Sugar-free Chocolate Market
Report ID: SQMIG30I2365
Sugar-free Chocolate Market Size, Share, Growth Analysis, By Product(Milk Chocolate, Dark Chocolate, White Chocolate), By Distribution Channel(Supermarkets & Hypermarkets, Retail Stores, Specialty Stores, Online Stores), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30I2365 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|Tables:
64
|Figures:
75
Sugar-free Chocolate Market Insights
Sugar-free Chocolate Market size was valued at USD 1.14 billion in 2019 and is poised to grow from USD 1.2 billion in 2023 to USD 1.92 billion by 2031, growing at a CAGR of 5.4% in the forecast period (2024-2031).
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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Sugar-free Chocolate Market Segmental Analysis
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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Sugar-free Chocolate Market Regional Insights
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 Dynamics
Sugar-Free Chocolate Market Driver
- Preference for nutritious food products is increasing as consumers switch to better diets, per capita income is increasing, and preferences are changing. Sugar-free chocolates are becoming more popular owing to increase trends in healthy munching, which could increase sales. Companies concentrate on creating products that satisfy client wants. Additionally, sugar-free chocolate is expected to benefit from the product's inclusion in muffins, puddings, cakes, and other baked goods. These elements are probably what fuel the sugar-free chocolate market's expansion.
- People have begun to consume more low-sugar or sugar-free goods, such as sugar-free chocolates, as weight control problems continue to rise globally. Overindulging in sugar and carbohydrates can lead to illnesses including diabetes, cardiovascular disease, and overweight. As a result, people are emphasizing the consumption of sugar-free goods, which is promoting the expansion of the sugar-free chocolate market globally.
Sugar-Free Chocolate Market Restraint
- One of the key components in the creation of chocolate, cocoa, has considerable price volatility, which is a significant inhibitor to the market's expansion. Additionally, the seasonality of cocoa cultivation and harvest, which is impacted by climatic variations like drought, has led to price fluctuations. The market growth of organic sugar-free chocolates has been hampered by their high cost.
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Sugar-free Chocolate Market Competitive Landscape
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
- Hershey Company
- Lindt & Sprüngli AG
- Godiva Chocolatier, Inc.
- Nestle S.A.
- Russell Stover Candies, Inc.
- Mondelēz International
- Lily's Sweets
- ChocoPerfection
- Gnosis Chocolate
- Amber Lyn Chocolates
- Simply Lite
- RoyalChocolates
- Valor Chocolates
- Cavalier Chocolate
- Diablo Sugar Free
- Ross Chocolates
- Coco Polo
- Xylitol USA
- CocoCaravan
- Good Dee's
Sugar-Free Chocolate Market Recent Development
- In April 2022, Yumy Candy Company Inc. declared that it is entering the American market with its lower-sugar, healthier confections by collaborating with the biggest US distribution networks that share the company's guiding principles.
- In March 2022, the company Cocomels stated that it is expanding its well-liked "1g sugar" range and introducing new "1g Sugar" chocolate-covered sea salt and crispy nibbles, each of which has less than 1g of sugar and only 100 calories. The product also doesn't contain any dairy, gluten, corn syrup, cholesterol, artificial additives, sugar alcohols, or palm oil. The brand-new Cocomels nibbles are 60% dark chocolate that has been sweetened with allulose, a natural sugar substitute.
Sugar-free Chocolate Key Market Trends
- Customers’ are increasingly looking for low-calorie, verified, and plant-based items, even when they want to indulge. This is due to changing food consumption habits. Chocolate producers are offering cutting-edge goods that are both delicious and nutritious in response to consumers' increased need for indulgence. Leading companies like The Hershey Company and Nestle S.A. have expanded their product lines to include chocolates that are sugar-free, vegan, organic, and non-GMO confirmed.
Sugar-free Chocolate Market SkyQuest Analysis
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.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 1.14 billion |
| Market size value in 2031 | USD 1.92 billion |
| Growth Rate | 5.4% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| 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) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Sugar-free Chocolate Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Sugar-free Chocolate Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the 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 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.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Sugar-free Chocolate Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Sugar-free Chocolate Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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