Dark Chocolate Market

Global Dark Chocolate Market: Country Overview; Recent Events; Value Chain Analysis; Production Process; Price Analysis; Indicator Analysis; Market Dynamics: Drivers & Constraints, Innovations & Trends, SWOT Analysis, Porter’s Five Forces; Industry Best Practices: Sourcing Strategy, Procurement Model, Key Factors Influencing the Quotation; Key Supplier Analysis, 2023-2028

Dark Chocolate Market by Regional Category Spend, Price Analysis, Key Demand and Price Indicators, and Best Buying Practices

The global Dark Chocolate market reached a value of about USD 55.5 billion in 2021. The industry is projected to grow at a CAGR of around 4.9% in the forecast period of 2022-2027 to reach a value of about USD 74.9 billion by 2027.

The global dark chocolate market gives a comprehensive analysis of the industry including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. Dark chocolate is popular among consumers owing to its various health benefits. The widespread health and wellness movement is driving its industry. Its addition in different food and beverage products further contributes to the market's growth. In the industry report, the critical demand indicator is the highest category spender by region—Europe (Western Europe).

Industry Definition and Segmentation

Dark chocolate is a type of chocolate that contains cocoa solids and cocoa butter but excludes the milk or butter present in milk chocolate. It is also known as bitter chocolate as it does not have any added sweetener. It is high in nutrients that are beneficial for the health as it is produced from the cacao tree's seed and is one of the most significant sources of antioxidants available. The dark chocolate market comprises segments by distribution channel (supermarkets and hypermarkets, convenience stores, non-grocery retailers, others), region (North America, Europe, Asia Pacific, the Middle East, Africa, and South America). The European market holds a significant share in the bitter chocolate market owing to high consumption in the Western European region.

North America, Europe, Asia Pacific, Middle East & Africa, and South America Regions are Driving the Growth of the Industry

The significant region in the global dark chocolate market in North America, Europe, Asia Pacific, the Middle East, Africa, and South America, with Western Europe driving the sector due to increased demand for organic variety of it among consumers in the area, forcing brands to add natural and organic components in their goods. The rising health consciousness among people with increasing knowledge regarding the nutritional content in the product is driving the market's growth.

The consumption of the product offers benefits like protecting the brain from age-related stress and inflammation, both of which have a role in neurodegenerative diseases like Alzheimer's disease. It also helps in enhancing blood circulation to the brain, which improves the capacity to focus, improves memory, and reduces anxiety levels. As a result, there is a rising surge in demand for the product. The growing consumer preference for premium bitter chocolate that is more limited-edition seasonal chocolates is augmenting sales in the sector. Other factors such as a rise in disposable income, changing consumption patterns, a shift towards western sweets, etc., are furthering the industry's expansion.

At present most of the actions are focused on technical solutions to improve farming practices however the inherent problem at the base level is to deal with power and political economy, how the markets prices are decided, no negotiating power with the farmers, market absorption of international business and absence of transparency and responsibility of both government and companies.

Best Procurement Practices

The global dark chocolate market by Procurement Resource gives an in-depth analysis of the best buying practices followed by major global dark chocolate production and consuming regions across the globe, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.

Category Management Studies

Making chocolate starts with the collection of coca leaves from a jungle. Cocoa beans develop in pods from cocoa trees' trunks and branches. When the pods are ready, harvesters walk around the cocoa orchards with machetes, delicately hacking the pods off the trees. The cocoa pods are gathered into baskets and sent to a processing facility. Later, the cocoa beans are removed after they are split apart. Each pod can contain up to 50 cocoa beans.

The beans then go via a fermenting process. They're heated on huge, shallow pans or wrapped in giant banana leaves. After drying, the seeds are transported to chocolate producers. Production procedures vary depending on the many types of cocoa trees, but most facilities utilise comparable machinery to break down the cocoa beans into cocoa butter and chocolate. First, fermented, and dried cocoa beans will be winnowed and roasted to produce a roasted nib.

They'll be cooked and melted into chocolate liquor after that. Finally, producers mix chocolate liquor with sugar and milk to enhance flavour. The liquid chocolate will be kept or transferred to the moulding facility in tanks after the blending process, where it will be put into moulds for sale. Finally, the chocolates will be packed by wrapping and packaging equipment, and they will be ready to transport.

