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Sugar-Free Chocolate Market Size to Hit USD 1.92 Billion by 2030 at 5.4% CAGR - Report by Market Research Future (MRFR)

Sugar-Free Chocolate Market Information Trends and Insights by Category (100% Sugar Free, No Added Sugar), by Main Ingredients (Cocoa beans, Sugar Substitute, Cocoa butter, fat & oil, Cocoa liquor and others), by Type (Dark, Milk, White), Distribution Channel (Non-Store Based, Store Based) and by Region - Competitive Market Growth, Size, Share and Forecast to 2030

/EIN News/ -- New York, US, Jan. 25, 2023 (GLOBE NEWSWIRE) -- Sugar-Free Chocolate Market overview:

According to a Comprehensive Research Report by Market Research Future (MRFR), Sugar-Free Chocolate Market Information by Category, by Main Ingredients, by Type, Distribution Channel and by Region - Forecast to 2030, the market size is anticipated to reach USD 1.92 Billion by 2030, registering a CAGR of 5.4% during 2022-2030.

Market Scope:

Sugar-Free Chocolate Market consists of cocoa powder, Cocoa butter, and sugar. Sweetening alternatives to sugar are sometimes employed to create a chewy candy. There is a wide variety of chocolates, and they are all categorized according to the percentage of Cocoa they contain. According to laws, the chocolate's ingredients must be plainly labeled. 

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Report Scope:

Report Attribute Details
Market Size in 2030 USD 1.92 Billion
CAGR 5.4%
Base Year 2021
Forecast Period 2022-2030
Historical Data 2020
Forecast Units Value (USD billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered by Category, by Main Ingredients, by Type, Distribution Channel and by region
Geographies Covered North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Market Drivers Increasing Demand For Sugar Free Convenience Food
Premium Chocolate Bars, And Innovative Chocolate Products That Use Combinations Of Premium Or Healthy Ingredients

Competitive Dynamics:

The major key players in the Sugar-Free Chocolate Market are:

  • Hershey (U.S.),
  • Godiva Chocolatier (U.S.),
  • Lindt & Sprüngli (France),
  • Russell Stover (U.S.),
  • Ghirardelli Chocolate Company (U.S.),
  • Thin (U.S.),
  • Guilin (Belgium)

Market USP:

Market Drivers

The rising need for sugar-free alternatives is one factor propelling growth in the Sugar-Free Chocolate Market. The growing need for nutritious and delicious food is changing consumers' diets, shopping habits, and preferences. The market for dietary chocolate products is growing because of the increasing demand for sugar substitutes and the growing public knowledge of the health benefits of sugar substitutes like stevia, maltitol, and erythritol.

Another factor propelling the dietary chocolate products market is the rising demand for sugar free and low-calorie foods among consumers partaking in exercise and other forms of physical activity. Plus, it's encouraging factories to crank out even more of these goods. There is a growing market for sugar-free foods and beverages as health issues including diabetes, obesity, and cardiovascular disease become more prevalent among the general population.

The World Health Organization and the Advisory Committee on Dietary Guidelines for Americans have both recommended cutting back on sugar. Growing initiatives by such huge organizations and a rising number of chocolate companies are focused on providing sugar free goods is another factor driving the Sugar-Free Chocolate Market. The global demand for sugar-free chocolates is being driven by the improving economic conditions of people with higher per capita income.

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Market Restraints

The decreasing cocoa production is a major limiting factor in the sugar-free chocolate market. Deficiencies in cocoa plantations pose a serious risk to the sugar-free chocolate market. However, the creation of sugar-free chocolate has been hampered by the high price of raw materials or the ingredients required to make it. The Sugar-Free Chocolate Market has been hit hard by adverse weather in the past.

COVID-19 Analysis:

The coronavirus spread to nearly every country on Earth. To combat the spread of the coronavirus, governments worldwide have instituted lockdown and social isolation policies. The global spread of the virus has created a serious dilemma for commercial enterprises. Companies everywhere are feeling the effects of the CoVD19 pandemic. Businesses suffered the most from lockdown and social isolation policies. As a result of the shutdown, the sugar-free chocolate market was also hit by the covid-19 epidemic. Other factors that contributed to the development of sugar-free chocolate included a shortage of workers and strict social isolation requirements.

People began eating more healthfully and spending more time indoors as a result of the pandemic. As a result, there was a lot less interest in sugar-free chocolate treats. The economic downturn also played a role in reducing the size of the sugar-free market. However, as people become more conscious in the wake of the Post covid-19 crisis, the demand for healthier products would rise. Due to the reduced health hazards, products including sugar-free confectionery, gluten-free chocolate cake, gluten-free sugar-free chocolate chip cookies, and sugar-free chocolate syrup are expected to see significant growth in demand.

The production of sugar-free chocolate requires a large financial outlay due to the high cost of the raw materials used in the process. Due to this, sugar-free chocolate production has been neglected by manufacturers. The difficulty of sourcing all the necessary ingredients and making the substantial financial commitment required to produce sugar-free chocolate in less developed regions has become a hurdle for the Sugar-Free Chocolate Industry.

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Market Segmentation:

By Category

The sector of the sugar-free chocolate market with the largest share is the one in which all sugar has been removed.

By Ingredients

During the anticipated time period, cocoa beans will be the primary raw material for chocolate production.

By Type

When broken down by type, the market is anticipated to be dominated by dark chocolate.

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Regional Analysis

Due to the presence of the largest chocolate processing and manufacturing market, Europe is expected to develop at a CAGR of 6.81% during the forecast period, making up the largest portion of the Sugar-Free Chocolate Market. In terms of sugar-free chocolate demand, Switzerland and Germany lead the pack, with a preference for dark chocolates. Many large, well-established companies operate in this area, which bodes well for the regional market.

Rapid urbanization and a rising desire for sugar-free chocolate have made the Asia-Pacific area the fastest-growing. The APAC region is expected to be a major growth driver for the market going forward. The rising interest in sugar-free goods will also drive expansion in North America. Additionally, the availability of labor has fueled the sugar-free chocolate business, which has led to numerous companies setting up manufacturing facilities in the potential markets, such as India and China.

Due to rising demand for low-fat and sugar-free options, the North American market for sugar-free chocolate is forecast to expand rapidly in the next years. Similarly to the general healthy snacking trend, the increase in the working population has likely contributed to the rise in the consumption of sugar-free chocolate as a snack in between meals. In addition, producers are releasing cutting-edge products to grab customers' attention, which has boosted its regional market share.

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