GCC premium chocolate market is expected
to grow at an impressive CAGR during the forecast period on account of increasing
consumption of chocolates among youth and emergence of various varieties of
chocolates to cater to wider audiences with the launch of sugar free,
cholesterol free and low-fat chocolates. Online offerings and increasing number
of product distribution channels are anticipated to positively influence the
growth of the GCC premium chocolate market over the coming years. However, fluctuating
prices of raw materials such as cocoa, sugar, etc. can hamper the growth of the
market.
GCC premium chocolate market can
be segmented based on product type, distribution channel and country. In terms
of product type, dark chocolate is one of the most preferred flavors among
young population. Dark chocolates possess high quantity of cocoa and are also
claimed to help in the prevention of cardiac diseases, which is expected to
give a boost to the market growth during forecast period. Based on distribution
channel, share of online segment is expected to increase over the coming years
as online channels offer discounts and there are numerous options to choose
from.
Major companies operating in the GCC
premium chocolate market recorded high sale volumes in the 2018 financial year
and the trend is likely to continue in the forecast period. Key players
operating in the GCC premium chocolate market include Mondelez International
MEA, Nestle Middle East FZE, Ferrero Gulf HQ, Godiva Chocolatier, Barry
Callebaut, Hotel Chocolat, The Hershey Company, Patchi HO UAE,
Chocoladefabriken Lindt & Sprüngli and others. The companies are engaging
in partnership to increase their reach in the region. For instance, Mondelez
entered into a joint venture with Olayan and Khalifa Group in order to increase
distribution in Saudi Arabia.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020–2024
Objective of the
Study:
- To analyze and forecast the market size of GCC
premium chocolate market, in terms of value and volume.
- To classify and forecast GCC premium chocolate
market based on product type, distribution channel and regional
distribution.
- To identify drivers and challenges for GCC premium
chocolate market.
- To examine competitive developments such as
expansions, new product launches, mergers & acquisitions, etc., in GCC
premium chocolate market.
- To conduct the pricing analysis for GCC premium
chocolate market.
- To identify and analyze the profile of leading players involved in
the GCC premium chocolate market.
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TechSci Research performed
both primary as well as exhaustive secondary research for this study.
Initially, TechSci Research sourced a list of manufacturers across the region.
Subsequently, TechSci Research conducted primary research surveys with the
identified companies. While interviewing, the respondents were also enquired
about their competitors. Through this technique, TechSci Research could include
the manufacturers which could not be identified due to the limitations of
secondary research. TechSci Research analyzed the product offerings,
distribution channels and presence of all major manufacturers across the region.
TechSci Research calculated the market size of GCC premium
chocolate market using a bottom-up approach, where data for various end-user segments
was recorded and forecast for the future years. TechSci Research sourced these
values from the industry experts and company representatives and externally
validated through analyzing historical data of these product types and
applications for getting an appropriate, overall market size. Various secondary
sources such as company websites, news articles, press releases, company annual
reports, investor presentations and financial reports were also studied by
TechSci Research.
Key Target
Audience:
- Premium chocolate manufacturers,
suppliers, distributors and other stakeholders
- Government bodies such as
regulating authorities and policy makers
- Organizations, forums and
alliances related to premium chocolate market
- Market research and
consulting firms
The
study is useful in providing answers to several critical questions that are
important for the industry stakeholders such as manufacturers, suppliers, and partners, end users, etc., besides
allowing them in strategizing investments and capitalizing on market
opportunities.
Report Scope:
In this report, GCC premium
chocolate market has been segmented into following categories, in addition
to the industry trends which have also been detailed below:
- Market, By Product
Type:
- White Chocolate
- Milk Chocolate
- Dark Chocolate
- Market, By Distribution
Channel:
o
Supermarket/Hypermarket
o
Convenience
Store
o
Online
Store
o Others
- Market, By Country:
- Saudi Arabia
- UAE
- Kuwait
- Qatar
- Bahrain
- Oman
Competitive Landscape
Company Profiles: Detailed analysis of the major
companies present in GCC premium chocolate market.
Available
Customizations:
With the given market data, TechSci
Research offers customizations according a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and
profiling of additional market players (up to five).
It is an upcoming report to
be released soon. If you wish an early delivery of this report or want to
confirm the date of release, please contact us at [email protected]