Latest 2021 Developments
Middle East Chocolate Market has seen the latest innovations which include the introduction of chocolate as a healthy product that offers many health benefits. Dark chocolate has large amounts of antioxidants, which can prevent certain diseases like cardiac arrests, blood clotting, etc. Other health benefits provided by chocolate include slow aging, reduction in headaches, mood enhancement, stress relief, etc. There has also been an increase in the unconventional usage of chocolate in various other food items like biscuits, bakery items, etc. Premium varieties of chocolate have also witnessed increased popularity as it is used as a gourmet ingredient by the upper class.
Mergers and Acquisitions:
- In January 2021, Mondelez International purchased Hu Master Holdings
- In May 2021, Mondelez International, Inc. acquired Chipita SA.
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Chocolate is consumed across the globe and is considered one of the most profitable confectionery products. The Middle East region is the key potential market for chocolate players. In the Middle East region, wide varieties of chocolates are available targeting different age and income groups. The health benefits offered by chocolate such as slow aging and prevention of certain diseases such as cardiac arrest surges the demand for chocolates with growing awareness amongst consumers. Further, the growing demand for customized chocolate is surging the chocolate market in the region.
According to 6Wresearch, the Middle East chocolate market is projected to grow at a CAGR of 4.2% in revenue terms during 2019-2025. The chocolate market is anticipated to register strong growth during the forecast period owing to high consumer spending on food products despite the slow economic growth. The chocolate market in the region is thriving due to changes in eating preferences and the availability of chocolate as a derived product for mousse, rolls, fudge, etc.
Saudi Arabia chocolate market is the largest industry that has increased heavily in the past few years due to the availability of a large variety of chocolates, the growing young population, and changing lifestyles of people. Continuous expansion and penetration of international players in the country are other key reasons for the growth of Saudi Arabia chocolate market. However, slow economic growth due to low oil prices has affected the local production of chocolate as operational costs for companies and raw material prices have increased over the past 2 years.
The surging disposable income coupled with changing snacking preferences of the consumers is proliferating the development of the market. Attractive packaging by the manufacturers backed by the rising foreign working population is adding to the Middle East Chocolate Market Share.
The Middle East chocolate market report comprehensively covers the market by product type, distribution channels, chocolate type, and key countries including Saudi Arabia, UAE, Turkey, and the Rest of the Middle East. The Middle East chocolate market outlook report provides an unbiased and detailed analysis of the Middle East chocolate market trends, Middle East chocolate market share, opportunities, high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
The Middle east chocolate market is projected to gain years on the back of the rising consumer base steadily. Especially teenagers being the foremost consumers but the enhanced flavors and product innovation is leading to attracting adults as well, as a result, is likely to bring in opportunities for the international players to invest in the emerging market, which has led to diversification the market landscape. Several key players that are operating in the middle east chocolate market include Nestle SA, the Hershey company, and Tiger brand limited.
Key Highlights of the Report
- Middle East Chocolate Market Overview
- Middle East Chocolate Market Outlook
- Middle East Chocolate Market Forecast
- Historical Data of Middle East Chocolate Market Revenues for the Period 2015-2018
- Middle East Chocolate Market Size & Middle East Chocolate Market Forecast of Revenues, Until 2025
- Historical Data of Middle East Chocolate Market Revenues, By Product Type, for the Period 2015-2018
- Market Size & Forecast of Middle East Chocolate Market Revenues, By Product Type, Until 2025
- Historical Data of Middle East Chocolate Market Revenues, By Distribution Channels, for the Period 2015-2018
- Market Size & Forecast of Middle East Chocolate Market Revenues, By Distribution Channels, Until 2025
- Historical Data of Middle East Chocolate Market Revenues, By Chocolate Type, for the Period 2015-2018
- Market Size & Forecast of Middle East Chocolate Market Revenues, By Chocolate Type, Until 2025
- Historical Data of Saudi Arabia Chocolate Market Revenues and Volume, for the Period 2015-2018
- Market Size & Forecast of Saudi Arabia Chocolate Market Revenues, Until 2025
- Historical Data of UAE Chocolate Market Revenues and Volume, for the Period 2015-2018
- Market Size & Forecast of the UAE Chocolate Market Revenues, Until 2025
- Historical Data of Qatar Chocolate Market Revenues and Volume, for the Period 2015-2018
- Market Size & Forecast of the Qatar Chocolate Market Revenues, Until 2025
- Market Drivers and Restraint
- Middle East Chocolate Market Price Trends
- Middle East Chocolate Market Trends and Industry Life Cycle
- Porter’s Five Force Analysis
- Market Opportunity Assessment
- Middle East Chocolate Market Share, By Countries
- Middle East Chocolate Market Share, By Players
- Middle East Chocolate Market Overview on Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Markets Covered
The Middle East chocolate market report provides a detailed analysis of the following market segments:
By Product Type
- Milk Chocolate
- White Chocolate
- Dark Chocolate
By Distribution Channels
- Supermarkets/ Hypermarkets
- Grocery/ Mom n Pop Stores
- Convenience Stores
- Online Channel
- Others (Specialized Retailers, pharmacy, etc.)
By Chocolate Type
- Count lines & Straight-lines
- Molded or Bar Chocolates
- Choco-panned & Sugar panned
- Others (Box chocolates, novelties)
By Countries
- Saudi Arabia
- Qatar
- UAE
- Rest of the Middle East
Other Key Reports Available:
- North America Chocolate Market Report
- Asia Pacific Chocolate Market Report
- Europe Chocolate Market Report
- Latin America Chocolate Market Report
