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Middle East and Africa Premium Chocolate Market Size (2024 - 2029)

The Middle East and Africa Premium Chocolate Market is experiencing significant growth, driven by the increasing demand for premium chocolates as gifting items for special occasions. This trend has prompted major market players to launch and expand their product offerings, focusing on rebranding and reformulating mass-market chocolates to provide a more luxurious experience. Consumers in the region are seeking sophisticated tastes and unique products, leading to a rise in demand for high-quality premium chocolates. Attractive product offerings, including personalized and uniquely packaged options, are further influencing consumer spending, making premium chocolates a popular choice for gifts.

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Market Size of Middle East and Africa Premium Chocolate Industry

Middle East and Africa Premium Chocolate Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 10.40 %
Market Concentration High

Major Players

Middle East and Africa Premium Chocolate Market Major Players

*Disclaimer: Major Players sorted in no particular order

MEA Premium Chocolate Market Analysis

The Middle East and African Premium Chocolate Market is projected to register a CAGR of 10.4% during the forecast period.

The rising popularity of premium chocolates as gifting items for special occasions is identified as a key market driver in the region. Further, this trend has created more opportunities and scope, which major market players, such as Mars Inc., Mondelez International, and Nestle, are addressing with increasing product launches and expansions. They are keen on rebranding or reformulating their mass-market chocolates to sell a more expensive premium experience and create a healthier image. Additionally, in line with this trend, consumers in the Middle East and Africa are looking out for more sophisticated tastes and different products from common brands found in the retail sector. This has created a surge in demand for high-quality premium chocolate products. For instance, Lindt and Ferrero were introduced a little over a decade ago, which has considerably raised the profile of premium chocolates in South Africa.

Moreover, attractive product offerings from regional and global brands are influencing consumer spending on premium chocolates. For instance, in Dubai, the chocolate producer Forrey and Galland offers a range of classic and Arabic fusion handmade chocolates. It also offers an option of personalization to its customers to get chocolates of their taste. Few other chocolate companies, such as Cacao Sampaka and Godiva, have an extensive catalog of corporate gift chocolate boxes. Such offerings with unique packaging and customization options from major companies in the region are also making premium chocolates a perfect gift for any occasion.

MEA Premium Chocolate Industry Segmentation

Premium chocolate can refer to a number of things, such as the high quantity of cocoa used in the bar, sustainably sourced ingredients, a combination of rich ingredients, such as raspberry chunks or alcohol, and sophisticated packaging. 

The Middle East and African premium chocolate market is segmented based on product type, distribution channel, and geography. By product type, the market is segmented into dark chocolates and white and milk chocolates. By distribution channel, the market is segmented into hypermarkets/supermarkets, convenience stores, online retail stores, and other distribution channels. It provides an analysis of emerging and established economies across the region, including South Africa, Saudi Arabia, the United Arab Emirates, and the Rest of Middle East and Africa. For each segment, market sizing and forecasts are provided in terms of value in USD million.

Product Type
Dark Premium Chocolate
White and Milk Premium Chocolate
Distribution Channel
Supermarkets and Hypermarkets
Convenience Stores
Online Retail Channels
Other Distribution Channels
Geography
South Africa
Saudi Arabia
United Arab Emirates
Rest of Middle East and Africa
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Middle East and Africa Premium Chocolate Market Size Summary

The Middle East and Africa premium chocolate market is experiencing significant growth, driven by the increasing popularity of premium chocolates as gifting items for special occasions. Major players like Mars Inc., Mondelez International, and Nestle are capitalizing on this trend by launching new products and expanding their offerings to cater to consumers seeking sophisticated tastes and high-quality products. The demand for premium chocolates is further bolstered by attractive product offerings from both regional and global brands, such as Forrey and Galland in Dubai, which offers personalized and fusion chocolates. The health benefits associated with dark chocolate, including its potential to lower blood pressure and improve heart health, are also contributing to the rising demand, particularly in countries like Saudi Arabia and South Africa, where there is a growing interest in fine flavor cocoa.

The competitive landscape of the premium chocolate market in the Middle East and Africa is marked by the presence of both global and regional players, with companies focusing on expanding their distribution channels and introducing innovative products to attract young consumers. The market is also benefiting from the increasing disposable incomes and interest in premium chocolates among middle-income consumers in Saudi Arabia. Tourists and travelers contribute significantly to the sales, prompting companies to enhance their presence in the travel retail sector. Notable players in the market include Chocoladefabriken Lindt & Sprüngli AG, Al Nassma Chocolate LLC, and Godiva, among others. Recent developments, such as the opening of new stores and the introduction of travel retail exclusives, highlight the ongoing efforts to meet the growing demand for premium chocolates in the region.

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Middle East and Africa Premium Chocolate Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Product Type

      1. 2.1.1 Dark Premium Chocolate

      2. 2.1.2 White and Milk Premium Chocolate

    2. 2.2 Distribution Channel

      1. 2.2.1 Supermarkets and Hypermarkets

      2. 2.2.2 Convenience Stores

      3. 2.2.3 Online Retail Channels

      4. 2.2.4 Other Distribution Channels

    3. 2.3 Geography

      1. 2.3.1 South Africa

      2. 2.3.2 Saudi Arabia

      3. 2.3.3 United Arab Emirates

      4. 2.3.4 Rest of Middle East and Africa

Middle East and Africa Premium Chocolate Market Size FAQs

The Middle East and Africa Premium Chocolate Market is projected to register a CAGR of 10.40% during the forecast period (2024-2029)

Al Nassma Chocolate LLC., Cocoa Sampaka, Mirzam, Al Quoz, Chocoladefabriken Lindt & Sprüngli AG and Godiva are the major companies operating in the Middle East and Africa Premium Chocolate Market.

Middle East and Africa Premium Chocolate Report Snapshots

Middle East and Africa Premium Chocolate Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)