NEW YORK, March 24, 2016 /PRNewswire/ -- Over the last few years, the demand for chocolates in the UAE has been growing on account of increasing young population, rising per capita income coupled with various new domestic and international chocolate companies foraying the market. Demand for dark chocolates has been growing as they are rich in antioxidants, and have the potential to prevent cardiac diseases as well as several other diseases. Furthermore, rising standard of living in the country has brought the social status of chocolate down from a luxury to an everyday commodity. Expanding distribution channels, growing number of point of sales, increasing trend of setting up exclusive stores and sales through online channels are few of the major factors anticipated to further boost demand for chocolates in the UAE over the next five years. However, fluctuating raw material prices, dependency on unstable markets for supply of cocoa, counterfeit products, and growing health concerns are the major challenges restricting the growth of the UAE chocolate market.
According to "UAE Chocolates Market By Type, By Age Group, By Point of Sale, Competition Forecast and Opportunities, 2011 – 2021", the chocolate market in the UAE is projected to grow at a CAGR of over 8% during 2016 – 2021. The country's chocolate market has been segmented into three categories, namely, countline, molded and boxed chocolates. Among these categories, the countline segment dominated the UAE chocolate market in 2015, and the segment is anticipated to maintain its dominance over the next five years as well. However, boxed chocolate segment is anticipated to grow at faster pace over the next five years, owing to growing demand for premium chocolates from high income consumers. Region-wise, Dubai was the largest chocolate market in the UAE in 2015, on account of high urbanization and increasing number of tourists. Few of the leading players operating in the UAE chocolate market include Mars GCC, Ferrero SpA, Nestlé Middle East, Mondelez Middle East and Africa FZE, and Lindt & Sprüngli, among others.
"UAE Chocolates Market By Type, By Age Group, By Point of Sale, Competition Forecast and Opportunities, 2011 – 2021" discusses the following aspects related to chocolate market in the UAE:
- UAE Chocolate Market Size, Share & Forecast
- Segmental Analysis – By Type (Countline, Molded & Boxed), By Age Group (5 to 14 years, 15 to 24 years, 25 to 54 years, and 55 years & above), By Point of Sale (Hypermarket/ Supermarket, Convenience Stores, Chocolate Boutiques, Online Retail & Others)
- Policy & Regulatory Landscape
- Changing Market Trends & Emerging Opportunities
- Competitive Landscape & Strategic Recommendations
Why You Should Buy This Report?
- To gain an in-depth understanding of the UAE chocolate market
- To identify the on-going trends, and anticipated growth over the next five years
- To help industry consultants, chocolate manufacturers, distributors and dealers align their market-centric strategies
- To obtain research-based business decisions and add weight to presentations and marketing material
- To gain competitive knowledge of leading market players
- To avail 10% customization in the report without any extra charges and get research data or trends added in the report as per the buyer's specific needs
The information contained in this report is based upon both primary and secondary sources. Primary research included interviews with the UAE chocolate companies and industry experts. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and other proprietary databases.
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