Report Description

Forecast Period

2024-2028

Market Size (2022)

USD 989.76 Million

CAGR (2023-2028)

4.96%

Fastest Growing Segment

Dark Chocolate

Largest Market

Western

 

Market Overview

Saudi Arabia Chocolate Market has valued at USD 989.76 million in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 4.96% through 2028. Saudi Arabia has experienced a growing appetite for chocolate, with the confectionery industry becoming increasingly prominent in recent years. This trend can be attributed to a combination of factors, including economic development, urbanization, and changing consumer preferences.

Traditionally, Saudi Arabia was not known for its chocolate production but rather relied on imports to satisfy its demand for cocoa-based treats. However, in recent times, the country has witnessed a surge in the establishment of local chocolate manufacturers, reflecting a burgeoning interest in producing high-quality chocolates for both domestic consumption and export.

One key driver of this emerging chocolate industry is the government's effort to diversify the economy and promote non-oil sectors, such as food and beverage manufacturing. These initiatives have attracted investments and spurred innovation in the chocolate sector, resulting in a wide range of flavors and styles catering to diverse tastes.

Furthermore, Saudi Arabia's youthful population, with a penchant for indulgent and premium products, has contributed to the rapid growth of the chocolate market. With a burgeoning middle class and an increasingly globalized palate, Saudi consumers are now exposed to a variety of international chocolate brands and artisanal offerings.

In conclusion, Saudi Arabia's chocolate industry is on the rise, reflecting the changing consumption patterns and economic development in the country. The industry's future prospects seem sweet, with potential for further growth in both domestic and international markets.

Key Market Drivers

Economic Prosperity and Rising Disposable Income

Saudi Arabia's economic landscape has witnessed a significant transformation over the past few decades. Historically reliant on oil exports, the government has actively pursued economic diversification as part of its Vision 2030 initiative. As a result, the country has experienced increased economic diversification, leading to greater job opportunities, higher incomes, and a growing middle class. This economic prosperity has played a vital role in the rise of the chocolate industry.

With rising disposable incomes, Saudi consumers have more purchasing power, enabling them to afford indulgent and premium products, including chocolate. This increased affluence has created a growing demand for high-quality chocolates, both domestically produced and imported. Chocolate, once considered a luxury, has become a staple treat for many Saudis, with a wide range of options available at various price points.

Moreover, the government's investments in infrastructure, tourism, and entertainment have fueled the development of the hospitality and retail sectors, where chocolates are prominently featured. The presence of luxury hotels, international retail chains, and high-end malls in major cities has provided a strong platform for the sale and consumption of chocolate products, reinforcing its association with affluence and indulgence.

Changing Consumer Preferences and Globalization

Saudi Arabia's society has evolved in numerous ways, and this is particularly evident in changing consumer preferences. The country has witnessed an increasing exposure to global trends, making its population more cosmopolitan and open to international influences. This exposure has led to a diversification of tastes and preferences, including a growing fondness for chocolate.

The younger generation in Saudi Arabia, in particular, is more cosmopolitan and has adopted a globalized palate. They are more inclined to try new and exotic flavors, premium chocolate brands, and artisanal chocolate products. This demographic shift has been a pivotal driver for the chocolate industry, as it has encouraged both local and international chocolatiers to innovate and cater to these evolving tastes.

Saudi Arabia has also become a hub for expatriates and tourists, further diversifying the demand for chocolate. Tourists, in particular, often seek out local delicacies and international brands, contributing to the growth of the chocolate market. This globalization of taste preferences and the presence of a culturally diverse population have encouraged the introduction of unique chocolate flavors and styles that cater to a broad spectrum of consumers.

Cultural Significance and Gifting Traditions

Chocolate holds a special place in Saudi Arabian culture, particularly as a symbol of hospitality, celebration, and gift-giving. The tradition of offering sweets, including chocolates, to guests is deeply ingrained in Saudi Arabian hospitality. Chocolates are often presented to visitors as a gesture of welcome, and this cultural practice has led to consistent demand for high-quality chocolates.

Moreover, chocolate plays a central role in various Saudi celebrations and occasions. From weddings and engagements to religious holidays like Eid al-Fitr and Eid al-Adha, chocolates are exchanged as gifts among family and friends. The tradition of giving chocolate during special occasions and celebrations has led to a year-round market for chocolate gifting, with an emphasis on beautifully packaged and premium-quality chocolates.

