Global Sugar-Free Chocolate Market Ongoing Trends, Growth Factors, Negative Factors, Opportunities, Untapped Markets, Strategies and Developments, Product Segments, and Forecast 2019 – 2028
MarketResearch.biz offers an in-depth analysis in its upcoming market report titled, “Global Sugar-Free Chocolate Market Size, Trends, Scope of Application, Insights, Growth Rate, and Forecast to 2028”. The global sugar-free chocolate market is projected to register a significant CAGR of X % in terms of revenue over the 10-year forecast period. The report includes in-depth information regarding revenue, revenue shares, and other crucial information about the global sugar-free chocolate market. The report provides detailed company profiles of major players in the target market, financials, technological innovations, recent key developments, and launches, along with future strategies, joint ventures, acquisitions & mergers, and competitive landscape. The global sugar-free chocolate market has been categorized on the basis of ingredient, type, distribution channel, and region & country.
Sugar-Free Chocolate: Overview
Chocolate is made using cocoa, mixed with cocoa butter and sugar or sugar substitutes. Sugar or alternatives are added to reduce the strong bitter and astringent taste of cocoa and to enhance the flavor of chocolates. Traditional chocolates contain approximately 30–50% of sugars, that gives sweet taste to the chocolates, and allowing aromatic flavors of cacao beans to provide essential taste while making high-quality chocolate.
Driving and Threatening Factors and Impact on Growth of the Market
Healthy food or superfoods continue to gain popularity and is significantly impacting on consumer lifestyles, taste, preferences and purchasing habits. Rising popularity towards alternative sweeteners and rising awareness regarding benefits of natural alternative sweeteners such as stevia, erythritol, and maltitol is expected to drive growth of the global sugar-free chocolate market. Moreover, growing demand for low-calorie and sugar-free foods from individuals engaged in workout or other physical activities is another major factor that is motivating the manufacturers in the target market to develop and manufacture innovative products with enhanced taste and nutritional value. Rising availability of low-calorie naturally derived sweeteners and rising awareness about their benefits are factors expected to have a positive impact on growth of the global sugar-free chocolate market.
The world’s leading health authorities including World Health Organization (WHO), the US Dietary Guidelines Advisory Committee, and the UK Scientific Advisory Committee on Nutrition, have recommended that people should limit the intake of sugars. Growing initiatives by such organizations, coupled with rising number of chocolate companies that are focusing on introducing chocolates with high nutritional value and low or no sugar content such as organic, vegan, sugar-free, and gluten-free chocolates in order to cater to health-conscious consumers are some of the other key factors expected to support growth of the market to a significant extent.
Rising disposable income with improving economic conditions is driving demand for sugar-free chocolates, globally. Trending demand for the natural and chemical-free pure form of chocolates is expected to gain traction. The aforementioned factors are expected to support growth of the global market to a certain extent.
However, declining production of cocoa owing to diminishing cocoa plants are major factors that could be a threat to the industry and its growth prospects. In addition, unfavorable weather conditions and high cost of raw materials or ingredients to manufacture sugar-free chocolates are other key restraining factors resulting in declining production capacity of chocolates in various countries.
Currently, North America market is dominating in the target market and is anticipated to continue dominating through the 10-year forecast period. The market in Europe is expected to account for notable share in terms of value, due to high demand for nutritional food, coupled with rising demand for chocolates for festive season and special occasions. The Asia Pacific market is anticipated to register noteworthy CAGR over the next 10 years, attributable to increasing spending capacity, combined with rising awareness regarding health benefits of sugar-free chocolates.
Global Sugar-Free Chocolate Market Segmentation:
Segmentation on the basis of Ingredient:
- Cocoa beans
- Sugar Substitute
- Cocoa butter
- fat & oil
- Cocoa liquor (sorbitol, xylitol, mannitol, and isomalt)
Segmentation on the basis of Type:
Segmentation on the basis of Distribution Channel:
- Non-Store Based
- Store Based
Segmentation on the basis of Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- The Hershey Company
- Godiva Chocolatier
- Chocoladefabriken Lindt & Sprüngli AG
- Russell Stover Candies, Inc.
- thinkThin LLC
- Guilin chocolates
- Ghirardelli Chocolate Company
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