New Technavio report: 28% of gluten-free chocolate market growth to originate in North America
The US is the key market for the gluten-free chocolate in North America
A new Technavio report reveals the state of the global gluten-free chocolate market from 2022-2026. As seen above, some of the most interesting predictions include: Market growth will decelerate at a CAGR of 7.16 percent. Incremental grown will increase $540.3 million. Growth contributed for North America will increase 28 percent. Grown for 2022 will increase 8.26 percent.
The US is the key market for the gluten-free chocolate in North America, and 28% of gluten-free chocolate market growth to originate in North America between now and 2026.
That’s according to Technavio’s new "Gluten-free Chocolate Market by Product (Milk chocolate, Dark chocolate, and White chocolate) and Geography (North America, Europe, APAC, Middle East and Africa, and South America) - Forecast and Analysis 2022-2026" report.
The increasing gluten-sensitive population will facilitate the gluten-free chocolate market growth in North America over the forecast period.
However, factors such as the high price of gluten-free products will challenge market growth.
The potential growth difference for the gluten-free chocolate market between 2021 and 2026 is $540.3 million.
Milk chocolate is expected drive significant growth in the category. Milk chocolate generally contains 10-20 percent cocoa solids and dried milk solids in the form of milk powder and is one of the most popular and common types of chocolate. The mixing of cocoa solids with milk solids, sugar, and cream during the manufacturing process gives milk chocolates a relatively smoother and creamier texture and taste as compared to dark chocolates.
The gluten-free chocolate market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market vendors, including:
Alter Eco Americas Inc. - The company offers gluten-free chocolate such as Classic Grass Fed Milk, Salted Almonds Grass Fed Milk, and Rice Crisp Grass Fed Milk.
Mondelez International Inc. - The company offers gluten-free chocolate such as White Baking Mini Chips, Ricemilk Chocolate, Chocolate Bar, Dark Chocolate Bar, Semi-Sweet Bar, and Enjoy Bites.
NuGo Nutrition - The company offers gluten-free chocolate such as NuGo Dark Chocolate Almond, NuGo Dark Chocolate Pretzel, NuGo Dark Peanut Butter Cup, NuGo Dark Mocha Chocolate, NuGo Dark Raspberry Truffle, and NuGo Dark Caramel Pretzel.
Stivii Corp. - The company offers gluten-free chocolate such as original dark chocolate and pomegranate dark chocolate.
The Hershey Co. - The company offers gluten-free chocolate such as Heath Milk Chocolate English Toffee Candy Bars, Hershey’s Cocoa Special Dark 100 percent Cacao Cocoa, Mounds Dark Chocolate and Coconut King Size Candy Bar, and Reese’s Miniatures Dark Chocolate Peanut Butter Cups.
To purchase the full report, visit the Technavio website.
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