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Saudi Arabia Chocolate Market, By Type (Milk, White & Dark Chocolate), By Category (Countline, Tablet, Boxed and Others), By Age Group, By End User End User, By Distribution Channel, Competition, Forecast & Opportunities, 2027

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  • 72 Pages
  • March 2022
  • Region: Saudi Arabia
  • TechSci Research
  • ID: 5562190
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Saudi Arabia chocolate market is anticipated to grow at a formidable CAGR during the forecast period. The growth can be attributed to the rising demand for confectionery products and the increasing penetration of chocolates in different sizes, including small and bite-size pieces. The entry of foreign players in the Saudi Arabia and the rise in disposable incomes of the population are contributing to the significant growth of Saudi Arabia chocolate market. During the lockdown, the demand for chocolates increased significantly as consumers needed a serotonin boost, which led to their high-volume sales on online channels, supermarkets, and hypermarkets. Besides, eateries and restaurants offer a wide variety of chocolate dishes incorporating different kinds of chocolates like milk chocolate, dark chocolates, white chocolate, etc. This significantly contributes to the growth of the Saudi Arabia chocolate market.

Moreover, strengthening collaborations between fine cocoa producers and chocolate companies to eliminate supply-side issues linked to quality and certifications is expected to improve premium chocolates' sales, which is projected to boost the growth of Saudi Arabia chocolate market. Rising demands for organic and dark chocolates due to their health benefits like reduced risk of cardiovascular disorders, reduced cholesterol levels, decreased blood pressure, etc., are further expected to fuel the growth of Saudi Arabia chocolate market. However, increasing health awareness among the population could dampen the demand for chocolates with high calorific value, which could restrict the growth of Saudi Arabia chocolate market.

Saudi Arabia chocolate market is segmented based on type, category, distribution channel, and region. Based on type, Saudi Arabia chocolate market is further divided into milk chocolate, white chocolate, and dark chocolate. Milk chocolate is expected to dominate the Saudi Arabia chocolate market during the forecast period as they are increasingly being incorporated in beverages and confectionery products. However, the dark chocolate segment is registering the fastest growth in Saudi Arabia chocolate market due to the rise in the health-conscious population in the country.

Some of the major players operating in the Saudi Arabia chocolate market are Krafts Foods, Mars Inc, Nestle, Hershey Foods Corporation, Shirin Asal Company, Ferrero Group, Unilever Group Strauss Elite. New product launches to enhance the portfolio and capture untapped markets remain a preferred strategy for Saudi Arabia chocolate market players to sustain growth.

Years considered for this report:

  • Historical Years: 2017-2020
  • Base Year: 2021
  • Estimated Year: 2022
  • Forecast Period: 2023-2027

Objective of the Study:

  • To analyze and forecast market size of the Saudi Arabia chocolate market, in terms of value & Volume.
  • To define, classify and forecast the Saudi Arabia chocolate market on the basis of type, category, age group, end user, distribution channel and region.
  • To scrutinize the detailed market segmentation and forecast the market size, in terms of value, on the basis of type segmenting Saudi Arabia Chocolate market, namely, milk, white & dark chocolate.
  • To identify tailwinds and headwinds for the Saudi Arabia chocolate market.
  • To examine competitive developments such as expansions, new product launches, supply contracts, and mergers & acquisitions in the Saudi Arabia chocolate market.
  • To evaluate competitor pricing, average market selling prices and trends in the Saudi Arabia chocolate market.
  • To strategically profile the leading players, which are involved in the supply of chocolates.

The publisher performed primary as well as exhaustive secondary research for this study. Initially, the publisher sourced a list of chocolate manufacturers and suppliers in Saudi Arabia. Subsequently, the publisher conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, the publisher was able to include manufacturers that could not be identified due to the limitations of secondary research. The publisher analysed product offerings, distributing channel and regional of all major Chocolate suppliers across the country.

