NEW
YORK, July 16, 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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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Type (Conventional and
Organic), Distribution
Channel (Offline and Online), and Geography
(Europe, North America, APAC, South America,
and Middle East and Africa)
|
Region
Covered
|
Europe, North America,
APAC, South America,
and Middle East and Africa
|
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
|
Key Market Trends Fueling Growth
The global dark chocolate market is experiencing notable growth
due to consumer preferences shifting towards healthier, ethically
sourced, and high-quality gourmet, artisanal, vegan, and
gluten-free varieties. These trends are driven by increasing health
consciousness, ethical considerations, and a desire for indulgent
treats. Vegan dark chocolate is gaining popularity among consumers
following a vegan lifestyle, which is estimated to include
approximately 3.5% of the US population. In 2020, around 9.6
million Americans adopted this diet. Vendors such as THEO
CHOCOLATE, Nibmor, and ALTER ECO
cater to this demand with their vegan dark chocolate offerings.
Gluten-free dark chocolate is another growing segment due to the
increasing prevalence of celiac disease and other digestive health
issues. With no medication available for celiac disease, a
gluten-free diet is the only solution. Furthermore, the rise in
demand for nutritious food and weight management concerns is
fueling the growth of the gluten-free food market. Gourmet and
artisanal dark chocolates are increasingly sought after for their
high-quality, artistic presentation, and perceived luxury.
Consumers perceive these products as self-indulgent treats and
appropriate gifts. Vendors such as Neuhaus, Lindt, and Rocky
Mountain Chocolate Factory cater to this demand with their gourmet
and artisanal dark chocolate offerings. In conclusion, the growing
demand for gourmet, artisanal, vegan, and gluten-free dark
chocolate is expected to significantly contribute to the growth of
the global dark chocolate market during the forecast
period.
The dark chocolate market is thriving, with a growing preference
for its bitter taste over milk chocolate. Cacao beans, cocoa
solids, and cocoa butter are key ingredients, while milk solids and
sugar are used in smaller quantities. Vanilla extract and soy
lecithem emulsifiers add to the fine flavor. Health benefits
include improved cardiovascular health, better blood flow, and skin
health. The chocolate industry focuses on fine flavor cocoa,
gluten-free chocolate, and premium dark chocolates. Dried fruits
like blueberries and cranberries are popular additions. Digital
channels, departmental stores, pharmaceutical stores, and
confectionary stores are key distribution channels. Natural sugars
like coconut sugar and flavonoids are trending. Dark chocolate's
medical advantages include combating age-related stress,
inflammation, and improving brain function. The cocoa market faces
a perception crisis due to its high sugar content, but natural
ingredients and dietary patterns are driving demand for healthy
products.
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Market Challenges
- Dark chocolate is produced using various commodities, with
cocoa being the primary ingredient. The prices for cocoa and other
ingredients, such as sugar, dairy products, nuts, and maize
sweeteners, are driven by the commodity market. The cost of cocoa,
specifically cocoa butter, significantly impacts the price of dark
chocolate. Cocoa butter, which is expensive and complex to produce,
provides richness to the product and is used in thin chocolate
confections. Africa, particularly
the Ivory Coast and Ghana, is the largest cocoa producer,
accounting for over two-thirds of the world's supply. However,
fluctuations in the cocoa supply can result from civil and
political unrest, labor issues, weather conditions, diseases, and
pests. Longer periods of dry weather or reduced labor can
negatively impact cocoa bean growth and yield, leading to shortages
and price increases. Additionally, efforts to eliminate child labor
in the cocoa industry may result in lower production or higher
cocoa prices due to increased labor costs. These factors may hinder
the growth of the dark chocolate market during the forecast period
and impact the prices of raw materials.
- The dark chocolate market faces several challenges in
distribution, with department stores, pharmaceutical stores,
confectionary stores, and digital channels all vying for a share.
