Sugar-Free Beverages Market Research Report includes various topics like total Market Size, Key Market Drivers, Challenges, Growth Opportunities, Industry Share, Growth, Demand, Outlook etc. Furthermore, it covers key market updates, the impact of regulations and technological updates in. The report addresses the need to stay updated in this competitive market conditions and this provides and comprehensive data for making strategies and decision to stimulate the market growth and profitability.
Market Insights:
Chocolate is perhaps one of the most popular flavors for desserts and comes in various varieties. While sugar has always been considered a key ingredient in chocolate making, there has been a rising demand for sugar-free chocolates. Market Research Future has predicted growth of the market at a CAGR of 6.85% during the forecast period from 2017 to 2023. This projects an upward trend. MRFR has revealed that the global sugar-free chocolate market is expected to appreciate to reach an estimated USD 5,842.04 Mn by the end of 2023.
Increasing prevalence of diabetes and obesity have led to rising demand for sugar-free chocolate. Many studies have proven the harmful long-term and short-term effects of refined sugar consumption which has prompted consumers to reduce sugar intake. Moreover, rising obesity rates and diabetes diagnoses have increased the demand for guilt-free items. Diabetics and people looking for short-term weight loss are often suggested the keto diet which prohibits the intake of sugar. This has further increased the demand for sugar-free chocolate products. Increasing demand for low sugar and sugar-free products across the board is expected to prompt market players to launch innovative sugar-free chocolate products in the form of syrups and others.
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Key Players:
Guilin, Ghirardelli Chocolate Company, Hershey, Russell Stover, Lindt & Sprüngli, Thin, and Godiva Chocolatier are among the notable market players that have been included in MRFRs extensive report.
Latest Industry News:
NuNaturals has launched a new line of sugar-free syrups dubbed Pourable Syrups. Among the flavors is chocolate.
Icon Foods has introduced a new line of sugar-free clean label chocolate chips. The line is called SweetBitz.
Market Segmentation:
The global sugar-free chocolate market has been segmented on the basis of category, main ingredients, type, distribution channel, and region. Categories of sugar-free chocolate have been segmented into 100% sugar-free, and no added sugar. Between these, the 100% sugar-free segment possesses the largest share of the market and is expected to retain its leadership position. 100% sugar-free chocolate often replaced the sugar with a carb free and low-calorie substitute, which is preferable to the complete bitterness of no added sugar chocolate.
Main ingredients used in the production of sugar-free chocolate have been segmented into cocoa beans, sugar substitute, cocoa butter, fat & oil, cocoa liquor, and other. The cocoa beans segment is expected to possess the largest market share among all segments.
Types of sugar-free chocolate have been segmented into dark, milk, and white. Dark sugar-free chocolate is considered to be highly healthy and as such accounts for the highest market share. Moreover, dark chocolate naturally uses the least among of sugar making the flavor almost comparable to sugar-based versions.
Distribution channels are segmented into store-based and non-store based. The non-store based segment accounts for the highest share of the total market. Increasing use of eCommerce for the sale of unique confectionery products and the wider scope of availability are expected to drive the growth of this segment.
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Regional Analysis:
The European market for sugar-free chocolate is expected to dominate the market and retain leadership position through the forecast period with a CAGR of 6.81%. The region has a high number of chocolatiers and a strong history with chocolate making which has led to high demand for sugar-free chocolates from this region. Meanwhile, the Asia Pacific is expected to grow at the highest CAGR of 6.97% during the review period. Emerging markets such as China, India, and Japan among others are witnessing a high demand for sugar-free chocolates. The region has a massive consumer population among whom diabetes is a prevalent condition, thus driving the demand and sales for sugar-free chocolate. High demand for chocolate flavored products is another factor driving growth for the APAC market.
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