Jsb Market Research: Uae Chocolate Market Forecast and Opportunities, 2019

UAE Chocolate Market Forecast and Opportunities, 2019

On 2 Sep July 2014

Summary –

The United Arab Emirates (UAE), being largely unorganized and fragmented chocolate market, is offering immense opportunities for growth to domestic as well as international chocolate players. The country has been witnessing significant increase in demand for chocolates, especially during festive seasons. Consumers in the UAE prefer gifting premium boxed chocolates available in varied shapes and sizes in attractive packaging over traditional sweets. Due to busier life schedule and intake of high-fat content food, the country is also witnessing significant increase in the number of diabetic and obese patients. Such consumers are demanding for sugar-free chocolates that are manufactured using lowfat, organic ingredients. Considering the growing domestic demand for chocolates and limited manufacturing base, the UAE imports a large volume of chocolates from countries like the US, the UK, France, Germany, Canada, etc. To address the rising chocolate demand in the country, leading chocolate companies are offering their products through various points of sale like hypermarkets, supermarkets, and convenience stores. Many domestic players are also establishing exclusive chocolate boutiques to offer customized chocolate assortments mainly to elite and upper middle class consumers in country.

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According to “UAE Chocolate Market Forecast & Opportunities, 2019”, the chocolate market in the UAE is projected to grow at a CAGR of around 6.09% during 2014-19 in value terms. The chocolate market in the UAE has been categorized into countlines, molded bars, and boxed chocolates, with countline segment expected to continue its market dominance through 2019. Boxed chocolate assortment segment is expected to increase at a faster pace as consumers, especially the elite class, prefer these...