Sugar Free Chocolate Market Worldwide Analysis 2019 to 2023 | Key Findings, Regional Growth, Key Players Profiles and Future Prospects
Chocolate is derived from cocoa, mixed cocoa butter and sugar or sugar substitutes to produce a solid confectionery. There are several types of chocolate, classified according to the proportion of cocoa used in a particular formulation. The labelling of ingredients and subject to international governmental regulation. With changing lifestyle and evolving dietary pattern, healthy food & beverages plays an important role in defining the consumers’ food choices in the modern world. The trend of consumption of sugar-free, fat-free, GMO-free and others began in western world and spread to other regions rapidly. Today’s consumer is eager to try low-sugar or sugar-free products, but not at the expense of enjoyment, not least when it comes to chocolate.
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Maltitol probably the best substitute for sugar – not only provides sweetening power virtually identical to sugars but does it with little more than half the calories. This will delight confectionery gourmets with waistline worries and chocolate addicts trying to reduce their sugar intake. The sweet taste of maltitol, combined with physico-chemical characteristics like those of sucrose, make it the most effective substitute for sugar in many applications and especially in the manufacture of chocolate. Thus, making chocolate healthy and guilt-free. Sugar free chocolates are not only healthy for diabetics’ patients but also helps consumers achieve their weight loss target without giving up the food they love. Hence, these factors will support the growth of this market during the forecast period. Globally the market (Volume) for sugar-free chocolate is estimated to grow at the rate of about 6.85 % from 2017 to 2023.
Leading Key Players Review
With the entry of new industry players in the sugar-free chocolate segment, the demand from various food and beverage manufacturers have increased based on consumers trending demand for natural and chemical-free pure form of chocolates. Major strategy followed by the key players is identified to be increasing their production capacity as well as product promotions to spread awareness about the health benefits gained from sugar-free chocolate consumption. The best long-term growth opportunities for this sector can be captured by ensuring ongoing new product launch experimenting with new flavors and R&D investments.
The key players profiled in Global Sugar-Free Chocolate Market Report are
- Ghirardelli Chocolate Company (U.S.),
- Hershey (U.S.),
- Godiva Chocolatier (U.S.),
- Lindt & Sprüngli (France),
- Russell stover (U.S.),
- Thin (U.S.) and
- Guilin (Belgium)
among many others.
Latest Industry Updates:
Dec 2017 increasing health consciousness has raised the demand for healthy sweets in the market. In order to support the movement, Barry Callebaut developed a range of sugar reduced products in the global market.
Jun 2017 Russell Stover Candies, Inc. announced the launch of their sugar-free chocolate line in Chicago. The product is available in new varieties including pecan delights, mint patties, peanut butter cups and coconut.
Mar 2017 To support consumers’ growing inclination towards low-sugar consumption, KitKat maker Nestlé announced to be removing 10% of sugar from its chocolate in UK and Ireland from 2018.
Nov 2016 in order to encourage the consumption of low-caloric confectionery, Thai based company called Glico launched sugar-free chocolate product.
Sugar-Free Chocolate Market has been divided into Type, Distribution Channel and Region.
Based on Distribution Channel: Store Based and Non-Store Based
Based on Type: Dark, White, Milk, and Others and
Based on Region: North America, Europe, Asia Pacific, and ROW.
Global Sugar-Free Chocolate Market is segmented into America, Africa, and Rest of the World (RoW). Global Sugar-Free Chocolate Market is highly dominated by America due to high production capacity and cultivation of cocoa in the region. America is also fastest growing region due to changing lifestyle and increasing health awareness in the region. The production of sugar-free chocolate from the European region is anticipated to grow at a high rate in the upcoming years.