Chocolate Market in MEA by Type and Geography - Forecast and Analysis 2022-2026

Published: Jan 2022 Pages: 120 SKU: IRTNTR72160

The chocolate market share in MEA is expected to increase by USD 4.66 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 8.41%.

This chocolate market in MEA research report will help companies evaluate their business approaches. Furthermore, this report extensively covers the chocolate market in MEA segmentation by type (milk, dark, and white) and geography (the UAE, Saudi Arabia, Israel, South Africa, and the rest of MEA). The chocolate market in MEA report also offers information on several market vendors, including Arcor Group, Cacau Show, Ezaki Glico Co. Ltd., Ferrero International SA, Kellogg Co., La Maison du Chocolat, Lindt and Sprungli (USA) Inc., Mars Inc., Meiji Holdings Co. Ltd., and Theo Chocolate Inc. among others.

What will the Chocolate Market Size in MEA be During the Forecast Period?

Download the Free Report Sample to Unlock the Chocolate Market Size in MEA for the Forecast Period and Other Important Statistics

 

Chocolate Market in MEA: Key Drivers, Trends, and Challenges

The rising awareness regarding health benefits offered by chocolate is notably driving the chocolate market growth in MEA, although factors such as price fluctuation of raw materials may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the chocolate industry in MEA. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Chocolate Market Driver in MEA

One of the key factors driving the chocolate market growth in MEA is the rising awareness regarding health benefits offered by chocolate as it is especially recommended to slow down aging and prevent certain diseases, such as cardiovascular diseases (CVDs). In addition, antioxidant-enrichment, blood pressure-suppressing character, and assumed anti-aging properties of chocolate will remain the key factors propelling the adoption of chocolate and chocolate products. Furthermore, a few recent research findings indicate that chocolate consumption aids in looking younger and relieves stress, which is expected to further push the demand for chocolate in the Middle East and African countries.

Key Chocolate Market Trend in MEA

Another key factor driving the chocolate market growth in MEA is the impulse purchasing behavior of consumers. Confectionery items displayed at prominent places such as shops and supermarkets can attract buyers? attention and cause them to indulge in impulse purchases. Furthermore, the rise in disposable income and the changes in lifestyles will further drive such impulsive purchases. Manufacturers are investing in product designing, labeling, pricing, and packaging after witnessing the change in perception toward products. This has further led vendors to gain a prompt and spontaneous response from consumers. For instance, purple color was ranked as the most influential color in terms of chocolate packaging, followed by red and blue, color packages. Thus, such impulsive behavior of the consumers would further drive the demand for chocolate in MEA during the forecast period.

Key Chocolate Market Challenge in MEA

One of the key challenges to the chocolate market growth in MEA is the price fluctuation of raw materials. The continuous upsurge in the prices of cocoa has further affected the final prices of chocolate because cocoa is the main ingredient for chocolate production. For instance, the price of cocoa was USD 2.37/Kg in 2020, which was USD 2/Kg in 2017. In addition, according to industry body Indian Sugar Mills Association (ISMA), after shipping out a record 7.5 million tons of sugar in 2020-2021, Indian mills have signed contracts to export 1.2 million tons in the period of October to December 2021-2022 marketing year. However, due to weak international prices for sugar, the export of sugar from India is expected to decline, which will further hinder the market growth in the forecast period.

This chocolate market in MEA analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the chocolate market in MEA as a part of the global packaged foods and meats market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the chocolate market in MEA during the forecast period.

Who are the Major Chocolate Market Vendors in MEA?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Arcor Group
  • Cacau Show
  • Ezaki Glico Co. Ltd.
  • Ferrero International SA
  • Kellogg Co.
  • La Maison du Chocolat
  • Lindt and Sprungli (USA) Inc.
  • Mars Inc.
  • Meiji Holdings Co. Ltd.
  • Theo Chocolate Inc.

 

This statistical study of the chocolate market in MEA encompasses successful business strategies deployed by the key vendors. The chocolate market in MEA is fragmented and the vendors are deploying growth strategies such as product innovation to compete in the market.

