Ferrero International, Nestlé, Mondelez International, Inc., Amul, Ritter Sport, and The Hershey Company, among others, are the major players in the global dark chocolate market.
The global dark chocolate market is expected to grow at a CAGR of 7% over the forecast period of 2022-2027. As per the analysis of Expert Market Research, the market is being fuelled by the growing health consciousness.
The rising awareness regarding the nutritional benefits of dark chocolate is driving its demand in the food and beverages sector. With the growing health consciousness and the rising preference for low-sugar confectioneries, the consumption of dark chocolate is increasing. In addition, growing sales of premium chocolate in both developing and developed countries are positively influencing the market growth of dark chocolate.
The emerging health and wellness trend is prompting major chocolate manufacturers to incorporate energy-specific ingredients such as coffee, guarana, and protein in dark chocolate bars for boosting their flavour and nutrition profile. Moreover, the rising demand for organic, vegan, and gluten-free products is bolstering the preference for dark chocolates containing natural sweeteners and organic ingredients as an alternative to milk and sugar-based chocolates.
In July 2019, Nestle announced the creation of 70% dark chocolate made from pulp and beans of cocoa fruit. The natural approach adopted by the company does not compromise the quality, texture, and flavour of dark chocolates. The company planned to initially introduce the product in Japan in Q3 2019 before launching it in other countries.
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Ferrero International is a leading manufacturer of confectionery products and branded chocolate, based in Italy. The company has a strong global presence with more than 170 countries in its international network. As of August 2020, the company had 37,122 employees. With 32 manufacturing plants and 107 companies, the company closed FY 2021 with a consolidated turnover of EUR 12.7 billion. Some of its flagship products include Tic Tac, Ferrero Rocher, Nutella, and Kinder, among others.
Nestle is one of the largest food and beverage companies in the world. Some of its leading categories include pet care, liquid and powdered beverages, confectionery, milk products and ice cream, cooking aids and prepared dishes, health science and nutrition, and water. With footprints in 186 countries across the globe, the company aims to boost the quality of life of its consumers. With 276,000 employees and 354 factories in 79 countries, the company generated sales of CHF 87.1 billion in 2021.
|Headquarters:||Illinois, United States|
Mondelez is one of the largest snack companies in the world, based in the United States. Its products, such as chocolate, biscuits, powdered beverages, and cheeses, among others, are marketed and sold across 150 countries worldwide. With operations in over 80 countries, the company employs nearly 80,000 people in R&D facilities, factories, distribution activities, and offices across the globe. In 2021, it attained net earnings of USD 4.3 billion and generated net revenue of USD 28.7 billion.
Amul is a prominent Indian dairy company that is marketed by the Gujarat Cooperative Milk Marketing Federation (GCMMF). It produces milk, cheese, spreads, paneer, curd, cream, milk powders, ice cream, chocolates and other bakery products and beverages. Under chocolates, it offers various kinds of dark chocolates like classic dark chocolates and premium dark chocolates, among others. In FY 2019-2020, the company registered a turnover of INR 38,542 crores.
Ritter Sport is a strong, medium-sized, family-owned private chocolate company. It specialises in producing chocolates and confectionery products. Ritter Sport sources 100% exclusively certified sustainable cocoa for its entire assortment. With a presence in more than 100 countries, the company boasts of an employee base of 1650. In 2020, it generated EUR 470 million in sales.
|Headquarters:||Pennsylvania, United States|
The Hershey Company is an American snack company. It has a dynamic workforce of nearly 19,000 employees and its products are sold in about 80 countries across the world. With over 100 brands, the company offers various products like mints, sweets, chocolate, and snacks. Some of its iconic brands include Kit Kat®, Pirate's Booty, Hershey's, and Ice Breakers, among others. In 2021, its revenue exceeded USD 8.9 billion.
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