Sugar-Free Chocolate Market - by Category (100% Sugar Free), Main Ingredients (Cocoa beans), Type (Dark), Distribution Channel and Region - Forecast to 2023.
Pune, India -- (SBWIRE) -- 11/02/2017 -- Market Overview
Sugar free chocolate, sugar free candy, diabetic chocolate, sugar free chocolate chips, sugar free sweets, sugar free hard candy, sugar free dark chocolate, best sugar free chocolate, chocolate for diabetics, sugar free white chocolate, sugar free products, sugar free chocolate candy, best sugar free candy, low sugar free chocolate, sugarless candy, sugar free mints, chocolate sugar free, sugar free milk. The trend towards healthier food continues to gain ground and is significantly changing consumer lifestyles and purchasing habits. In response to a multitude of nutritional recommendations more and more consumers want products that allow them to indulge themselves without the need for sugar. The popularity of chocolate means it cannot escape this demand. Thus due to growing demand from various end users, globally the market for sugar-free chocolate is estimated to grow at the rate of about 6.85 % from 2017 to 2023.
This report includes a study of strategies used in the market, mergers and acquisitions in sugar-free chocolate, multiple product launch by sugar-free chocolate market players. It further includes product portfolios and developments of leading major players which includes
- Think Thin (U.S.)
- Guilin (Belgium)
- Ghirardelli Chocolate Company (U.S.)
- Lindt & Sprüngli (France)
- Hershey (U.S.)
- Godiva Chocolatier (U.S.)
- Russell stover (U.S.)
Global Sugar-Free Chocolate Market is mainly occupied by some key manufacturers. The competitive environment in this market is estimated to increase, with an increase in product portfolio from current key players. Most of the companies operating in this market are focusing on expanding its operations across the geographies, augmenting its capabilities and investing in research and development to offer products with better functionality.
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Globalization and urbanization has significantly affected the composition of human diets and this urban life encourages the consumption and use of goods with nutritional benefits. The growing levels of obesity and associated health problems are some of the lifestyle challenges. Lack of physical activity along with evolving dietary pattern including high-energy diets are the major factors for the global obesity epidemic and other health issues such as diabetes and cardiovascular diseases are the major factors due to which demand for sugar-free chocolates is increasing.
The busy schedule and modern & pressured lifestyles stimulates stress and anxiety build up. The 'on the go' pattern and hectic lifestyles in most of the countries creates lucrative opportunities for retailers and manufacturers to set up their operations and cater to increasing consumer expectations to relieve stress, as chocolates are considered stress-busters as the chocolate influenced the metabolism and subsequently lowered the amount of stress hormones in the participants. Moreover, dark chocolate with more than 70% of cocoa solids contains higher percentage of the chocolate polyphenols and flavanols - antioxidants that protect the body from damage. These factors will play a key role in the growth of sugar-free chocolate market at the CAGR of 6.85 % during 2017-2023.
The Global Sugar-Free Chocolate Market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Among these, Europe is expected to retain its dominance throughout the forecast period. The market is projected to grow at a steady pace in the review period. APAC will be the fastest growing region in the sugar-free chocolate market and high growth in emerging economies such as China, India, Japan and ASEAN countries. Latin American countries, offers ample opportunities for expansion to major players. The high consumption of processed and convenience food products in growing economies of Asia-Pacific and Latin America.
- Non- Store based segment is anticipated to account the maximum market share in the Global sugar-free chocolate market throughout the forecast period of 2017-2023.
- The Dark sugar free chocolate segment is projected to register the higher growth rate during the forecast period of 2017 to 2023.
- In APAC region China dominates the market, followed by Thailand
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List of Figures
FIGURE 1 Primary Research Process 21
FIGURE 2 Secondary Research Process: Top Down & Bottom Up Approach 22
FIGURE 3 Forecast Model 23
FIGURE 4 Market Segmentation: Global Sugar Free Chocolate Market 25