DARK CHOCOLATE MARKET ANALYSIS

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2. DARK CHOCOLATE MARKET ANALYSIS • Dark Chocolate Market - by Product Type (Conventional and Organic), by Application (Food & Beverages, Beauty & Personal Care Products, and Pharmaceuticals), by Distribution Channels (Hypermarkets & Supermarkets, Specialty Stores, Online Stores, and Others (Departmental Stores, Convenience Stores, and others)), and By Region (North America, South America, Europe, Asia Pacific, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis 2019 – 2027

3. Dark chocolate is a bitter, brown comfort food prepared from cocoa beans in the form of block, liquid, or paste. Dark chocolate is used as a flavoring ingredient in several foodstuffs such as chocolate brownies, cakes, chocolate cookies, bars, and candies. The main ingredient in dark chocolate is cocoa that provides phytochemicals (an antioxidant). Various health benefits offered by dark chocolate such as high content of phytochemicals in dark chocolates are expected to drive growth of the market over the forecast period.Market Dynamics:Chocolates contain antioxidants called flavonoids, most notably epicatechin, catechin, and procyanidins. High intake of foods with flavonoids such as cocoa, is associated with reduced risk of death caused by heart disease. For instance, according to the U.S. Department of Agriculture's nutrient database, a standard bar of dark chocolate with 70% to 85% percent cacao contains around 600 calories and 24 grams of sugar. Moreover, dark chocolates help in improving the blood flow coupled with lowering the blood pressure.Cocoa powder in dark chocolate helps in increasing the HDL and lowering down the LDL cholesterol. According to the National Center for Biotechnology Information (NCBI), cocoa chocolate has cancer protective properties coupled with its strong antioxidant effects.However, dark chocolate consist of caffeine, which causes dehydration which affects our digestion system. Further, it can also increase the risk of kidney stone, due to the presence of oxalates in dark chocolate. This is expected to hamper the growth of the dark chocolate market during the forecast period.

4. Market Outlook: • Dark chocolates attracts an enormous health conscious customer base owing to the presence of antioxidants. Moreover, dark chocolate is largely sold over milk chocolate during occasions and festivals such as Valentine’s Day, Easter, Halloween, Christmas, weddings, birthdays, anniversaries, mother’s day, and others. • Increasing sale of dark chocolate during festive season is therefore driving demand for dark chocolate globally. Moreover, dark chocolate is preferred over other confectionary items due to its varied health benefits • Various product developments in case of major players are expected to drive growth of the dark chocolate market over the forecast period. For instance, Nestle S.A. is focused on expanding its product offerings in India by introducing dips and dark chocolates. In 2018, Nestle S.A. introduced Les Recettes De L’Atelier- a premium chocolate in India. This product launch is expected to increase the company’s customer base in India.

5. Key players: • Key players operating in the global dark chocolate market include Mars Inc., The Hershey Company, Nestlé S.A., Godiva, Amul, Lindt & Sprüngli AG, Ghirardelli Chocolate Co., Patchi, Harry & David Holdings, Inc., and Mondelez International. • Market Taxonomy: • On the basis of product type, the global dark chocolate market is segmented into: • Conventional • Organic • On the basis of application, the global dark chocolate market is segmented into: • Food & Beverages • Beauty & Personal Care Products • Pharmaceuticals

6. On the basis of distribution channels, the global dark chocolate market is segmented into: • Hypermarkets & Supermarkets • Specialty Stores • Online Stores • Others (Departmental Stores, Convenience Stores, and others) • On the basis of region, the global dark chocolate market is segmented into: • North America • U.S. • Canada • Mexico • South America • Brazil • Argentina • Rest of South America

7. Europe • U.K. • Germany • Italy • France • Spain • Russia • Rest of Europe • Asia Pacific • China • India

8. Japan • South Korea • ASEAN • Australia • Rest of Asia Pacific • Middle East & Africa • Middle East • Africa

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