Market Outlook
No sugar chocolate is mainly prepared from mixed cocoa butter, cocoa powder, and sugar to prepare a solid confectionery product. There are several varieties of chocolate classified in accordance with the amount of cocoa that is used to prepare a particular formulation. The changing dietary pattern, deskbound lifestyle, and increasing focus on healthy food and beverage products are the key factor behind the increasing demand for no sugar chocolate market.
The trend of consumption of GMO-free, sugar-free, and fat-free started with the western nations and spread across the globe. Nowadays, consumers are trying to cut the sugar amount from their diets because of the rising incidences of several diseases. Excessive intake of sugar-based products leads to diabetes, strokes, obesity, mood swings, tooth decay, and CVDs among others. Hence, no sugar chocolate is facing a booming market across the globe.
As no sugar chocolate is one of the confectionery products, it contains all the other ingredients similar to the chocolates expect the sweetening agent. Sugar substitutes such as fruit concentrates, agave nectar, stevia, and maltitol are mostly used to prepare no sugar chocolate as these sweetening agents do not hinder the blood sugar levels. Due to which, the demand for no sugar chocolate is on the surge among the diabetic population and is also anticipated to grow over the upcoming years.
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Growing Demand for Sugar-free Confectionery Driving the No Sugar Chocolate Market Growth
With the continuous increase in weight management issues around the world, individuals have started to shift towards the intake of low-sugar or sugar-free products such as no sugar chocolates. Due to the overconsumption of sugar and carbohydrates diseases such as obesity, heart stroke, and diabetes may occur. Hence, consumers are focusing on the consumption of sugar-free products that is fostering the growth of no sugar chocolate market across the globe. In addition to this, the rise in income of middle-class families in emerging regions is ominously driving the no sugar chocolate market forward, and this is anticipated to endure over the forecast years. However, the hectic lifestyle of the consumers is one of the other factors to look out for, as this factor will also drive the no sugar chocolate market onward immensely over the upcoming years.
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Global No Sugar Chocolate: Market Segmentation
Based on nature, the global no sugar chocolate market has been segmented as-
- Organic
- Conventional
Based on sweetening agent, the global no sugar chocolate market can be segmented as-
- Natural
- Synthetic
Based on ingredients, the global no sugar chocolate market can be segmented as-
- Cocoa Beans
- Cocoa Butter
- Sugar Substitute
- Cocoa Liquor
- Others (Oils & Fats)
Based on type, the global no sugar chocolate market can be segmented as-
- Dark Chocolate
- White Chocolate
- Milk Chocolate
Based on sales channel, the global no sugar chocolate market can be segmented as-
- B2B (Direct Sales)
- B2C (Indirect Sales)
- Store-based Retailing
- Supermarket/Hypermarket
- Convenience Stores
- Groceries
- Specialty Stores
- Medical Stores
- Other Retailing Formats
- Online Retailing
- Store-based Retailing
Global No Sugar Chocolate Market: Key Players
The key manufacturers operating their business in no sugar chocolate market across the globe include The Kroger Co., Godiva Chocolatier, August Storck KG, Ghirardelli Chocolate, Lindt & Sprungli, Carbolite Foods, Inc., M&M’s, Nestlé SA, Mars, Incorporated, Mondel?z International, Russell Stover, Ferrero SpA, and The Hershey Company among others.
For instance, in July 2019, the company Nestlé SA has introduced a zero-sugar product (no sugar chocolate) of its popular brand KitKat. The new launch under the KitKat brand is totally prepared from cocoa pulp and beans.
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Opportunities for Market Participants:
The global confectionery sector is being continuously challenged by the shifting consumers’ trends, this because of the increasing prevalence of several sugar-based diseases. No sugar chocolates are highly desired by all age consumers because of its reduced sugar content. However, the prevailing sugar cut-off trend is creating prospects for the players operating their business in no sugar chocolate market. In addition to this, innovations in taste and flavor are the major aspect due to which consumers are more inclining towards no sugar chocolates.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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