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Gluten-free Chocolate Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global gluten-free chocolate products market was valued at USD 8.9 billion in 2021 and is expected to expand at a CAGR of 6.7% from 2022 to 2029. The increasing health consciousness among consumers and the rising prevalence of gluten intolerance and allergies are the major factors driving the demand for gluten-free chocolate products. Furthermore, the growing demand for gluten-free products from health-conscious consumers, especially millennials, is driving the market. Additionally, the growing demand for food products that are free from artificial ingredients is encouraging manufacturers to develop new products that are free from gluten and other artificial ingredients.
Manufacturers are also focusing on developing new gluten-free chocolate products with unique flavors, textures, and packaging, making them more appealing to consumers. For instance, in April 2021, Hershey’s launched a new range of gluten-free chocolate bars, Hershey’s Milk Chocolate and Hershey’s Cookies ‘n’ Creme Chocolate Bars, in the U.S. The new range of gluten-free chocolate bars offers the same great flavors and textures as the original products but are now gluten-free.
Furthermore, the growing demand for dark chocolate is expected to drive the market growth in the forthcoming years. Dark chocolate is considered to be a healthier alternative to other types of chocolate and is rich in antioxidants, vitamins, and minerals. With this, manufacturers are launching new products in the dark chocolate segment to meet the growing demand. For instance, in October 2021, Nestlé launched the KitKat Dark, a new gluten-free dark chocolate bar, in the U.S.
Additionally, the changing lifestyles of people and the increasing trend of gifting chocolates are likely to bolster the demand for gluten-free chocolates. Furthermore, the increasing disposable income of consumers and the rising demand for convenience foods are expected to fuel the market growth. Moreover, the growing demand for chocolates with unique flavors and health benefits is likely to propel the demand for gluten-free chocolates. For instance, in April 2021, Nestlé launched KitKat Chunky Caramel Brownie, a new gluten-free chocolate bar, in the U.S.
Product Insights
The dark chocolate segment is anticipated to expand at the highest CAGR of 8.0% over the forecast period. Increasing demand for healthier variants of chocolates is driving the market for dark chocolate. According to an article published by The Guardian, in January 2020, dark chocolate is considered to be the healthiest type of chocolate, as it contains less sugar, more cacao, and added health benefits. Furthermore, consumers are increasingly opting for dark chocolate due to its low sugar content and high antioxidant properties.
The milk chocolate segment held the largest market share of around 34.1% in 2020. The increasing popularity of milk chocolate among consumers of all ages is driving the market’s growth. Moreover, the introduction of various flavors and the availability of organic and gluten-free chocolates are providing ample opportunities for players in the market. According to an article published by Statista, in December 2020, the global sales of milk chocolate accounted for 36% of the total chocolate sales in 2020.
Distribution Channel Insights
The supermarkets and hypermarkets segment accounted for the largest share of the gluten-free chocolate products market in 2022. The growth of the segment is mainly driven by the rising popularity of online grocery stores, which have enabled consumers to purchase a wide variety of gluten-free chocolate products. Additionally, supermarkets & hypermarkets offer convenience and a greater selection of gluten-free chocolate products as compared to other channels.
The e-commerce segment is anticipated to expand at the highest CAGR of 13.1% during the forecast period. This is mainly due to the increasing number of gluten-free chocolate products being sold through online channels. Additionally, the growth of e-commerce has been driven by the convenience it offers in terms of hassle-free shopping and doorstep delivery of products. Moreover, the increasing penetration of mobile phones and internet facilities across the globe has further boosted the growth of e-commerce.
Type Insights
The dark chocolate segment accounted for the largest revenue share of 49.2% in the year 2022. The growing awareness about the health benefits of dark chocolate has been driving the segment. Dark chocolate is rich in antioxidants, minerals and vitamins that are beneficial for health, such as calcium, magnesium, iron, fiber, and potassium. Furthermore, the increasing demand for dark chocolate due to its low sugar content and presence of a high amount of cacao is expected to drive the segment during the forecast period.
