Latest Report on Sugar Free Chocolate Market Global Analysis & 2023 Forecast Research Study
The legal definition is that there has to be less than 0.5 g of sugars per reference serving size. For 100% sugar-free the reference serving size is 40 g, so the 0.5 g/40 g equates to less than 1.25 % sugars allowed. Sugars are considered to be mono and disaccharides and this will include glucose, sucrose, fructose and lactose. No-sugar added chocolate generally have no added sucrose, but may contain another sugar such as lactose, which is found in milk powder.
Global Sugar free chocolate by category is segmented into two type 100% sugar free and no added sugar. The 100% Sugar Free segment is projected to reach USD 3.05 Bn by the end of 2023 and will grow at a CAGR of 7.02%. However, no-added sugar segment will grow at CAGR of 6.66 % and market value will reach USD 2.78 Billion.
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 and consumers want products that allow them to indulge themselves without the need for sugar. The indispensable key to the success of a sugar-free product is that it is healthy version of unhealthy calories. 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. Maltitol probably the best substitute for sugar, not only provides sweetening power, but also the calories are cut down to half. 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 similar to those of sucrose, make it the most effective substitute for sugar in many applications and especially in the manufacture of chocolate. Crystallized maltitol is non-acidogenic and non-cariogenic and hence it harmless to teeth as it is non-fermentable by the buccal flora. Traditional chocolates contains around 30-50% of sugars, most of which is sucrose which gives chocolate a sweet taste while allowing the aromatic notes of the cacao beans to fully express themselves and provides the volume essential for making quality chocolate. But, Maltitol without any sugars, performs the same functions and the addition of intense sweeteners is not required. 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.
Key players promote largely in supermarket, particularly in hypermarkets, where they can display huge varieties of their product line. Finest supermarkets feature some form of in-store promotional display for chocolate product line. Promotions staff offers customers samples and also provide them with product information such as ingredients, formulation and others.
Key players also use social media such as facebook, twitter, snapchat, instagram, and other to reach to various types of customers. Also, endorsing celebrities with huge fan following have bigger scope to promote the various chocolate products. Key players are also investing in advertising products on various magazines, newspaper, so as to connect to consumers even in rural and semi-urban areas.
Consumers demand for complex product stratification which includes various products at a range of prices that meet the needs of different consumers. Companies such as Hershey and others, which offers a wide range of products, are best positioned to compete across multitier markets. Key players have different market strategies for different region, so as to meet the need through selectively distributing its products to consumers at different stage of chocolate development so as to note down the feedback of their taste for and ability to buy the product. For example, many key players offer their chocolate products to the consumers as free sample during launch of their product as an introductory offering for emerging consumers and also take their feedback for the R&D department, so as to improve the formulations according to the need of the consumers.
The Global Sugar free chocolate market is segmented on the basis of main ingredients such as Cocoa beans, Sugar Substitute, Cocoa butter, fat & oil, Cocoa liquor and others. Cocoa beans segment is anticipated to account the maximum market proportion in the Global Sugar free chocolate market throughout the forecast period of 2017-2023. The segment is projected to reach to USD 2.18 Billion by the end of 2023. However, Cocoa butter, fat & oil will grow at a highest CAGR 7.04%.
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The leading market players in the global Sugar free chocolate market primarily are Hershey (U.S.), Godiva Chocolatier, Inc. (U.S.), Lindt & Sprungli SAS (France), Russell stover (U.S.), Ghirardelli Chocolate Company (U.S.), Think Thin LLC (U.S.), Guilin chocolates (Belgium)
Study Objectives of sugar free chocolate Market Forecast to 2023
• Detailed analysis for individual micro and macro markets for sugar free chocolate
• To estimate market size by Category, Type, Ingredients, Distribution Channel and Region
• To understand the supply and demand dynamics of sugar free chocolate
• To provide region level market analysis and future outlook for U.S., U.K., Germany, France, and South-East Asia
• Company profiling of major players & competitive positioning for the sugar free chocolate market
• Value chain analysis and supply chain analysis of sugar free chocolate
• Analysis of historical market trends, and technologies, and current government regulatory requirements related to sugar free chocolate market
• Sugar free chocolate manufacturers
• Food Service industries
• Retailers and wholesalers
• Traders, importers and exporters
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Source: EIN Presswire