The Supermarket and Hypermarket Segment, Further Propelling the Procurement of Dark Chocolate

The supermarkets and hypermarkets category are leading the sales in the sector as it provides buyers with a wide range of brands to pick from, ranging from low-cost to high-end. Due to many brands available, ample shelf space, and regular price discounts in the markets, the industry is witnessing further growth.

The ease of accessibility and availability is furthering the development of the sector. Unsweetened chocolate has also become a popular component for baked foods, confectioneries, bar fillings, and drinks, among other things. As a result, the global dark chocolate market is likely to benefit from the rise of the food and beverage industry.

The regional markets for the industry can be divided into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.

Key Industry Players Mentioned in the Dark Chocolate Market

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

Market Landscape

The major brands and manufacturers of the product are continuously expanding their range and targeting a new audience. The launches of new and innovative products with different ingredients and flavours positively impact the market. Various industry companies have made significant product advancements in response to shifting consumer tastes and preferences. Exciting advertisements and social media activities for promotional activities are creating new opportunities for key players.

Key Initiatives by Companies

  • Amul Chocolate is giving competition to the packaging of overseas brands like Lindt or Hershey's and emphasising flavours, particularly dark chocolate.

1.    Executive Summary
2.    Dark Chocolate Market Snapshot

    2.1.    Dark Chocolate Market Outlook
    2.2.    Dark Chocolate Industry Analysis by Distribution Channel
        2.2.1.    Supermarkets and Hypermarkets
        2.2.2.    Convenience Stores
        2.2.3.    Non-Grocery Retailers
        2.2.4.    Others
    2.3.    Region Overview
        2.3.1.    Asia-Pacific
        2.3.2.    Europe
        2.3.3.    North America
        2.3.4.    Latin America
        2.3.5.    Middle East & Africa
3.    Impact of Recent Events
4.    Dark Chocolate Value Chain Analysis
5.    Dark Chocolate Production Process
6.    Trade Analysis
7.    Major Risk Factors in Sourcing
8.    Dark Chocolate Cost Structure
9.    Dark Chocolate Price Analysis
10.    Key Demand Indicator Analysis
11.    Key Price Indicator Analysis
12.    Dark Chocolate Market Dynamics

    12.1.    Drivers & Constraints
    12.2.    Industry Events 
    12.3.    Innovations & Trends
    12.4.    Swot Analysis
    12.5.    Porter’s Five Forces
        12.5.1.    Buyer Power
        12.5.2.    Supplier Power
        12.5.3.    Threat of New Entrants
        12.5.4.    Threat of Substitutes
        12.5.5.    Industry Rivalry
13.    Industry Best Practices
    13.1.    Sourcing strategy
    13.2.    Procurement Model
    13.3.    Contract Structure
    13.4.    Negotiation Levers
    13.5.    Pricing Model
    13.6.    Key Factors Influencing the Quotation 
14.    Key Supplier Analysis
    14.1.    Ferrero International S.A.
    14.2.    Nestlé S.A.
    14.3.    Mondelez International, Inc.
    14.4.    The Hershey Company
    14.5.    Gujarat Cooperative Milk Marketing Federation Ltd (Amul)

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Key Questions Answered in the Report

The global dark chocolate market size was valued at USD 55.5 billion in 2021.

As per the distribution channel, the supermarkets/hypermarkets segment is anticipated to lead the market between the period 2021 – 2028.

The significant demand for premium and high-quality cocoa chocolates is one of the essential drivers of the dark chocolate market growth.

Some of the leading companies in the global market are Ferrero International, Nestlé, Mondelez International, Inc., Amul, Ritter Sport, The Hershey Company and others.

Region-wise, the European segment of the industry holds a significant share in the market.

Analyst Review

The global dark chocolate market attained a value of USD 55.5 billion in 2020, driven by the rising prevalence of health awareness among consumers. With the improving understanding of the nutritional value of the products, the demand for high quality and premium bean products is increasing. Other causes, such as an increase in disposable income, shifting consumer patterns, and a trend toward western sweets, also contribute to the industry's growth. Aided by the dominance of the supermarkets and hypermarkets segment in the industry, the market is expected to witness further growth in the forecast period of 2022-2027, growing at a CAGR of 4.9%. The market is projected to reach USD 74.9 billion by 2027.

Procurement Resources’ detailed research approach explores deep into the industry, encompassing the macro and micro aspects of the industry. Its team of experts uses a combination of cutting-edge analytical tools and their expertise thus, delivering its customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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