Product Insights and News

  • Cacau Show - The company offers chocolate products such as Slack lanut, Seal to milk slack, and Cripsy bytes to milk.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The chocolate market in MEA forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Chocolate Market in MEA Value Chain Analysis

Our report provides extensive information on the value chain analysis for the chocolate market in MEA, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global packaged foods and meats market includes the following core components:

  • Input
  • Inbound logistics
  • Primary processing
  • Secondary and tertiary processing
  • Outbound logistics
  • End-customers
  • Marketing and sales
  • Services
  • Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Chocolate Market in MEA?

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32% of the market's growth will originate from UAE during the forecast period. The UAE, Saudi Arabia, and Israel are the key markets for chocolate in MEA. Market growth in this region will be faster than the growth of the market in Saudi Arabia, Israel, and the Rest of MEA

The significant increase in the demand and consumption of countline chocolate will facilitate the chocolate market growth in UAE over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The UAE chocolate market was severely affected by the low sales volume due to the COVID-19 pandemic in 2020 due to the nationwide lockdown, which led to several issues such as supply chain disruptions of raw materials and final products. However, government initiatives such as mass vaccination drives and numerous initiatives such as a ban on public gatherings helped the regional government to curb the spread of the virus. This has further led to the gradual increase in economic activities, such as the logistic activities which manage the supply chain of raw materials required for the production of chocolate. Thus, the market is expected to flourish in the region during the forecast period.

What are the Revenue-generating Type Segments in the Chocolate Market in MEA?

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The chocolate market share growth in MEA by the milk segment will be significant during the forecast period. The high demand for milk chocolate, owing to several health benefits such as it helps in boosting memory, smoothening and hydrating the skin, reducing the risk of heart strokes and attacks, and improving the immune system, will drive the market growth through this segment in the coming years.

This report provides an accurate prediction of the contribution of all the segments to the growth of the chocolate market size in MEA and actionable market insights on post COVID-19 impact on each segment.

 

Chocolate Market Scope in MEA

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 8.41%

Market growth 2022-2026

$ 4.66 billion

Market structure

Fragmented

YoY growth (%)

6.97

Regional analysis

MEA

Performing market contribution

UAE at 32%

Key consumer countries

UAE, Saudi Arabia, Israel, and Rest of MEA

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Arcor Group, Cacau Show, Ezaki Glico Co. Ltd., Ferrero International SA, Kellogg Co., La Maison du Chocolat, Lindt and Sprungli (USA) Inc., Mars Inc., Meiji Holdings Co. Ltd., and Theo Chocolate Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Chocolate Market in MEA Report ?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive chocolate market growth in MEA during the next five years
  • Precise estimation of the chocolate market size in MEA  and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the chocolate industry in MEA  
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of chocolate market vendors in MEA 

We can help! Our analysts can customize this report to meet your requirements. Get in touch

***1. Executive Summary                           

                **1.1 Market Overview

                                *Exhibit 01:  Key Finding 1

                                *Exhibit 02:  Key Finding 2

                                *Exhibit 03:  Key Finding 3

                                *Exhibit 04:  Key Finding 5

                                *Exhibit 05:  Key Finding 6

                                *Exhibit 06:  Key Finding 7

***2. Market Landscape                             

                **2.1 Market ecosystem             

                                *Exhibit 07:  Parent market

                                *Exhibit 08:  Market characteristics

                **2.2 Value chain analysis           

                                *Exhibit 09: Value chain analysis

                                *2.2.1 Inputs

                                *2.2.2 Inbound logistics

                                *2.2.3 Primary processing

                                *2.2.4 Secondary and tertiary processing

                                *2.2.5 Outbound logistics

                                *2.2.6 Marketing and sales

                                *2.2.7 Services

                                *2.2.8 Innovations

***3. Market Sizing                       

                **3.1 Market definition

                                *Exhibit 10:  Offerings of vendors included in the market definition

                **3.2 Market segment analysis 

                                *Exhibit 11:  Market segments

                **3.3 Market size 2021 

                **3.4 Market outlook: Forecast for 2021 - 2026 

                                *Exhibit 12:  Global - Market size and forecast 2021 - 2026 ($ million)

                                *Exhibit 13:  Global market: Year-over-year growth 2021 - 2026 (%)

