Market Trends of Middle East and Africa Chocolate Industry
Countlines and Premium Dark Chocolates Hold a Major Market Share
Countline chocolates are most popular among teenagers and consumers under 25 years of age, owing to their convenience factors as they are designed to be eaten as a snack and on the go. The rise in consumption of countline chocolates in the United Arab Emirate region has stimulated market growth, as the United Arab Emirates is emerging as one of the most potential markets for chocolates, due to the increase in the number of international chocolate companies, along with the domestic players, coupled with changing snacking preferences of customers. It also includes products sold in diverse formats, such as 'multipacks' or 'mini-fun' sizes. The convenient sustainable packaging with attractive offers also drives the chocolate market during the forecast period.
Dark chocolate has strong antioxidants found in them. One of the best flavonols is called epicatechin. Plants have compounds called flavonols that lessen inflammation and protect against cell damage brought on by free radicals. Higher cocoa content chocolate contains more beneficial flavonols. Most of the benefits noted by numerous research are related to chocolate with at least 70% cacao. Also, For instance, a study that appeared in the journal Appetite found that people who consumed chocolate, particularly dark chocolate, at least once a week had a lower prevalence of diabetes and were less likely to get the disease four to five years later. People who consumed dark chocolate less than once per week had a two times higher chance of developing diabetes than those who consumed it more frequently, according to the research of 908 non-diabetic adults and 45 people with diabetes. Due to these benefits, consumers are gravitating toward products that claim to be made with dark chocolate. Therefore, these factors drive the market in this region.
South Africa is the Fastest-Growing Country
South Africa is registering fast growth, contributing to the overall sales of the chocolate market in the Middle East and Africa. For instance, in 2021, according to IFIC (International Food Information Council), the annual cocoa production in Africa accounted for approximately 4,400 million metric tons. The majority of the sales growth in the chocolate market in South Africa is attributed to the mass merchandisers, such as hypermarkets and supermarkets. The rising consumer awareness and increasing disposable incomes among middle-income consumers, product innovation, as well as channel development by manufacturers to reach a wider consumer base are some of the major factors that are expected to boost the sales of the chocolate market in South Africa, during the forecast period. Hence, due to rising consumer spending power and escalating marketing and promotional efforts, there has been an increase in demand for premium chocolates. Also, because of the growing tendency of giving gifts, boxed assortment sales are increasing more quickly. Moreover, premium ranges are combined with other ingredients, such as almonds, raspberry chunks, or alcohol, and their packaging describes a more sophisticated feel. The supermarkets/hypermarkets offer discounts on heavy-priced premium chocolate products, which is expected to boost sales even further. Therefore, all the above mentioned factors drive the Middle East & Africa Chocolate Market.
