According to the report published by Allied Market Research, the global Low Calorie Chocolate Market was estimated at $894.7 million in 2020 and is expected to hit $2.11 billion by 2030, registering a CAGR of 9.8% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
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Growing popularity of low calorie food products and rising demand for healthy confectionery in the developed economies propel the growth of the global low calorie chocolate market. On the other hand, dynamic price fluctuations of cocoa beans and lack of awareness in the developing as well underdeveloped regions impede the growth to some extent. However, rising importance of organic food products is expected to create lucrative opportunities in the industry.
Leading Key Companies Involved In Red Wine Market
Nestle S.A.
Kraft Foods
The Hershey Company
Barry-Callebaut AG
Blommer Chocolate Company
Lindt & Sprungli
Ferrero SpA
Breyers
Mondelez International
Ben & Jerry’s, Haagen Daaz, and Dreyer.
Regional Outlook
Based on the region, Europe dominated the market, accounting for 42.1% of the market share in 2020. This is attributed to the high demand for the chocolate coupled with rising health consciousness and rising prevalence of obesity. Asia-Pacific is estimated to be the fastest-growing due to rising disposable income, rising health consciousness, and rising awareness regarding the availability of low calorie chocolates, during the forecast period.
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According to the low calorie chocolate market forecast, on the basis of product, the dark chocolate dominated the market, garnering a significant 52.3% of the global low calorie chocolate market share in 2020. This is attributable to the addition of new flavors to low calorie dark chocolate that has become a growing trend, in addition to its health benefits. The milk chocolate segment is expected to be the fastest-growing segment as milk chocolate can be consumed by children as it provides nutrition to improve health.
Key Benefits of the Report:
- The low calorie chocolate market was valued at $894.7 million in 2020, and is estimated to reach $2,115.2 million by 2030, growing at a CAGR of 9.8% during the forecast period.
- By product, the milk chocolate segment is estimated to witness the fastest growth, registering a CAGR of 10.5% during the forecast period.
- In 2020, depending on source, the conventional segment was valued at $816.1 million, accounting for 91.2% of the global share.
- In 2020, the U.S. was the most prominent market in North America, and is projected to reach $568.2 million by 2030, growing at a CAGR of 9.9% during the forecast period
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The price fluctuations of the major raw material may hinder the market growth in the foreseeable future. Cocoa is a major raw material used for the production of chocolates all around the globe. As per the data published by the International Cocoa Organization in 2020, the price of the cocoa is rising at the rate of around 20% year-on-year basis. According to the International Cocoa Organization, the production cap by West African countries and unfavorable weather conditions had created a gap between the demand and supply of cocoa.
Check out more related studies published by AMR Research:
Chocolate Confectionery Market – https://www.alliedmarketresearch.com/chocolate-confectionery-market-A27762
Dark Chocolate Market – https://www.alliedmarketresearch.com/dark-chocolate-market-A11003
Sugar Confectionery Market – https://www.alliedmarketresearch.com/sugar-confectionery-market
Cocoa Market – https://www.alliedmarketresearch.com/cocoa-market-A11007
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