Dark chocolate market will accelerate at a CAGR of 8.62% from 2022 to 2027, Growing demand for dark chocolates as gifts to drive growth - Technavio

NEW YORK, April 26, 2023 /PRNewswire/ -- The dark chocolate market size is set to grow by USD 30,084.86 million between 2022 and 2027 and register a CAGR of 8.62%, according to Technavio's latest market research report estimates. With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study by way of synthesis and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read our sample report

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. 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 are some of the major market participants. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments while maintaining their positions in the slow-growing segments.

Dark chocolate market 2023-2027: Segmentation

• Type 
• Conventional
• Organic
• Distribution Channel 
• Offline
• Online
• Geography 
• Europe
• North America
• APAC
• South America
• Middle East and Africa

The conventional segment will account for a significant share of market growth during the forecast period. In this segment, dark chocolate products are made using traditional cocoa beans, which are grown using synthetic pesticides, herbicides, and fertilizers. These products may contain artificial preservatives, flavors, and colors. Traditional dark chocolate products are less expensive than organic or specialty dark chocolate products. They are sold as bars, blocks, chips, and other products.

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Dark chocolate market 2023-2027: Vendor analysis and scope

Some of the major vendors of the dark chocolate market 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. To help businesses improve their market position, Technavio's report provides a detailed analysis of around 15 vendors operating in the market. The key offerings of some of these vendors are listed below:

• Chocoladefabriken Lindt and Sprungli AG - The company offers dark chocolates, namely Lindt Excellence Madagascar Cacao Dark Chocolate Bar, Lindt Excellence Ecuador Cacao Dark Chocolate Bar, Lindt Excellence Dark Cocoa Pure, Lindt Excellence Dark Lime Intense Bar, and Lindt Les Grandes Dark Hazelnut Bar.
• Delfi Ltd. - The company offers dark chocolates, namely Delfi Swiss Dark Chocolate Cocoa.
• Ferrero International S.A. - The company offers dark chocolates, namely Ferrero Rondnoir dark chocolate.
• Fuji Oil Holdings Inc. - The company offers dark chocolates, namely Hopkins dark chocolate and Belmar Sugar-Free dark chocolate, through its subsidiary Bloomer Chocolate Co.

The report also covers the following areas:

• Dark chocolate market size
• Dark chocolate market trends
• Dark chocolate market analysis

The health benefits of dark chocolate are driving the market growth. According to various studies, the antioxidants present in dark chocolate protect against disease-causing free radicals. The flavonoids in these chocolates can improve heart health and cognitive performance. Dark chocolate also contains cocoa polyphenols, which control cholesterol levels. In addition, these chocolates contain high amounts of soluble fiber and minerals. Consuming dark chocolate can improve blood circulation and decrease blood pressure. Consumers are becoming aware of the health benefits of dark chocolate. As a result, the demand for these products is increasing. Therefore, the health benefits of dark chocolate are expected to fuel the growth of the market during the forecast period.

The growing influence of online retailing is a key trend in the market. Chocolate makers are expanding their customer base and improving their profit margins through e-commerce. The increasing number of internet users is fueling the popularity of online channels. Online shopping portals offer enhanced product visibility, user-friendly website design, and secure transactions. Therefore, many manufacturers target the internet-savvy customer segment. This business model helps reduce operating and overhead costs. Therefore, the increasing influence of online retail is expected to boost the growth of the market during the forecast period.

The volatility in raw material prices is challenging market growth. Cocoa is the most important ingredient used to make dark chocolates. Other main ingredients include sugar, milk, nuts, and corn sweeteners. However, the prices of these commodities are high. Moreover, the production of cocoa butter is complex and expensive. This leads to low supply, which, in turn, leads to fluctuation in prices. Africa is the largest producer of cocoa globally. However, factors such as civil and political unrest, labor issues, weather conditions, and plant disease impact the supply of raw materials. Therefore, limited cocoa supply and rising prices may impede market growth during the forecast period.

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Dark Chocolate Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist dark chocolate market growth during the next five years
• Estimation of the dark chocolate market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the dark chocolate market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of dark chocolate market vendors

What's new?

• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints - Strong/active/niche/trivial - Buy the report!

Related reports:

The chocolate confectionery market is projected to increase by USD 45.78 million, and the market is estimated to grow at a CAGR of 4.97% between 2022 and 2027. Expansions and promotions by vendors through various strategies are emerging trends. However, fluctuating prices of raw materials are a major challenge impeding market growth.

The chocolate market is projected to increase by USD 45.78 million from 2022 to 2027. The market is estimated to grow at a CAGR of 4.97%. The growing demand for healthier chocolates is an emerging trend in the market. However, unstable cocoa prices and declining per capita consumption are major challenges impeding the market.

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Table of contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global dark chocolate market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global dark chocolate market 2017 - 2021 ($ million)

• 4.2 Type Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.3 Distribution Channel Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Distribution Channel Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Type

• 6.1 Market segments
• Exhibit 30: Chart on Type - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Type - Market share 2022-2027 (%)

• 6.2 Comparison by Type
• Exhibit 32: Chart on Comparison by Type
• Exhibit 33: Data Table on Comparison by Type

• 6.3 Conventional - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Conventional - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Conventional - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Conventional - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Conventional - Year-over-year growth 2022-2027 (%)

• 6.4 Organic - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Organic - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Organic - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Organic - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Organic - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Type 
• Exhibit 42: Market opportunity by Type ($ million)
• Exhibit 43: Data Table on Market opportunity by Type ($ million)

7 Market Segmentation by Distribution Channel

• 7.1 Market segments
• Exhibit 44: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 45: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 7.2 Comparison by Distribution Channel 
• Exhibit 46: Chart on Comparison by Distribution Channel
• Exhibit 47: Data Table on Comparison by Distribution Channel

• 7.3 Offline - Market size and forecast 2022-2027 
• Exhibit 48: Chart on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Data Table on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 7.4 Online - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Distribution Channel 
• Exhibit 56: Market opportunity by Distribution Channel ($ million)
• Exhibit 57: Data Table on Market opportunity by Distribution Channel ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 59: Chart on Market share by geography 2022-2027 (%)
• Exhibit 60: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 61: Chart on Geographic comparison
• Exhibit 62: Data Table on Geographic comparison

• 9.3 Europe - Market size and forecast 2022-2027 
• Exhibit 63: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027 
• Exhibit 67: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027 
• Exhibit 71: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 75: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 79: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 83: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 Germany - Market size and forecast 2022-2027 
• Exhibit 87: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.10 Belgium - Market size and forecast 2022-2027 
• Exhibit 91: Chart on Belgium - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on Belgium - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on Belgium - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Belgium - Year-over-year growth 2022-2027 (%)

• 9.11 France - Market size and forecast 2022-2027 
• Exhibit 95: Chart on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on France - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on France - Year-over-year growth 2022-2027 (%)

• 9.12 UK - Market size and forecast 2022-2027 
• Exhibit 99: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 103: Market opportunity by geography ($ million)
• Exhibit 104: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 105: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 106: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 107: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 108: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 109: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 110: Matrix on vendor position and classification

• 12.3 Chocoladefabriken Lindt and Sprungli AG 
• Exhibit 111: Chocoladefabriken Lindt and Sprungli AG - Overview
• Exhibit 112: Chocoladefabriken Lindt and Sprungli AG - Business segments
• Exhibit 113: Chocoladefabriken Lindt and Sprungli AG - Key news
• Exhibit 114: Chocoladefabriken Lindt and Sprungli AG - Key offerings
• Exhibit 115: Chocoladefabriken Lindt and Sprungli AG - Segment focus

• 12.4 Delfi Ltd.
• Exhibit 116: Delfi Ltd. - Overview
• Exhibit 117: Delfi Ltd. - Business segments
• Exhibit 118: Delfi Ltd. - Key offerings
• Exhibit 119: Delfi Ltd. - Segment focus

• 12.5 Ferrero International S.A. 
• Exhibit 120: Ferrero International S.A. - Overview
• Exhibit 121: Ferrero International S.A. - Product / Service
• Exhibit 122: Ferrero International S.A. - Key news
• Exhibit 123: Ferrero International S.A. - Key offerings