In addition to domestic celebrations, Saudi Arabia has a strong tradition of exchanging gifts with business associates, particularly during the Islamic holiday of Eid. Chocolates are a popular choice for corporate gifting, with companies often presenting branded chocolates to clients and partners as a sign of appreciation. This corporate gifting tradition further boosts the chocolate industry's growth.

Health and Wellness Trends

While the chocolate industry in Saudi Arabia has experienced robust growth, it has not been immune to global health and wellness trends. There is a growing awareness of the importance of a healthy lifestyle, and this has prompted changes in the chocolate market. Consumers are now seeking healthier and more nutritious chocolate options, including dark chocolate with higher cocoa content, sugar-free chocolate, and chocolates with added functional ingredients.

To meet the demand for healthier options, chocolate manufacturers in Saudi Arabia have started producing and promoting a range of these products. Dark chocolate, known for its potential health benefits, has gained popularity among health-conscious consumers. Furthermore, the introduction of sugar-free and low-sugar chocolate products appeals to those looking to limit their sugar intake.

Additionally, there is a growing interest in chocolates with added functional ingredients, such as nuts, fruits, and superfoods like goji berries and chia seeds. These chocolates are marketed as offering both indulgence and health benefits. As a result, health-conscious consumers can enjoy their favorite treat without compromising on their dietary choices.

In conclusion, the growth of the chocolate industry in Saudi Arabia can be attributed to several drivers, including economic prosperity, changing consumer preferences, cultural significance, and health and wellness trends. These factors have combined to create a thriving market for chocolate in the country, with opportunities for both local and international chocolatiers to meet the diverse demands of Saudi consumers. The industry's future appears promising as it continues to adapt to evolving market dynamics and consumer expectations.


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Key Market Challenges

High Temperature and Humidity

Saudi Arabia's climate poses a significant challenge to the chocolate industry. The country experiences extreme heat and humidity, especially during the summer months, which can be detrimental to chocolate production and storage. Chocolate is sensitive to temperature variations and can melt or lose its quality when exposed to high temperatures. This makes it challenging for retailers to display chocolates without the risk of them melting, and for consumers to transport chocolates without proper temperature control. Local manufacturers must invest in climate-controlled facilities and packaging solutions to mitigate these issues. International brands may also face difficulties in shipping and maintaining product quality under such conditions.

Import Regulations and Customs Duties

Saudi Arabia, like many countries, has import regulations and customs duties that can affect the cost and availability of chocolate products. These regulations may include requirements for specific labeling, certifications, and documentation for imported goods. Additionally, customs duties and taxes can impact the price point of imported chocolates, making them more expensive for consumers. These barriers can be challenging for international chocolatiers looking to enter the Saudi market, as they need to navigate complex import procedures and potentially adjust their pricing strategies to remain competitive.

Competition and Market Saturation

The chocolate industry in Saudi Arabia has become increasingly competitive as more local and international brands enter the market. This competition has led to market saturation, making it harder for both established and new players to stand out. To succeed in such a crowded marketplace, companies need to differentiate their products through innovation, quality, and branding. Moreover, consumers have become more discerning and sophisticated in their chocolate preferences, making it challenging to cater to diverse tastes and preferences. This constant battle for market share and consumer loyalty presents a significant challenge for all chocolate manufacturers and retailers.

Health and Dietary Concerns

Health and dietary concerns are on the rise in Saudi Arabia, mirroring global trends. While there is a growing demand for healthier chocolate options, there is also increased scrutiny of sugar and additives in chocolates. This challenge is twofold. First, chocolate manufacturers need to respond to the demand for more health-conscious choices, such as sugar-free, low-sugar, or dark chocolate with higher cocoa content. Second, they must address concerns about ingredient transparency and provide clear nutritional information on their products. Meeting these demands while maintaining the taste and quality of chocolates can be challenging. Furthermore, consumer awareness of the environmental impact of cocoa production has led to calls for more sustainable and ethically sourced chocolate. Brands are increasingly expected to demonstrate their commitment to responsible sourcing and fair trade, which can be a logistical and financial challenge.

