The uptick in diabetes cases is foreseen to spur the global demand for the sugar-free chocolate market. The food, beverages & nutrition reports are made by Market Research Future, which includes market options for expansion. An income level of USD 542 million in the forecast period by 2027. The changing lifestyle of people due to the nutritional value of foods without sugar has increased the Sugar-Free Chocolate Market size.
Diabetes has turned into a global health challenge, with escalating number of people suffering from extremely high blood sugar. Some of the key causes of diabetes include unhealthy diet, rising consumption of oily or junk food and following a hectic lifestyle. The mounting concerns regarding diabetes, growing healthcare costs and the health benefits offered by sugar-free chocolates has been favourable for the global market. The surge in health consciousness among consumers and the increasing need to cater to their sweet tooth encourage them to opt for sugar free chocolates. Even the individuals focused on maintaining their weight or interested in losing weight account for a large portion of the consumer base.
Segmental Analysis
The segmental appraisal of the sugar-free chocolate market has been segmented on the basis of category, main ingredient, type, distribution channel, and region. Based on the regions, the sugar-free chocolate market has been segmented into Europe, North America, Asia Pacific, and other crucial regions. On the basis of the main ingredients, the sugar-free chocolate has been segmented into fat & oil, sugar substitute, cocoa butter, cocoa beans, cocoa liquor, and others. On the basis of by category, the sugar-free chocolate industry is segmented into no added sugar and 100% sugar-free. Based on the type, the sugar-free chocolate market comprises of milk, dark and white. On the basis of the distribution channel, the sugar-free chocolate market comprises of store-based and non-store based.
Regional Insight
Europe, Asia Pacific/APAC, North America, as well as RoW/rest of the world are the primary markets for sugar-free chocolates.
Europe should retain its leading position throughout the analysis period and will manage to capture a strong growth rate of 6.81% between 2020 and 2027. A highly favorable aspect can be the significant consumer awareness regarding different options available in the market. the strong gains of the European market are also due to the high health consciousness among the people and the general focus on well-being. The desire to maintain the link between health as well as craving for confectionaries also prompt the consumers to opt for sugar-free chocolates. The massive pool of renowned vendors offering extensive ranges of sugar-free confectionaries in the region should elevate the market position in the years to come.
Asia Pacific is progressing steadily and will soon procure the fastest growth rate of 6.97% in the coming years, with great support from developing countries like China, Japan, and India. These countries are viewed as the prime hubs for many of the international players, given the surging popularity of cocoa as well as cocoa flavored items among consumers. Improving economic standards and the high interest in trying new food items will also foster the market expansion in the region.
Competitive Analysis
The enhanced delivery channels are anticipated to generate a novel level in the market by shortening lead times. This is likely to impact the long-term progress of the global market in the future. The technological evolution in the market is estimated to promote evolution options in the forecast period further. The market is appraised to return to normal realistically in the upcoming months, with market front runners controlling the transformation charge. The market conditions are assessed to be austere at first but are predicted to recover in the forthcoming years. The advances being generated in the market can encapsulate a large part of the market in the span of the forecast period. The emergence of significant trends in this period is likely to define the global market's augmentation in the upcoming period. The policies established in the different regional markets are projected to spur the market in the approaching period.
The important companies outlined in the sugar-free chocolate market are Godiva Chocolatier (U.S.), Ghirardelli Chocolate Company (U.S.), Lindt & Sprüngli (France), Russell stover (U.S.), Hershey (U.S.), Thin (U.S.), and Guilin (Belgium) to name a few.
