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Saudi Arabia Chocolate Market Size

The Saudi Arabia chocolate market is experiencing growth, with its market size expanding due to a shift in consumer preferences towards convenience shopping. The retailing segment, particularly convenience stores, plays a significant role in this growth, supported by the development of modern retail channels like supermarkets. Online channels are emerging as the fastest-growing distribution method, driven by high internet penetration and the demand for quick delivery options. This evolving landscape is contributing to the overall increase in the market's scale and reach.

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Market Size of saudi arabia chocolate Industry

Saudi Arabia Chocolate Market Summary
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svg icon Study Period 2018 - 2030
svg icon Market Size (2024) USD 1.18 Billion
svg icon Market Size (2030) USD 1.53 Billion
svg icon Largest Share by Distribution Channel Supermarket/Hypermarket
svg icon CAGR (2024 - 2030) 4.47 %
svg icon Fastest Growing by Distribution Channel Online Retail Store
svg icon Market Concentration Medium

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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Saudi Arabia Chocolate Market Analysis

The Saudi Arabia Chocolate Market size is estimated at 1.18 billion USD in 2024, and is expected to reach 1.53 billion USD by 2030, growing at a CAGR of 4.47% during the forecast period (2024-2030).

1.18 Billion

Market Size in 2024 (USD)

1.53 Billion

Market Size in 2030 (USD)

2.09 %

CAGR (2018-2023)

4.47 %

CAGR (2024-2030)

Largest Segment by Confectionery Variant

64.65 %

value share, Milk and White Chocolate, 2023

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The innovative flavor offerings possible in white chocolate, followed by the preference for varied taste profiles in the country, are anticipated to drive segmental growth.

Largest Segment by Distribution Channel

59.64 %

value share, Supermarket/Hypermarket, 2023

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Supermarkets and hypermarkets are the key off-trade distribution channels in the region, as consumers prefer purchasing chocolates, other confectioneries, and grocery items.

Fastest-growing Segment by Confectionery variant

5.20 %

Projected CAGR, Dark Chocolate, 2024-2030

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The health benefits dark chocolate perceives due to its greater cocoa percentage, premiumization and the rising health awareness are making it a larger segment in the region.

Fastest-growing Segment by Distribution Channel

9.01 %

Projected CAGR, Online Retail Store, 2024-2030

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Social media platforms are increasing product awareness, making it easier to market chocolate products directly to consumers online, making it the fastest-growing segment.

Leading Market Player

42.10 %

market share, Mars Incorporated, 2022

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The products offered by Mars have various national and international certifications with a special focus on quality and high standards making them market leader in the region.

Growing expansion by leading supermarkets and hypermarket chains resulting in higher sales through these channels

  • The overall retailing segment maintained a growth rate of 4.36% by value in 2023 compared to 2022. The projected expansion is driven by consumers' increasing preference for convenience shopping facilities within the market. Within the retailing segment, the convenience stores segment is the largest retailing unit in terms of volume in 2023. Some of the popular convenience stores in the Middle East are Spinneys, LuLu Express, 7-Eleven, Zoom, Fresh Plus, and Circle K. By 2028, the convenience store segment in the Middle East region is estimated to register a growth of 6.37% by volume from 2023 by adopting a range of marketing ideologies like store designs, integrated technologies, and digital signage.
  • Supermarkets are the second-largest channel in the Saudi Arabian chocolate confectionery market. The channel grew by 4.12% by value in 2023 compared to 2022 in the overall distribution channels segment for the Middle East’s chocolate confectionery sales in 2023. The development of modern retail channels such as supermarkets or hypermarkets has made it feasible for consumers to purchase high-quality chocolate products. The proximity factor of these channels in the countries gives them an added advantage of influencing the consumer’s decision to purchase among the large variety of products available in the market.
  • Online channels are the fastest-growing distribution channels through which chocolate confectionery products are consumed in the region. Consumers prefer online channels as they provide quick, convenient delivery options. The high internet penetration in the region also drives the demand for these channels. Among all the countries in the region, Saudi Arabia had the highest internet penetration, at 99% as of July 2023.
Saudi Arabia Chocolate Market

Saudi Arabia Chocolate Industry Segmentation

Dark Chocolate, Milk and White Chocolate are covered as segments by Confectionery Variant. Convenience Store, Online Retail Store, Supermarket/Hypermarket, Others are covered as segments by Distribution Channel.