In summary, the chocolate industry in Saudi Arabia faces challenges related to climate conditions, import regulations, competition, and evolving consumer preferences. These challenges require creative solutions and strategic adaptations by both local and international chocolate producers to thrive in the Saudi market. Navigating these obstacles is essential for the industry's continued growth and success in a dynamic and evolving market.

Key Market Trends

Health-Conscious Choices

As in many parts of the world, there is a growing trend in Saudi Arabia toward healthier eating and a more health-conscious lifestyle. This shift has influenced chocolate consumption patterns. Consumers are increasingly seeking chocolate products that align with their dietary preferences and wellness goals. Dark chocolate, known for its potential health benefits due to its higher cocoa content and lower sugar content, is gaining popularity among health-conscious individuals. Manufacturers have responded by offering a wider range of dark chocolate options.

Additionally, sugar-free and low-sugar chocolate products have become more prevalent on the market, catering to those looking to limit their sugar intake. These products typically use sugar substitutes or alternative sweeteners, such as stevia or erythritol, to provide a sweet taste without the added sugar calories. Health-focused ingredients, like nuts, fruits, and superfoods, are being incorporated into chocolates, providing a fusion of indulgence and nutritional value. Chocolatiers are also experimenting with ingredients like matcha, a green tea powder known for its antioxidant properties.

The demand for healthier chocolate options aligns with global trends in mindful eating, and it is likely to continue influencing product development in the Saudi chocolate industry. Manufacturers must navigate the challenge of creating chocolates that are both indulgent and health-conscious, offering options that appeal to a broader range of consumers.

Premium and Artisanal Chocolates

Saudi Arabia has seen a surge in demand for premium and artisanal chocolate products. As the country's economy has grown, so has the middle class, leading to increased purchasing power and a desire for more sophisticated and higher-quality chocolate. Consumers are willing to pay a premium for chocolates that offer unique flavors, superior ingredients, and exquisite packaging.

This trend has encouraged the establishment of local artisanal chocolatiers who create handcrafted, small-batch chocolates. These chocolatiers often draw inspiration from international trends, infusing traditional Arabic flavors and ingredients like saffron, cardamom, and dates to create unique and culturally resonant chocolate experiences.

International luxury chocolate brands have also recognized this demand and are expanding their presence in the Saudi market. They offer exclusive boutiques and limited-edition collections to cater to the discerning tastes of consumers who seek premium, luxurious chocolate experiences.

The premium and artisanal chocolate trend is expected to continue as consumers seek novel and high-quality chocolate options. Chocolatiers will need to invest in creativity, quality control, and unique marketing strategies to compete effectively in this segment of the market.

Sustainability and Ethical Sourcing

There is a growing awareness among consumers in Saudi Arabia, as in many parts of the world, about the environmental and ethical aspects of chocolate production. There is a demand for chocolate products that are not only delicious but also responsibly sourced and produced.

Chocolatiers are increasingly expected to demonstrate their commitment to sustainability and ethical sourcing of cocoa beans. This trend involves ensuring that cocoa is sourced from farms that adhere to fair trade practices, protect biodiversity, and support the livelihoods of local farmers. Some brands are also focusing on transparent supply chains, providing consumers with information about the origins of their cocoa beans and the steps taken to minimize environmental impact.

Sustainability extends to packaging as well, with a preference for eco-friendly and recyclable materials. Chocolatiers are adopting more environmentally friendly packaging solutions to reduce their carbon footprint and appeal to eco-conscious consumers.

As sustainability and ethical sourcing become more integral to consumer decision-making, chocolate manufacturers must align their practices with these values, which can be logistically and financially challenging but is increasingly seen as essential for long-term success.

Digital and E-Commerce Expansion

The advent of digital technology and the rapid growth of e-commerce have transformed the way chocolate is marketed and sold in Saudi Arabia. Chocolatiers and retailers have recognized the potential of online channels to reach a broader audience and cater to changing consumer shopping habits.

E-commerce platforms and social media marketing have become important tools for promoting chocolate products and engaging with customers. Chocolatiers can showcase their offerings, share enticing visuals, and reach out to potential buyers through targeted advertising. This digital presence has become particularly valuable during global events, such as Valentine's Day and Ramadan, when gifting is a common practice.

The convenience of online shopping has also made it easier for consumers to explore a wide variety of chocolate brands and flavors, both local and international, without leaving their homes. The ability to compare products, read reviews, and access information about ingredients and sourcing has empowered consumers to make informed choices.

