Global Dark Chocolate Market Report and Forecast 2023-2028

Global Dark Chocolate Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global dark chocolate market reached a value of USD 55.07 billion in 2022. Aided by the rising awareness of its health benefits and its broadening use in various culinary applications, the market is projected to further grow at a CAGR of 7% between 2023 and 2028 to reach a value of USD 82.66 billion by 2028.

Dark chocolate, characterised by its high cocoa content and minimal sugar, has been gaining traction among consumers worldwide. Revered for its rich, intense flavour, dark chocolate is not only a favourite indulgence but also contains antioxidants like flavonoids, which have been linked to various health benefits. Studies suggest that moderate consumption of dark chocolate may help improve heart health, reduce inflammation, and even enhance mood.

One of the most salient drivers for the dark chocolate market growth is the growing consumer shift towards healthier snacking options. As global awareness of the perils of high sugar intake intensifies, dark chocolate, with its lower sugar content compared to its milk chocolate counterpart, emerges as a preferred choice. Coupled with the increasing prevalence of lifestyle diseases, consumers are actively seeking out products that align with a balanced diet, inadvertently bolstering the dark chocolate market.

Furthermore, the culinary world's blossoming affair with dark chocolate has further amplified dark chocolate market demand. Renowned chefs and bakers are incorporating this ingredient into a plethora of dishes, from savoury to sweet, demonstrating its versatility and broadening its consumer base. This gastronomic trend, especially in premium and gourmet segments, is propelling the dark chocolate market to new heights.

Additionally, the rise in premiumisation and consumer willingness to spend more on high-quality, artisanal chocolates has propelled the dark chocolate market demand. Craft and artisanal chocolate makers, emphasising bean-to-bar processes and sustainable sourcing, have found a growing clientele among the discerning and environmentally conscious consumers. This trend of premiumisation, often accompanied by innovative flavour infusions, is further enriching the global dark chocolate palette.

Moreover, the cosmetic and skincare industry's growing interest in dark chocolate cannot be overlooked. Dark chocolate is being infused in various skincare products, ranging from face masks to moisturisers. The antioxidants present in dark chocolate are believed to combat skin ageing, leading to its increased application in the beauty and wellness sector, further adding value to the dark chocolate market size.

Market Segmentation

The market can be divided based on distribution channel and region.

Market Breakup by Distribution Channel

• Supermarkets and Hypermarkets
• Convenience Stores
• Non-Grocery Retailers
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global dark chocolate market. Some of the major players explored in the report by Expert Market Research are as follows:

• Ferrero International
• Nestlé
• Mondelez International, Inc.
• Amul
• Ritter Sport
• The Hershey Company
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.