1-2 cubes of cocoa can reduce the risks of heart attack, diabetes, blood pressure and inflammation.
Moreover, dark chocolate possesses several expanding attributes that make it suitable for blending purposes for making different beverages and confectionary items. Dark chocolate is known to have positive impact on cardiac health. Additionally, dynamic purchase behaviour of consumers is another reason for the growing traction of dark chocolate. These are other major factors that are contributing for the growth of dark chocolate market.
However, cocoa, which is an essential element in dark chocolate is known to possess varied prices. There is also a fluctuation in the prices and irregularities in the supply of other important raw materials of dark chocolate. There is also a presence of political instability and stringent approval criteria in some countries regarding dark chocolate. All these factors are expected to act as restraints for the growth of dark chocolate market.
There is an increasing preference for organic products in consumers. It is known to compel manufacturers of dark chocolate to go wholly organic and clean label, for which they seek freshly grown cocoa beans from finest places. Additionally, growing experiments and inclusions of different flavours along with dark chocolate that may be in the form of fruits, dry fruits, crunches etc. are gaining popularity in the market. These are attractive features that are blending with changing consumer preferences right in, which are expected to offer lucrative opportunities for the growth of dark chocolate market.
North America is expected to remain a dominant region in the Global Dark Chocolate Market.
North America is the dominant region in the market with the largest share of the global Dark Chocolate market, due to growing urbanization and large demand for dark chocolate from Europe and North American countries. There is a large supply of cocoa beans from different countries like Ivory coast and Ghana in the countries of North America. Additionally, huge expenditure capacity, trend of dark chocolates as a part of westernization, strong presence of the companies which are leading producers of dark chocolate further strengthens its position in the region. As per statistics, Americans spend around 22 billion dollars every year on chocolate.
Whereas Asia Pacific region is expected to grow at a fastest rate and exhibit a spurring growth in the Dark Chocolate market. The major reasons being concessions in tax levied by government on chocolate producers and grinders. There is also a growing number of specialty stores and rising attention towards health consciousness. Additionally, growing disposable income in the countries like India and China, and changing consumer preferences for taste and health factors is expected to drive the market in APAC region in coming years. Based on a survey, 1 out of every 5 people in India consume a chocolate product daily.
Key Benefits of Global Dark Chocolate Market Report-
Global market report covers in depth historical and forecast analysis.
Global market research report provides detailed information about Market Introduction, Market Summary, Global Market Revenue (USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country level.
Global market report helps to identify opportunities in market place.
Global market report covers extensive analysis of emerging trends and competitive landscape.
Global Dark Chocolate Market Segmentation: –
By Product Type: Bitter chocolate, Semi-sweet chocolate, Pure bitter chocolate
By State: Countlines, Molded, Softlines
By Distribution Channel: Retailers, Online stores, Supermarkets, Hypermarkets, Convenience shops
By End User: Confectionaries, Beverage industry, Bakeries, Residential
By Regional Analysis:
North America, Europe, Asia Pacific, Latin America, Middle East and Africa
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