The global low calorie chocolate market size was valued at $ 894.7 in 2020, and is estimated to reach $ 2,115.2 by 2030, registering a CAGR of 9.8% from 2021 to 2030.
The rising prevalence of obesity among the global population is boosting the demand and consumption of low calorie chocolates. According to the World Health Organization, around 1.9 billion adults were overweight and 650 million of them were obese in 2016, across the globe. The obese population tripled since 1975. Not only adults but the prevalence of obesity is also surging among the children. Around 39 million global children population were either overweight or obese in 2020. Therefore, the rising prevalence of obesity among the children and adults is significantly driving the global low calorie chocolate market growth.
In chocolate and praline products, around 25% to 40% of the total weight of the product consists of fat content. The fat content in chocolate majorly depends on the variety of the chocolate such as milk chocolate, dark chocolate, and plain chocolate. The high fat content in the regular chocolate has compelled the health conscious consumers to opt for low calorie chocolates. The rising health consciousness among the consumers, rising disposable income, rising awareness regarding the availability of low calorie chocolate, and rising investments in research & development by the players to develop a chocolate that has low calorie while maintaining the perfect taste and aroma of the chocolate are various factors boosting the growth of the low calorie chocolate market.
The outbreak of the COVID-19 pandemic had a negative impact on the low calorie chocolate market. It resulted in a significant decline in the impulse buying and on-the-go consumption of low calorie chocolate owing to the travelling restrictions and lockdown measures implemented by the government. Further, the raw materials for chocolate production were inadequately available that hampered the production of the low calorie chocolate market.
According to the low calorie chocolate market analysis, the market is segregated based on product, source, and distribution channel. Based on the product, the global market is segmented into dark chocolate, white chocolate, and milk chocolate. Based on the source, it is categorized into organic and conventional. On the basis of distribution channel, the market is segmented into supermarket/hypermarket, convenience stores, specialty stores, and online sales channel.
Dark segment held the major share of 52.3% in 2020
Based on the region, the low calorie chocolate market is analyzed across North America (U.S., Canada, and Mexico), Europe (The Netherlands, Germany, Belgium, France, UK, Italy, Spain, Switzerland, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, UAE, and rest of LAMEA).
According to the low calorie chocolate market forecast, on the basis of product, the dark chocolate dominated the low calorie chocolate 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.
Conventional segment held the major share of 91.2% in 2020
As per the low calorie chocolate market trends, the organic segment is expected to be the fastest-growing segment because a rapid surge in the demand for the organic food products has been registered in U.S. in 2020 and growing demand for the organic chocolate in Europe is fostering the organic sales.
According to the low calorie chocolate market opportunities, the online segment is estimated to grow at a rapid rate owing to the rising adoption of smartphones, growing penetration of internet, rising popularity of online groceries, and convenience associated with the online channels. Specialty stores segment accounted for the largest market share in 2020 owing to its increased penetration in developed markets and immense popularity among the consumers.
By Distribution Channel
Specialty Stores segment held the major share of 34.6% in 2020
Based on the region, Europe dominated the market, accounting for 42.1% of the global 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.
Players operating in the low calorie chocolate market have used a variety of developmental strategies to expand their market share, exploit the processed meat market opportunities, and boost market profitability. The key players profiled in this report for low calorie chocolate market include 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.
Europe segment held the major share of 42.1% in 2020
Key Benefits For Stakeholders
- The report provides a quantitative analysis of the current market trends, estimations, and dynamics of the market size from 2020 to 2030 to identify the prevailing opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis and the market size and segmentation assist to determine the prevailing market opportunities.
- The major countries in each region are mapped according to their revenue contribution to the market.
- The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the low calorie chocolate industry.
Low Calorie Chocolate Market Report Highlights
By DISTRIBUTION CHANNEL
Key Market Players
The Hershey Company, Haagen Daaz, BARRY CALLEBAUT AG, Blommer Chocolate company, Raaka, Kraft Heniz Company, Nestlé S.A, Ben & Jerry's, Lindt & Sprungli
According to insights of the CXOs of leading companies, fad diet tends to be more appealing. People are more concerned to lose inches and pounds rather than reducing the risk of heart disease and diabetes that make fad diets most popular among the population. Majority of the population is concerned about their appearances, hence, most of the people are following fad diet. Low calorie chocolates meet the requirements of individual following of fad diets, as it contains low carbohydrate and no sugar. Most of the people perceive that low calorie food products are a healthy option for them, which is not in some cases. Low calorie chocolate may decrease bad cholesterol levels and the risk of heart disease. Therefore, the perception of consumers regarding low calorie labelled products is expected to propel the growth of global low calorie chocolate market during the forecast period.
The CXOs further added that the online distribution channel is expected to become a significant part of the low calorie chocolate market. This is attributed to the fact that the outbreak of the COVID-19 pandemic changed the buying pattern of consumers across the globe. The demand for high quality chocolates in developing regions is driving the demand for low calorie chocolates. Furthermore, the growing application of chocolates in industries such as food & beverages and confectionery is boosting the growth of the global low calorie chocolates market.