Saudi Arabia Chocolate Market (2023-2029) | Analysis, Size, Share, Trends, Growth, Revenue, Forecast, industry, Outlook & COVID-19 IMPACT

Topics Covered in the Saudi Arabia Chocolate Market

Saudi Arabia Chocolate Market report thoroughly covers the market by type, by product, and by distribution channel and regions. The market outlook report provides an unbiased and detailed analysis of the ongoing market 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.

Saudi Arabia Chocolate Market Synopsis

Saudi Arabia Chocolate Market is expected to grow in the forecast year on the back if increasing Growing investments in product innovation coupled with distribution channel development of manufacturers are some of the major factors responsible for the growth of the chocolate market. Additionally, the rising young population and increasing spending by companies on marketing and packaging the product to attract customers would positively influence the market growth. Growing infrastructural investments in the construction of hypermarkets and supermarkets would push the market growth on account of the rising demand for chocolates together with increasing impulse purchasing from hypermarkets.

According to 6Wresearch, the Saudi Arabia Chocolate Market Size is estimated to grow at a CAGR of 4.9% during the forecast period 2023-2029. Growing awareness regarding the health benefits of dark chocolate and increasing disposable income among middle-income consumers would spur the demand for chocolates. The growing tourism sector in Saudi Arabia would complement the growth of the chocolate market over the coming years. Further, shifting consumer perception toward quality and custom products would spur the demand for chocolates in Saudi Arabian Market.  The innovation in chocolate products has played a pivotal role in driving market growth. Manufacturers have introduced new flavours, formulations, and packaging to appeal to the evolving palates of Saudi consumers. Health-conscious options, such as dark chocolate with reduced sugar content, have gained popularity among those seeking healthier indulgences. There are certain challenges prevalent in the Chocolate Market in Saudi Arabia. One of the primary challenges is the seasonality of chocolate consumption. Chocolate sales tend to peak during special occasions and holidays, leading to fluctuations in demand throughout the year. To address this challenge, manufacturers often introduce seasonal promotions and marketing campaigns to maintain steady sales. Additionally, competition from alternate snacks and confectionery products, such as traditional Arabian sweets and dates, poses a challenge to the chocolate market. Consumers in Saudi Arabia have a wide range of sugary treats to choose from, and chocolate faces competition in this varied landscape.

Government policies and schemes introduced in the Saudi Arabia Chocolate Market 

The Saudi Arabian government has applied numerous policies and guidelines to direct the chocolate market within the country. These policies primarily focus on ensuring the quality and safety of chocolate products for consumers. Producers and suppliers are required to adhere to strict food safety and labelling standards, ensuring that chocolate products meet rigorous quality control measures. Additionally, the government promotes local manufacturing and has taken steps to encourage investment in the confectionery industry, fostering domestic production capabilities and reducing reliance on imports. These initiatives align with broader economic diversification goals, create employment opportunities, and enhance the competitiveness of the Saudi Arabia Chocolate Industry.

The Impact of COVID-19 on the Saudi Arabia Chocolate Market

The COVID-19 pandemic had a noteworthy influence on the Saudi Arabia chocolate market as the market is a part of the Middle East Chocolate Market. During the initial phases of the pandemic, lockdowns and social distancing measures temporarily disrupted traditional retail sales channels, leading to a decline in in-store chocolate purchases. However, as consumers adapted to pandemic conditions and spent more time at home, there was a noticeable surge in online chocolate sales through e-commerce platforms and delivery services, reflecting a shift in consumer buying behaviour. Moreover, manufacturers responded to health and safety concerns by introducing new packaging designs and promoting contactless delivery options. The pandemic also heightened consumer interest in premium and dark chocolate variants, driven by perceived health benefits. While the chocolate market faced temporary challenges, it showcased adaptability and resilience, eventually rebounding as consumer confidence in safety measures grew.

Leading players in the Saudi Arabia Chocolate Market

In the Saudi Arabia chocolate market, several leading players have established a strong presence. International chocolate giants such as Mars, Nestlé, and Ferrero Rocher hold significant market share, offering a wide range of chocolate products, including popular brands like Snickers, Kit Kat, and Ferrero Rocher. These multinational companies benefit from their global recognition and reputation for quality and innovation. Additionally, local players like Patchi and Tamrah have carved out a place in the market, specializing in the finest and traditional Arabic chocolate offerings, catering to the preferences of Saudi consumers. The competitive landscape of the Saudi Arabia chocolate market is characterized by a mix of international and local products, each contributing to the varied collection of chocolate products available to consumers in the area.