To thrive in this digital landscape, chocolate manufacturers must invest in robust e-commerce platforms, efficient logistics, and digital marketing strategies. Maintaining an active online presence and ensuring a seamless purchasing experience has become increasingly important to capture a share of the growing online chocolate market.

In conclusion, the chocolate industry in Saudi Arabia is undergoing a transformation, with trends like health-conscious choices, premium and artisanal chocolates, sustainability and ethical sourcing, and digital and e-commerce expansion shaping its future. Adaptation to these trends is crucial for both local and international chocolatiers looking to succeed in this evolving market. As consumer preferences continue to evolve, the industry's ability to innovate and meet these changing demands will be pivotal for its continued growth and success.

Segmental Insights

Type Insights

Dark chocolate is experiencing a remarkable surge in popularity within the Saudi Arabia chocolate market. This growing segment reflects shifting consumer preferences towards more health-conscious and refined choices. With its higher cocoa content and lower sugar content, dark chocolate is perceived as a healthier alternative, aligning with the global trend of mindful eating. Health-conscious consumers in Saudi Arabia are increasingly opting for dark chocolate due to its potential health benefits, such as antioxidants and reduced sugar intake.

Moreover, the premium and artisanal chocolate trend in the country has led to a proliferation of high-quality dark chocolate offerings, often infused with unique and exotic flavors. As the demand for sophisticated and health-conscious chocolate options continues to rise, dark chocolate is poised to maintain its strong presence in the Saudi market, appealing to a discerning and diverse consumer base seeking both indulgence and nutritional value.

Sales Channel Insights

The online segment of the Saudi Arabia chocolate market is experiencing substantial growth, reflecting the broader trend of e-commerce expansion in the country. As digital technology and online shopping become increasingly prevalent, the convenience and accessibility of purchasing chocolates on the internet have captured the attention of consumers.

E-commerce platforms offer a diverse range of chocolate products, both from local and international brands, making it easier for customers to explore and compare options without leaving their homes. The ability to read product descriptions, customer reviews, and access information about ingredients and sourcing has empowered consumers to make well-informed choices.

Furthermore, online channels and social media marketing have become critical tools for promoting chocolate products, especially during peak gifting seasons. To thrive in this evolving landscape, chocolate manufacturers and retailers must invest in robust e-commerce platforms, efficient logistics, and effective digital marketing strategies. The growth of the online segment is expected to continue, reshaping how chocolates are marketed, sold, and enjoyed in Saudi Arabia.


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Regional Insights

The Western region plays a dominant role in the Saudi Arabia chocolate market. This region, comprising cities like Riyadh, Jeddah, and Mecca, is the epicenter of the country's economic and cultural activities. It is home to a large and diverse population, including both Saudi nationals and expatriates, contributing to higher consumer demand for chocolates.

Furthermore, Western cities have witnessed extensive urbanization and development, leading to the establishment of modern retail outlets, luxury hotels, and shopping malls that prominently feature chocolates from both local and international brands. These areas are known for their vibrant food and hospitality sectors, making them prime locations for the sale and consumption of chocolates.

The Western region also hosts numerous international chocolate boutiques, offering a wide selection of premium and artisanal chocolates. The accessibility of these products, combined with the relatively higher disposable incomes in this region, makes it a thriving hub for chocolate consumption. This dominance of the Western region is a reflection of the broader economic and cultural trends shaping the Saudi Arabia chocolate market.

Recent Developments

  • In Oct 2022, Callebaut releases 100% dairy-free and plant-based chocolate NXT in Saudi Arabia. NXT is the first-ever plant-based, vegan, dairy-free, lactose-free, nut-free, and allergen-free dark and milk chocolate.
  • In April 2023, first quarter of 2023, Saudi Arabia imported more than 37 million kilograms of cocoa, putting the Kingdom on course to surpass the entire amount brought into the nation in 2022.

