GCC Chocolate Market

GCC Chocolate Market Overview

Chocolate is the preparation of roasted and ground cacao seeds, which are made in the form of a liquid, paste, or in block structures. They are used in various desserts such as pudding, cakes, candy, ice cream, and various other products.

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Major GCC Chocolate Market Drivers

One of the biggest factors that is contributing to the growth of the GCC Chocolate market size includes the increasing awareness related to dark chocolates as it is considered a healthier confectionery product. Dark chocolate is a powerful source of antioxidants, helps in enhancing blood flow and reduced blood pressure. In addition to this, the growing preference for chocolates, especially among millennials and youngsters, is further surging the demand for chocolates. There has been an increase in the popularity of confectionery snacks and are relatively priced high as the chocolates are becoming a premium snack option as compared to other snack options.

Moreover, the increasing consumption of count line chocolates, particularly in the UAE has further surged the market growth. The UAE is among the emerging economies in terms of potential markets for chocolate. The GCC countries are witnessing an increase in sugar confectionery over the past few years. Numerous international companies are setting up their factories in these countries in order to capture the growing demand for standard and luxury chocolate, which is increasingly used for personal as well as for luxury gifting collections. The leading players are emphasizing on producing new chocolate flavors to meet the growing demand of the customers. In 2019, Nestle SA introduced a limited edition of green team matcha KitKat in the selected GCC country including Kuwait, Saudi Arabia, and the UAE. This product is a combination of white chocolates and has sweet and fragrant flavors without any additional color, flavor, or preservatives. This product is not only used to cater to the consumer’s demand but is also creating a new trend in the market.

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The increasing popularity of cocoa & chocolate confectioneries is further supporting the market growth over the coming years. The filled chocolate covers a large share of the cocoa and chocolate market due to the emerging trend of preimmunized chocolates. Moreover, chocolates are increasingly used in the food & beverage sector, which is further responsible for the market growth. Chocolate is one of the most preferred flavour in beverages, bakery, and confectionery items. Thus, the growing implementation of chocolate in various food products and beverages is surging the growth of the chocolate market in the GCC  region.

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The emerging trend of gift-giving is customary in the GCC counties and is increasingly used in business dealings, festivals, and family gatherings. Various occasions have incorporated chocolate as a part of their festivities, such as Eid, weddings, birthdays, the holy month of Ramadan, social gatherings, among other functions. Thus, the growing demand for box assortment chocolates is a major factor that is surging the growth of the GCC chocolate market share. Various players in the GCC countries are launching various chocolate gift box options for their target audiences. In 2019, Forrey & Gulland launched the premium range of Ramadan gift boxes, which were specially designed keeping in mind the Sheikh Zayed Grand Mosque in Abu Dhabi.

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