GCC premium chocolate market is expected to grow at an impressive CAGR during the forecast period on account of increasing consumption of chocolates among youth and emergence of various varieties of chocolates to cater to wider audiences with the launch of sugar free, cholesterol free and low-fat chocolates. Online offerings and increasing number of product distribution channels are anticipated to positively influence the growth of the GCC premium chocolate market over the coming years. However, fluctuating prices of raw materials such as cocoa, sugar, etc. can hamper the growth of the market.
GCC premium chocolate market can be segmented based on product type, distribution channel and country. In terms of product type, dark chocolate is one of the most preferred flavors among young population. Dark chocolates possess high quantity of cocoa and are also claimed to help in the prevention of cardiac diseases, which is expected to give a boost to the market growth during forecast period. Based on distribution channel, share of online segment is expected to increase over the coming years as online channels offer discounts and there are numerous options to choose from.
Major companies operating in the GCC premium chocolate market recorded high sale volumes in the 2018 financial year and the trend is likely to continue in the forecast period. Key players operating in the GCC premium chocolate market include Mondelez International MEA, Nestle Middle East FZE, Ferrero Gulf HQ, Godiva Chocolatier, Barry Callebaut, Hotel Chocolat, The Hershey Company, Patchi HO UAE, Chocoladefabriken Lindt & Sprüngli and others. The companies are engaging in partnership to increase their reach in the region. For instance, Mondelez entered into a joint venture with Olayan and Khalifa Group in order to increase distribution in Saudi Arabia.
Years considered for this report
Historical Years2014-2017
Base Year2018
Estimated Year2019
Forecast Period2020–2024
Objective of the Study
- To analyze and forecast the market size of GCC premium chocolate market, in terms of value and volume.
- To classify and forecast GCC premium chocolate market based on product type, distribution channel and regional distribution.
- To identify drivers and challenges for GCC premium chocolate market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in GCC premium chocolate market.
- To conduct the pricing analysis for GCC premium chocolate market.
- To identify and analyze the profile of leading players involved in the GCC premium chocolate market.
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marketinsights Research performed both primary as well as exhaustive secondary research for this study. Initially, marketinsights Research sourced a list of manufacturers across the region. Subsequently, marketinsights Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, marketinsights Research could include the manufacturers which could not be identified due to the limitations of secondary research. marketinsights Research analyzed the product offerings, distribution channels and presence of all major manufacturers across the region.
marketinsights Research calculated the market size of GCC premium chocolate
Key Target Audience
- Premium chocolate manufacturers, suppliers, distributors and other stakeholders
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to premium chocolate market
- 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
Report Scope
In this report, GCC premium chocolate market has been segmented into following categories, in addition to the industry trends which have also been detailed below
- Market, By Product Type
- White Chocolate
- Milk Chocolate
- Dark Chocolate
- Market, By Distribution Channel
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- Market, By Country
- Saudi Arabia
- UAE
- Kuwait
- Qatar
- Bahrain
- Oman