Key Market Players

  • Krafts Foods
  • Mars Inc.
  • Nestle
  • Bateel
  • Hershey Foods Corporation
  • Shirin Asal Company
  • Ferrero Group
  • Meiji Co., Ltd.
  • Mondelez International Inc.
  • Unilever Group Strauss Elite

 By Type

By Category

By End User

By Sales Channel

By Region

  • Milk Chocolate
  • White Chocolate
  • Dark Chocolate
  • Others
  • Countline
  • Tablet
  • Boxed
  • Others
  • Retail
  • Food Processing
  • Food Service Industry
  • Supermarkets/Hypermarkets
  • Grocery Stores
  • Discount Stores
  • Online
  • Others
  • Western
  • Northern & Central
  • Eastern
  • Southern

Report Scope:

In this report, the Saudi Arabia Chocolate market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Saudi Arabia Chocolate Market, By Type:

o   Milk Chocolate

o   White Chocolate

o   Dark Chocolate

o   Others

  • Saudi Arabia Chocolate Market, By Category:

o   Countline

o   Tablet

o   Boxed

o   Others

  • Saudi Arabia Chocolate Market, By End User:

o   Retail

o   Food Processing

o   Food Service Industry

  • Saudi Arabia Chocolate Market, By Sales Channel:

o   Supermarkets/Hypermarkets

o   Grocery Stores

o   Discount Stores

o   Online

o   Others

  • Saudi Arabia Chocolate Market, By Region:

o   Western

o   Northern & Central

o   Eastern

o   Southern

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the Saudi Arabia Chocolate market.

Available Customizations:

Saudi Arabia Chocolate Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Saudi Arabia Chocolate Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Introduction

1.1.  Product Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary      

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Voice of Customer

4.1.  Factors Influencing Purchase Decision

4.2.  Challenges Faced Post Purchase

4.3.  Brand Awareness

5.    Saudi Arabia Chocolate Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value

5.1.2.    By Volume

5.2.  Market Share & Forecast

5.2.1.    By Type Market Share Analysis (Milk Chocolate, White Chocolate, Dark Chocolate, Others)

5.2.2.    By Category Market Share Analysis (Countline, Tablet, Boxed, Others)

5.2.3.    By End User Market Share Analysis (Retail, Food Processing, Food Service Industry)

5.2.4.    By Sales Channel Market Share Analysis (Supermarkets/Hypermarkets, Grocery Stores, Discount Stores, Online, Others)

