Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Gluten-free Chocolate market.
Trusted Business Insights presents an updated and Latest Study on Gluten-free Chocolate Market. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Gluten-free Chocolate market during the forecast period.
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Industry Insights, Market Size, CAGR, High-Level Analysis: Gluten-free Chocolate Market
The global gluten-free chocolate market size was estimated at USD 1.40 billion in 2018 and is expected to register a CAGR of 7.8% over the forecast period. Increasing prevalence of celiac disease is the key factor driving the product demand. The National Institutes of Health classifies celiac disease as a common disease; thus, increasing number of individuals suffering from this disease is contributing to the market growth.
Moreover, gluten-free chocolates are a healthier option than the usual chocolates, which is also driving their demand. On the other hand, rising concerns regarding a large number of undiagnosed cases of individuals with gluten allergy or gluten intolerance may have a negative impact on the market growth over the coming years.
The region is marked with the presence of a number of key manufacturers, which drives the market further. Some of these companies include Hersheys and Nestle, which are the largest contributors in the U.S. market. They focus more on providing high-quality products by using latest production techniques, which is also driving the regions growth.However, constant product innovation, in terms of flavors, by major companies will augment the product demand. Led by U.S., the market in North America is expected to witness the maximum growth over the forecast period. This can be attributed to the factors, such as high standards of living and health consciousness among consumers.
Type Insights of Gluten-free Chocolate Market
On the basis of type, the market is classified into dark, milk, white, and other chocolates. White chocolate segment is anticipated to witness the fastest CAGR from 2021 to 2026. On the other hand, gluten-free dark chocolate segment holds the largest share of the global market owing to its rising popularity across the globe. In addition, increasing awareness regarding the health benefits of dark chocolate, such as lowered levels of stress and risks of neurodegenerative disorders like Alzheimers disease, will boost the demand further. Other benefits include improved blood circulation, memory, and ability to focus and lowered anxiety levels.
Distribution Channel Insights
On the basis of distribution channel, the market has been bifurcated into retail & supermarket store and online platform. The retail and supermarket segment is anticipated to hold the largest share in the market by 2025. It is also projected to register the fastest CAGR from 2021 to 2026. This is mainly due to the consumers inclination towards one-stop shopping experience. Increasing disposable income in the developing countries of Asia Pacific is also expected to boost segment growth.
The online distribution channel is also anticipated to experience high growth rate over the forecast period owing to the rising usage of advanced technologies. In addition, growing popularity of e-commerce sites, such as Amazon, due to increased number of internet and smartphone users across the globe, is said to boost the product sales through online platforms. This, in turn, will augment the growth of the online segment.
Regional Insights of Gluten-free Chocolate Market
North America held the largest share of the global market in 2018 and is projected to continue to be the leading market over the forecast period. This growth is attributed to the rising demand for gluten-free products in countries, such as U.S. and Canada, on account of increasing cases of celiac disease. In addition, major manufacturers in these countries are focusing more on the development of high-quality, products using latest production techniques, which will contribute to the regions growth. Europe also holds a considerable share in the global market and is expected to be the second-largest regional market over the forecast period. U.K. and Germany are the major contributors in the Europe market. On the other hand, Central & South America is projected to register the fastest CAGR from 2019 to 205.
Market Share Insights of Gluten-free Chocolate Market
Some of the prominent companies in this market are Endangered Species, EnviroKidz, Alter Eco, NibMor Daly Dose, Taza Chocolate, NuGo, Schar, and Raw Revolution. Most of them are focusing more on several supply chain strategies, M&A, and product innovation for business expansion purposes. For instance, In January 2018, NibMor launched a new gluten-free, bite-sized organic dark chocolate with wild maine blueberries and 72% of cocoa.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Gluten-free Chocolate Market Research Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the gluten-free chocolate market report on the basis of type, distribution channel, and region.
Type Outlook (Revenue, USD Million, 2019 – 2030)
Distribution Channel Outlook (Revenue, USD Million, 2019 – 2030)
Retail and Supermarket
Quick Read Table of Contents of this Report @ Gluten-free Chocolate Market Size, Share, Market Research and Industry Forecast Report, 2020-2026 (Includes Business Impact of COVID-19)
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