• 12.6 Fuji Oil Holdings Inc. 
• Exhibit 124: Fuji Oil Holdings Inc. - Overview
• Exhibit 125: Fuji Oil Holdings Inc. - Business segments
• Exhibit 126: Fuji Oil Holdings Inc. - Key news
• Exhibit 127: Fuji Oil Holdings Inc. - Key offerings
• Exhibit 128: Fuji Oil Holdings Inc. - Segment focus

• 12.7 Ghirardelli Chocolate Co. 
• Exhibit 129: Ghirardelli Chocolate Co. - Overview
• Exhibit 130: Ghirardelli Chocolate Co. - Product / Service
• Exhibit 131: Ghirardelli Chocolate Co. - Key offerings

• 12.8 Gujarat Cooperative Milk Marketing Federation Ltd. 
• Exhibit 132: Gujarat Cooperative Milk Marketing Federation Ltd. - Overview
• Exhibit 133: Gujarat Cooperative Milk Marketing Federation Ltd. - Product / Service
• Exhibit 134: Gujarat Cooperative Milk Marketing Federation Ltd. - Key offerings

• 12.9 Mars Inc.
• Exhibit 135: Mars Inc. - Overview
• Exhibit 136: Mars Inc. - Product / Service
• Exhibit 137: Mars Inc. - Key news
• Exhibit 138: Mars Inc. - Key offerings

• 12.10 Meiji Holdings Co. Ltd. 
• Exhibit 139: Meiji Holdings Co. Ltd. - Overview
• Exhibit 140: Meiji Holdings Co. Ltd. - Business segments
• Exhibit 141: Meiji Holdings Co. Ltd. - Key news
• Exhibit 142: Meiji Holdings Co. Ltd. - Key offerings
• Exhibit 143: Meiji Holdings Co. Ltd. - Segment focus

• 12.11 Mondelez International Inc. 
• Exhibit 144: Mondelez International Inc. - Overview
• Exhibit 145: Mondelez International Inc. - Business segments
• Exhibit 146: Mondelez International Inc. - Key news
• Exhibit 147: Mondelez International Inc. - Key offerings
• Exhibit 148: Mondelez International Inc. - Segment focus

• 12.12 Nestle SA
• Exhibit 149: Nestle SA - Overview
• Exhibit 150: Nestle SA - Business segments
• Exhibit 151: Nestle SA - Key news
• Exhibit 152: Nestle SA - Key offerings
• Exhibit 153: Nestle SA - Segment focus

• 12.13 Neuhaus NV
• Exhibit 154: Neuhaus NV - Overview
• Exhibit 155: Neuhaus NV - Product / Service
• Exhibit 156: Neuhaus NV - Key offerings

• 12.14 SCHMITTEN
• Exhibit 157: SCHMITTEN - Overview
• Exhibit 158: SCHMITTEN - Product / Service
• Exhibit 159: SCHMITTEN - Key offerings

• 12.15 The Hershey Co.
• Exhibit 160: The Hershey Co. - Overview
• Exhibit 161: The Hershey Co. - Business segments
• Exhibit 162: The Hershey Co. - Key news
• Exhibit 163: The Hershey Co. - Key offerings
• Exhibit 164: The Hershey Co. - Segment focus

• 12.16 Vosges Haut Chocolat Ltd. 
• Exhibit 165: Vosges Haut Chocolat Ltd. - Overview
• Exhibit 166: Vosges Haut Chocolat Ltd. - Product / Service
• Exhibit 167: Vosges Haut Chocolat Ltd. - Key offerings

• 12.17 Yildiz Holding AS
• Exhibit 168: Yildiz Holding AS - Overview
• Exhibit 169: Yildiz Holding AS - Product / Service
• Exhibit 170: Yildiz Holding AS - Key news
• Exhibit 171: Yildiz Holding AS - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 172: Inclusions checklist
• Exhibit 173: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 174: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 175: Research methodology
• Exhibit 176: Validation techniques employed for market sizing
• Exhibit 177: Information sources

• 13.5 List of abbreviations 
• Exhibit 178: List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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 consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 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.

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