Premium Sugar Free Chocolate Market Size & Trend Report 2031

Report Description

The global premium sugar free chocolate market size was USD 1.3 Bn in 2022 and is likely to reach USD 2.09 Bn by 2031, expanding at a CAGR of 5.4% during 2023–2031. The market growth is attributed to the growing health consciousness and rising development of various tastes in sugar-free chocolates.

Increasing prevalence of diabetes or other excessive sugar consumption-related diseases contributes to the growth of the market worldwide. Individuals preferred premium sugar-free chocolate as a healthy source of sweets, as it contains very low or zero calories than conventional chocolate.

• According to a report published by International Diabetes Federation (IDF), an estimated 537 million adults aged between 20 to 79 had diabetes in 2021. This number is expected to reach to 783 million by 2045.

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Premium chocolate is considered to be high-quality and expensive and is often made with premium ingredients such as pure cane sugar and rich cocoa butter. Whereas, sugar-free chocolate is known for its high-quality alternative food sweeteners such as stevia, erythritol, sucralose, and maltitol. These chocolates are available in a variety of flavors, shapes, and luxury packaging.

Premium sugar-free chocolate offers a dessert feel with fewer calories. It includes pistachios, cashews, and other nuts which give a crispy and crunchy texture. These chocolates are suitable for inclusion in various diet plans, as it works as an instant energy source on a physically tiring day.

The COVID-19 pandemic disrupted the overall supply chain of the market, due to the preventive measures imposed by the government, such as lockdowns and several limitations on transportation. This reduced the availability of raw materials required for chocolate production.

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Major Driver

Rising demand for sugar-free chocolates from diabetic patients and health-conscious individuals is likely to drive the market. Sugar-free chocolate helps in maintaining weight, as it contains less calorie count or zero sugar. However, growing awareness among consumers regarding the negative effects of consumption of excessive sugar is further expected to boost the market.

• For instance, according to the National Library of Medicine US, the risk of obesity, coronary heart disease, metabolic syndrome, and diabetes increases due to the excessive consumption of sugar.

Increasing consumption of dark chocolate, due to the growing awareness among consumers regarding the health benefits of dark chocolate is anticipated to drive the market in the coming years. Dark chocolate is a powerful source of antioxidants, which alleviate stress, improve brain function, and lower the risk of heart disease and diabetes.

• As per the article published by the National Library of Medicine in 2022, sugar-free dark chocolate is an acceptable choice among people with diabetes, as it lowers postprandial blood glucose response compared to conventional dark chocolate. 

Existing Restraints

High cost associated with premium sugar-free chocolates is projected to hinder the market. These chocolates contain high-quality natural raw materials, such as dry fruits and natural sweeteners. Dry fruits are grown in a specific region, which makes them costlier and significantly increases the price of the products they are used in. Moreover, fluctuation in the price of cocoa, due to its less availability is further likely to restrain the market.

Sugar-free chocolates are high in saturated fat, as it contains ingredients like cocoa butter, which limit their consumption among the health-conscious population. Furthermore, sugar-free chocolate contains zero-calorie sweeteners, which stimulate appetite and significantly increase the counterproductive for individuals’ dietary goals. These factors are likely to hamper the growth of the market.

Emerging Opportunities

Growing demand for chocolates with unique shapes and flavors for gifting purposes is anticipated to create immense growth opportunities in the market. Thus, market players are using natural flavor enhancers to improve the taste of chocolates. Moreover, increasing demand for gluten-free and vegan chocolates and rising diseases like obesity and diabetes are likely to fuel the market.

Scope of Premium Sugar Free Chocolate Market Report

The report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Premium Sugar Free Chocolate Market Segment Insights

Form Segment Analysis

Based on form, the premium sugar free chocolate market is divided into sugar free chocolate chips, raw chocolate, sugar-free chocolate-coated nuts, candies, bars, and truffles. The bars segment is expected to expand at a significant growth rate during the projected period, due to the increasing adoption of bars as a snack. Chocolate bars contain roasted peanuts, caramel, and nougat wrapped, which enhanced the taste. Growing demand for protein bars is further likely to boost the segment.

The truffle segment is projected to hold a major market share during the forecast period. Truffles are made with a chocolate ganache and coated with chopped and toasted nuts. The increasing preference for truffles as a gift option is expected to boost the segment.

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Type Segment Analysis

On the basis of type, the market is segregated into no added sugar and 100% sugar-free. The 100% sugar-free segment is projected to register a considerable CAGR in the coming years, due to the rising demand from the health-conscious population. 100% sugar-free chocolate offers several health benefits, such as controlling sugar spikes, maintaining weight, keeping the heart healthy, and is also beneficial for the teeth.

Distribution Channel Segment Analysis

On the basis of distribution channel, the premium sugar free chocolate market is segmented into hypermarkets/supermarkets, specialty stores, and online. The hypermarkets/supermarket is projected to hold a major market share during the assessment period, owing to the availability of a wide range of products at a different price under a single roof. Furthermore, ease of accessibility and the rapid expansion of supermarkets in developing regions are likely to fuel the segment.

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Ingredients Segment Analysis 

On the basis of ingredients, the premium sugar free chocolate market is divided into cocoa beans stevia, erythritol, and maltitol. The cocoa beans segment is expected to hold a substantial share of the market, as it is used as a primary ingredient for making chocolate. Cocoa beans are beneficial for health, as it rich in minerals, iron, copper, potassium, and magnesium. It reduces inflammation, lower blood pressure, and improves cholesterol and blood sugar. The rising usage in dark chocolate is likely to contribute to segment growth.

The stevia segment is expected to expand at a significant growth rate during the projected period. Stevia has zero calories and it is beneficial for diabetic patients to maintain their sugar levels. Stevia has more sweetness than table sugar and has no artificial ingredients. It helps in normalizing metabolic processes, reduces appetite, normalizes blood pressure, strengthens the immune system, helps burn fat, improves digestion, and speeds up metabolic processes.

Regional Analysis

In terms of region, the global premium sugar free chocolate market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the projection period, due to increasing demand for sugar-free chocolate among the health-conscious population.

In addition, people prefer sugar-free chocolates, as they are helpful for brain health and mood because cocoa raises serotonin in the brain. Furthermore, the growing adoption of premium chocolates as a gifting option and the rising purchasing power of consumers are likely to boost the market in the region. However, Asia Pacific region is expected to hold a substantial share of the market due to the rising demand for premium and luxurious confectionery items.

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