Availability of chocolates in various sizes and entry of foreign manufacturers are acting as key growth drivers for Saudi Arabia chocolate market.
According to TechSci Research report, “Saudi Arabia Chocolate Market By Type (Milk, White & Dark Chocolate), By Category (Countline, Tablet, Boxed and Others), By Age Group (5-14 Years, 15-24 Years, 25-54 Years, 55 Years and Above), By End User End User (Retail Vs Food Processing Vs Food Service Industry), By Distribution Channel (Supermarket/Hypermarket, Grocery Retail, Discount Store, Online, & Others), By Region, Forecast & Opportunities, 2025”, the market is anticipated to undergo a substantial CAGR during the forecast period. Key factors propelling the growth of Saudi Arabia chocolate market are proliferation of both international as well as local brands in the market and rise in per capita disposable income of the country. Moreover, growth in food & beverage sector and entry of new market players are some other major factors contributing to the growth of Saudi Arabia chocolate market. Also, increasing penetration of chocolates in various sizes including small and bite sized is also augmenting the Saudi Arabia chocolate market growth. With rise in health-awareness and body-consciousness, there is a growing demand for organic and dark chocolates in the country.
Furthermore, foreign chocolate brands are increasingly becoming popular in Saudi Arabia as they offer wide variety and are also coming up with organic chocolate tablets targeting their potential consumers. In addition to this, booming retail sector and increasing number of confectionaries, convenience stores, super markets and hypermarkets are also supporting the growth of Saudi Arabia chocolate market. Manufacturers are investing on marketing and product packaging to attract consumers. Also, they are using more organic ingredients to meet the growing requirements from health conscious consumers.
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Saudi Arabia chocolate market can be segmented based on type, category, distribution channel and region. Based on type, the market can be categorized into milk chocolates, white chocolates and dark chocolates. Among them, milk chocolates dominated the market until 2019 and the trend is likely to continue through 2025 as well. However, owing to the health benefits and heart diseases reducing properties, dark chocolates are also getting increased traction in Saudi Arabia.
Based on category, Saudi Arabia chocolate market can be segmented into countline, tablet, boxed and others. Among them, countlines chocolate held significant market share until 2019 and is further expected to lead the market revenues through 2025 on account of high demand among consumers within the age group of 25 years.
Major players operating in the Saudi Arabia chocolate market are Krafts Foods, Mars Inc, Nestle, Hershey Foods Corporation, Shirin Asal Company, Ferrero Group and Unilever Group Strauss Elite, among others. Key growth strategies being adopted by leading market players are new product launches, collaborations and partnerships.
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“The cravings for new and exotic flavors among consumers is leading to increased consumption of chocolates in Saudi Arabia. Apart from that, Central Saudi Arabia is expected to be one of the major revenue generator market for chocolate manufacturers due to the presence of large number of domestic as well as international players. Companies are also increasing expenses on advertising and promotions to build strong presence in the market. There is also a significant shift from traditional high sugar content chocolates to sugar free chocolates,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Saudi Arabia Chocolate Market By Type (Milk, White & Dark Chocolate), By Category (Countline, Tablet, Boxed and Others), By Age Group (5-14 Years, 15-24 Years, 25-54 Years, 55 Years and Above), By End User End User (Retail Vs Food Processing Vs Food Service Industry), By Distribution Channel (Supermarket/Hypermarket, Grocery Retail, Discount Store, Online, & Others), By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of chocolate market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Saudi Arabia chocolate market.
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