The United Arab Emirates (UAE), being largely unorganized and fragmented chocolate market, is offering immense opportunities for growth to domestic as well as international chocolate players. The country has been witnessing significant increase in demand for chocolates, especially during festive seasons. Consumers in the UAE prefer gifting premium boxed chocolates available in varied shapes and sizes in attractive packaging over traditional sweets. Due to busier life schedule and intake of high-fat content food, the country is also witnessing significant increase in the number of diabetic and obese patients. Such consumers are demanding for sugar-free chocolates that are manufactured using low-fat, organic ingredients. Considering the growing domestic demand for chocolates and limited manufacturing base, the UAE imports a large volume of chocolates from countries like the US, the UK, France, Germany, Canada, etc. To address the rising chocolate demand in the country, leading chocolate companies are offering their products through various points of sale like hypermarkets, supermarkets, and convenience stores. Many domestic players are also establishing exclusive chocolate boutiques to offer customized chocolate assortments mainly to elite and upper middle class consumers in country.
According to “UAE Chocolate Market Forecast & Opportunities, 2019”, the chocolate market in the UAE is projected to grow at a CAGR of around 6.09% during 2014-19 in value terms. The chocolate market in the UAE has been categorized into countlines, molded bars, and boxed chocolates, with countline segment expected to continue its market dominance through 2019. Boxed chocolate assortment segment is expected to increase at a faster pace as consumers, especially the elite class, prefer these premium chocolates offered by leading international brands. Mars GCC is the leading chocolate company in the UAE holding the largest market share in value terms through the forecast period. The company is projected to continue dominating the market through 2019. Other major players operating in the UAE chocolate market include Nestle Middle East FZE, Cadbury Middle East FZE, Ferrero SpA, and Lindt & Sprungli Group among others. However, rising prices of raw materials, mainly cocoa and sugar, is posing a major challenge to chocolate companies in the country. The price increase is affecting the profit margins of various chocolate players are declining. “UAE Chocolate Market Forecast & Opportunities, 2019” elaborates the following aspects related to chocolate market expansion in the UAE:
- UAE Chocolate Market Size, Share & Forecast
- Segmental Analysis – Countlines, Boxed Chocolates and Molded Chocolate Bars
- Policy & Regulatory Landscape
- Changing Market Trends & Emerging Opportunities
- Competitive Landscape & Strategic Recommendations
Why You Should Buy This Report?- To gain an in-depth understanding of chocolate Market in the UAE
- To identify on-going trends and anticipated growth in the coming years
- To help industry consultants, distributors and dealers align their market-centric strategies
- To obtain research based business decision and add weight to presentations and marketing materials
- To gain competitive knowledge of leading players
- To avail 10% customization in the report without any extra charges and get the research data or trends added in the report as per the buyer’s specific needs
Report Methodology The information contained in this report is based upon both primary and secondary sources. Primary research included interviews with chocolate producers and industry experts. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports, and proprietary databases.