Middle East Chocolate - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2030)
The Middle East Chocolate Market size is estimated at 2.70 billion USD in 2024, and is expected to reach 3.78 billion USD by 2030, growing at a CAGR of 5.81% during the forecast period (2024-2030).
Dominance of convenience stores and supermarkets/hypermarkets due to increased shopping facilities and brand availability led to chocolate sales in the region
In the Middle East, the overall retailing segment has maintained a growth rate of 5.28% by value in 2023 as compared to 2022. The projected expansion is driven by consumers' increasing preference for convenience shopping facilities within the market. Within the retailing segment, the convenience stores segment is the largest retailing unit in terms of volume in 2023. Some of the popular convenience stores in the Middle East are Spinneys, LuLu Express, 7-Eleven, Zoom, Fresh Plus, and Circle K. By 2028, the convenience store segment in the Middle East is estimated to register a growth of 6.37% by volume.
Supermarkets and hypermarkets are the second-largest channels in the Middle Eastern chocolate confectionery market. The channel grew by 4.77% by value in 2023 compared to 2022 in the overall distribution channels segment for the Middle East’s chocolate confectionery sales in 2023. The development of modern retail channels such as supermarkets or hypermarkets has made it feasible for consumers to purchase high-quality chocolate products. The proximity factor of these channels in the countries provides them with an added advantage of influencing the consumer’s decision to purchase among the large variety of products available in the market.
Online channels are the fastest-growing distribution channels, attaining a CAGR of 6.43% from 2023 to 2030, through which chocolate confectionery products are consumed in the region. Consumers prefer online channels as they provide quick, convenient delivery options. The high internet penetration in the region also drives the demand for these channels. Among all the countries in the region, the United Arab Emirates and Saudi Arabia had the highest internet penetration, at 99% as of July 2023.
Substantial production and consumption of chocolates led by Saudi Arabia and UAE with value share of almost 70% in 2023
The Middle Eastern chocolate market registered a growth of 5.28% by value in 2023 compared to 2022. The consumer demand for high-quality chocolate products, such as single-origin chocolates, organic chocolates, handmade chocolates, artisan chocolates, and other chocolate products, is a major factor driving the chocolate market across the region. Saudi Arabia and UAE were identified as the major markets in the region, which collectively accounted for a 63.38% value share in the overall chocolate sales in the region in 2023. The key driving factors are high production, rising consumer preference for premium chocolates, and adequate industry regulation to facilitate the manufacturing and trading of chocolates.
Saudi Arabia is the largest chocolate producer in the GCC countries, supported by the highest consumption of chocolates in the country, including milk and dark chocolate products. As of 2023, there are more than 1,000 chocolate-producing sites in Saudi Arabia, with Riyadh accounting for the largest number of these (around 35%). Also, Saudi Arabia produces roughly 50% of the chocolate that it consumes. The consumption of chocolates in Saudi Arabia is anticipated to reach around USD 1534.01 million in 2030, registering a value CAGR of 4.45% between 2023 and 2030.
Kuwait is the fastest-growing chocolate market in the region. The Kuwaiti chocolate market is anticipated to grow by a value of 16.03% during 2023-2025. Dark chocolate is the leading category, accounting for 26.15% of the value of the overall chocolate market in 2023. The growth is attributed to the country's higher rates of lifestyle disorders. Kuwait ranks first worldwide in obesity and second in diabetes rates, with 77% of Kuwait’s population being overweight and over 40% obese in 2023.
Middle East Chocolate Market Trends
The younger population in the Middle East purchases more chocolates for special occasions such as Eid, Ramzan, and others, which resulted in more than 40% of sales in the chocolate segment in 2022
The region has a large population of young people and the entire population in Middle Eastern countries, contributing to the increasing demand for chocolates in the region. In Saudi Arabia, milk chocolate is preferred, and consumption peaks around middle school age (13-16), while in 2022, 40% of UAE consumers consumed dark chocolate.
Packaging remains consumers' first impression of chocolate confectioneries among other attributes, which determines the likelihood of purchasing. Flexible plastic is most popular, with some cartons used for boxed assortments and, in some cases, bars.
Consumers in the Middle East are becoming more interested in premium chocolate confectionary items and are choosing luxurious confectionery, and they are increasingly seeking out high-end premium chocolate products in line with rising incomes and the increased desire for premium products.
The Middle East’s love of confectionery is well known but its appetite for chocolate confectionery is changing, gradually moving toward more healthy ingredients. Health concerns are making dark chocolate and chocolate with nuts popular options.
Middle East Chocolate Industry Overview
The Middle East Chocolate Market is fairly consolidated, with the top five companies occupying 70.30%. The major players in this market are Ferrero International SA, Mars Incorporated, Mondel?z International Inc., Nestlй SA and Strauss Group Ltd (sorted alphabetically).
