Global premium sugar free chocolate market was valued at USD 810.3 million in 2018, growing at a CAGR of 6.7% during the forecast period of 2019–2026.
Premium sugar free chocolates are prepared using sweeteners such as maltitol, stevia, erythritol, and others. These chocolates have very low or zero caloric value and thus are favored by health-conscious people across the globe as compared to the conventional chocolates. Sugar free dark chocolates are expected to experience swift growth in upcoming years owing to the health benefits exhibited by them in comparison to their substitutes. Worldwide Surge in the number of health-conscious demographic and launch of new premium sugar free chocolate products with improved sweeteners are the key factors driving the market.
|Market Size||1883.61 million|
|Fastest Growing Market||Europe|
|Largest Market||North America|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends|
Global premium sugar free chocolate market by Americas, Asia Pacific, Europe, and the Middle East and Africa.
North America is dominating the market. Sugar-free chocolate sales in the U.S. has increased in the last few years owing to rising awareness regarding sugar-free chocolates and an increased number of health-conscious people. Launch of new sugar-free premium chocolate products with new ingredients and sweeteners boosted the market growth in North America in 2017. In addition, Attractive product marketing and advertisement campaigns are the key factors driving the market growth in Canada.
Europe is second leading region in the forecast period. This can be attributed to high chocolate consumption in the region. Top 5 chocolate consumer countries in the world are present in Europe where an average person consumes approximately 24 pounds of chocolate every year. However, it varies further as per the country in the region. Moreover, Europe is the largest producer and consumer of chocolates and sugar-free chocolate products including milk, dark, and white chocolates. Sugar-free chocolate market in Europe is on the rise owing to the presence of world-renowned companies including Lindt & Sprungli AG, Chocolates Valor, S.A., Torras, and others in the region.
Middle East & Africa sugar-free chocolate market has been experiencing considerable growth in the last few years owing to vigorously growing tourist inflow. Major players in the Middle East & Africa are focusing on strengthening their duty-free and retail travel segments for further sales growth. Constantly growing focus on marketing campaigns is another factor supporting the market growth in the region, and the market is expected to report steady growth over the forecast period 2018–2025.
For a better understanding of the global premium sugar free chocolate market, we have segmented the market by type, ingredient and distribution channel.
Based on types, the global sugar-free chocolate market is segmented into the dark, milk, and white chocolate. In the last few years, the demand for dark chocolates has increased significantly owing to the health benefits that it offers and is expected to grow at a healthy CAGR of 7.0% during the forecast period. Moreover, the milk chocolate segment is projected to hold the largest market share as it is the highly preferred chocolate by consumers. The white chocolate segment is expected to account for the least share of the market due to added milk and milk product ingredients during chocolate production. Demand for sugar-free dark chocolate is rising across the globe due to leaning trend towards a healthy lifestyle in the regions including North America, Europe, and Asia Pacific.