Middle East and Africa Chocolate Confectionery Market Outlook, 2029

The Middle East & Africa Chocolate Market is set to grow rapidly with a 9.55% CAGR. Tax changes and high growth potential contribute to market expansion.

Featured Companies

  • 1. Lindt & Sprungli Group
  • 2. Lotte Confectionery Co., Limited
  • 3. Mars Incorporated
  • 4. Meiji Holdings Co., Limited
  • 5. Nestle SA
  • 6. Ferrero SPA
  • More...

Despite the Middle East and Africa being smaller markets in value terms for chocolates when compared to other regions, there is a lot of potential due to a growing population and manufacturing innovation through product diversification. The economic crisis during the past years in the region, along with the implementation of VAT, has led consumers to opt for affordable products. Nevertheless, as chocolates are perceived as popular by some, growth has remained constant. Product diversification, product affordability, and the traditional culture of snacking among millennials are factors driving the need for chocolates. This has driven consumers to shift from milk chocolate to dark chocolate due to the higher cocoa content of the latter. Consumers have also increased organic chocolate consumption while manufacturers focus more on health claims and ethical labelling such as "100%-certified sustainable cocoa" and "reduced-sugar" by underlining fewer calories. According to the research report, "Middle East & Africa Chocolate Market Outlook, 2029," published by Bonafide Research, the chocolate market in the Middle East & Africa is projected to grow rapidly at a CAGR of 9.55% over the forecast period. High potential growth and the introduction of taxes changing purchasing habits in MEA, a growing preference for a healthier lifestyle driving product innovation and modernisation are all shaping chocolate sales. Growing demand for chocolates is driving demand in this region, with several companies starting their establishments and using them to promote their brands. With the trend moving towards quality, the inherent flavour of the cocoa beans is given particular emphasis. The products in this segment are prepared using fresh cocoa beans and carved into chocolates by small-scale chocolatiers. Chocolates are most popular among teenagers and consumers under 25 years of age, owing to their convenience factor, as they are designed to be eaten as a snack on the go. South Africa is the fastest-growing country. Additionally, consumers in the UAE prefer to gift premium boxed chocolate, which is available in varied shapes and sizes and in attractive packaging, over traditional sweets. It is projected that seasonal or box chocolates will grow in demand rapidly over the forecast period at a CAGR of 12.50%. This is further enhancing the influx of premium global chocolate brands, such as Godiva, into the country. Rising awareness of chocolate's health benefits will drive growth. An increasing number of women in the workforce lead to a rise in convenience. Due to busier lifestyles, governments are boosting modern retailing infrastructure to meet such demands, with supermarkets taking the greatest share. In addition, manufacturers securing prominent shelf space have maintained their value sales in modern retailers, enabling them to introduce promotions. Development in modern retail has also boosted the demand for chocolate in the Middle East. Furthermore, the large emigrant population in the Middle-East and African countries, such as the United Arab Emirates, Saudi Arabia, and Nigeria, due to work, contributed to the increasing demand for chocolates in the region. Hence, imported chocolates have a huge opportunity in this region, as a proper distribution network can help improve the accessibility of the market in the Middle Eastern nations.

What's Inside a Bonafide Research`s industry report?

Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globally

Download Sample

South Africa is expected to register fastest growth of CAGR 8.60%, contributing to the overall sales of the chocolate market in Middle-East and Africa in the forecast period ending 2029. The majority of the growth in the chocolate market sales in South Africa is attributed to hypermarkets and supermarkets. The rising consumer awareness and increasing disposable incomes among middle-income consumers, along with product innovation and channel development by key players to reach a wider consumer base, are some of the major factors that are expected to bolster the sales of the chocolate market in South Africa during the forecast period. The Middle-East and African chocolate markets are highly fragmented, with various companies from around the world holding market share in the region. Companies' major strategies include mergers and acquisitions, new product innovations, partnerships, and expansions. New product innovations have become the most important strategy due to the rapidly developing market in the Middle East & Africa region. The milk chocolate market share in 2023 was nearly 51.96%, and growth in the region by the milk segment will be significant for revenue generation in future years too. The growth is attributed to the high demand for milk chocolate owing to several health benefits, such as helping in boosting memory, smoothening and hydrating the skin, reducing the risk of heart strokes and attacks, and improving the immune system. Additionally, the rising purchasing power of consumers is further expected to increase the consumption of milk chocolate across the region in the forecast period.

Make this report your own

Have queries/questions regarding a report?

