Saudi Arabia Chocolate Market Overview, 2029

The Dark chocolate consumption and market sales in Saudi Arabia have been steadily increasing, reflecting a growing demand for premium chocolate products among consumers in the country. Saudi Arabia, with its affluent population and a penchant for luxury goods, has witnessed a rise in the popularity of dark chocolate. The market for dark chocolate in Saudi Arabia is dynamic and competitive, with a mix of local and international brands catering to the diverse preferences of consumers. Chocolatiers and chocolate companies have recognized the market potential and have introduced a wide range of dark chocolate products, including various cocoa percentages and unique flavor combinations. Saudi Arabian consumers have developed a taste for the rich, bittersweet flavors of dark chocolate. Dark chocolate is not only enjoyed as a standalone treat but also incorporated into desserts, baked goods, and traditional Arabic sweets, adding depth and sophistication to these delicacies. The perception of dark chocolate as a premium and indulgent product has contributed to its popularity in Saudi Arabia. It is often associated with luxury, and its consumption is prevalent during special occasions and festive seasons. Additionally, dark chocolate's potential health benefits, such as being a source of antioxidants, have also influenced consumer preferences in a market increasingly focused on wellness and healthier lifestyle choices.

According to the research report “Saudi Arabia Chocolate Market Overview, 2029,” published by Bonafide Research, it is expected that the chocolate market will grow rapidly over the forecast period. The major driving force is increased demand for dark chocolate as consumers are inclined towards healthy eating habits. Milk chocolates will be less popular in the future than dark or white chocolates. The key chocolate players are actively pondering launching new products and expansion. Customers have returned for more because of the unique products that include natural and organic ingredients. The production of cocoa beans is highly affected by increased weather uncertainties as it requires a hot and humid climate to grow, which acts as a market restraint. Box chocolates have been viewed as a growing trend in the chocolate market in the last couple of years. From bean to bar implies that the creator controls each progression of the creation procedure, from purchasing the cocoa beans to the formation of the chocolate bar.

Dark chocolate offers several potential health benefits and is a rich source of antioxidants, which help protect the body against free radicals and oxidative stress. These antioxidants have been linked to reducing inflammation, improving heart health, and boosting brain function. Consuming dark chocolate in moderation may also contribute to lower blood pressure, improved blood flow, and reduced risk of heart disease. Furthermore, dark chocolate contains minerals like iron, magnesium, and copper, which are essential for various bodily functions. To enjoy the benefits of dark chocolate, it is important to choose varieties with at least 70% cocoa content and limited added sugars. Good sources of dark chocolate include reputable brands offering high-quality dark chocolate bars and artisanal chocolate makers specializing in premium and single-origin chocolates. The availability of a diverse range of dark chocolate products, including local and worldwide brands and artisanal and gourmet alternatives, has aided in the growth of dark chocolate consumption in Saudi Arabia

The growth of dark chocolate manufacturing and sales in Saudi Arabia can be attributed to factors such as high-quality cocoa production, the influence of artisanal traditions, health and wellness trends, increasing consumer awareness, market expansion, and cultural promotion. These driving forces have created a favorable environment for the success of Mexican dark chocolate, appealing to both domestic and international markets. The online segment is anticipated to be the fastest growing over the forecast period. Increased internet penetration in the country and high adoption of online purchasing has witnessed significant growth in the past few years. The major driving factors for online sales would be Generation X, millennials, and Generation Z's parents' access to the internet and e-commerce. The pandemic had considerably affected chocolate production. The restrictions imposed led to losses for farmers growing cocoa, as the output exceeded the demands. Due to the imposed lockdown, labor immobility, and raw material scarcity, the production units faced difficulties. However, due to health reasons, consumers switched to dark chocolate during the pandemic, as it was low in calories and benefited the heart.

Considered in this report
Geography: Saudi Arabia
Base year: 2023
Estimated year: 2024
Forecast year: 2029



Aspects covered in this report
The Saudi Arabia chocolate market, with its value and forecast, along with its segments
Various drivers and challenges
Ongoing trends and developments
Top-profiled companies
Strategic suggestion

By type in the report:
Dark
White
Milk

By application in the report
Everyday
Holiday/Gift Box
Premium
Gourmet

By Sales Channel in the report
Supermarket & Hypermarket
Convenience Store
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 list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual reports of companies, and analyzing 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 performing 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 and presentations, it will also increase competitive knowledge about the industry.