Pune, India, Jan. 24, 2022 (GLOBE NEWSWIRE) -- The global North America sugar-free chocolate market size is expected to touch USD 391.8 million by 2028, exhibiting a CAGR of 5.42% during the forecast period. The market value stood at USD 242.0 million in 2020 and reached USD 270.7 million in 2021. Increasing health awareness and rising cases of diabetes globally are expected to boost the market growth. Fortune Business Insights™ mentions this information in its report titled “North America Sugar-Free Chocolate Market, 2021-2028.”
Sugar-free chocolate is a healthier and low-calorie snack with antioxidants, increasing its demand. Rising awareness regarding good health led to the adoption of healthier snacks, thereby increasing the adoption of sugar-free chocolates. Rising per-capita income and evolving buying preferences led to the adoption of healthy food alternatives in North America, which, in turn, may boost the product’s sales. Furthermore, rising cases of diabetes lead to the adoption of sugar-free food, which in turn may positively impact the industry. As per the International Diabetes Federation, nearly 463 million adults suffer from diabetes, which is expected to spike drastically. Therefore, these factors are likely to spike the market’s progress in the upcoming years.
COVID-19 Impact
Rising Demand for Healthy Comfort Foods to Fuel Market Progress
The North American sugar-free chocolate sector is expected to be positively impacted by the COVID-19 pandemic because of the rising demand for healthy comfort foods. Rising consumer preferences for a healthier lifestyle and snacking may boost the demand for the product. Further, the adoption of reduced capacities, part-time shifts, and production machinery may boost the market’s growth during the pandemic. Moreover, rising cases of diabetes led to the adoption of sugar-free alternatives, thereby promoting industry growth during the pandemic.
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Fortune Business Insights™ lists out all the North America sugar-free chocolate market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:
- The Hershey Company (Pennsylvania, U.S.)
- Ferrero SpA (Alba, Italy)
- Chocoladefabriken Lindt & Sprüngli AG (Kilchberg, Switzerland)
- Godiva Chocolatier (Midtown Manhattan, U.S.)
- KOHLER Co. (Wisconsin, U.S.)
- Jackie’s Chocolate (Wisconsin, U.S.)
- Pascha Chocolate (Toronto, Canada)
- Pobeda Confectionery Ltd. (Moscow, Russia)
- Asher's Chocolate Company (Pennsylvania, U.S.)
- Barry Callebaut AG (Zürich, Switzerland)
Report Coverage
The North America-sugar free chocolate sector report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
Drivers and Restraints
Rising Awareness Regarding the Benefits of Sugar-Free Chocolates to Incite Market Growth
Rising shift to healthier foods, rising per-capita income, and evolving preferences fuel demand for healthier food products. Rising trends of healthy snacking have led to the adoption of sugar free chocolates, which, in turn, may propel sales. Manufacturers focus on the development of products that adhere to consumers’ demands. For example, As per the International Food Information Council's Food and Health Survey in 2020, approximately 76% of U.S. consumers look forward to eliminating sugar intake from their diets. Furthermore, incorporating the product in muffins, puddings, cakes, and others is expected to boost sugar-free chocolate. These factors are likely to drive the North America sugar free chocolate market growth.
However, higher production and raw material costs may hinder the market’s progress.
Country Insights
High Chocolate Consumption Among the U.S. Population to Foster Market Development in U.S.
U.S. is expected to dominate the North America sugar-free chocolate market share because of the rising consumption of chocolates in the U.S. Rising obesity is expected to boost the adoption of chocolate in the country. As per the information provided by the Centers for Disease Control and Prevention (CDC), diabetes cases touched 42.4% in 2018 compared to 30.5% in 2000.
Canada is expected to be driven by the consumption of locally produced premium chocolates. Further, in Toronto, approximately 20 chocolatiers aim to differentiate their product range. In addition, festivals such as Christmas, Thanksgiving, Easter, and others are likely to boost sugar free chocolate adoption.
Segments
By product type, the market is segmented into white chocolate, dark chocolate, and milk chocolate.
By distributional channel, it is classified into online retail, convenience stores, specialty stores, and supermarkets/hypermarkets. By country, it is grouped into U.S., Canada, and Mexico.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/north-america-sugar-free-chocolate-market-106285
Competitive Landscape
Major Players Launch Novel Products to Boost Market Position
Prominent companies operating in the North America sugar free chocolate sector sector launch novel products to attract consumers and boost their market position. For example, in June 2021, Russel Stover Chocolates, a brand owned by Lindt & Sprungli AG, announced its Joy Bites chocolate bars. It is a sugar free chocolate made from Fairtrade cocoa and sweetened using stevia extract. This launch may enable the company to attract consumers and boost its market position. Furthermore, the adoption of research and development may enable manufacturers to develop innovative chocolates with flavors to attract consumers’ attention and improve their brand image.
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Overview on the Prent/Related Market
- Analysis on U.S. Non-Chocolate/Sugar Confectionery Market
- Factors Impacting Consumers’ Buying Behaviour
- Supply Chain & Regulatory Analysis
- Industry SWOT Analysis
- Recent Industry Developments - Policies, Mergers & Acquisitions, and
- New Product Launches
- Market Analysis and Insights (in Relation with COVID-19)
- Impact of COVID-19 on the Market
- Supply Chain Challenges due to the Pandemic
- Potential Opportunities to Support the Market during the North America Crisis
- North America Sugar-free Chocolate Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Product Type (Value)
- Milk Chocolate
- Dark Chocolate
- White Chocolate
- By Distribution Channel (Value)
- Supermarkets/Hypermarkets
- Convenience Stores
- Specialty Stores
- Online Retail
- By Country (Value)
- S
- By Product Type (Value)
- Milk Chocolate
- Dark Chocolate
- White Chocolate
- Canada
- By Product Type (Value)
- Milk Chocolate
- Dark Chocolate
- White Chocolate
- Canada
- By Product Type (Value)
- Milk Chocolate
- Dark Chocolate
- White Chocolate
- By Product Type (Value)
- By Product Type (Value)
- By Product Type (Value)
- S
- By Product Type (Value)
- Overview on the Prent/Related Market
TOC Continued…!
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Key Industry Development
- July 2021: Kohler Co., a leading organization in the North America sugar-free chocolate sector announced their latest handmade and sugar free chocolate containing enhanced cocoa and premium ingredients. The flavors are available in nine, four, and two pieces and are extremely healthy.
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Milk Chocolate Market Size, Share & Industry Analysis, By Form (Candies, Bars, Chocolate Coated Nuts, Chocolate Chips, Others), By Nature (Conventional, Organic), By Distribution Channel (Hypermarkets/Supermarkets, Retail Stores, Specialty Stores, Online Channels) and Regional Forecast, 2022-2029
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