The ‘Global Dark Chocolate Market Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global dark chocolate market, assessing the market on the basis of its segments like distribution channels and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
Dark Chocolate Market Size, Share, Price, Growth, Trends, Industry Report, Key Players, Major Segments and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): Over USD 55.07 Billion
- Forecast CAGR (2023-2028): 7%
The rising demand for sugar-free chocolate is a major factor driving the dark chocolate market growth. People are growing more conscious about their health; this has propelled the demand for dark chocolate due to its nutritional benefits and antioxidant properties.
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Antioxidants found in dark chocolate help lower the risk of heart disease and stroke. Moreover, it aids in lowering blood pressure, enhancing cognitive function, and decreasing the risk of cancer.
Key players in the market are focusing on introducing new and exotic dark chocolates to enhance their market influence. The rising attention to quality by manufacturers has increased the utilisation of unique and high-quality cocoa beans from Latin America and Africa. Moreover, the growing demand for gourmet and premium chocolate with enhanced functionality and flavour is providing significant dark chocolate market development opportunities.
The market is being driven by the growing demand for dark chocolate in developing countries such as China and India, among others. This surge in demand is supported by the rising disposable income and rapidly shifting food preferences among consumers.
Dark Chocolate Industry Definition and Major Segments
Dark chocolate is a type of chocolate that is made with 50-90% cocoa solids and cocoa butter. It does not contain any milk solids, which makes it a healthier option when compared to milk chocolates. Dark chocolates have an abundance of organic compounds that act as antioxidants and minerals.
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Based on distribution channels, the dark chocolate market can be segmented into:
- Supermarkets and Hypermarkets
- Convenience Stores
- Non-Grocery Retailers
The major regional markets for dark chocolate include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Dark Chocolate Market Trends
There is an increasing demand for gluten-free chocolate, which is unsweetened and pure forms of chocolate and is usually obtained from roasted cacao beans. The increasing popularity of gluten-free diets owing to surging health consciousness and rising cases of Celiac disease is also driving the demand for gluten-free dark chocolate.
Manufacturers are focusing on creating unique flavours such as sea salt, chile, and lavender, among others, to meet the growing demand for premium and artisan dark chocolates. As customers are willing to pay more for excellent dark chocolate with a distinctive flavour and texture profile, the dark chocolate market is witnessing a healthy growth.
Among the market regions, North America is expected to hold a major share in the market owing to the presence of key market players and increasing health consciousness in the United States and Canada.
Key Market Players
The major players in the global dark chocolate market report include Ferrero International, Nestlé, Mondelez International, Inc., Amul, Ritter Sport, and The Hershey Company, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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