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Report
United Arab Emirates Chocolate Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 90 Pages I Mordor Intelligence
The United Arab Emirates chocolate market is projected to witness a CAGR of 6.6% during the forecast period, 2022 - 2027.
The low sales volume of the United Arab Emirates chocolate market was severely affected by the COVID-19 pandemic, including supply-side issues linked to quality and certification. Nevertheless, due to the pandemic, the market rapidly adopted the transition to digital commerce. As consumers are being asked to practice social distancing, e-commerce orders for groceries and other essentials have become a survival tool for the consumers. Thus, premium chocolate companies reported a substantial increase in online sales. Thus, many chocolate manufacturers are expanding their distribution through online channels.
Due to the popularity of confectionery snack types and relatively high unit prices, chocolates are likely to become more of a premium snack than an everyday snack. Moreover, premium brands have an affluent consumer base and are well placed to maintain or increase their retail value shares, supporting market growth.
Additionally, the consumers in the United Arab Emirates prefer to gift premium boxed chocolates, which are available in varied shapes and sizes and attractive packaging, over traditional sweets. This further elevates the influx of premium chocolate global brands, such as Godiva, in the country.
UAE Chocolate Market Trends
Rising Expenditure on Sugar Confectionery Products In The Country
The United Arab Emirates market witnessed a consistent rise in the consumption of sugar confectionery over the past few years, and the industry is predominantly driven by the consumption of chocolate products in the country. Due to international companies setting up factories in the country to the emergence of local small-scale organizations, there is an awareness of an expanding market and demand for standard and luxury chocolate that serves the purposes of gifting and personal/individual consumption. The premium packaging of chocolates opened new avenues for products under the luxury gifting categories. Chocolate producers focus on manufacturing new flavors that cater to changing consumer demands. Thus, premiumization followed by strong gifting culture and sweet indulgence is one of the major factors driving the market's growth. The innovative packaging and flavors in the premium chocolate segment with clean label claims hold potential and a promising market during the forecast period.
Box Assortments Fastest Growing Product Category
Gift giving is customary in the United Arab Emirates and regarded highly in business dealings, as well as in festivals and family gatherings. Many occasions have incorporated chocolate as part of the festivities. These include the Holy month of Ramadan, Eid, weddings, births, and social gatherings. Thus, the association of box assortment chocolates with the country's gifting culture, followed by consumers' indulgence in sugar confectionery products, is one of the major factors driving the segment in the country. Key players in the market have been observed to introduce unique products to meet this seasonal demand. It plays an essential role in the segment's growth and is anticipated to aid the market's growth over the forecast period. For instance, Forrey & Galland introduced a premium range of Ramadan gift boxes, whose design was inspired by the Sheikh Zayed Grand Mosque in Abu Dhabi. Notably, the box assortment chocolate category is projected to witness a growth rate greater than 8% during the forecast period.
UAE Chocolate Market Competitor Analysis
The United Arab Emirates chocolate market is fragmented and comprises numerous regional and international competitors. Mars Inc. is the market leader in this market study, capturing more than one-third share of the market. With a vast global presence and wide distribution networks, key players, such as Mars Incorporated, Mondelez International, Ferrero Group, Lindt & Sprungli AG, and Nestle, hold prominent shares in the United Arab Emirates chocolate market. To retain their position within the market or gain an advantage over their competitors, major players have focused on R&D.? Furthermore, the market for artisanal chocolate is expected to grow, particularly in some regions. Thus, new and evolving domestic companies are trying to increase their productivity and overall sales by extensively marketing these products in newer markets.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Softlines/Selflines
5.1.2 Boxed Assortments
5.1.3 Countlines
5.1.4 Molded Chocolates
5.1.5 Other Product Types
5.2 By Distribution Channel
5.2.1 Supermarkets/Hypermarkets
5.2.2 Convenience Stores
5.2.3 Specialty Stores
5.2.4 Online Retail
5.2.5 Other Distribution Channels
6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Nestle SA
6.4.2 Mondelez International
6.4.3 Mars Incorporated
6.4.4 Ferrero Group
6.4.5 Chocoladefabriken Lindt & Sprungli AG
6.4.6 Notions Group
6.4.7 IFFCO Group
6.4.8 Al Nassma
6.4.9 Patchi
6.4.10 Al Nassma
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 IMPACT OF COVID-19 ON THE MARKET
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