Dark chocolate is a chocolate without milk included and has a denser chocolate taste than milk chocolate. The basic ingredients in dark chocolates are cacao beans, sugar, an emulsifier, for example, soy lecithin to safeguard texture, and flavorings, for example, vanilla. Various kinds of dark chocolates contrast from one another by the level of cocoa solids in the bar. Dark chocolate has a rich and extreme flavor, and is a rich source of flavonoids, which add to its color. More the concentration of flavonoids, darker the chocolate.
COVID-19 scenario analysis
The Fine Cacao and Chocolate Institute (FCCI) conducted a poll to understand the impact of COVID-19 on small size businesses who are in making of chocolates. According to the poll, the sales drop and a decrease in customer demand is being witnessed by the companies of this market segment. Also, these businesses are undergoing shortage of supplies and cash flows, which limit their investment. Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap. Thus, insufficiency in raw material supply is expected to hamper the production rate of dark chocolate, which negatively impact the market growth.
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
Medical advantages associated with cocoa-rich dark chocolates, rising interest for premium dark chocolates as gifts, developing digital channels, players launching limited edition seasonal chocolates, and increasing advertising activities are foreseen to drive the growth of the dark chocolate market during the forecast period. Enhanced demand in developing nations is an aftereffect of increasing disposable income and changing dietary patterns. With developing interest for healthy products, the chocolate industry is experiencing a perception crisis.
New product launches to flourish the market
Makers are concentrating on fusing natural sugars, for example, stevia and coconut sugar to position their product to a purchaser base that is profoundly cognizant about the food decisions they make. The articulated spotlight on quality has implied that producers are currently concentrating on including unique cocoa beans from Latin American nations. In spite of the fact that sourcing these superior ingredients from distant spots builds the cost of the finished product, developing interest for gourmet chocolate among customers is providing lucrative opportunities for the market. In the ongoing past, the demand for dried fruits, such as blueberries and cranberries, has seen consistent increase in the preparation of dark chocolate.
Usage and industrial applications
The inescapable wellbeing and health pattern keep on impacting dark chocolate market, with producers incorporating natural ingredient and natural sugars. The inclination for dark chocolate over milk chocolates on account of its medical advantages drives the market growth. Eating dark chocolate shields the mind from age-related pressure and irritation. Besides, it helps in boosting blood course to the cerebrum, which can improve the capacity to focus; improving memory and controlling the anxiety levels.
Key benefits of the report
- This study presents the analytical depiction of the dark chocolate market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the dark chocolate market share.
- The current market is quantitatively analyzed to highlight the global dark chocolate market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global dark chocolate market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the dark chocolate market research report:
- Which are the leading players active in the dark chocolate market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
Dark Chocolate Market Report Highlights
Key Market Players
Alfred Ritter, Blommer Chocolate, Mondelez International, Cémoi, August Storck, Mars, Ferrero Group, Nestle, Brookside Foods, Amul
Chocolate Frey, Crown Confectionery, Ezaki Glico, Hershey's