drinking chocolate vs beverage

drinking chocolate and beverage both are nouns.

Word	Noun	Adjective	Verb	Adverb
drinking chocolate	Yes	No	No	No
beverage	Yes	No	No	No

As nouns, beverage is a hypernym of drinking chocolate; that is, beverage is a word with a broader meaning than drinking chocolate:

drinking chocolate: a beverage made from cocoa powder and milk and sugar; usually drunk hot
beverage: any liquid suitable for drinking

Other hypernyms of drinking chocolate include drink, drinkable, potable.

drinking chocolate (noun)	beverage (noun)
a beverage made from cocoa powder and milk and sugar; usually drunk hot	any liquid suitable for drinking