ÌÇÐÄvlog´«Ã½

MEA Premium Chocolate Market Analysis

The Middle East and African Premium Chocolate Market is projected to register a CAGR of 10.4% during the forecast period.

The rising popularity of premium chocolates as gifting items for special occasions is identified as a key market driver in the region. Further, this trend has created more opportunities and scope, which major market players, such as Mars Inc., Mondelez International, and Nestle, are addressing with increasing product launches and expansions. They are keen on rebranding or reformulating their mass-market chocolates to sell a more expensive premium experience and create a healthier image. Additionally, in line with this trend, consumers in the Middle East and Africa are looking out for more sophisticated tastes and different products from common brands found in the retail sector. This has created a surge in demand for high-quality premium chocolate products. For instance, Lindt and Ferrero were introduced a little over a decade ago, which has considerably raised the profile of premium chocolates in South Africa.

Moreover, attractive product offerings from regional and global brands are influencing consumer spending on premium chocolates. For instance, in Dubai, the chocolate producer Forrey and Galland offers a range of classic and Arabic fusion handmade chocolates. It also offers an option of personalization to its customers to get chocolates of their taste. Few other chocolate companies, such as Cacao Sampaka and Godiva, have an extensive catalog of corporate gift chocolate boxes. Such offerings with unique packaging and customization options from major companies in the region are also making premium chocolates a perfect gift for any occasion.

MEA Premium Chocolate Industry Segmentation

Premium chocolate can refer to a number of things, such as the high quantity of cocoa used in the bar, sustainably sourced ingredients, a combination of rich ingredients, such as raspberry chunks or alcohol, and sophisticated packaging. 

The Middle East and African premium chocolate market is segmented based on product type, distribution channel, and geography. By product type, the market is segmented into dark chocolates and white and milk chocolates. By distribution channel, the market is segmented into hypermarkets/supermarkets, convenience stores, online retail stores, and other distribution channels. It provides an analysis of emerging and established economies across the region, including South Africa, Saudi Arabia, the United Arab Emirates, and the Rest of Middle East and Africa. For each segment, market sizing and forecasts are provided in terms of value in USD million.