GCC chocolate market stood at $ 1.3
billion in 2017 and is projected to grow at a CAGR of over 12% to reach $ 2.6 billion
by 2023. Anticipated growth in the market can be attributed to rising
consumption of chocolate among young population under the age group of 5-24
years coupled with growing urbanization across the GCC region. Moreover,
growing trend of gifting premium chocolates as a substitute for dry fruits and
traditional sweets is further aiding the region’s chocolate market. Rising
tourist footfall and expanding expatriate population, which is increasing the
influence of western culture, increasing
disposable income of middle class population and growing awareness about health
benefits of chocolate is further expected to propel growth in GCC chocolate
market through 2023.
Years considered for this report:
Historical Years:
2013-2016
Base Year: 2017
Estimated Year: 2018
Forecast Period:
2019–2023
Objective of the Study:
- To
analyze and forecast the market size of GCC chocolate market.
- To
define, classify and forecast GCC chocolate market based on product type,
category, distribution channel, country and company.
- To
analyze and forecast the market share in terms of value for GCC chocolate market
with respect to product type which includes milk chocolate, dark chocolate
and white chocolate.
- To
scrutinize the detailed market segmentation and forecast the market size,
in terms of value, of six countries in the region, namely – Saudi Arabia,
UAE, Oman, Bahrain, Qatar and Kuwait.
- To
identify tailwinds and headwinds for the GCC chocolate market.
- To
examine competitive developments such as expansions, innovative product
launches, government policy and investments, new entrants in GCC chocolate
market.
- To
strategically profile the leading players in the market which are involved
in the supply of chocolate in GCC region.
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Some of the major players
operating in GCC chocolate market are Mars GCC FZE, Mondelez Arabia for Trading LLC, Nestle Middle East FZE,
Ferrero Trading Dubai, Chocoladefabriken Lindt & Sprüngli, Patchi SAL, Al
Nassma Chocolate LLC, Al Kazemi International Food Industries, Sweets of Oman
SAOG and Godiva Chocolatier LLC.
TechSci Research performed both primary
as well as exhaustive secondary research for this study. Initially, TechSci
Research sourced a list of leading chocolate companies across the GCC region.
Subsequently, TechSci Research conducted primary research surveys with the
identified companies. While interviewing, the company personnel were also
enquired about their key products, prices of products and competitors. Through
this technique, TechSci Research was able to include the manufacturers which
could not be identified due to the limitations of secondary research. TechSci
Research analyzed the
type, category, distribution
channel and regional presence of all major chocolate companies across the GCC
region.
Key Target Audience:
- Chocolate
manufacturers, importers, suppliers, distributors and other stakeholders
- Trade
Associations, organizations, forums and alliances related to chocolate
industry
- Government
bodies such as regulating authorities and policy makers
- Market
research and consulting firms
The study is useful in providing
answers to several critical questions that are important for the industry
stakeholders such as chocolate
manufacturers, distributors and other stakeholders. The report would also
provide insights about which market segments should be targeted over the coming
years to strategize investments and capitalize on the
growth of the market.
Report Scope:
In this report, GCC
chocolate market has been segmented into the following categories in addition
to the industry trends which have also been detailed below:
- Market, by Product Type:
- Milk Chocolate
- Dark Chocolate
- White Chocolate
- Market, by Category:
- Chocolate Pouches and Bags
- Boxed Chocolates
- Countline
- Tablets
- Others
- Market, by Distributional Channel:
- Supermarkets/Hypermarket
- Convenience Stores/Forecourt Retailers
- Independent Grocery Stores
- Non-Store Retailing
- Others
- Market, by Country:
- Saudi
Arabia
- UAE
- Kuwait
- Qatar
- Oman
- Bahrain
- Market, by Company:
- Mars
GCC FZE
- Nestle
Middle East FZE
- Ferrero Trading Dubai
- Chocoladefabriken Lindt & Spruengli
- Mondelez Arabia for Trading LLC
- Others
Competitive
Landscape
Company Profiles: Detailed
analysis of the major companies present in GCC chocolate market.
Voice of Customer: Customer analysis
by considering below mentioned parameters- Brand Awareness, Frequency of
Consuming Chocolate and Factors Influencing Purchase Decision.
Available
Customizations:
With the given
market data, TechSci Research offers customizations according to a company’s
specific needs. The following customization options are available for the
report:
Channel Partner
Analysis
- Detailed list of distributors and dealers
across all major regions.
Company
Information
- Detailed analysis and
profiling of additional market players (up to five).
In
case you don’t find what you are looking for, please get in touch with our
custom research team at sales@techsciresearch.com