5.2.5.    By Regional Market Share Analysis

5.2.5.1.        Western Market Share Analysis

5.2.5.2.        Northern & Central Market Share Analysis

5.2.5.3.        Eastern Market Share Analysis

5.2.5.4.        Southern Market Share Analysis

5.2.6.    By Top 5 Companies Market Share Analysis, Others (2023)

5.3.  Saudi Arabia Chocolate Market Mapping & Opportunity Assessment

5.3.1.    By Type Market Mapping & Opportunity Assessment

5.3.2.    By Category Market Mapping & Opportunity Assessment

5.3.3.    By Sales Channel Market Mapping & Opportunity Assessment

5.3.4.    By Regional Market Mapping & Opportunity Assessment

6.    Saudi Arabia Milk Chocolate Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.1.2.    By Volume

6.2.  Market Share & Forecast

6.2.1.    By Category Market Share Analysis

6.2.2.    By Sales Channel Market Share Analysis

6.3.  Pricing Analysis

7.    Saudi Arabia White Chocolate Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.1.2.    By Volume

7.2.  Market Share & Forecast

7.2.1.    By Category Market Share Analysis

7.2.2.    By Sales Channel Market Share Analysis

7.3.  Pricing Analysis

8.    Saudi Arabia Dark Chocolate Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value

8.1.2.    By Volume

8.2.  Market Share & Forecast

8.2.1.    By Category Market Share Analysis

8.2.2.    By Sales Channel Market Share Analysis

8.3.  Pricing Analysis

9.    Market Dynamics

9.1.  Drivers

9.2.  Challenges

10. Impact of COVID-19 on Saudi Arabia Chocolate Market

10.1.             Impact Assessment Model   

10.1.1. Key Segments Impacted

10.1.2. Key Regions Impacted

11. Market Trends & Developments

12. Porter’s Five Forces Model

12.1.             Competitive Rivalry

12.2.             Bargaining Power of Buyers

12.3.             Bargaining Power of Suppliers

12.4.             Threat of New Entrants

12.5.             Threat of Substitutes

13. SWOT Analysis

13.1.             Strengths

13.2.             Weaknesses

13.3.             Opportunities

13.4.             Threats

14. Policy and Regulatory Landscape

15. Saudi Arabia Economic Profile

16. Competitive Landscape

16.1.   Company Profiles

16.1.1. Krafts Foods

16.1.1.1.     Company Details

16.1.1.2.     Product & Services

16.1.1.3.     Financials (As Per Availability)

16.1.1.4.     Key market Focus & Geographical Presence

16.1.1.5.     Recent Developments

16.1.1.6.     Key Management Personnel

16.1.2. Mars Inc.

16.1.2.1.     Company Details

16.1.2.2.     Product & Services

16.1.2.3.     Financials (As Per Availability)

16.1.2.4.     Key market Focus & Geographical Presence

16.1.2.5.     Recent Developments

16.1.2.6.     Key Management Personnel

16.1.3. Nestle

16.1.3.1.     Company Details

16.1.3.2.     Product & Services

16.1.3.3.     Financials (As Per Availability)

16.1.3.4.     Key market Focus & Geographical Presence

16.1.3.5.     Recent Developments

16.1.3.6.     Key Management Personnel

16.1.4. Bateel

16.1.4.1.     Company Details

16.1.4.2.     Product & Services

16.1.4.3.     Financials (As Per Availability)

16.1.4.4.     Key market Focus & Geographical Presence

16.1.4.5.     Recent Developments

16.1.4.6.     Key Management Personnel

16.1.5. Hershey Foods Corporation

16.1.5.1.     Company Details

16.1.5.2.     Product & Services

16.1.5.3.     Financials (As Per Availability)

16.1.5.4.     Key market Focus & Geographical Presence

16.1.5.5.     Recent Developments

16.1.5.6.     Key Management Personnel

16.1.6. Shirin Asal Company

16.1.6.1.     Company Details

16.1.6.2.     Product & Services

16.1.6.3.     Financials (As Per Availability)

16.1.6.4.     Key market Focus & Geographical Presence

16.1.6.5.     Recent Developments

16.1.6.6.     Key Management Personnel

16.1.7. Ferrero Group

16.1.7.1.     Company Details

16.1.7.2.     Product & Services

16.1.7.3.     Financials (As Per Availability)

16.1.7.4.     Key market Focus & Geographical Presence

16.1.7.5.     Recent Developments

16.1.7.6.     Key Management Personnel

16.1.8. Meiji Co., Ltd.

16.1.8.1.     Company Details

16.1.8.2.     Product & Services

16.1.8.3.     Financials (As Per Availability)

16.1.8.4.     Key market Focus & Geographical Presence

16.1.8.5.     Recent Developments

16.1.8.6.     Key Management Personnel

16.1.9. Mondelez International Inc.

16.1.9.1.     Company Details

16.1.9.2.     Product & Services

16.1.9.3.     Financials (As Per Availability)

16.1.9.4.     Key market Focus & Geographical Presence

16.1.9.5.     Recent Developments

16.1.9.6.     Key Management Personnel

16.1.10.              Unilever Group Strauss Elite

16.1.10.1.  Company Details

16.1.10.2.  Product & Services

16.1.10.3.  Financials (As Per Availability)

16.1.10.4.  Key market Focus & Geographical Presence

16.1.10.5.  Recent Developments

16.1.10.6.  Key Management Personnel

17. Strategic Recommendations

17.1.             Key Focus Areas

17.2.             Target Type

17.3.             Target Sales Channel

18. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the Saudi Arabia Chocolate market was estimated to be USD 989.76 million in 2022.

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The growth of the Saudi Arabia Chocolate market is primarily driven by factors such as rising disposable income, changing consumer preferences, cultural significance, and government initiatives to diversify the economy.

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Key trends in the Saudi Arabia Chocolate market include the rise of health-conscious choices, a demand for premium and artisanal chocolates, an emphasis on sustainability and ethical sourcing, and the expanding influence of digital and e-commerce channels.

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The major challenges in the Saudi Arabia Chocolate market include dealing with high temperature and humidity, navigating import regulations and customs duties, coping with intense competition and market saturation, and addressing health and dietary concerns.

profile

Parvati Sharma

Account Manager BD
Press Release

Saudi Arabia Chocolate Market to Grow with a CAGR of 4.96% through 2028

Nov, 2023

Saudi Arabia Chocolate Market is being propelled by increasing popularity of premium chocolate and the growing demand for dark chocolate.