Dark chocolate market is anticipated to grow at a CAGR of 7.2% during the forecast period (2023–2030). The growing concern towards the health benefits associated with the food and beverages is the key factor supporting the market across the globe. Dark chocolate is high in antioxidants, and it contains flavanols and polyphenols, that is beneficial to health in a several ways such as it help to lose weight, lower the risk of heart disease and diabetes, improve the brain function, and protect our skin from the sun, among others. Owing to which, the players operating in the market also focusing on developing dark chocolate with various health benefits to stay competitive in the market by fulfilling the unmet requirements of the consumers. For instance, in March 2022, the Functional Chocolate Co. launched a vegan dark chocolate along with a dark chocolate combination of condition-specific nutraceuticals, including vitamins, minerals, botanicals, and amino acids, to assist in addressing a variety of everyday health concerns, such as sleep, energy, stress, and attention.

Segmental Outlook

The dark chocolate market is segmented based on product type, and distribution channel. Based on product type, the market is segmented into sweet dark chocolate, semi-sweet dark chocolates, and extra- dark chocolates. Further, based on distribution channel, the market is sub-segmented into supermarkets and hypermarkets, convenience Stores, non-grocery retailers, online, and others (pharmaceutical stores and confectionary stores, and trade specialty stores). Among the product type, the semi-sweet dark chocolate sub-segment is expected to contribute to the market growth. The growth is attributed to provide the health benefits to consumers such as it contains 100 grammes, semisweet chocolate has an effective oxygen radical absorbance capacity (ORAC) value of 18,053 micromoles. Semisweet chocolate's flavonoids help to protect low-density lipoprotein (LDL) cholesterol from oxidation.

The Online Sub-Segment Is Anticipated to Hold a Prominent Share of the Global Dark Chocolate Market

Among the distribution channel, the online sub-segment is expected to hold a prominent share of the global dark chocolate market owing to the increasing demand for online shopping. The consumers buying perception is changed nowadays, owing to the growing expansion of the internet nowadays, the online sales channel has seen immense development. Furthermore, online retailers such as Amazon and Walmart have included chocolate as a product category into their primary focus area. The increasing dependence of younger generation, and their parents on the internet and e-commerce has bolstered the consumption of chocolate over the past few years. Buying chocolates online offers various benefits, such as a variety of value-added services such as reduced pricing, cash-on-delivery, and paybacks, are expected to fuel the development of the online channel in the coming years.

Regional Outlooks

The global dark chocolate market is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East and Africa, and Latin America). Among these, the Asia-Pacific region is anticipated to grow at a significant rate over the forecast period, owing to hanging consumer preferences, rising income levels driving premium chocolates consumption in India. Premium chocolates account for approximately 30% of the chocolates category in India and are currently over-indexed to metros.

Global Dark Chocolate Market Growth, by Region, 2023-2030

The European Region is Expected to Hold a Prominent Share of the Global Dark Chocolate Market

The European region is expected to hold a prominent share in the dark chocolate market, owing to the increasing demand for the consumption of dark chocolate in the region. According to the CBI, Ministry of Foreign Affairs, Germany is among the globe's largest chocolate consumers, with an annual per capita consumption of 11 kg. Switzerland comes in second with 9.7 kg per capita, followed by Estonia with 8.8 kg. Furthermore, as per the source, the average per capita chocolate consumption of European region is estimated to be 5.0 kg. Several chocolate manufacturers are actively operating across Europe, each working with a different cocoa quality.. According to Prodcom Data, European Commission (EC), the European union (eu) produced an estimated 3.6 million tonnes of final chocolate products in 2020, not including industrial chocolate. Furthermore, Europe is also the globe's largest chocolate exporter. In 2021, Europe accounted for about 76% of global chocolate sales value. Germany is the globe largest exporter of chocolate, with a global market share in value of 16%, followed by Belgium (11%), Italy (7.6%), Poland (7.2%) and the Netherlands (6.5%). 

Market players' outlook

The major companies serving the global dark chocolate market include Alfred Ritter GmbH & Co. KG, Amano Artisan Chocolate, Blommer Chocolate Co., Chocoladefabriken Lindt & Sprüngli AG, Divine Chocolate, and others. The market players are considerably contributing to market growth through the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in February 2023, Mars Wrigley India launched Galaxy Fusions dark chocolate made up of 70% cocoa in India. The company has also established its manufacturing plant in India for improving its local production with less cost.

The report covers

• Market value data analysis for 2022 and forecast to 2030
• Annualised market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions
• Key companies operating in the global dark chocolate market Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market entry and market expansion strategies.