The milk chocolate segment is projected to expand at the highest CAGR of 10.2% during the forecast period. This is attributed to the increasing preference for milk chocolate due to its sweet and creamy taste. Furthermore, manufacturers are focusing on the development of new flavors such as mint, caramel, coconut and other ingredients to attract more customers. For instance, in December 2018, the Hershey Company launched Hershey’s Gold, a caramelized creme bar with pretzels, peanuts, and a salty peanut butter flavor. Such new launches are likely to boost the segment during the forecast period.
Regional Insights
Europe dominated the market and accounted for the largest revenue share of over 33.4% in 2022. The region is home to leading market players, such as Nestlé, Mondelez International, and Mars, Inc., which have been offering a wide range of gluten-free chocolate products for many years. Rising awareness about the health benefits of gluten-free products is driving the demand for gluten-free chocolate products in the region. Moreover, increasing trend of snacking among consumers is further expected to boost the market growth in the region.
North America is expected to witness the fastest growth in the coming years. The U.S. is the major contributor to the growth in the region. Increasing demand for gluten-free food products among health-conscious consumers is driving the market growth in the region. Moreover, the presence of leading market players, such as Hershey Co., is further expected to boost the market growth in the region. For instance, in March 2021, Hershey Co. launched Hershey’s Gluten-Free Chocolate Candy Bars in the U.S.
Financial Projections
In this part of the Gluten-free Chocolate Products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your Gluten-free Chocolate Products business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a Gluten-free Chocolate Products business comes from the sale of products, online sales, and wholesale distribution. Here you will find a list with a description of each of them and other possible sources of profit such as subscription services, catering services, and special events.
Projecting Expenses
In this section, all the regular expenses related to keeping the Gluten-free Chocolate Products business running will be described. The list of operating expenses includes raw material costs, packaging costs, advertising and promotional costs, shipping and fulfillment costs, wages, utilities, insurance policies, and others.
Key companies & market share insights
Some of the leading companies operating in the gluten-free chocolate market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In March 2022, Hershey’s launched a new range of gluten-free chocolate products.
– In October 2022, Nestle launched a new line of gluten-free chocolate bars.
– In November 2022, Mars Inc. launched a new range of gluten-free chocolate confectionery products.
Some of the prominent players in the gluten-free chocolate market include:
– The Hershey Company
– Nestle SA
– Mars, Inc.
– Mondelez International, Inc.
– Ghirardelli Chocolate Company
– Lindt & Sprungli AG
– The Ferrero Group
– Archer Daniels Midland Company
– Godiva Chocolatier
– Bissinger’s Handcrafted Chocolatier
Global Gluten-free Chocolate Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global gluten-free chocolate products market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Dark Chocolate
– Milk Chocolate
– White Chocolate
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Conventional
– Organic
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the Drivers of the Gluten-free Chocolate Products Market?
[A]: The gluten-free chocolate products market is primarily driven by factors such as increasing health awareness, rising demand for gluten-free products, and the emergence of innovative and exotic flavors. Additionally, the rising demand for convenience foods, increasing millennial population, and changing consumer preferences are contributing to the growth of the gluten-free chocolate products market.
[Q]: Who are the Leading Companies in the Gluten-free Chocolate Products Market?
[A]: Some of the leading companies in the gluten-free chocolate products market are Mars, Inc, Nestle S.A., The Hershey Company, and Mondelez International, Inc.
[Q]: What are the Key Trends in the Gluten-free Chocolate Products Market?
[A]: Some of the key trends in the gluten-free chocolate products market include the introduction of newer and innovative flavors, increasing demand for vegan-friendly products, and the growing demand for dark chocolate.
[Q]: What are the Opportunities for Growth in the Gluten-free Chocolate Products Market?
[A]: The gluten-free chocolate products market is expected to be driven by the rising demand for healthy snacks and the increasing number of health-conscious consumers. Additionally, the emergence of gluten-free chocolate products with functional benefits, such as improved digestion and weight management, is expected to create ample opportunities for market growth.
[Q]: What is the Regional Breakdown of the Gluten-free Chocolate Products Market?
[A]: The gluten-free chocolate products market is expected to be dominated by North America, followed by Europe and Asia Pacific. The US is expected to be the most attractive market for gluten-free chocolate products, due to the presence of major manufacturers and the increasing demand for convenience foods and snacks.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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