Dubai acquired the largest market revenue share in the UAE chocolate market – 6Wresearch
UAE chocolate market witnessed significant growth in the period of 2018-2021 on account of growing retail sector and increasing demand from growing hospitality and tourism sector. Furthermore, demand from airline services, serving 11 million pieces of chocolates a year on its flights along with hotels offering chocolates to its guests as a welcome token has boosted the demand for chocolates. However, the COVID-19 pandemic affected the market revenues during the year 2020 owing to the lockdown, subsequent supply chain disruptions and trade restrictions along with delays in production processes.
According to 6Wresearch, UAE Chocolate Market size is projected to grow at CAGR of 8.4% during 2022-28. UAE chocolate market is expected to register spurring growth in future on account of rising demand from hospitality sector and increasing number of international visitors post-COVID. Additionally, ongoing construction of hotel and commercial market space projects would drive the market growth positively during the forecast period.
According to Rakshita Joshi, Research Associate, 6Wresearch, “By product types, Milk chocolate segment dominated the UAE chocolate market revenues in 2021 on account of it being manufactured and sold in a large variety of offerings by key market players coupled along with high consumer preference. However, dark chocolate is anticipated to register fastest growth during the forecast period owing to its unique taste as it contains more cocoa content and less sugar. Additionally, rising health concerns among people and numerous health benefits offered by dark chocolates makes it more preferrable type by adult population.”
According to Akash Sharma, Manager, 6Wresearch, “Dubai would dominate the UAE chocolate market in the forthcoming period on the back of its strong tourism and hospitality sector coupled with increasing retail sales in the emirate which is expected to reach $70.5 billion by 2025. Additionally, the construction of upcoming 142 hotel projects in Dubai by 2024 and the region’s focus to increase its tourism capacity by 134%, by 2040 would generate demand for chocolates from international arrivals thereby aiding the growth of UAE chocolate market in the coming years”, Akash further added.
“UAE Chocolate Market (2022-2028)” report provides an in-depth analysis with 35 figures and 5 tables, covered in 87 pages. The report estimates and forecast the overall UAE chocolate market by product types, chocolate types, sales channels, and regions. The report provides an unbiased and detailed analysis of the on-going trends, 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.
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