Low Calorie Chocolate Market Analysis, Size, Growth, Trends, Segmentation, Opportunity and Forecast to 2030

The global low calorie chocolate industry 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.

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.

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The marketing strategies adopted by the key market players also has a crucial role to player in influencing the customers' demand. Marketing strategy like story telling is the trending strategy. The consumers are highly captivated by the stories behind the products they buy and consume. The story behind the product may significantly influence the buying decision of the customer. The manufacturers and the processors of the chocolate products are paying utmost attention to storytelling in their branding strategies. Nestle Kit-Kat and Cadbury Bournville are the examples of chocolate brands that uses storytelling strategies.

The low calorie chocolate market is gaining rapid traction among the global consumers owing to the health benefits associated with the consumption of chocolate along with the low calorie content in the chocolate. Low calorie chocolate offers a healthier alternative to the regular chocolates. The low calorie chocolate market is driven by the rising prevalence of obesity among the adults and children across the globe. The rising health consciousness among the global population is fostering the demand for the low calories chocolates. Further, the demand for the organic low calorie chocolate is rapidly surging in the developed markets like North America and Europe. The organic segment is expected to drive the low calorie chocolate market in the foreseeable future.

The marketing strategies adopted by the key market players also has a crucial role to player in influencing the customers' demand. Marketing strategy like story telling is the trending strategy. The consumers are highly captivated by the stories behind the products they buy and consume. The story behind the product may significantly influence the buying decision of the customer. The manufacturers and the processors of the chocolate products are paying utmost attention to storytelling in their branding strategies. Nestle Kit-Kat and Cadbury Bournville are the examples of chocolate brands that uses storytelling strategies.

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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. This may result in a price hike and will ultimately reduce the profit margin of the low calorie chocolate producers. Hence, the price fluctuations of the cocoa may hinder the low calorie chocolate market growth.

The market is segregated based on product, source, and distribution channel. Based on the product, the global low calorie chocolate 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 low calorie chocolate market is segmented into supermarket/hypermarket, convenience stores, specialty stores, and online sales channel.

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Based on region, the market across Europe held the lion's share in 2020, garnering nearly two-fifths of the global market. The market across Asia-Pacific, simultaneously, is expected to cite the fastest CAGR of 10.8% by the end of 2030.

The key market players analyzed in the global low calorie chocolate market report include Kraft Foods, The Hershey Company, Barry-Callebaut AG, Blommer Chocolate Company, Lindt & Sprungli, Ferrero SpA, Nestle S.A., Dreyer, Mondelez International, Breyers, Ben & Jerry's, Haagen Daaz. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.

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