Market by Type 

On the basis of type, dark chocolate is expected to accelerate Saudi Arabia Chocolate Market Growth on the back of its emergence as a healthier choice due to its higher cocoa content.  Consumers are becoming more health-conscious and seek out the finest and most indulgent foodstuffs, and this factor has led to the expansion of the dark chocolate segment.

Market by Product 

According to Shivankar, Research Manager, 6Wresearch, boxed assortments of chocolates, especially quality and extravagance assortments, are projected to grow as they are often purchased as gifts during special occasions and holidays. Consumers appreciate the variety of flavours and styles offered in boxed assortments.

Market by Distribution Channel

On the basis of distribution channel, the market is segmented into, Supermarket and Hypermarkets, Specialist Retailers, Convenience Stores, Online Channel and Others. The online channel is expected to increase Saudi Arabia Chocolate Market Share as customers are increasingly turn to e-commerce platforms for their chocolate purchases. The accessibility of online shopping, especially during the COVID-19 pandemic, has driven the expansion of this distribution channel.

Market by Regions

The central region of Saudi Arabia, which includes Riyadh, the capital city, is expected to see sustained growth in chocolate consumption due to its higher population density and greater urbanization. 

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022.
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Saudi Arabia Chocolate Market Overview
• Saudi Arabia Chocolate Market Outlook
• Saudi Arabia Chocolate Market Forecast
• Historical Data of Saudi Arabia Chocolate Market Revenues & Volume for the Period 2019-2029
• Saudi Arabia Chocolate Market Size and Saudi Arabia Chocolate Market Forecast of Revenues & Volume, Until 2029
• Historical Data of Saudi Arabia Chocolate Market Revenues & Volume, by Types, for the Period 2019-2029
• Market Size & Forecast of Saudi Arabia Chocolate Market Revenues & Volume, by Types, Until 2029
• Historical Data of Saudi Arabia Chocolate Market Revenues & Volume, by Products, for the Period 2019-2029
• Market Size & Forecast of Saudi Arabia Chocolate Market Revenues & Volume, by Products, Until 2029
• Historical Data of Saudi Arabia Chocolate Market Revenues and Volume, By Distribution Channel, for the Period 2019-2029
• Market Size & Forecast of Saudi Arabia Chocolate Market Revenues and Volume, By Distribution Channel, Until 2029
• Historical Data of Central Chocolate Market Revenues and Volume, for the Period 2019-2029
• Market Size & Forecast of Central Chocolate Market Revenues and Volume, Until 2029
• Historical Data of Western Chocolate Market Revenues and Volume, for the Period 2019-2029
• Market Size & Forecast of Western Chocolate Market Revenues and Volume, Until 2029
• Historical Data of Eastern Chocolate Market Revenues and Volume, for the Period 2019-2029
• Market Size & Forecast of Eastern Chocolate Market Revenues and Volume, Until 2029
• Historical Data of Southern Chocolate Market Revenues and Volume, for the Period 2019-2029
• Market Size & Forecast of Southern Chocolate Market Revenues and Volume, Until 2029
• Market Drivers and Restraints
• Saudi Arabia Chocolate Market Price Trends
• Saudi Arabia Chocolate Market Trends and Products Life Cycle
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• Saudi Arabia Chocolate Market Share, By Players
• Saudi Arabia Chocolate Market Share, By Regions
• Saudi Arabia Chocolate Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Markets Covered

The Saudi Arabia Chocolate Market report provides a detailed analysis of the following market segments:

By Types:

• Dark Chocolate
• Milk Chocolate
• White Chocolate

By Products:

• Softline
• Boxed Assortments
• Contlines
• Seasonal Chocolates
• Moulded Chocolates
• Others

By Distribution Channel:

• Supermarket and hypermarkets
• Specialist Retailers
• Convenience Stores
• Online Channel
• Others

By Regions:

• Central
• Western
• Eastern
• Southern