The chocolate market in the UAE is projected to grow at a CAGR of over 8% during 2016 - 2021
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.
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 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
Market Trends & Developments
- Private Label Chocolate Products
- Rising Demand for Sugar-free and Dark Chocolates
- New Product and Packaging Innovations
- Growing Demand for Premium Chocolates
- Emergence of Overseas Players
- Best Food Company L.L.C.
- Chocoladefabriken Lindt & Sprüngli (Schweiz) AG
- Ferrero Trading Dubai
- IFFCO Group
- Le Chocolat L.L.C
- Mars GCC
- Mondelez Middle East and Africa
- Nestlé Middle East FZE
- Notions Group
- Rocky Mountain Chocolate Factory
For more information about this report visit http://www.researchandmarkets.com/research/4n8k79/uae_chocolates
Related Topics: Chocolate and Cocoa Products
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/united-arab-emirates-chocolates-countline-molded-and-boxed-market-competition-forecast-and-opportunities-2021---research-and-markets-300319952.html
SOURCE Research and Markets