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
Dominance of convenience stores and supermarkets/hypermarkets due to increased shopping facilities and brand availability led to chocolate sales in the region
In the Middle East, the overall retailing segment has maintained a growth rate of 5.28% by value in 2023 as compared to 2022. The projected expansion is driven by consumers' increasing preference for convenience shopping facilities within the market. Within the retailing segment, the convenience stores segment is the largest retailing unit in terms of volume in 2023. Some of the popular convenience stores in the Middle East are Spinneys, LuLu Express, 7-Eleven, Zoom, Fresh Plus, and Circle K. By 2028, the convenience store segment in the Middle East is estimated to register a growth of 6.37% by volume.
Supermarkets and hypermarkets are the second-largest channels in the Middle Eastern chocolate confectionery market. The channel grew by 4.77% by value in 2023 compared to 2022 in the overall distribution channels segment for the Middle East’s chocolate confectionery sales in 2023. The development of modern retail channels such as supermarkets or hypermarkets has made it feasible for consumers to purchase high-quality chocolate products. The proximity factor of these channels in the countries provides them with an added advantage of influencing the consumer’s decision to purchase among the large variety of products available in the market.
Online channels are the fastest-growing distribution channels, attaining a CAGR of 6.43% from 2023 to 2030, through which chocolate confectionery products are consumed in the region. Consumers prefer online channels as they provide quick, convenient delivery options. The high internet penetration in the region also drives the demand for these channels. Among all the countries in the region, the United Arab Emirates and Saudi Arabia had the highest internet penetration, at 99% as of July 2023.
Substantial production and consumption of chocolates led by Saudi Arabia and UAE with value share of almost 70% in 2023
The Middle Eastern chocolate market registered a growth of 5.28% by value in 2023 compared to 2022. The consumer demand for high-quality chocolate products, such as single-origin chocolates, organic chocolates, handmade chocolates, artisan chocolates, and other chocolate products, is a major factor driving the chocolate market across the region. Saudi Arabia and UAE were identified as the major markets in the region, which collectively accounted for a 63.38% value share in the overall chocolate sales in the region in 2023. The key driving factors are high production, rising consumer preference for premium chocolates, and adequate industry regulation to facilitate the manufacturing and trading of chocolates.
Saudi Arabia is the largest chocolate producer in the GCC countries, supported by the highest consumption of chocolates in the country, including milk and dark chocolate products. As of 2023, there are more than 1,000 chocolate-producing sites in Saudi Arabia, with Riyadh accounting for the largest number of these (around 35%). Also, Saudi Arabia produces roughly 50% of the chocolate that it consumes. The consumption of chocolates in Saudi Arabia is anticipated to reach around USD 1534.01 million in 2030, registering a value CAGR of 4.45% between 2023 and 2030.
Kuwait is the fastest-growing chocolate market in the region. The Kuwaiti chocolate market is anticipated to grow by a value of 16.03% during 2023-2025. Dark chocolate is the leading category, accounting for 26.15% of the value of the overall chocolate market in 2023. The growth is attributed to the country's higher rates of lifestyle disorders. Kuwait ranks first worldwide in obesity and second in diabetes rates, with 77% of Kuwait’s population being overweight and over 40% obese in 2023.
Middle East Chocolate Market Trends
The younger population in the Middle East purchases more chocolates for special occasions such as Eid, Ramzan, and others, which resulted in more than 40% of sales in the chocolate segment in 2022
The region has a large population of young people and the entire population in Middle Eastern countries, contributing to the increasing demand for chocolates in the region. In Saudi Arabia, milk chocolate is preferred, and consumption peaks around middle school age (13-16), while in 2022, 40% of UAE consumers consumed dark chocolate.
Packaging remains consumers' first impression of chocolate confectioneries among other attributes, which determines the likelihood of purchasing. Flexible plastic is most popular, with some cartons used for boxed assortments and, in some cases, bars.
Consumers in the Middle East are becoming more interested in premium chocolate confectionary items and are choosing luxurious confectionery, and they are increasingly seeking out high-end premium chocolate products in line with rising incomes and the increased desire for premium products.
The Middle East’s love of confectionery is well known but its appetite for chocolate confectionery is changing, gradually moving toward more healthy ingredients. Health concerns are making dark chocolate and chocolate with nuts popular options.
Middle East Chocolate Industry Overview
The Middle East Chocolate Market is fairly consolidated, with the top five companies occupying 70.30%. The major players in this market are Ferrero International SA, Mars Incorporated, Mondel?z International Inc., Nestlй SA and Strauss Group Ltd (sorted alphabetically).
