Chocolate is derived from cocoa, mixed cocoa butter and sugar or sugar substitutes to produce a solid confectionery. There are several types of chocolate, classified according to the proportion of cocoa used in a particular formulation.
Disposable income includes the personal income of households left after income taxes and which is available for spending as well as for saving. Increasing disposable income increases will boost consumer buying power and increases their willingness to pay. Asia-Pacific and other developing regions serve as the engine of global growth and exhibits an excellent further growth prospects for the global sugar-free chocolate market. Healthy growth and climbing income levels will continue to boost demand of sugar-free chocolate and product innovation. Rising middle class population in emerging markets such as Asia-Pacific and Latin America are raising the customer expectations resulting in resetting strategic imperatives for industrial manufacturers in these regions. These factors will support the growth of sugar-free chocolate market, and will grow at a CAGR of 6.85%
The emerging market opportunities for sugar-free chocolate appear to be conducive for the acceptance of convenience food in Middle East and Latin America. It is principally useful in the challenging environments, where resources are insufficient and cultivation is tough, hence demand for processed in region especially where water resource is also scarce. Sugar-free chocolate are premium food product, however consumers are ready to pay the premium price for healthy food products.
Key players in the global sugar-free chocolate market are emphasizing to enhance their investment in product development in order to extend the product line. Also, the companies are also inclined to increase their footprint across the world by acquiring local and regional players. Apart from that, the companies are introducing their products in the developing economies in order to penetrate in the untapped market.
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Major Key Players:
This report includes a study of strategies used in the market, mergers and acquisitions, multiple product launch by sugar-free chocolate market players. It further includes product portfolios and developments of leading major players which includes
- Think Thin (U.S.)
- Guilin (Belgium)
- Ghirardelli Chocolate Company (U.S.)
- Hershey (U.S.)
- Godiva Chocolatier (U.S.)
- Lindt & Sprüngli (France)
- Russell Stover (U.S.)
Sugar-Free Chocolate Market is dominated by key manufacturers and very few new players are entering in sugar-free chocolate market due to high investment cost require for, sugar-free chocolate food safety testing, certification and sugar-free chocolate processing. The global sugar-free chocolate industry is expected to witness increase in mergers, acquisition and strategic alliance in upcoming years.
- Retailers and wholesalers
- E-commerce companies
- Traders, importers and exporters
- Sugar-free chocolate manufacturers
- Sugar substitutes manufacturers
- Raw material suppliers
- End users (food industry)
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- The Dark sugar free chocolate segment is projected to register the higher growth rate during the forecast period of 2017 to 2023.
- In APAC region China dominates the market, followed by Thailand
Non- Store based segment is anticipated to account the maximum market share in the Global sugar-free chocolate market throughout the forecast period of 2017-2023.
Source : http://heraldkeeper.com/