***4. Five Forces Analysis                          

                **4.1 Five Forces Summary        

                                *Exhibit 14:  Five forces analysis 2021 & 2026

                **4.2 Bargaining power of buyers           

                                *Exhibit 15: Bargaining power of buyers

                **4.3 Bargaining power of suppliers       

                                *Exhibit 16: Bargaining power of suppliers

                **4.4 Threat of new entrants    

                                *Exhibit 17: Threat of new entrants

                **4.5 Threat of substitutes         

                                *Exhibit 18: Threat of substitutes

                **4.6 Threat of rivalry   

                                *Exhibit 19: Threat of rivalry

                **4.7 Market condition

                                *Exhibit 20:  Market condition - Five forces 2021

***5 Market Segmentation by Type                      

                **5.1 Market segments

                                *Exhibit 21:  Type - Market share 2021-2026 (%)

                **5.2 Comparison by Type          

                                *Exhibit 22:  Comparison by Type

                **5.3 Milk - Market size and forecast 2021-2026                

                                *Exhibit 23:  Milk - Market size and forecast 2021-2026 ($ million)

                                *Exhibit 24:  Milk - Year-over-year growth 2021-2026 (%)

                **5.4 Dark - Market size and forecast 2021-2026               

                                *Exhibit 25:  Dark - Market size and forecast 2021-2026 ($ million)

                                *Exhibit 26:  Dark - Year-over-year growth 2021-2026 (%)

                **5.5 White - Market size and forecast 2021-2026            

                                *Exhibit 27:  White - Market size and forecast 2021-2026 ($ million)

                                *Exhibit 28:  White - Year-over-year growth 2021-2026 (%)

                **5.6 Market opportunity by Type          

                                *Exhibit 29:  Market opportunity by Type

***6. Customer landscape                         

                **6.1 Overview

                                *Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria

                                *Exhibit 30: ?Customer landscape?

***7. Geographic Landscape                     

                **7.1 Geographic segmentation

                                *Exhibit 31:  Market share by geography 2021-2026 (%)

                **7.2 Geographic comparison   

                                *Exhibit 32: Geographic comparison

                **7.3 UAE - Market size and forecast 2021-2026

                                *Exhibit 33:  UAE - Market size and forecast 2021-2026 ($ million)

                                *Exhibit 34:  UAE - Year-over-year growth 2021-2026 (%)

                **7.4 Saudi Arabia - Market size and forecast 2021-2026                

                                *Exhibit 35:  Saudi Arabia - Market size and forecast 2021-2026 ($ million)

                                *Exhibit 36:  Saudi Arabia - Year-over-year growth 2021-2026 (%)

                **7.5 Israel - Market size and forecast 2021-2026              

                                *Exhibit 37:  Israel - Market size and forecast 2021-2026 ($ million)

                                *Exhibit 38:  Israel - Year-over-year growth 2021-2026 (%)

                **7.6 South Africa - Market size and forecast 2021-2026

                                *Exhibit 39:  South Africa - Market size and forecast 2021-2026 ($ million)

                                *Exhibit 40:  South Africa - Year-over-year growth 2021-2026 (%)

                **7.7 Rest of MEA - Market size and forecast 2021-2026

                                *Exhibit 41:  Rest of MEA - Market size and forecast 2021-2026 ($ million)

                                *Exhibit 42:  Rest of MEA - Year-over-year growth 2021-2026 (%)

                **7.8 Market opportunity by geography

                                *Exhibit 43:  Market opportunity by geography ($ million)

***8. Drivers, Challenges, and Trends                   

                **8.1 Market drivers     

                                *8.1.1 Rising awareness regarding health benefits offered by chocolate

                                *8.1.2 Rising demand in the food and beverage industry

                                *8.1.3 Growing demand for customized chocolate

             **8.2 Market challenges

                                *8.2.1 Price fluctuation of raw materials

                                *8.2.2 Shortage of vanilla

                                *8.2.3 Limited audience in MEA

                             *Exhibit 44:  Impact of drivers and challenges

                **8.3 Market trends      

                                *8.3.1 Impulse purchasing behavior of consumers

                                *8.3.2 Rising demand for premium chocolate

                                *8.3.3 Introduction of organic, vegan, and sugar and gluten-free chocolate

***9. Vendor Landscape                             

                **9.1 Competitive Scenario        

                **9.2 Overview

                                *Exhibit 45: Vendor landscape

                                *The potential for the disruption of the market landscape was moderate in 2020, and its threat is expected to remain unchanged by 2025. 

