Report

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.
TechSci Research performed primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of chocolate manufacturers and suppliers in Saudi Arabia. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research was able to include manufacturers that could not be identified due to the limitations of secondary research. TechSci Research analysed product offerings, distributing channel and regional of all major Chocolate suppliers across the country.
TechSci Research 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. TechSci Research 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 by the TechSci Research.
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, TechSci Research offers customizations according to the company�s specific needs. The following customization options are available for the report:
Channel Partner Analysis
� Detailed list of distributors and dealers across the country.
Company Information
� Detailed analysis and profiling of additional market players (up to five).
Product Information
� Detailed analysis of new products in the market and their driving forces in the market.