According to the latest report by IMARC Group, titled "Dark Chocolate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the global dark chocolate market size reached US$ 48.4 Billion in 2019, growing at a CAGR of 7.6% during 2014-2019. Dark chocolate refers to a type of chocolate that contains a high percentage of cocoa solids. Some of the other ingredients used in its preparation include sugar, flavorings and emulsifiers. It has a richer and more intense flavor as compared to milk chocolates. It is an excellent source of flavonoids and antioxidants while also being a rich source of other essential nutrients, including iron, zinc, copper, phosphorus, manganese, selenium, magnesium and potassium. As a result, it is widely utilized as a key ingredient in the preparation of a vast array of food products, such as chocolate bars, candies, baked goods and beverages.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Dark Chocolate Market Trends:
The market is primarily driven by the growing consumption of packaged food items and baked goods across the globe. This can be attributed to the hectic lifestyles of the majority of consumers, changing dietary preferences and inflating per capita income levels, which, in turn, have led to increasing demand for convenience foods. Apart from this, the growing awareness among individuals regarding the health benefits and stress-relieving ability of dark chocolate has also facilitated its uptake on the global level. The consumption of the chocolate plays a crucial role in several neurodegenerative disorders, such as Alzheimer’s disease, as they aid in boosting the blood circulation to the brain. They are also considered helpful in improving memory, enhancing the ability to focus and controlling anxiety levels. Furthermore, the significant expansion of the online retailing and e-commerce sector on the global level is creating a positive outlook for the market. The increasing sales of dark chocolate through online portals have aided the manufacturers to expand their consumer-base, thereby improving their profit margins. This, coupled with the introduction of flavored product variants, such as orange, cranberry and coffee, is providing an impetus to the market growth. On account of the aforementioned factors, the market is expected to exhibit moderate growth during the forecast period (2020-2025).
- On the basis of the distribution channel, the market has been divided into supermarkets and hypermarkets, convenience stores, non-grocery retailers and others.
- On the geographical front, Western Europe holds the leading position in the market, accounting for the majority of the total market share. Some of the other key regions include North America, Eastern Europe, Asia, Latin America, Middle East and Africa, and Australasia.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players.
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