NEW
YORK, July 1, 2024 /PRNewswire/ -- The
global dark chocolate market size is estimated to grow by
USD 36.03 billion from
2024-2028, according to Technavio. The market is estimated to grow
at a CAGR of 9.45% during the forecast period. Health benefits of
dark chocolate is driving market growth, with a trend
towards increasing consumption of gourmet, artisanal, vegan,
and gluten-free dark chocolate. However, volatility in raw
material prices poses a challenge. Key market players include
Alfred Ritter GmbH and Co. KG, Barry Callebaut AG,
Chocoladefabriken Lindt and Sprungli AG, Delfi Ltd., Ferrero
International S.A., Fuji Oil Holdings Inc., Ghirardelli Chocolate
Co., Gujarat Cooperative Milk Marketing Federation Ltd., Mars Inc.,
Meiji Holdings Co. Ltd., Mondelez International Inc., Nestle SA,
Neuhaus NV, ROSHEN Corp., SCHMITTEN, T Con Food Products, The
CAMPCO Ltd., The Hershey Co., Vosges Haut Chocolat Ltd., and Yildiz
Holding AS.
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Dark Chocolate
Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
9.45%
|
Market growth
2024-2028
|
USD 36036
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
8.42
|
Regional
analysis
|
Europe, North America,
APAC, South America, and Middle East and Africa
|
Performing market
contribution
|
Europe at
42%
|
Key
countries
|
US, Germany, Belgium,
France, and UK
|
Key companies
profiled
|
Alfred Ritter GmbH and
Co. KG, Barry Callebaut AG, Chocoladefabriken Lindt and Sprungli
AG, Delfi Ltd., Ferrero International S.A., Fuji Oil Holdings Inc.,
Ghirardelli Chocolate Co., Gujarat Cooperative Milk Marketing
Federation Ltd., Mars Inc., Meiji Holdings Co. Ltd., Mondelez
International Inc., Nestle SA, Neuhaus NV, ROSHEN Corp., SCHMITTEN,
T Con Food Products, The CAMPCO Ltd., The Hershey Co., Vosges Haut
Chocolat Ltd., and Yildiz Holding AS
|
Market Driver
The dark chocolate market is experiencing a notable trend
towards the consumption of premium varieties, including vegan,
gluten-free, gourmet, and artisanal options. This shift is driven
by changing consumer preferences towards healthier and ethically
sourced products, as well as a growing appreciation for
high-quality indulgences. In the US, for instance, the number of
vegans has risen to approximately 3.5%, leading to increased demand
for vegan dark chocolate from vendors like THEO CHOCOLATE, Nibmor,
and ALTER ECO. The gluten-free food
market's growth, fueled by health consciousness and celiac disease
awareness, is also boosting sales of gluten-free dark chocolate.
The preference for gourmet and artisanal products, characterized by
their high quality and traditional production methods, is further
fueling market growth. Overall, these trends are expected to
continue driving the growth of the global dark chocolate
market.
The dark chocolate market is experiencing significant growth due
to increasing consumer preference for healthier sweet treats. Milk
and white chocolates are being overshadowed by dark chocolate,
which is rich in antioxidants and has a bitter, robust flavor. The
demand for dark chocolate is driven by its benefits, such as
improving heart health and providing energy. Cocoa beans are the
primary raw material for dark chocolate production. Sustainability
and ethical sourcing are key concerns for brands, as consumers seek
to ensure that their chocolate is produced in an environmentally
and socially responsible manner. The market is competitive, with
players focusing on innovation, such as flavored and vegan dark
chocolates, to differentiate themselves. The future looks bright
for the dark chocolate market, with continued growth
expected.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
- The dark chocolate market relies heavily on the commodity
market for raw materials like cocoa, sugar, dairy products, nuts,
and maize sweeteners. Cocoa, the primary ingredient, experiences
price fluctuations due to supply disruptions, primarily in
Africa, the world's largest
producer. Factors such as civil unrest, labor issues, weather
conditions, and diseases impact the supply of cocoa beans.
Additionally, efforts to eliminate child labor will increase
production costs, potentially limiting market growth and raising
prices for raw materials.
- The dark chocolate market faces several challenges in
production and sourcing. The primary challenge is ensuring
consistent quality of cocoa beans, which can affect the taste and
texture of the final product. Departments store and distribute dark
chocolate, while pharmaceutical companies use it for its health
benefits. Markets require large quantities of this product, but the
natural and complex nature of cocoa beans makes production
challenging. Milk and other ingredients are added to make chocolate
more palatable, but these can also impact the final product's taste
and texture. Producers must balance the need for consistency with
the desire to offer unique and varied flavors to consumers.
Additionally, the cost of cocoa beans can be volatile, making
pricing a significant challenge for businesses in the dark
chocolate market.
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challenges - Request a sample report!
Segment Overview
This dark chocolate market report extensively covers market
segmentation by
- Type
- 1.1 Conventional
- 1.2 Organic
- Distribution Channel
- Geography
- 3.1 Europe
- 3.2 North America
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Conventional- The global dark chocolate market
caters to diverse consumer preferences with various formats. Dark
chocolate bars, available in different cocoa percentages, offer
smooth textures and rich cocoa flavors. Bars and blocks are used in
baking and confectionery, while pieces or chunks are convenient for
snacking or recipes. Infused flavors, such as fruits, nuts, spices,
and herbs, add complexity and enhance taste profiles, catering to a
wide range of preferences and driving market growth.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
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Research Analysis
The dark chocolate market encompasses the production and
distribution of this luxurious treat, derived primarily from cacao
beans. Dark chocolate's rich, complex flavor is attributed to its
high cocoa solids content, often accompanied by bitter undertones
from milk solids reduction. Natural sugars, such as cane or coconut
sugar, are added for sweetness. Vanilla extract and soy lecithin
serve as emulsifiers and flavorings. Health benefits of dark
chocolate are significant, including cardiovascular disease
prevention due to improved blood flow. Its antioxidant properties
contribute to skin health. The chocolate industry caters to various
consumer preferences, including gluten-free and premium dark
chocolates. Digital channels and dietary patterns influence the
market, driving demand for healthy products. Fine flavor cocoa,
milk chocolate, and dried fruits are common ingredients in gourmet
chocolate creations.
Market Research Overview
The Dark Chocolate market is a significant segment of the global
chocolate industry, recognized for its distinctive taste and health
benefits. This market caters to consumers seeking a rich, indulgent
treat while prioritizing their health. Dark chocolate contains a
higher percentage of cocoa solids than milk chocolate, resulting in
a more intense flavor and various health advantages. These
advantages include improved heart health, reduced risk of stroke,
and enhanced brain function. The market for dark chocolate is
driven by increasing consumer awareness of its health benefits and
the growing preference for premium chocolate products.
Additionally, the market is influenced by factors such as changing
consumer demographics, rising disposable income, and innovative
product development. The demand for dark chocolate continues to
grow, fueled by its versatility as an ingredient in various food
and beverage applications and its popularity as a standalone
treat.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Type
-
- Distribution Channel
-
- Geography
-
- Europe
- North America
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio