Market Insights
Market Research Future (MRFR) predicted, the global Sugar-Free Chocolate Market will capitalize to expand with a CAGR of 6.85 % from 2017 to 2023. The trending concept of health-awareness can boost the market growth and mark up a substantial valuation by 2023.
The changing lifestyle is held responsible for the global sugar-free chocolate market to grow, garnering an excellent CAGR during the forecast period. Today, the dietary plan followed by majority of people demands for the consumption of low sugar food items can spur the global sugar-free chocolate market growth. The need to combat obesity, without compensating on the happiness a chocolate has to offer. Thereby, the increase in the growing demand for healthy desserts, with low calorie content can prompt the global sugar-free chocolate market growth. The rising number of diabetic patients is also expected to cushion the global sugar-free chocolate market expansion. This, in turn, is encouraging market player to produce increased number of low-calorie items, especially the widely appreciated food item, chocolate. The hike in the sales number of sugar-free chocolate is anticipated to fuel the market growth.
On the flip side, the declination in the production of coca, unfavourable climatic condition being the paramount cause, is predicted to hinder the global sugar-free chocolate market expansion.
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Key Players
Certain key players, which are magnetising high revenue for the global Sugar-Free Chocolate Market are enlisted by MRFR. They are;
Hershey (U.S.),
Thin (U.S.),
Godiva Chocolatier (U.S.),
Ghirardelli Chocolate Company (U.S.),
Russell stover (U.S.),
Guilin (Belgium)
Lindt & Sprüngli (France)
Segment Overview
Category, main ingredients, type, and distribution channel are segments under which, MRFR has studied the global sugar-free chocolate market.
Based on the category global sugar-free chocolate market has been segmented into 100% Sugar Free and No Added Sugar. The inclination of people towards 100% sugar-free chocolate is devoted to surge its segment growth, attaining a considerable CAGR during the forecast period. The no added sugar segment is expected to emerge over the course of evaluation period.
Based on main ingredients, the sugar-free chocolate market has been segmented into Cocoa liquor, Cocoa beans, Cocoa butter, Sugar Substitute, Fat and Oil, and other. The cocoa beans segment can lead the over the review period.
Based on the type, the sugar-free chocolate market has been segmented into Dark, Milk, and White. The growing popularity of dark sugar free chocolate among people can propel its segment’s growth during the assessment period.
Based on the distribution channel, the sugar-free chocolate market has been segmented into store based and non-store based. The sharp penetration of e-commerce can bolster the non-store-based segment growth. The one-stop shopping experience can add fillip to the store-based distribution channel growth over the forecast period.
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Regional Analysis
The global sugar-free chocolate market has been studied across North America, Asia Pacific, Europe, and Rest of the World (ROW).
The European sugar-free chocolate market is expected to dominate globally. The regional market to expand at a CAGR of 6.81% over the evaluation period. MRFR forecasted the Asia-Pacific region to be the fastest-paced market over the forecast period. APAC sugar-free chocolate market is expected to grow with a lucrative CAGR of 6.97% over the review period. The emerging economies like China, Japan India, and ASEAN countries to register a substantial growth of the sugar-free chocolate market, due to their strong economic condition.
The high intake of cocoa and cocoa flavoured items in the Latin America, denotes the emergence of the sugar-free chocolate market. The trending concept of health-consciousness and key players, producing sugar-free chocolate items in large quantity can spur the American market growth.
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