Global Dark Chocolate Market – Industry Trends and Forecast to 2029

Global Dark Chocolate Market, By Product Type (Organic Dark Chocolate, Convectional Dark Chocolate), Type (70% Cocoa Dark Chocolate, 75% Cocoa Dark Chocolate, 80% Cocoa Dark Chocolate, 90% Cocoa Dark Chocolate), Sales Channel (Modern Trade, Speciality Stores, Departmental Stores, Pharmaceuticals and Confectionery Stores, Online Stores, Other Sales Channels), Application (Food, Beverages, Personal Care and Cosmetics, Pharmaceuticals and Other Applications) – Industry Trends and Forecast to 2029.

Dark Chocolate Market Analysis and Size

The widespread health and wellness trend continues to have an impact on the dark chocolate market, with manufacturers incorporating organic ingredients and natural sweeteners. The preference for dark chocolate over milk chocolate due to its health benefits remains unchanged.

Data Bridge Market Research analyses that the dark chocolate market was valued at USD 55.5 billion in 2021 and is expected to reach the value of USD 102.73 billion by 2029, at a CAGR of 8.00% during the forecast period of 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Dark Chocolate Market Scope and Segmentation

Market Definition

Dark chocolate, also known as "bittersweet" or "semisweet" chocolate, is made with cocoa butter rather than fats like palm or coconut oil. Dark chocolate has a rich and intense flavour and is high in flavonoids, which contribute to its pigment. The higher the flavonoid content, the darker the chocolate and potentially the greater the health benefits. It has a high percentage of cocoa solids, usually more than 60%, and little or no added sugar. Dark chocolate is used to make a variety of products, including chocolate bars, candies, and baking chocolate.

Dark Chocolate Market Dynamics

Drivers

• Rise in the consumption of confectionery items and change in consumers dietary preferences

The market is being driven by rising consumption of flavoured candy and confectionery items, particularly among the younger generation. Furthermore, consumers are willing to pay more for premium products with higher quality and flavour, which is fuelling market growth. Additionally, the appealing packaging of dark chocolate-based desserts and candies is supplementing the market. Along with this, rapid urbanisation and rising disposable income levels are altering consumer dietary preferences, driving up demand for dark chocolates.

• Product innovations is influencing global demand

The growing trend of health consciousness has resulted in an increase in demand for dark chocolate with less fat and artificial sugar. As a result, major manufacturers are introducing healthier options and smaller portion sizes for people who are concerned with portion control and calorie intake. Furthermore, the growing demand for organic chocolates made from naturally flavoured products is influencing global demand for dark chocolate.

Opportunities

Furthermore, rising R&D activities and increased modernization in new products on the market will open up new opportunities for the dark chocolate market. Nonetheless, increased collaborations among major players along with rising brand awareness is creating a huge market opportunity.

Restraints

Fluctuating raw material prices, particularly cocoa, inability to supply, and political instability in some countries will restrain market growth and further challenge the growth of the dark chocolate market during the forecast period.

This dark chocolate market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the dark chocolate market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Dark Chocolate Market

The cocoa market was impacted by low sales volumes caused by the COVID-19 pandemic, as well as supply-side issues related to quality and certification. In terms of exports, the Fine Cacao and Chocolate Institute (FCCI) conducted a survey on the impact of the COVID-19 pandemic, and the results were troubling. According to reports in the Dominican Republic, the harsh lockdown prevented producers and agricultural workers from visiting the plantations for several weeks until the authorities granted exceptions. As a result of the disruption in the raw material supply chain, followed by lockdown, an increasing number of specialty stores are remaining closed for an extended period of time, and volume consumption of premium chocolates is decreasing.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Global Dark Chocolate Market Scope

The dark chocolate market is segmented on the basis of product type, type, application and sales channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

• Organic Dark Chocolate
• Convectional Dark Chocolate

Type

• 70% Cocoa Dark Chocolate
• 75% Cocoa Dark Chocolate
• 80% Cocoa Dark Chocolate
• 90% Cocoa Dark Chocolate

Application

• Food
• Beverages
• Personal Care and Cosmetics
• Pharmaceuticals
• Other Applications

Sales channel

• Food
• Beverages
• Personal Care and Cosmetics
• Pharmaceuticals
• Other Applications

Dark Chocolate Market Regional Analysis/Insights

The dark chocolate market is analysed and market size insights and trends are provided by country, product type, type, application and sales channel as referenced above.

The countries covered in the dark chocolate market report are U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Europe dominates the dark chocolate market due to rising consumer demand for dark products, increased product availability in retail stores, increased emphasis on texture for a multisensory experience, and rising consumer income levels in this region.

The Middle East and Africa are expected to be the fastest growing regions in terms of dark chocolate market growth because of the increasing number of specialty retailers and recent changes in lifestyle and consumption patterns in this region

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Dark Chocolate Market Share Analysis

The dark chocolate market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to dark chocolate market.

Some of the major players operating in the dark chocolate market are:

• Cemoi Chocolatier (France)
• Republica del Cacao (Ecuador)
• Nestlé S.A. (Switzerland)
• Mars Incorporated (U.S.)
• Fuji Oil Holdings Inc. (Japan)
• Guittard Chocolate Co. (U.S.)
• Ghirardelli Chocolate Co. (U.S.)
• Varihona Inc. (France)
• Barry Callebaut AG (Switzerland)
• Alpezzi Chocolate SA De CV (Mexico)
• Kerry Group Plc (Ireland),
• Olam International Ltd. (Singapore)
• Tcho Ventures Inc. (U.S.)
• The Hershey Company (U.S.)
• Cargill, Incorporated (U.S.)
• Blommer Chocolate Company (U.S.)
• Foley's Candies LP (Canada)
• Puratos Group Nv (Belgium)
• Ferrero International S.A. (Italy)