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 EXECUTIVE SUMMARY & KEY FINDINGS
2 REPORT OFFERS
3 INTRODUCTION
3.1 Study Assumptions & Market Definition
3.2 Scope of the Study?
3.3 Research Methodology
4 KEY INDUSTRY TRENDS
4.1 Regulatory Framework
4.2 Consumer Buying Behavior
4.3 Ingredient Analysis
4.4 Value Chain & Distribution Channel Analysis
5 MARKET SEGMENTATION (INCLUDES MARKET SIZE IN VALUE IN USD AND VOLUME, FORECASTS UP TO 2030 AND ANALYSIS OF GROWTH PROSPECTS)
5.1 Confectionery Variant
5.1.1 Dark Chocolate
5.1.2 Milk and White Chocolate
5.2 Distribution Channel
5.2.1 Convenience Store
5.2.2 Online Retail Store
5.2.3 Supermarket/Hypermarket
5.2.4 Others
5.3 Country
5.3.1 Bahrain
5.3.2 Kuwait
5.3.3 Oman
5.3.4 Qatar
5.3.5 Saudi Arabia
5.3.6 United Arab Emirates
5.3.7 Rest of Middle East
6 COMPETITIVE LANDSCAPE
6.1 Key Strategic Moves
6.2 Market Share Analysis
6.3 Company Landscape
6.4 Company Profiles
6.4.1 Berry Callebaut
6.4.2 Bostani Chocolatier Inc.
6.4.3 Chocoladefabriken Lindt & Sprьngli AG
6.4.4 Dadash Baradar Industrial Co.
6.4.5 Ferrero International SA
6.4.6 IFFCO
6.4.7 Lee Chocolate LLC
6.4.8 Makaw Chocolate LLC
6.4.9 Mars Incorporated
6.4.10 Mondel?z International Inc.
6.4.11 Nestlй SA
6.4.12 Parand Chocolate Co.
6.4.13 Patchi LLC
6.4.14 Shirin Asal Food Industrial Group
6.4.15 Strauss Group Ltd
6.4.16 The Hershey Company
6.4.17 Y?ld?z Holding AS
7 KEY STRATEGIC QUESTIONS FOR CONFECTIONERY CEOS
8 APPENDIX
8.1 Global Overview
8.1.1 Overview
8.1.2 Porter’s Five Forces Framework
8.1.3 Global Value Chain Analysis
8.1.4 Market Dynamics (DROs)
8.2 Sources & References
8.3 List of Tables & Figures
8.4 Primary Insights
8.5 Data Pack
8.6 Glossary of Terms
2 REPORT OFFERS
3 INTRODUCTION
3.1 Study Assumptions & Market Definition
3.2 Scope of the Study?
3.3 Research Methodology
4 KEY INDUSTRY TRENDS
4.1 Regulatory Framework
4.2 Consumer Buying Behavior
4.3 Ingredient Analysis
4.4 Value Chain & Distribution Channel Analysis
5 MARKET SEGMENTATION (INCLUDES MARKET SIZE IN VALUE IN USD AND VOLUME, FORECASTS UP TO 2030 AND ANALYSIS OF GROWTH PROSPECTS)
5.1 Confectionery Variant
5.1.1 Dark Chocolate
5.1.2 Milk and White Chocolate
5.2 Distribution Channel
5.2.1 Convenience Store
5.2.2 Online Retail Store
5.2.3 Supermarket/Hypermarket
5.2.4 Others
5.3 Country
5.3.1 Bahrain
5.3.2 Kuwait
5.3.3 Oman
5.3.4 Qatar
5.3.5 Saudi Arabia
5.3.6 United Arab Emirates
5.3.7 Rest of Middle East
6 COMPETITIVE LANDSCAPE
6.1 Key Strategic Moves
6.2 Market Share Analysis
6.3 Company Landscape
6.4 Company Profiles
6.4.1 Berry Callebaut
6.4.2 Bostani Chocolatier Inc.
6.4.3 Chocoladefabriken Lindt & Sprьngli AG
6.4.4 Dadash Baradar Industrial Co.
6.4.5 Ferrero International SA
6.4.6 IFFCO
6.4.7 Lee Chocolate LLC
6.4.8 Makaw Chocolate LLC
6.4.9 Mars Incorporated
6.4.10 Mondel?z International Inc.
6.4.11 Nestlй SA
6.4.12 Parand Chocolate Co.
6.4.13 Patchi LLC
6.4.14 Shirin Asal Food Industrial Group
6.4.15 Strauss Group Ltd
6.4.16 The Hershey Company
6.4.17 Y?ld?z Holding AS
7 KEY STRATEGIC QUESTIONS FOR CONFECTIONERY CEOS
8 APPENDIX
8.1 Global Overview
8.1.1 Overview
8.1.2 Porter’s Five Forces Framework
8.1.3 Global Value Chain Analysis
8.1.4 Market Dynamics (DROs)
8.2 Sources & References
8.3 List of Tables & Figures
8.4 Primary Insights
8.5 Data Pack
8.6 Glossary of Terms
