Sugar-Free Chocolate Market Size is anticipated to reach USD 1.92 Billion by 2030, registering a CAGR of 5.4% during 2022-2030
The Sugar-Free Chocolate Market is anticipated to reach USD 1.92 billion by 2030, expanding at a 5.4% CAGR. Sugar-Free Chocolate Market is produced from cocoa powder, mixed Cocoa butter, and sugar. Sometimes sugar alternatives are used to sweeten the taste to produce a solid confectionery. There are different types of chocolates, and every chocolate is classified to the Cocoa proportion used in the making of chocolate. The ingredients on the chocolate must be visible according to government regulations. With changing lifestyles, people are adopting a healthy lifestyle and healthy foods. Nowadays, healthy foods and beverages play a crucial role in consumers’ food choices. These days sugar free products are trending due to many health problems and awareness. People have started trying sugar free chocolate and low- sugar free chocolates but not the expanse of taste. That is why the chocolate needs to be sweet even though it doesn’t use sugar.
The best sugar alternative that can sweeten the taste of chocolate is maltitol. It adds sweetness to chocolate in just half the calories. This can surely help chocolate addicts and consumers to reduce their sugar intake. Maltitol, when combined with Physico-chemical characteristics same as sucrose, and it makes it the best substitute for sugar in various application especially while making chocolate. And it can make chocolate sugar free and healthy. Sugar free chocolate is beneficial for diabetes patients who want to enjoy chocolates and as well as those who want to lose weight. For people who are trying to lose weight without giving up chocolate, sugar free chocolate is the best option. The Sugar-Free Chocolate Market is seeing rapid growth due to the increasing consumption of confectionery food items around the world. Sugar free chocolate shows that the product fewer grams of sugar per serving. Many people nowadays prefer sugar free chocolate. Many manufacturers are launching sugar free, organic, and non-GMO varieties due to growing demand.
According to the Sugar-Free Chocolate Market analysis, the market will be expected to grow at a rate of 6.85% in the forecast period. Chocolates are mostly consumed as a snack because they provide high energy. But People are becoming conscious of health, and it is boosting the Sugar-Free Chocolate Industry revenue. Apart from that launch of various sugar free chocolates in different flavors and attractive packaging is fueling the Sugar-Free Chocolate Market revenue. In recent years people have inclined towards sugar free products due to rising health insurance problems such as diabetes, obesity, and heart diseases. According to the world health organization, since 1975, obesity has increased by 18%. And it has a positive impact on the sales of the sugar free market. The changing lifestyle of people due to the nutritional value of foods without sugar has increased the Sugar-Free Chocolate Market size.
Almost all the countries around the world were affected by the coronavirus. The government in all countries imposed lockdown and social distancing guidelines to fight coronavirus. The virus has spread across the world, and as a result, it has become a problem for businesses. Due to the covid-19 pandemic, the businesses are affected highly. Lockdown and social distancing guidelines affected the businesses most. The Sugar-Free Chocolate Market was also affected due to the covid-19 outbreak as the production work at a halt due to shut-down. The shortage of laborers and social distancing guidelines was other reasons behind the production of sugar free chocolate. Due to the pandemic, people started eating healthy foods, and they mostly stayed inside. And it was a major reason behind the low demand for sugar free chocolate candy. Also, the financial crisis of people was another reason that affected the sugar free market size. But after Post covid-19 situation, the demand for healthy products will rise with the increasing awareness of people. Sugar free candy, gluten-free, sugar free chocolate cake, gluten free sugar free chocolate chip cookies, and sugar free chocolate syrup will have a huge demand because they offer fewer health risks.
The Sugar-Free Chocolate Market size has many factors that boost the demand of the market, and they are called market drivers, but due to the presence of market restraints, it is hampering the Sugar-Free Chocolate Market size growth.
