Middle East Chocolate Market (2017-2023) | Analysis, Size, Share, Segmentation, Growth, Value, Revenue, Industry & Outlook

Latest 2022 Developments

Middle East Chocolate Market is increasing because of a diverse range of flavors in the chocolate. One of the major flavors adopted in the region is camel milk chocolate. The companies are trying to build a new product to give consumers a local palette flavor by mixing chocolate with dates which are the staple fruit of the Middle East region. Furthermore, some other flavor that is developed in the duration is the lotus Biscoff flavored chocolate. The companies are trying to build their products during the duration of Ramadan which will attract consumers.

Mergers and Acquisitions:

In September 2020, the board of directors of Agthia Group, an Abu Dhabi-listed food and beverage firm, authorized a deal to acquire a 100 percent indirect ownership in confectionary and healthy foods maker BMB Group.

In March 2021, Havelock One Interiors executed the retail shopfitting and bespoke unit manufacture for Patchi's boutique concept location in Bahrain City Centre successfully.

Middle East Chocolate Market Synopsis

Middle East Chocolate Market is anticipated to gain momentum during the upcoming years owing to increasing penetration towards confectionery. The rising adoption of chocolates as a gifting option for almost all age groups is adding to the Middle East Chocolate Market Growth. The rising risk of cardiovascular disease along with increasing awareness regarding the benefits associated with the consumption of dark chocolate is driving the development of the industry. Moreover, a high number of antioxidants present in the chocolates is one of the key factors providing lucrative opportunities for market growth. The rising launch of innovative products by the manufacturers such as diet and low-calorie chocolate is adding to the Middle East Chocolate Market Share. 

The report thoroughly covers the Middle East chocolate market which is a part of Global Chocolate Market report by categories, distribution channels, and packaging. The report provides an unbiased and detailed analysis of the ongoing trends, opportunities in 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.

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.

According to 6Wresearch, Middle East Chocolate Market is projected to grow at a CAGR of 4.8% in revenue terms during 2017-2023. The chocolate market is anticipated to register strong growth in 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 the change in eating preferences and the availability of chocolate as a derived product for mousse, rolls, fudge, etc.

The health benefits offered by chocolate such as slow aging and prevention of certain diseases such as cardiac arrest surges the demand for chocolates. Further, the growing demand for customized chocolate is surging the chocolate market in the region. 

Key players in the Market

Some of the key players in the Middle East chocolate market include- 

• Mars
• Nestle
• Ferrero
• Mondelez
• Hershey

Market Analysis By Categories

On the basis of categories, the milk chocolate segment is expected to generate significant revenues during the upcoming years on account of increasing health benefits such as help in boosting memory. 

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2013 to 2016.
• Base Year: 2016.
• Forecast Data until 2023
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Historical Data of Middle East Chocolate Market Revenues and Volume for the Period 2014-2016.
• Market Size & Forecast of Middle East Chocolate Market Revenues and Volume until 2023.
• Historical Data of Saudi Arabia, UAE, Qatar, Kuwait, Jordan, and Lebanon Chocolate Market Revenues and Volume for the Period 2014-2016.
• Market Size & Forecast of Saudi Arabia, UAE, Qatar, Kuwait, Jordan, and Lebanon Chocolate Market Revenues and Volume until 2023. 
• Historical Data of Saudi Arabia, UAE, Qatar, Kuwait, Jordan, and Lebanon Chocolate Market Revenues by Categories for the Period 2014-2016.
• Market Size & Forecast of Saudi Arabia, UAE, Qatar, Kuwait, Jordan, and Lebanon Chocolate Market Revenues by Categories until 2023. 
• Historical Data of Saudi Arabia, UAE, Qatar, Kuwait, Jordan, Lebanon, and Chocolate Market Revenues by Distribution Channel for the Period 2014-2016.
• Market Size & Forecast of Saudi Arabia, UAE, Qatar, Kuwait, Jordan, and Lebanon Chocolate Market Revenues by Distribution Channel until 2023. 
• Historical Data of Saudi Arabia Chocolate, UAE, Qatar, Kuwait, Jordan, and Lebanon Market Revenues by Packaging for the Period 2014-2016.
• Market Size & Forecast of Saudi Arabia, UAE, Qatar, Kuwait, Jordan, and Lebanon Chocolate Market Revenues by Packaging until 2023. 
• Market Drivers and Restraints.
• Market Trends and Developments.
• Player Market Share and Competitive Landscape.
• Company Profiles.
• Key Strategic Pointers.

Markets Covered:

By Categories

• Milk chocolate
• Dark Chocolate
• White chocolate

By Distribution Channels

• Hypermarkets & Supermarkets
• Convenience Stores
• Specialist Retailers
• Others (e-commerce, pharmacy, dollar store)

By Packaging

• Flexible
• Rigid
• Paper & Board

By Countries

• Saudi Arabia
• UAE
• Qatar
• Kuwait
• Jordan
• Lebanon