Market Trends of Middle-East and Africa Compound Chocolate Industry
This section covers the major market trends shaping the MEA Compound Chocolate Market according to our research experts:
High Preference of Chocolate-based Products Accelerates the Growth
Chocolate-infused snack products such as granola bars, and chocolate chip cookies, among others. These products have been enticing the millennials of the region, owing to which the demand for compound chocolate is high. Furthermore, the demand for compound chocolate has been growing as it consists of hard fat which makes it suitable for baking products at higher temperatures. The growth of the market can also be attributed to the rising consumption of frozen desserts and growing consumer expenditure on frozen desserts such as ice cream and on chocolate-based beverages, such as chocolate milkshakes, among others. The trend of veganism and plant-based food and beverage products has boosted the sales of plant-based milk compound chocolate. The survey conducted by the well-known confectionary producer Barry Callebaut depicts that in 2022, 45% of people prefer having plant-based milk chocolates owing to their dairy-free features in addition to their smooth texture and taste.
United Arab Emirates is the Largest Market
The surging demand for chocolate-filled assorted sweets and increased consumption of count-line chocolates among the consumers in the country have helped drive the growth of the market over the review period. The increased awareness of fitness and a large number of fitness centers in the nation promoting the consumption of protein milkshakes, and chocolate-flavored protein bars, have helped drive the demand for these products among gym professionals and other fitness experts. Such factors have helped augment the growth of the compound chocolate market over the recent past. Additionally, the tradition of gifting sweets and chocolates on occasions such as Ramadan, Eid, and other festivities has helped drive the sales of chocolate and related products over the past few years, a factor which has thereby helped drive the growth of the market in the region over the past few years.
