Dark Chocolate Market in US by Product and Distribution Channel - Forecast and Analysis 2020-2024

The dark chocolate market in the US share is expected to increase by USD 3.67 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 6.75%.

This dark chocolate market in the US research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the dark chocolate market in US segmentation by product (inorganic dark chocolate and organic dark chocolate), Distribution channel (offline distribution and online distribution), and geography (US and Rest of North America). The dark chocolate market in US report also offers information on several market vendors, including Alter Eco Americas Inc., Chocoladefabriken Lindt & Sprungli AG, Ferrero International SA, Godiva Chocolatier Inc., Guittard Chocolate Co., Mars Inc., Mondelez International Inc., Nestle SA, The Hershey Co., and Vosges Haut-Chocolat Ltd. among others.

What will the Dark Chocolate Market In US Size be During the Forecast Period?

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Dark Chocolate Market In US: Key Drivers, Trends, and Challenges

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The health benefits of dark chocolate are notably driving the dark chocolate market in US growth, although factors such as volatility in raw material prices may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the dark chocolate market in the US industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Dark Chocolate Market In US Driver

Health benefits associated with dark chocolate are a major driver fueling the dark chocolate market growth in the US. As per various researches, the high antioxidant content in dark chocolate helps in providing protection against disease-causing free radicals, while flavonoids present in these chocolates help in cancer prevention and improve heart health and cognitive ability. According to various studies, cocoa polyphenols in dark chocolate help in controlling cholesterol, while some studies validate that the antioxidant capacity of dark chocolate is higher than many superfoods. A decent quantity of soluble fiber and minerals exist in such chocolates. Dietary chocolate is also considered a powerful source of antioxidants. Antioxidants help in revoking cell damage and also help our body to fight against fatal diseases effectively. Cocoa-rich dark chocolates carry high amounts of antioxidants and polyphenols. Dark chocolate consumption is beneficial for improving blood flow and lowering blood pressure. In addition, dark chocolate increases high-density lipoproteins and lowers low-density lipoproteins. Since consumers in the US are more informed about the health benefits of dark chocolate and the overall demand for packaged products is high, they are increasingly getting inclined toward this chocolate type.

Key Dark Chocolate Market In US Trend

The trend for gourmet, artisanal, vegan, and gluten-free dark chocolate in the US is another influencer of dark chocolate market growth in the US.  A vegan diet is part of the larger vegan lifestyle. It strongly favors animal rights and is a concern for the environment. Currently, many consumers in the US have started following a vegan lifestyle, and they stay away from products of animal origin and opt for healthy substitutes of meat, dairy, and other traditional sources of protein. These consumers perceive a vegan diet to be healthier than a meat-based diet. In 2020, various research studies showed that about 9.6 million Americans, that is, almost 3.5% of the US population, followed a vegan diet and lifestyle. Vendors such as THEO CHOCOLATE, Nibmor, and ALTER ECO currently manufacture vegan dark chocolate varieties in the US. It is expected that the overall demand for vegan dark chocolates would increase during the forecast period, thereby increasing the overall sales of dark chocolate in the country.

Key Dark Chocolate Market In US Challenge

Volatility in raw material prices is a major hindrance to the dark chocolate market growth in the US. It sets the prices based on demand and supply, resulting in varying prices of commodities at different periods. The biggest price factor is the cost of cocoa. Dietary chocolate makers produce chocolate using two components of cocoa, cocoa powder, and cocoa butter. Cocoa butter is by far the most desirable of both as it provides richness to the products and is used in thin chocolate confectionery. The production of cocoa butter is complex and expensive. Thus, any disruption in the supply of cocoa eventually results in fluctuating prices of dietary chocolates. Africa, primarily the Ivory Coast and Ghana, is the world's largest producer of cocoa, supplying more than two-thirds of the world's cocoa. Supply fluctuations are the result of several factors, including civil and political unrest, labor issues, and the effect of weather, diseases, and pests on crop yields. For instance, longer periods of dry weather are not beneficial for cocoa bean growth and may lead to a shortage in the supply of cocoa beans. Some other issues also prove to be fatal for the supply of raw materials for chocolate manufacturing. Child labor is also prevalent in the cocoa industry. Movements to minimize this illegal and unethical cheap labor will result in either lower production or higher prices of cocoa, as farmers must pay higher wages to adult workers. The limited supply of cocoa, coupled with the rise in the price of cocoa, will hinder the growth of the market. It will also affect the prices of raw materials, thereby posing a challenge to the growth of the market focus.

This dark chocolate market in the US analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the dark chocolate market in the US as a part of the global packaged foods and meats market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the dark chocolate market in the US during the forecast period.

Who are the Major Dark Chocolate Market In US Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Alter Eco Americas Inc.
• Chocoladefabriken Lindt & Sprungli AG
• Ferrero International SA
• Godiva Chocolatier Inc.
• Guittard Chocolate Co.
• Mars Inc.
• Mondelez International Inc.
• Nestle SA
• The Hershey Co.
• Vosges Haut-Chocolat Ltd.

 

This statistical study of the dark chocolate market in US encompasses successful business strategies deployed by the key vendors. The dark chocolate market in US is fragmented and the vendors are deploying growth strategies such as product innovation to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The dark chocolate market in US forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Dark Chocolate Market In US Value Chain Analysis

Our report provides extensive information on the value chain analysis for the dark chocolate market in US, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of global packaged foods and meats market includes the following core components:

• Inputs
• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Service
• Support activities
• Innovation

The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

 

Which are the Key Regions for Dark Chocolate Market In the US?

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96% of the market's growth will originate from US during the forecast period. Market growth in this region will be faster than the growth of the market in regions.

Increasing popularity among consumers belonging to all demographic segments in the country will facilitate the dark chocolate market in US growth in US over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Product Segments in the Dark Chocolate Market In US?

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The dark chocolate market in US shares growth by the inorganic dark chocolate segment will be significant during the forecast period. Inorganic dark chocolate is popular among consumers belonging to all demographic segments in the country because it is affordable compared to organic dark chocolates. Also, vendors are currently manufacturing premium and seasonal inorganic dark chocolates to attract consumers. In addition to this, many vendors are launching new varieties of inorganic dark chocolates in the form of truffles, bars, and assortments with natural ingredients. The overall demand for inorganic dark chocolates is expected to grow during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the dark chocolate market in US size and actionable market insights on post COVID-19 impact on each segment.

 

Dark Chocolate Market In US Scope
Report Coverage	Details
Page number	120
Base year	2020
Forecast period	2021-2025
Growth momentum & CAGR	Accelerate at a CAGR of 6.75%
Market growth 2021-2025	$ 3.67 billion
Market structure	Fragmented
YoY growth (%)	6.50
Regional analysis	US and Rest of North America
Performing market contribution	US at 96%
Key consumer countries	US and Rest of North America
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Alter Eco Americas Inc., Chocoladefabriken Lindt & Sprungli AG, Ferrero International SA, Godiva Chocolatier Inc., Guittard Chocolate Co., Mars Inc., Mondelez International Inc., Nestle SA, The Hershey Co., and Vosges Haut-Chocolat Ltd.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Dark Chocolate Market In US In Regional Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive dark chocolate market in US growth during the next five years
• Precise estimation of the dark chocolate market in US size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the dark chocolate market in US industry across US and Rest of North America
• A thorough 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 in US vendors

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