SAUDI ARABIA CHOCOLATE MARKET

INTRODUCTION

Chocolate is a versatile ingredient used in various culinary applications, including confectionery, desserts, beverages, and savory dishes. It is often enjoyed in the form of bars, truffles, hot cocoa, and as a coating for fruits and nuts. Chocolate is a popular confection and a popular gift, particularly on holidays and special occasions.

International chocolate brands are preferred by many Saudi Arabian consumers, despite the existence of local chocolate brands. Popular international brands are frequently sought after due to their alleged superiority and diversity.

The chocolate industry in Saudi Arabia sells a wide variety of chocolates, such as filled chocolates, premium chocolates, pralines, and different kinds of chocolate bars. Specialty and artisanal chocolates are gaining popularity.

Chocolates can be purchased online, at duty-free shops, specialty chocolate stores and supermarkets. There is a growing consciousness of health and wellness, just like in many international markets.  Due to this, there is now a greater demand for dark chocolate and chocolates that have extra health benefits, like those made with natural ingredients or less sugar.

SAUDI ARABIA CHOCOLATE MARKET SIZE AND FORECAST

The Saudi Arabia chocolate market accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.

SAUDI ARABIA CHOCOLATE MARKET DYNAMICS

The Saudi Arabia chocolate market is driven by the growing middle-class consumer's disposable income and interest in premium chocolates, as well as the manufacturers' expansion of their distribution networks in an attempt to reach a wider audience and gain market share. 

With a wealthier population and a health-conscious shift, the market is ripe for premium and unique chocolates, especially online. Yet, sugar worries and import rules can melt the excitement.

To further support the nation's growing demand for premium chocolates, the majority of manufacturers also provide distinctive packaging options and personalization into various sizes and shapes based on the convenience of the consumer. 

Because of the variety of options and packaging styles available, premium chocolates are becoming an increasingly popular choice for gifting. Compared to other chocolates on the Saudi Arabia Chocolate market, artisan chocolates have a lower carbon footprint because they are made with natural ingredients.Furthermore, the majority of Saudi Arabian businesses have a well-organised distribution network in response to this rising demand. 

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SAUDI ARABIA CHOCOLATE MARKET RECENT DEVELOPMENT

The plant-based chocolate brandCallebaut NXTwas introduced in Saudi Arabia Chocolate Market by Callebaut. Chefs and craftspeople are the target market for NXT, a dark and "milk" chocolate brand made entirely of plant ingredients. 

Interest in plant-based chocolate is growing quickly, especially among younger consumers. Demand for plant-based foods, especially desserts, is growing throughout the Middle East due to their significant cultural significance.

Belgian gourmet chocolate has been reimagined by Callebaut's NXT to create globally accessible vegan, plant-based, allergen-free, and environmentally friendly desserts and chocolates.

NXT plant-based chocolates, according to Callebaut, have the same excellent flavour, mouthfeel, creamy texture, and quality as regular chocolate.Nestléhas announced plans for a significant investment of seven billion Saudi Riyals in the Kingdom of Saudi Arabia over the next decade.

This strategic initiative aims to strengthen and expand the company's well-established presence in the country. The initial phase involves allocating up to SAR 375 million to establish an advanced manufacturing facility, scheduled to commence operations in 2025. 

This facility will focus on the production of Nestlé infant nutrition products and mark the introduction of the first regionally-manufactured ready-to-drink coffee. The plant's output will not only cater to the local Saudi Arabia Chocolate market's demands but also contribute to exports to countries across the Middle East and North Africa.

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SAUDI ARABIA CHOCOLATE MARKET RECENT TRENDS

• Functional Chocolates:Chocolates with added functional benefits, such as those promoting relaxation, energy, or enhanced focus, are gaining popularity. This aligns with the broader trend of seeking food products that offer specific health or wellness benefits.
• Seasonal and Limited Editions:Brands are leveraging festive occasions and special seasons to introduce unique and themed chocolate offerings, driving sales through exclusivity.
• Healthier Alternatives:  Health-conscious consumers are driving this shift toward more nutritious options. There is a growing demand for healthier chocolate alternatives, such as sugar-free, dark chocolate, and those with added functional ingredients like nuts and seeds.
• Premium and Artisanal Chocolates:Consumers are showing an increased interest in unique, high-quality chocolates, often crafted with distinctive flavors and ethically sourced ingredients.
• Innovative Flavors and Combinations:From exotic spices to local flavors, diversifying the chocolate experience is becoming a key strategy for brands in the Saudi Arabia Chocolate market.
• Personalized and Customized Offerings:Customization is becoming a trend, with chocolate brands offering personalized options. Whether through customizable packaging, unique flavor combinations, or personalized messages, brands are aiming to create a more intimate connection with consumers.

SAUDI ARABIA CHOCOLATE MARKET RECENT ACQUISITION

The purchase of Hala Bostani Trading Co., a chocolate manufacturer and seller, by Derayah Third Investment Co. and Derayah First Investment Co. has been approved by the General Authority for Competition. According to a statement from the company, Derayah First Investment Co. and Derayah Third Investment Co. would buy 24% and 6% of the company's total shares, respectively.  

Chipita Global S.A., a leader in the high-growth croissant and baked snack market in Central and Eastern Europe, was bought by Mondelēz International, Inc. The acquisition represents a significant turning point in the company's strategy plan, which is centred on growing its presence in important regions while speeding up growth in core snacking adjacencies.

SAUDI ARABIA CHOCOLATE MARKET COMPETITIVE LANDSCAPE

Aani & Dani, one of the most well-known chocolate shops in Riyadh, is a luxury chocolate brand that is owned and manufactured in Saudi Arabia. To create opulent confections that delighted the senses, hundreds of flavours, hues, and textures were painstakingly combined.A delicious assortment of chocolates, comprising German, Swiss, and Belgian varieties, left everyone in awe upon tasting them.

Bostani Chocolate was first created in Saudi Arabia. The Company specialises in making Premium chocolate for any occasion. The total daily production capacity is up to 3000 kilos/4000 kilos of chocolate per shift, which can be increased upon request.

Patchi is a premium chocolate brand that originated in Lebanon and has expanded its presence in the Middle East, including Saudi Arabia. Known for its luxury chocolates and elegant packaging, Patchi has a strong market presence in the region.

Artisan du Chocolat, a renowned brand, is celebrated for its exquisite handcrafted chocolates. They offer a diverse range of innovative flavors and unique combinations, attracting chocolate enthusiasts seeking a premium and artisanal experience. 

SAUDI ARABIA CHOCOLATE MARKET REPORT WILL ANSWER FOLLOWING QUESTIONS

• How many chocolates are manufactured per annum in Saudi arabia? Who are the sub-component suppliers in different regions?
• Cost breakup of a Saudi arabia chocolate and key vendor selection criteria
• Where is the chocolate manufactured? What is the average margin per unit?
• Market share of Saudi arabia chocolate market manufacturers and their upcoming products
• Cost advantage for OEMs who manufacture Saudi arabia chocolate in-house
• key predictions for next 5 years in Saudi arabia chocolate market
• Average B-2-B chocolate market price in all segments
• Latest trends in chocolate market, by every market segment
• The market size (both volume and value) of the Saudi Arabia chocolate market in 2024-2030 and every year in between?
• Production breakup of chocolate market, by suppliers and their OEM relationship