Global Dark Chocolate Market is of various types: Organic Dark Chocolate, Inorganic Dark Chocolate, and Other. The organic and clean label movement has swept the food and beverage industry as a whole. The organic and pure label trend impacts dark chocolate manufacturers, increasing demand for premium and organic ingredients. Manufacturers are also adding natural sweeteners like stevia and coconut sugar to appeal to a consumer base concerned about their food choices.
COVID-19 Impact on Dark Chocolate Industry
COVID-19 had a positive impact on the chocolate market when it first appeared in 2020. During the lockdown, chocolate consumption at home increased dramatically. Chocolates, like other consumables, were purchased in bulk, resulting in higher volume sales through supermarkets and hypermarkets. However, after relaxing limitations in both importing and exporting countries, the market became more stable.
Dark Chocolate and its Health Benefits
Globally, Dark Chocolate is used for various purposes like Confectionery, Functional Food & beverages, Pharmaceuticals and Cosmetics. Its market is vast in the food and beverages sector because of its use in salt and sweet dishes to make lip-smacking smoothies. However, its various health benefits escalate its market globally. Dark chocolate consumption protects the brain from age-related stress and inflammation, which play a role in neurodegenerative diseases like Alzheimer's. It also aids in enhancing blood circulation to the brain, which improves the capacity to focus, improves memory, and reduces anxiety levels. The worldwide dark chocolate market is predicted to develop moderately over the next five years due to the above-mentioned factors. The Global Dark Chocolate Industry will likely grow at a CAGR of 6.03% from 2020-2027.
Regional Analysis: North America holds the Largest Market Share
North America holds the largest Dark Chocolate market share worldwide because of well-known brands and increasing chocolate consumption. Festivals like Christmas, Good Friday, and others are expected to raise the demand for chocolates and improve sales. According to the research over the forecast period, the Asia-Pacific region is expected to increase faster. The growing influence of western culture and eating habits, together with the country's rapid population expansion, are the major drivers expected to fuel market growth in this region. the research suggests that The Worldwide Dark Chocolate Market Size was US$ 47.77 Billion in 2020.
However, fluctuating raw material costs, particularly cocoa, supply instability, and political instability in cocoa-producing countries, are projected to pose a challenge to market expansion. Factors like changing customer flavour preferences regularly are also a growing barrier.
This latest report “Global Dark Chocolate Market by Product Type (Organic Dark Chocolate , Inorganic Dark Chocolate , Other), Application (Confectionery, Functional Food & Beverage, Pharmaceuticals, Cosmetics), Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Non-Grocery Retailers, Others), Region (North America, Europe, Asia-Pacific, South America, Middle East & Africa), Company Analysis (Hershey's, Mondelez International, Inc., Amul, Meiji Holdings Co. ltd, Saputo Inc)” provides complete details on Global Dark Chocolate Industry.
Type -Market breakup from 3 viewpoints
1. Organic Dark Chocolate
2. Inorganic Dark Chocolate
3. Other
Application - Market breakup from 4 viewpoints
1. Confectionery
2. Functional Food & Beverage
3. Pharmaceuticals
4. Cosmetics
Distribution Channel - Market breakup from 4 viewpoints
1. Supermarkets and Hypermarkets
2. Convenience Stores
3. Non-Grocery Retailers
4. Others
Region - Market breakup from 5 viewpoints
1. North America
2. Europe
3. Asia-Pacific
4. South America
5. Middle East and Africa
All Key players have been covered from 3 viewpoints
- Overview
- Recent Development
- Revenue
Company Analysis
1. Hershey's
2. Mondelez International, Inc.
3. Amul
4. Meiji Holdings Co. ltd
5. Saputo
What is the estimated value of the Global Dark Chocolate Market?
What is the growth rate of the Global Dark Chocolate Market?
What is the forecasted size of the Global Dark Chocolate Market?
Who are the key companies in the Global Dark Chocolate Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 130 |
| Published | September 2021 |
| Forecast Period | 2020 - 2027 |
| Estimated Market Value ( USD | $ 47.77 Billion |
| Forecasted Market Value ( USD | $ 71.98 Billion |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 5 |
Table of Contents
Companies Mentioned
- Hershey's
- Mondelez International, Inc.
- Amul
- Meiji Holdings Co. ltd
- Saputo
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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