The publisher calculated the market size for the Chocolate market using a bottom-up approach, where manufacturers’ value sales data for different types of (milk, white & dark chocolate), chocolate was recorded as well as forecast for the future years was made. The publisher sourced these values from industry experts and company representatives, and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company annual reports, white papers, investor presentations and financial reports were also used.

Key Target Audience:

  • Saudi Arabia Chocolate manufacturers
  • Saudi Arabia Chocolate suppliers
  • Research organizations and consulting companies
  • Associations, organizations, associations and alliances related to chocolate product manufacturing
  • Government bodies such as regulating authorities and policy makers
  • Industry associations
  • Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for industry stakeholders, such as chocolate manufacturers, distributors, dealers and policy makers, which market segments should be targeted over the coming years (next five years) in order to strategize investments and capitalize on growth of the market.

Report Scope:

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

Saudi Arabia Chocolate Market, By Type:

  • Milk chocolate
  • White chocolate
  • Dark Chocolate

Saudi Arabia Chocolate Market, By Category:

  • Countline
  • Tablet
  • Boxed
  • Others

Saudi Arabia Chocolate Market, By Distribution Channel:

  • Groceries
  • Hypermarket/Supermarkets
  • Convenience Stores
  • Chocolate Boutiques
  • Online Retail
  • Others

Saudi Arabia Chocolate Market, By Region:

  • Central Region
  • Western Region
  • Eastern Region
  • Northern Region
  • Southern Region

Competitive Landscape

  • Competition Benchmarking: Benchmarking of leading 10 players.
  • Company Profiles: Detailed analysis of the major companies present in the Saudi Arabia chocolate market.

Available Customizations:

With the given market data, the publisher offers customizations according to the company’s specific needs.

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Table of Contents

1. Product Overview2. Research Methodology3. Executive Summary4. Impact of COVID-19 on Saudi Arabia Chocolate Market
5. Voice of Customer
5.1. Factors Influencing Purchase Decision
5.2. Product Awareness
5.3. Brand Awareness
6. Global Chocolate Market Overview
7. Saudi Arabia Chocolate Market Outlook
7.1. Raw Material Analysis
7.2. Market Size & Forecast
7.2.1. By Value & Volume
7.3. Market Share & Forecast
7.3.1. By Type (Milk, White & Dark Chocolate)
7.3.2. By Category (Countline, Tablet, Boxed and Others)
7.3.3. By Age Group (5-14 Years, 15-24 Years, 25-54 Years, 55 Years and Above)
7.3.4. By End User (Retail Vs Food Processing Vs Food Service Industry)
7.3.5. By Distribution Channel (Groceries, Hypermarket/Supermarkets, Convenience Stores, Chocolate Boutiques, Online Retail & Others)
7.3.6. By Region
7.3.7. By Company (2021)
7.3.8. Market Map
8. Saudi Arabia Milk Chocolate Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value & Volume
8.2. Market Share & Forecast
8.2.1. By Category
8.2.2. By Age Group
8.3. Pricing Analysis
9. Saudi Arabia White Chocolate Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value & Volume
9.2. Market Share & Forecast
9.2.1. By Category
9.2.2. By Age Group
9.3. Pricing Analysis
10. Saudi Arabia Dark Chocolate Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value & Volume
10.2. Market Share & Forecast
10.2.1. By Category
10.2.2. By Age Group
10.3. Pricing Analysis
11. Saudi Arabia Chocolate Market: Supply Chain Analysis
12. Market Dynamics
12.1. Drivers
12.2. Challenges
13. Market Trends and Developments14. Policy & Regulatory Landscape15. Saudi Arabia Economic Profile
16. Competitive Landscape
16.1. Company Profiles
16.1.1. Krafts Foods
16.1.2. Mars Inc.
16.1.3. Nestle
16.1.4. Hershey Foods Corporation
16.1.5. Shirin Asal Company
16.1.6. Ferrero Group
16.1.7. Unilever Group Strauss Elite
17. Strategic Recommendations

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Krafts Foods
  • Mars Inc.
  • Nestle
  • Hershey Foods Corporation
  • Shirin Asal Company
  • Ferrero Group
  • Unilever Group Strauss Elite