Global Sugar-free Chocolate Market

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 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 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).

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. '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'

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.

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.

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.

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Global Sugar-free Chocolate Market

Report ID: SQMIG30I2365

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