Cocoa butter and flavonoids are key ingredients, but availability
of high-quality cocoa and the use of emulsifiers and flavorings
like vanilla can impact taste and health benefits. Premium dark
chocolates, with natural sugars or alternatives like coconut sugar,
are popular due to their perceived health advantages. However, a
perception crisis surrounds natural sugars, leading some consumers
to opt for gourmet chocolates with dried fruits, blueberries, or
cranberries instead. Medical advantages, such as improved brain
function, reduced anxiety levels, and better blood circulation, are
driving demand for dark chocolate. Age-related stress,
inflammation, and focus/memory concerns are also key areas of
interest for consumers. Natural ingredients are preferred, making
sustainable sourcing and ethical production essential.
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challenges - Download 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- In the global dark chocolate
market, conventional products cater to diverse consumer preferences
through various formats. Dark chocolate bars, available in
different cocoa percentages, range from semi-sweet to bittersweet,
offering smooth textures and rich cocoa flavors. Dark chocolate
blocks are versatile for baking and confectionery applications.
Dark chocolate pieces or chunks are convenient for snacking or
recipes. Infused dark chocolate products, featuring flavors like
fruits, nuts, spices, and herbs, add complexity and enhance taste
profiles, catering to a wide range of preferences. The conventional
segment's diversity boosts the growth of the global dark chocolate
market.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Learn and explore more about Technavio's in-depth research
reports
The global white chocolate market is experiencing steady growth,
driven by increasing consumer demand for premium and specialty
chocolates. Major players are innovating with unique flavors and
health-oriented ingredients, catering to diverse taste preferences.
Rising disposable incomes and expanding retail channels further
boost market expansion. North
America and Europe lead in
consumption, while Asia-Pacific
shows significant potential due to evolving consumer tastes.
Sustainable sourcing and ethical production practices are gaining
prominence, influencing purchasing decisions and shaping the future
of the white chocolate market.
Research Analysis
Dark chocolate, made from cacao beans with a minimum of 70%
cocoa solids, is known for its rich, bitter taste, which sets it
apart from milk chocolate. The absence of milk solids gives dark
chocolate a more intense cocoa flavor and fewer milk sugars. Dark
chocolate is sweetened with natural sugars like cane or coconut
sugar, and may contain vanilla extract and soy lecithin as
emulsifiers. Despite its bitter aftertaste, dark chocolate offers
numerous health benefits. It's rich in antioxidants, which can help
improve cardiovascular health by increasing blood flow. Dark
chocolate is also known to have medical advantages for skin health.
The chocolate industry continues to innovate, offering gluten-free
and premium dark chocolates, as well as flavorings like dried
fruits and nuts. Digital channels and dietary patterns have shifted
consumer preferences towards healthy products, leading to a
perception crisis for chocolate. However, the natural sugars and
fine flavor cocoa in dark chocolate make it a gourmet treat worth
indulging in.
Market Research Overview
Dark chocolate, made from cacao beans with a minimum of 70%
cocoa solids, offers a rich, bitter taste contrasted by sweeteners
like sugar. Milk solids are sometimes added to mitigate the
bitterness. Dark chocolate production includes vanilla extract and
soy lecithin as emulsifiers. Health benefits include improved
cardiovascular health, enhanced blood flow, and skin health. The
chocolate industry thrives on fine flavor cocoa, with distribution
channels spanning departmental stores, pharmaceutical stores, and
confectionary outlets. Cocoa butter and flavonoids are essential
components. Dark chocolate's medical advantages include potential
prevention of cardiovascular disease, reduction of anxiety levels,
and improvement of brain function, including focus, memory, and
age-related stress. Premium dark chocolates may include natural
ingredients like dried fruits, blueberries, and cranberries,
catering to health-conscious consumers. Digital channels and
dietary patterns have influenced the market, with a perception
crisis surrounding natural sugars. Alternatives like coconut sugar
and gourmet chocolate offer solutions.
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
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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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