                **9.3 Landscape disruption        

                                *Exhibit 46: ?Landscape disruption?

                                *Exhibit 47: Industry risks

***10. Vendor Analysis               

                **10.1 Vendors covered              

                                *Exhibit 48: Vendors covered

                **10.2 Market positioning of vendors    

                                *Exhibit 49: ?Market positioning of vendors?

                **10.3 Arcor Group       

                                *Exhibit 50:  Arcor Group - Overview

                                *Exhibit 51:  Arcor Group - Business segments

                                *Exhibit 52:  Arcor Group - Key offerings

                                *Exhibit 53:  Arcor Group - Segment focus

                **10.4 Cacau Show        

                                *Exhibit 54:  Cacau Show - Overview

                                *Exhibit 55:  Cacau Show - Product and service

                                *Exhibit 56:  Cacau Show - Key offerings

                **10.5 Ezaki Glico Co. Ltd.           

                                *Exhibit 57:  Ezaki Glico Co. Ltd. - Overview

                                *Exhibit 58:  Ezaki Glico Co. Ltd. - Business segments

                                *Exhibit 59:  Ezaki Glico Co. Ltd. - Key offerings

                                *Exhibit 60:  Ezaki Glico Co. Ltd. - Segment focus

                **10.6 Ferrero International SA

                                *Exhibit 61:  Ferrero International SA - Overview

                                *Exhibit 62:  Ferrero International SA - Product and service

                                *Exhibit 63:  Ferrero International SA- Key news

                                *Exhibit 64:  Ferrero International SA - Key offerings

                **10.7 Kellogg Co.          

                                *Exhibit 65:  Kellogg Co. - Overview

                                *Exhibit 66:  Kellogg Co. - Business segments

                                *Exhibit 67:  Kellogg Co. - Key offerings

                                *Exhibit 68:  Kellogg Co. - Segment focus

                **10.8 La Maison du Chocolat   

                                *Exhibit 69:  La Maison du Chocolat - Overview

                                *Exhibit 70:  La Maison du Chocolat - Product and service

                                *Exhibit 71:  La Maison du Chocolat - Key offerings

                **10.9 Lindt and Sprungli (USA) Inc.       

                                *Exhibit 72:  Lindt and Sprungli (USA) Inc. - Overview

                                *Exhibit 73:  Lindt and Sprungli (USA) Inc. - Business segments

                                *Exhibit 74:  Lindt and Sprungli (USA) Inc. - Key offerings

                                *Exhibit 75:  Lindt and Sprungli (USA) Inc. - Segment focus

                *10.10 Mars Inc.

                                *Exhibit 76:  Mars Inc. - Overview

                                *Exhibit 77:  Mars Inc. - Product and service

                                *Exhibit 78:  Mars Inc. - Key offerings

                **10.11 Meiji Holdings Co. Ltd. 

                                *Exhibit 79:  Meiji Holdings Co. Ltd. - Overview

                                *Exhibit 80:  Meiji Holdings Co. Ltd. - Business segments

                                *Exhibit 81:  Meiji Holdings Co. Ltd. - Key offerings

                                *Exhibit 82:  Meiji Holdings Co. Ltd. - Segment focus

                **10.12 Theo Chocolate Inc.      

                                *Exhibit 83:  Theo Chocolate Inc. - Overview

                                *Exhibit 84:  Theo Chocolate Inc. - Product and service

                                *Exhibit 85:  Theo Chocolate Inc. - Key offerings

***11. Appendix                            

                **11.1 Scope of the report         

                                *11.1.1 ????Market definition

                                *11.1.2 ????Objectives

                                *Notes and caveats

                **11.2 Currency conversion rates for US$            

                                *Exhibit 86: ?Currency conversion rates for US$?

                **11.3 Research Methodology 

                                *Exhibit 87: ?Research Methodology

                                *Exhibit 88: ??Validation techniques employed for market sizing?

                                *Exhibit 89: ??Information sources

                **11.4 List of abbreviations        

                                *Exhibit 90: List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape

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Key Questions Answered

  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?

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