  • The overall retailing segment maintained a growth rate of 4.36% by value in 2023 compared to 2022. The projected expansion is driven by consumers' increasing preference for convenience shopping facilities within the market. Within the retailing segment, the convenience stores segment is the largest retailing unit in terms of volume in 2023. Some of the popular convenience stores in the Middle East are Spinneys, LuLu Express, 7-Eleven, Zoom, Fresh Plus, and Circle K. By 2028, the convenience store segment in the Middle East region is estimated to register a growth of 6.37% by volume from 2023 by adopting a range of marketing ideologies like store designs, integrated technologies, and digital signage.
  • Supermarkets are the second-largest channel in the Saudi Arabian chocolate confectionery market. The channel grew by 4.12% by value in 2023 compared to 2022 in the overall distribution channels segment for the Middle East’s chocolate confectionery sales in 2023. The development of modern retail channels such as supermarkets or hypermarkets has made it feasible for consumers to purchase high-quality chocolate products. The proximity factor of these channels in the countries gives them an added advantage of influencing the consumer’s decision to purchase among the large variety of products available in the market.
  • Online channels are the fastest-growing distribution channels through which chocolate confectionery products are consumed in the region. Consumers prefer online channels as they provide quick, convenient delivery options. The high internet penetration in the region also drives the demand for these channels. Among all the countries in the region, Saudi Arabia had the highest internet penetration, at 99% as of July 2023.
Confectionery Variant
Dark Chocolate
Milk and White Chocolate
Distribution Channel
Convenience Store
Online Retail Store
Supermarket/Hypermarket
Others
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Saudi Arabia Chocolate Market Size Summary

The Saudi Arabia chocolate market is experiencing a steady expansion, driven by a growing consumer preference for convenience shopping and modern retail channels. Convenience stores, such as Spinneys and LuLu Express, dominate the retail segment in terms of volume, while supermarkets and hypermarkets offer consumers easy access to high-quality chocolate products. The rise of online channels, fueled by high internet penetration, is further accelerating market growth, providing consumers with quick and convenient delivery options. Chocolate consumption in Saudi Arabia is deeply integrated into cultural practices, with special occasions like Eid and Ramzan significantly influencing purchasing decisions. Packaging and ingredient quality play crucial roles in impulse buying, with over half of consumers showing a preference for premium chocolate products.

The market is moderately consolidated, with major players like Ferrero International, Mars Incorporated, Mondelēz International, Nestlé SA, and Yıldız Holding holding significant market shares. These companies are actively investing in the region to enhance their presence and cater to evolving consumer preferences. For instance, Nestlé has announced substantial investments to establish a new manufacturing plant, while Barry Callebaut has introduced innovative plant-based chocolate products to meet the growing demand for healthier options. Despite the popularity of chocolate, there are mixed opinions regarding its health implications, influencing consumer choices and market dynamics.

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Saudi Arabia Chocolate Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)

    1. 1.1 Confectionery Variant

      1. 1.1.1 Dark Chocolate

      2. 1.1.2 Milk and White Chocolate

    2. 1.2 Distribution Channel

      1. 1.2.1 Convenience Store

      2. 1.2.2 Online Retail Store

      3. 1.2.3 Supermarket/Hypermarket

      4. 1.2.4 Others

Saudi Arabia Chocolate Market Size FAQs

The Saudi Arabia Chocolate Market size is expected to reach USD 1.18 billion in 2024 and grow at a CAGR of 4.47% to reach USD 1.53 billion by 2030.

In 2024, the Saudi Arabia Chocolate Market size is expected to reach USD 1.18 billion.

Saudi Arabia Chocolate Market Report Snapshots

Saudi Arabia Chocolate Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2030