Take advantage of intelligence tailored to your business objective

Manmayi Raval

Manmayi Raval

Research Consultant

The COVID-19 pandemic had an unprecedented impact on the chocolate market in the region, as its ramifications led to lower sales volumes and other problems, including supply-side issues linked to quality and certification. The UAE and most Middle Eastern countries rely on imports from foreign brands rather than domestic production. Due to disruptions in imports, followed by lockdown, an increasing number of retail outlets remained closed for an extended period of time, resulting in lower volume consumption of premium chocolates. Major companies in the region are: Barry Callebaut, Ferrero, Godiva Chocolatier Inc, Lindt & Sprungli AG, Lotte Confectionery, Mars Wrigley, Meiji Holdings Co. Ltd, Mondel?z International, Nestle S.A, and The Hershey Company. Considered in this report • Geography: Middle East & Africa • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Middle East & Africa chocolate market with its value and forecast along with its segments • Country-wise chocolate market analysis • Various divers and challenges • Ongoing trends and developments • Five force models • Top profiled companies • Strategic recommendation Countries covered in the report • UAE • Saudi Arabia • Israel • South Africa Types of chocolates in the report • Milk chocolate • Dark chocolate • White chocolate Application of chocolates in the report • Everyday • Seasonal/ Box • Premium • Gourmet Sales Channel of chocolates in the report • Supermarkets & Hypermarkets • Convenience Stores • Online • Others The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to chocolate industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry. Please get in touch with our sales team to find out more. Keywords: Middle East & Africa, Saudi Arabia, Dubai, Israel, South Africa, Africa beans, Africa cocoa production, cocoa beans, cocoa production, Chocolate, Milk, Dark, White, Retailing, Organic, Natural, Everyday, Seasonal, Premium, Gourmet FAQ 1. What is the growth rate of MEA chocolate market? 2. Which is the leading country in MEA chocolate market? 3. What type of chocolate do consumers prefer to buy in MEA region? 4. Which segment of chocolate is likely to be demanded in future years? 5. What is the most popular chocolate? Answers: 1. MEA chocolate market is expected to grow at a CAGR of 9.55%. 2. Saudi Arabia leads the chocolate market of MEA region. 3. Everyday chocolates are the most demanded type in MEA region. 4. Seasonal or gift boxes of chocolates are likely to be in great demand in the future years. 5. Milk chocolates are the most popular type in MEA region.

Don’t pay for what you don’t need. Save 30%

Customise your report by selecting specific countries or regions

Specify Scope Now
Manmayi Raval

Companies Mentioned

  • Lindt & Sprungli Group
  • Lotte Confectionery Co., Limited
  • Mars Incorporated
  • Meiji Holdings Co., Limited
  • Nestle SA
  • Ferrero SPA
  • Mondelez International
  • Hershey Company
  • Barry Callebaut
  • Godiva choclatier

Table of Contents

  • 1. Executive Summary
  • 2. Market Dynamics
  • 2.1. Market Drivers & Opportunities
  • 2.2. Market Restraints & Challenges
  • 2.3. Market Trends
  • 2.3.1. XXXX
  • 2.3.2. XXXX
  • 2.3.3. XXXX
  • 2.3.4. XXXX
  • 2.3.5. XXXX
  • 2.4. Covid-19 Effect
  • 2.5. Supply chain Analysis
  • 2.6. Policy & Regulatory Framework
  • 2.7. Industry Experts Views
  • 3. Research Methodology
  • 3.1. Secondary Research
  • 3.2. Primary Data Collection
  • 3.3. Market Formation & Validation
  • 3.4. Report Writing, Quality Check & Delivery
  • 4. Market Structure
  • 4.1. Market Considerate
  • 4.2. Assumptions
  • 4.3. Limitations
  • 4.4. Abbreviations
  • 4.5. Sources
  • 4.6. Definitions
  • 5. Economic /Demographic Snapshot
  • 6. Global Chocolate Confectionery Market Outlook
  • 6.1. Market Size By Value
  • 6.2. Market Share By Region
  • 6.3. Market Size and Forecast, By Geography
  • 6.4. Market Size and Forecast, By Type
  • 6.5. Market Size and Forecast, By Application
  • 6.6. Market Size and Forecast, By Distribution Channel
  • 7. Middle East & Africa Chocolate Confectionery Market Outlook
  • 7.1. Market Size By Value
  • 7.2. Market Share By Country
  • 7.3. Market Size and Forecast, By Type
  • 7.4. Market Size and Forecast, By Application
  • 7.5. Market Size and Forecast, By Distribution Channel
  • 7.6. UAE Chocolate Confectionery Market Outlook
  • 7.6.1. Market Size By Value
  • 7.6.2. Market Size and Forecast By Type
  • 7.6.3. Market Size and Forecast By Application
  • 7.6.4. Market Size and Forecast By Distribution Channel
  • 7.7. Saudi Arabia Chocolate Confectionery Market Outlook
  • 7.7.1. Market Size By Value
  • 7.7.2. Market Size and Forecast By Type
  • 7.7.3. Market Size and Forecast By Application
  • 7.7.4. Market Size and Forecast By Distribution Channel
  • 7.8. South Africa Chocolate Confectionery Market Outlook
  • 7.8.1. Market Size By Value
  • 7.8.2. Market Size and Forecast By Type
  • 7.8.3. Market Size and Forecast By Application
  • 7.8.4. Market Size and Forecast By Distribution Channel
  • 8. Competitive Landscape
  • 8.1. Competitive Dashboard
  • 8.2. Business Strategies Adopted by Key Players
  • 8.3. Key Players Market Share Insights and Analysis, 2022
  • 8.4. Key Players Market Positioning Matrix
  • 8.5. Porter's Five Forces
  • 8.6. Company Profile
  • 8.6.1. Lindt & Sprungli Group
  • 8.6.1.1. Company Snapshot
  • 8.6.1.2. Company Overview
  • 8.6.1.3. Financial Highlights
  • 8.6.1.4. Geographic Insights
  • 8.6.1.5. Business Segment & Performance
  • 8.6.1.6. Product Portfolio
  • 8.6.1.7. Key Executives
  • 8.6.1.8. Strategic Moves & Developments
  • 8.6.2. Lotte Confectionery Co., Limited
  • 8.6.3. Mars Incorporated
  • 8.6.4. Meiji Holdings Co., Limited
  • 8.6.5. Nestle SA
  • 8.6.6. Ferrero SPA
  • 8.6.7. Mondelez International
  • 8.6.8. Hershey Company
  • 8.6.9. Barry Callebaut
  • 8.6.10. Godiva chocolatier
  • 9. Strategic Recommendations
  • 10. Annexure
  • 10.1. FAQ`s
  • 10.2. Notes
  • 10.3. Related Reports
  • 11. Disclaimer

