The chocolate is a leading market in confectionary items which is becoming a favourite item in the sweet products. The children, teenagers, adults, elders all are having the different preference towards the chocolate and also emotionally attached to it. The increases in the disposable income with the population the market size are increasing which is creating the high potential for the chocolate market. The people are becoming aware of the benefit of the chocolates in the cardiac disease, and prevent memory breakdown and it’s leading the chocolate market.
Africa is dominant in the world’s cocoa production as it is one of the major producer of cocoa beans. However, the region has been refrained from consuming by-products of cocoa such as chocolate for many years but strong growth is expected in Africa’s chocolate consumption. The growth rate of chocolate consumption in African countries is comparable with that of China and India, the two fastest-growing chocolate markets in the world. Africa contributes nearly, 70% of cocoa beans and majorly exported to other countries. Africa carries a large production center in the planting of cocoa which in turn serves as an easy availability of high rich cocoa chocolate registered to a larger scope of growth of Africa chocolate market.
According to the report "Middle East & Africa Chocolate Market Outlook, 2026" published by Bonafide Research, the market have grown historically with the CAGR of around 7.78% till the year 2020. Saudi Arabia leads the market share in this region. UAE has the least market capture. People carry different preferences which are categorized into different segments forms like milk chocolate, white chocolate, and dark chocolate. And in Africa, the availability intended to raise the demand for dark chocolate more which leads to an increase in the growth rate of the chocolate market in Africa in upcoming years. The dark chocolate does not harm the human body adversely as sugar proportion in the chocolate is less. The trend of the premiumisation of the chocolates and increasing demand of the artistic chocolates are increasing the chocolate market. To gift the chocolate boxes to others in particular occasion or festivals are also leading towards the growth of the market. In Middle East & Africa, the chocolate market is lead by companies like Nestle SA, Lindt & Sprungli AG, Mondelez International, Nestle SA, The Hershey Company, Ferrero Groups, etc with their best quality of the all three types of chocolates into the market.
The companies are providing the chocolates into the different application such as every day, seasonal/Gif boxes, premium, and gourmet chocolates. The companies are introducing liquid segment of the chocolates which is accepted by the people and available in different flavours with special products like wine as the main ingredient posing as substitution for the other drinks
Trends experienced in the market
With increasing knowledge and innovation associate with chocolates, people are interested more in the unique and premium chocolate product, which is making the demand and popularity of the segment increase. Furthermore, the demand of the better-quality of premium chocolates is increasing in the market. The demand increased as the chocolate has a rich taste and also available in the different flavors which are making the chocolate lovers more attracted to it. The chocolates are also made according to the customer’s requirement which has a different design, sizes which is considered into the segment of the artisan chocolate products. Every company is known to establish their own premium artisan chocolate p[products which are available at their banquets and cafes. With this, the companies are introducing the new chocolate products with the best quality of the premium and artisan chocolates.