One of the major drivers of the Sugar-Free Chocolate Market is the high demand for sugar free products. Healthy and tasty foods continue to gain popularity, and it is impacting the Consumer lifestyle, purchasing habits, and taste. Rising demand towards alternative sweeteners and raising awareness about the benefits of natural benefits of sweeteners such as erythritol, maltitol, and stevia is boosting the dietary chocolate products market. Additionally, the growing demand for sugar free foods and low-calorie foods in consumers involving in a workout or other physical activities is another factor driving the dietary chocolate products market. And it is driving the manufacturers to manufacture more of these products. Increasing health problems of people such as diabetes, obesity, and heart diseases are increasing the demand for sugar free products. The world health organization, the U.S. dietary guidelines advisory committee have advised people to limit their sugar intake. Growing initiatives by such big organizations and a rising number of chocolate companies are focusing on producing sugar free products is another factor driving the Sugar-Free Chocolate Market. Rising economic conditions of people with increasing per capita income are driving the demand if sugar free chocolates globally.
Due to the covid-19 pandemic, people are becoming more health-conscious than ever. And due to this, the demand for sugar free products such as sugar free chocolate, and sugar free chocolate chip cookies, and gluten-free products are rising. Diseases like diabetes and obesity that can happen due to high sugar intake are expected to bring opportunities for the sugar free market.
One of the major restraints in the Sugar-Free Chocolate Market is the declining production of cocoa. The fewer Cocoa plants are a major threat to the sugar free chocolate industry. Apart from that, high-cost raw materials or the ingredients to manufacture sugar free chocolate has been key restraints in the production of sugar free chocolate. At times unfavorable weather conditions can be a major problem for the Sugar-Free Chocolate Market.
High investment is required to make sugar free chocolate, and it includes high-cost raw materials. As a result, the manufacturers are not focusing on the production of sugar free chocolates. In underdeveloped areas, it has become a major problem to get all the raw materials and invest highly to make sugar free chocolate; as a result, it has become a challenge for the Sugar-Free Chocolate Market.
Cumulative Growth Analysis
The demand for the Sugar-Free Chocolate Market is rising every day, and it is excepted to rise even more in the future owing to the adoption of sugar free chocolate due to various health problems. The market will be expected to grow at a rate of 5.4% in the forecast period and cross 1.92 Billion due to the high demand of the food industry.
The sugar free market is segmented on the basis of category, ingredients, and type.
By category- On the basis of category, the Sugar-Free Chocolate Market is divided into 100% sugar free, no added sugar. And among them, 100% sugar free segment has the highest Sugar-Free Chocolate Market share.
By ingredients- By ingredients, the Sugar-Free Chocolate Industry is divided into Cocoa beans, Cocoa butter, sugar substitute, fat & oil, Cocoa liquor, and others. Cocoa beans will dominate the market in the forecast period.
By type- On the basis of type, the market is divided into milk, dark, white. Dark chocolate is expected to dominate the market in the forecast period.
The major regions in the Sugar-Free Chocolate Market are North America, Europe, Asia Pacific, and the rest of the world. Europe holds the highest Sugar-Free Chocolate Market share in the market, and it will grow at a CAGR of 6.81% in the forecast period due to the presence of the largest chocolate processing and manufacturing market in this region. Switzerland and Germany have the highest demand for sugar free chocolate, and they have a high demand for dark chocolates mostly. There are many well-established players available in this region who will boost the market growth in this region. The Asia Pacific is the fastest-growing region due to rapid urbanization and the high demand for sugar free chocolate. The market in the Asia Pacific will grow rapidly in the forecast period. North America will also see substantial growth due to the increasing demand for sugar free products.
The major key players in the Sugar-Free Chocolate Market are:
|Market Size||USD 1.92 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Category, By Main Ingredients, By Type, By Distribution Channel and By Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Hershey (U.S.), Godiva Chocolatier (U.S.), Lindt & Sprüngli (France), Russell Stover (U.S.), Ghirardelli Chocolate Company (U.S.), Thin (U.S.), Guilin (Belgium)|
|Key Market Opportunities||People are becoming more health-conscious than ever|
|Key Market Drivers||The high demand for sugar free products|
Sugar-free chocolate market valuation would be USD 1.92 Billion by 2030.
Sugar-free chocolate market CAGR would be 5.4% during the forecast period.
The players involved in the sugar-free chocolate market are Godiva Chocolatier (U.S.), Lindt & Sprüngli (France), Thin (U.S.), Hershey (U.S.), Ghirardelli Chocolate Company (U.S.), Russell Stover (U.S.), and Guilin (Belgium).
The APAC region would be the fastest-growing in the sugar-free chocolate market.
Europe would dominate the sugar-free chocolate market.