Market Trends of Middle East and Africa Premium Chocolate Industry
This section covers the major market trends shaping the MEA Premium Chocolate Market according to our research experts:
Health Benefits of High Quality Premium Chocolates Drives the Market Growth
Over the years, several studies have pointed to the health benefits of eating dark chocolate, that is, chocolate with a high cocoa content (usually 65 to 80%). For starters, dark chocolate usually has less sugar and more cocoa solids, which is where beneficial flavonol compounds reside. Flavonols are thought to lower blood pressure and improve heart health. Raw cacao has many beneficial qualities: it is high in magnesium, which can curb sugar cravings, is high in fiber, and contains iron and protein, as well as antioxidants. Furthermore, a few recent research findings indicate that chocolate consumption aids in looking younger due to its anti-aging properties. It also relieves stress. This is expected to push the demand for chocolate in the Middle East and African countries. Moreover, the demand for fine flavor cocoa in regions such as Saudi Arabia and South Africa is experiencing substantial growth. Ultra- and high-end beans are used for gourmet chocolates and regular, and low-fine beans are used for regular premium chocolates. This development is driven by the health trend and the quest for more exclusive products.
Saudi Arabia Holds The Largest Share
The chocolate market in Saudi Arabia is driven by the rising consumer interest in premium chocolates and increasing disposable incomes among middle-income consumers, coupled with the manufacturers widening their distribution channels with the motto to reach a more extensive consumer base, thus capturing the market share. Additionally, most manufacturers offer unique packaging options and personalization into different sizes and shapes according to the consumers' convenience, which supports the growing demand for premium chocolates in the country. Premium chocolates are becoming more popular as a perfect gifting option owing to their packaging styles and multiple offerings. Artisan chocolates are made of natural ingredients with a lower carbon footprint than other chocolates available in the market. They are in demand among the consumers of the country. Moreover, in line with this growing demand, most companies in Saudi Arabia have an organized distribution channel. The supermarkets/hypermarkets offer discounts on heavy-priced premium chocolate products, which is expected to boost sales even further.
