Report ID: SQSG30I2060 | Region: Global | Published Date: April, 2023 | Pages: 157 | Tables: 146 | Figures: 78Global Apple Juice Market
Report ID: SQMIG30I2096 | Region: Global | Published Date: April, 2023 | Pages: 165 | Tables: 64 | Figures: 75
Global Sugar-free Chocolate Market size was valued at USD 1.14 billion in 2021 and is poised to grow from USD 1.2 billion in 2022 to USD 1.92 billion by 2030, growing at a CAGR of 5.4% in the forecast period (2023-2030).
The global trend of consuming GMO-free, sugar-free, and fat-free food originated in western countries. These days, people are attempting to lessen the quantity of sugar in their foods due to the increased prevalence of various ailments. Among several other things, high consumption of sugar-based foods causes diabetes, strokes, obesity, mood swings, dental decay, and CVDs. As a result, the market for sugar-free chocolate is increasing all over the world.
Since sugar-free chocolate is a confectionary item, it has all the same constituents as regular chocolate, with the exception of the sweetener. The majority of sugar-free chocolate is made with sweeteners that don't affect blood sugar levels, like fruit concentrates, agave nectar, stevia, and maltitol. As a result, the appetite for sugar-free chocolate is increasing among people with diabetes and is expected to continue to do so in the years to come.
US Sugar Free Chocolate Market is poised to grow at a sustainable CAGR for the next forecast year.
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The global sugar-free chocolate market segmentation is based on product, distribution channel, and region. Based on product the Sugar-Free Chocolate Market is segmented into milk chocolate, dark chocolate and white chocolate. Based on distribution channel the Sugar-Free Chocolate Market is segmented into supermarkets & hypermarkets, retail stores, specialty stores and online stores. Based on region the global sugar-free chocolate market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
Sugar-Free Chocolate Market Analysis by Product
In 2021, owing to its increasing consumption and appeal for factors including flavor, texture, and mouthfeel, sugar-free milk chocolate is expected to hold a sizable portion of the market. In order to improve its nutritional qualities and propel the milk chocolate market, sugar-free milk chocolate is increasingly being used in the production of different beverages and confectionery products, including cakes, shakes, croissants, and hot chocolate.
As dark chocolate has greater nutritional content than other types, it is expected to experience substantial growth by 2028. Additionally, the higher quantities of cocoa butter and powder in dark chocolate have been shown to improve cognitive function and are effective anti-depressants due to their capacity to raise serotonin levels.
Sugar-Free Chocolate Market Analysis by Distribution Channel
In 2021, the largest distribution channels for buying sugar-free chocolates are hypermarkets and supermarkets, which are followed by retail stores. Customers can choose from a variety of products available in the market and price ranges thanks to the mass merchandisers. Additionally, they allow the ease of shopping for goods all under one roof, as well as product-specific shelves, product information boards, numerous offers, bundling schemes, and bundling discounts. The popularity of retail stores is also growing as a result of their accessibility, convenience, and wide range of available products.
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In 2021, the North American region accounted for the highest market share of sugar-free chocolate. The enormous base of the health-conscious community in North American nations like the US and Canada is predicted to give the region of North America a significant share in the worldwide sugar-free chocolate market. Due to the increased US chocolate intake, the US is predicted to hold a dominant market share in North America for sugar-free chocolate. The country's increased use of chocolate is expected to result from rising obesity. The demand for locally made, premium chocolates is expected to stimulate Canada's economy. Additionally, holidays like Xmas, Halloween, Easter, and others are likely to increase the popularity of sugar-free chocolate.
Due to its rapid urbanisation and customers' willingness to spend higher costs for these kind of products, the Asia Pacific region is expected to be the fastest-growing market for sugar-free chocolate. Due to the labor availability that is driving the sugar-free chocolate sector, numerous players are also setting up manufacturing facilities in potential markets like China and India.
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Sugar-Free Chocolate Market Driver
Sugar-Free Chocolate Market Restraint
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Leading firms in the sugar-free chocolate market release innovative goods to draw customers and strengthen their market position. Additionally, by using r&d, producers may be able to create novel chocolates with tastes that will catch customers' interest and enhance their brand reputation. For instance, in June 2021, the Lindt & Sprungli AG-owned company Russell Stover Chocolates announced the launch of its Joy Bites chocolate bars. It is sugar-free chocolate that uses Fairtrade cocoa and stevia extract for sweetness.
Top Players in the Global Sugar-free Chocolate Market
Sugar-Free Chocolate Market Recent Development
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, sugar-free milk chocolate is expected to hold a large percentage of the market in 2021 as a result of its rising consumption and attractiveness for qualities like flavor, texture, and mouthfeel. The most popular places to purchase sugar-free chocolates in 2021 will be hypermarkets and supermarkets, followed by retail outlets. It is expected that North America would account for a sizeable portion of the global market for sugar-free chocolate due to the sizeable population of health-conscious people in countries like the US and Canada.
|Market size value in 2021||USD 1.14 billion|
|Market size value in 2030||USD 1.2 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Sugar-free Chocolate Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Sugar-free Chocolate Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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