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Report
GCC Dark Chocolate Market by Distribution Channel (Supermarkets and hypermarkets, Convenience stores, Non-grocery retailers, and Others), and Region 2023-2028
Market Report I 2023-07-05 I 129 Pages I IMARC Group
Market Overview:
The GCC dark chocolate market size reached US$ 718.4 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,112 Million by 2028, exhibiting a growth rate (CAGR) of 7.80% during 2023-2028. The increasing health consciousness among consumers, changing lifestyles, shifting toward premium products, rising influence of Western culture, growing tourism and hospitality sector, and increasing gifting culture across the region represent some of the key factors driving the market.
Dark chocolate is characterized by its higher cocoa content and minimal sugar and milk solids additions. The key ingredients in dark chocolate are cocoa solids, cocoa butter, and sugar. The cocoa solids result in the intense flavor and dark color of the chocolate. They are derived from cocoa beans, which are fermented, roasted, and ground to produce cocoa liquor. The cocoa liquor is then pressed to separate the cocoa solids from the cocoa butter. The percentage of cocoa solids in dark chocolate can vary, typically ranging from 70% to 90% or even higher. Dark chocolate has a rich, complex taste profile that can be described as slightly bitter and earthy. The higher cocoa content contributes to a deeper chocolate flavor, and the reduced sugar content allows for a more pronounced cocoa taste. Dark chocolate is a good source of minerals like iron, magnesium, and copper. Apart from its distinct flavor, dark chocolate is also known for its potential health benefits. It contains antioxidants, such as flavonoids, which have been associated with various health advantages, including lowered risk of cardiovascular diseases and improved cognitive function.
GCC Dark Chocolate Market Trends:
One of the primary factors driving the market is the growing health consciousness among consumers. Dark chocolate is perceived as a healthier alternative to other types of chocolate due to its higher cocoa content and potential health benefits. Consumers are becoming more aware of the antioxidants and minerals present in dark chocolate, which may offer cardiovascular benefits and boost overall well-being. Additionally, the GCC region has witnessed a rise in disposable income and an increase in affluent consumers. This has led to changing lifestyles and preferences, including a shift toward premium and indulgent food products. Dark chocolate, due to its rich and intense flavor profile, is considered a luxurious treat. As consumers seek high-quality, gourmet experiences, the demand for premium dark chocolate has significantly increased. Other than this, the influence of Western culture and lifestyle trends has had a profound impact on consumer preferences in the GCC countries. Dark chocolate has gained popularity as a result of its association with European and American cuisines. The increasing exposure of the GCC region to international travel and media has contributed to the adoption of dark chocolate as a sophisticated and fashionable indulgence. Besides this, the expanding tourism and hospitality sector across the region plays a pivotal role in accelerating the sales of dark chocolate. Hotels, resorts, and cafes offer dark chocolate-based desserts, beverages, and confections to cater to the preferences of international tourists and discerning local consumers. Moreover, the GCC region has a strong gifting culture, particularly during festive occasions and celebrations. Consequently, with its premium taste and luxury packaging, dark chocolate has become a popular choice for gifting.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the GCC dark chocolate market, along with forecasts at the country level from 2023-2028. Our report has categorized the market based on the distribution channel.
Distribution Channel Insights:
Supermarkets and hypermarkets
Convenience stores
Non-grocery retailers
Others
The report has provided a detailed breakup and analysis of the dark chocolate market based on the distribution channel. This includes supermarkets, hypermarkets, convenience stores, non-grocery retailers, and others. According to the report, supermarkets and hypermarkets represented the largest segment.
Country Insights:
Saudi Arabia
United Arab Emirates
Qatar
Kuwait
Oman
Bahrain
The report has also provided a comprehensive analysis of all the major markets in GCC, which include Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman, and Bahrain. According to the report, Saudi Arabia was the largest market for dark chocolate. Some of the factors driving the Saudi Arabia dark chocolate market included increasing health consciousness, expanding middle-class and affluent population, and rising influence of Western culture and globalization.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the GCC dark chocolate market. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Al-Seedawi Sweets Factories Co, Bateel International LLC, Chocoladefabriken Lindt & Sprungli AG, Food Services Company, La Chocolaterie Galler, Ferrero Group, Mars Inc., Mondelez International Inc., Nestle Middle East, Patchi SAL, The Hershey Company, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report:
How has the GCC dark chocolate market performed so far, and how will it perform in the coming years?
What are the drivers, restraints, and opportunities in the GCC dark chocolate market?
What is the impact of each driver, restraint, and opportunity on the GCC dark chocolate market?
What is the breakup of the market based on the distribution channel?
Which is the most attractive distribution channel in the dark chocolate market?
What is the competitive structure of the GCC dark chocolate market?
Who are the key players/companies in the GCC dark chocolate market?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 GCC Dark Chocolate Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Distribution Channel
6.1 Supermarkets and Hypermarkets
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Convenience Stores
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Non-Grocery Retailers
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Others
6.4.1 Market Trends
6.4.2 Market Forecast
7 Market Breakup by Country
7.1 Saudi Arabia
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 United Arab Emirates
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Qatar
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Kuwait
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Oman
7.5.1 Market Trends
7.5.2 Market Forecast
7.6 Bahrain
7.6.1 Market Trends
7.6.2 Market Forecast
8 SWOT Analysis
8.1 Overview
8.2 Strengths
8.3 Weaknesses
8.4 Opportunities
8.5 Threats
9 Value Chain Analysis
10 Porters Five Forces Analysis
10.1 Overview
10.2 Bargaining Power of Buyers
10.3 Bargaining Power of Suppliers
10.4 Degree of Competition
10.5 Threat of New Entrants
10.6 Threat of Substitutes
11 Competitive Landscape
11.1 Market Structure
11.2 Key Players
11.3 Profiles of Key Players
11.3.1 Al-Seedawi Sweets Factories Co
11.3.2 Bateel International LLC
11.3.3 Chocoladefabriken Lindt & Sprungli AG
11.3.4 Food Services Company
11.3.5 La Chocolaterie Galler
11.3.6 Ferrero Group
11.3.7 Mars Inc.
11.3.8 Mondelez International Inc.
11.3.9 Nestle Middle East
11.3.10 Patchi SAL
11.3.11 The Hershey Company
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