Table 1: Global Chocolate Confectionery Market Snapshot, By Segmentation (2023 & 2029) (in USD Billion)
Table 2: Influencing Factors for Chocolate Confectionery Market, 2023
Table 3: Top 10 Counties Economic Snapshot 2022
Table 4: Economic Snapshot of Other Prominent Countries 2022
Table 5: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 6: Global Chocolate Confectionery Market Size and Forecast, By Geography (2018 to 2029F) (In USD Billion)
Table 7: Global Chocolate Confectionery Market Size and Forecast, By Type (2018 to 2029F) (In USD Billion)
Table 8: Global Chocolate Confectionery Market Size and Forecast, By Application (2018 to 2029F) (In USD Billion)
Table 9: Global Chocolate Confectionery Market Size and Forecast, By Distribution Channel (2018 to 2029F) (In USD Billion)
Table 10: Middle East & Africa Chocolate Confectionery Market Size and Forecast, By Type (2018 to 2029F) (In USD Billion)
Table 11: Middle East & Africa Chocolate Confectionery Market Size and Forecast, By Application (2018 to 2029F) (In USD Billion)
Table 12: Middle East & Africa Chocolate Confectionery Market Size and Forecast, By Distribution Channel (2018 to 2029F) (In USD Billion)
Table 13: United Arab Emirates Chocolate Confectionery Market Size and Forecast By Type (2018 to 2029F) (In USD Billion)
Table 14: United Arab Emirates Chocolate Confectionery Market Size and Forecast By Application (2018 to 2029F) (In USD Billion)
Table 15: United Arab Emirates Chocolate Confectionery Market Size and Forecast By Distribution Channel (2018 to 2029F) (In USD Billion)
Table 16: Saudi Arabia Chocolate Confectionery Market Size and Forecast By Type (2018 to 2029F) (In USD Billion)
Table 17: Saudi Arabia Chocolate Confectionery Market Size and Forecast By Application (2018 to 2029F) (In USD Billion)
Table 18: Saudi Arabia Chocolate Confectionery Market Size and Forecast By Distribution Channel (2018 to 2029F) (In USD Billion)
Table 19: South Africa Chocolate Confectionery Market Size and Forecast By Type (2018 to 2029F) (In USD Billion)
Table 20: South Africa Chocolate Confectionery Market Size and Forecast By Application (2018 to 2029F) (In USD Billion)
Table 21: South Africa Chocolate Confectionery Market Size and Forecast By Distribution Channel (2018 to 2029F) (In USD Billion)

Figure 1: Global Chocolate Confectionery Market Size (USD Billion) By Region, 2023 & 2029
Figure 2: Market attractiveness Index, By Region 2029
Figure 3: Market attractiveness Index, By Segment 2029
Figure 4: Global Chocolate Confectionery Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 5: Global Chocolate Confectionery Market Share By Region (2023)
Figure 6: Middle East & Africa Chocolate Confectionery Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 7: Middle East & Africa Chocolate Confectionery Market Share By Country (2023)
Figure 8: UAE Chocolate Confectionery Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 9: Saudi Arabia Chocolate Confectionery Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 10: South Africa Chocolate Confectionery Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 11: Competitive Dashboard of top 5 players, 2023
Figure 12: Market Share insights of key players, 2023
Figure 13: Porter's Five Forces of Global Chocolate Confectionery Market

Chocolate Confectionary Market Market Research FAQs

MEA chocolate market is expected to grow at a CAGR of 9.28%.

Saudi Arabia leads the chocolate market of MEA region.

Everyday chocolates are the most demanded type in MEA region.

Seasonal or gift boxes of chocolates are likely to be in great demand in the future years.

Milk chocolates are the most popular type in MEA region.
Logo

Middle East and Africa Chocolate Confectionery Market Outlook, 2029

Contact usWe are friendly and approachable, give us a call.