Global Sugar-Free Chocolate Syrup Market Size To Exceed USD 1.34 Billion By 2033 | CAGR of 8.92%
Category: Food & BeveragesGlobal Sugar-Free Chocolate Syrup Market Size To Exceed USD 1.34 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Sugar-Free Chocolate Syrup Market is Expected to Grow from USD 0.57 Billion in 2023 to USD 1.34 Billion by 2033, at a CAGR of 8.92% during the forecast period 2023-2033.
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Browse key industry insights spread across 256 pages with 114 Market data tables and figures & charts from the report on the "Global Sugar-Free Chocolate Syrup Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Liquid Sugar-Free Chocolate Syrup and Powdered Sugar-Free Chocolate Syrup), By Application (Dessert & Confectionery, Beverages, Bakery, Others), By Distribution Channel (Online Retail, Supermarkets & Hypermarkets, Specialty Stores, Convenience Stores), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/sugar-free-chocolate-syrup-market
The sugar-free chocolate syrup market is the segment of the industry that comprises syrups derived from chocolate flavoring with no added sugar. The syrups are usually sweetened using sugar substitutes such as stevia, erythritol, or monk fruit to give the same rich chocolate flavor but for consumers looking to cut down on their sugar consumption. Sugar-free chocolate syrups are widely employed in numerous applications, including dessert toppings, beverages, and as a bakery or cooking ingredient. The trend is fueled by rising health awareness, the escalating incidence of diabetes and other lifestyle diseases, and the need for low-calorie, sugar-free versions in both food and beverage industries. Moreover, consumers are looking for products that use natural, non-sugar sweeteners such as stevia, monk fruit, or erythritol. These options are viewed as healthier than artificial sweeteners. Consumers are more likely to buy products with few, natural ingredients and no additional chemicals or preservatives. This trend increases the popularity of sugar-free chocolate syrups with clear labeling. However, sugar-free chocolate syrups generally contain alternative sweeteners (such as stevia, erythritol, or monk fruit), which tend to be costlier than common sugar, and the method of preparing the syrups is generally more complicated and therefore creates a greater cost.
The liquid sugar-free chocolate syrup segment accounted for the highest share in 2023 and is projected to grow at a substantial CAGR during the forecast period.
Based on the product type, the sugar-free chocolate syrup market is divided into liquid sugar-free chocolate syrup and powdered sugar-free chocolate syrup. Among these, the liquid sugar-free chocolate syrup segment accounted for the highest share in 2023 and is projected to grow at a substantial CAGR during the forecast period. The segmental growth is due to liquid sugar-free chocolate syrups, convenient and ready for use directly from the bottle, allowing the consumer a pouring pleasure over dessert, ice cream, pancakes, or filling milkshakes and coffees. This availability makes them a preferred option over powdered alternatives.
The dessert & confectionery segment accounted for the majority share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the application, the sugar-free chocolate syrup market is divided into dessert & confectionery, beverages, bakery, and others. Among these, the dessert & confectionery segment accounted for the majority share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The growth is driven by the fact that sugar-free chocolate syrup is widely used as a topping for virtually any dessert, including ice cream, pudding, cakes, and pancakes. Consumer health awareness has escalated, with an increasing number seeking sugar-free alternatives for their favorite desserts. This has triggered interest in sugar-free chocolate syrup demand in this category.
The supermarkets & hypermarkets segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on the distribution channel, the sugar-free chocolate syrup market is divided into online retail, supermarkets & hypermarkets, specialty stores, and convenience stores. Among these, the supermarkets & hypermarkets segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The growth is attributed to customers who tend to shop in supermarkets and hypermarkets because they can acquire several grocery items, including sugar-free chocolate syrups, in a single place. This convenience provides these retail stores with the position of the preferred channel for numerous customers.
North America holds the majority share of the global sugar-free chocolate syrup market during the forecast period.
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North America holds the majority share of the global sugar-free chocolate syrup market during the forecast period. North America, and more specifically the United States, has a high and increasing health-aware consumer segment. With increasing awareness of the ill impacts of sugar on health, most consumers are switching over to sugar-free products, among them syrups, and thus it is the biggest market for sugar-free chocolate syrup.
Asia Pacific is estimated to grow at the fastest pace in the global sugar-free chocolate syrup market during the forecast period. Increased use of Western diets, such as desserts and drinks that incorporate chocolate syrup, has also increased demand for sugar-free products in the APAC market. Furthermore, keto and low-carb diets are increasingly gaining popularity, which is consistent with the rising intake of sugar-free chocolate syrups.
Major vendors in the global sugar-free chocolate syrup market are Nestlé, R. Torre & Co. (Torani), Hershey, The J.M. Smucker Company, American Garden, Amoretti, Bosco Products, DaVinci Gourmet, H. Fox & Co., Monin, Sonoma Syrup, Tropicana Slim, Walden Farms, Wildeess Family Naturals, Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Key Market Development
- In August 2021, Enlightened came out with a new sugar-free chocolate syrup brand. The syrup consists of corn fiber, cocoa, water, salt, citric acid, and natural flavor. It has erythritol and monk fruit used as sweeteners. In comparison to standard chocolate syrups that contain as much as 10 g of sugar and 12 g of net carbs, a tablespoon of this syrup contains only 20 calories, 9 g of fiber, 1 g of net carbs, and no sugar.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the sugar-free chocolate syrup market based on the below-mentioned segments:
Global Sugar-Free Chocolate Syrup Market, By Product Type
- Liquid Sugar-Free Chocolate Syrup
- Powdered Sugar-Free Chocolate Syrup
Global Sugar-Free Chocolate Syrup Market, By Application
- Dessert & Confectionery
- Beverages
- Bakery
- Others
Global Sugar-Free Chocolate Syrup Market, By Distribution Channel
- Online Retail
- Supermarkets & Hypermarkets
- Specialty Stores
- Convenience Stores
Global Sugar-Free Chocolate Syrup Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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