Middle East and Africa Chocolate Market Size to Touch Value of USD 12 Billion by 2030

Published | 28 November 2024

Middle East and Africa Chocolate Market is flourishing because of a rising demand for premium and high-quality chocolates and growing popularity of dark chocolate for its health benefits.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Middle East and Africa Chocolate Market size at USD 8.4 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects Middle East and Africa Chocolate Market size to expand at a CAGR of 5.5% reaching a value of USD 12 billion by 2030. Major growth factors for Middle East and Africa Chocolate Market include growing popularity of confectionary snack varieties and increasing understanding of the health advantages of moderate chocolate consumption. A significant contributing element to the region's strong demand for chocolate, especially in the Middle Eastern nations, is the thriving tourism industry, which makes chocolate a popular souvenir for visitors. As a result, businesses place a lot of emphasis on offering a wide range of high-quality chocolates in attractive packaging. It is projected to propel the expansion of Middle East and Africa Chocolate Market during the period in analysis.

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Opportunity - Growing Influence of Social Media

The growing influence of social media on purchasing decisions of consumers is emerging as one of the major drivers for Middle East and Africa Chocolate Market. For instance, FIX recently emerged as a global sensation with its Dessert Chocolatier through a TikTok video posted by a food influencer. The social media platforms, such as Instagram and TikTok, support consumer exposure to new chocolate products and brands that satisfy their demands to try new products. Therefore, chocolate companies invest heavily in social media campaigns and public relations. It, in turn, is expected to propel the growth of Middle East and Africa Chocolate Market growth over the forecast period.

Impact of Escalating Geopolitical Tensions on Middle East and Africa Chocolate Market

Intensifying geopolitical tensions pose significant challenges for the growth of Middle East and Africa Chocolate Market. The MEA region's chocolate production is dependent on imported cocoa, mostly from Ghana and Côte d'Ivoire in West Africa. Geopolitical issues, such civil disturbance, however, cause supply chain disruptions and can result in higher transportation costs, a shortage of raw materials, and higher expenses. Moreover, regional conflicts across the Middle East slow down the economy and may burden nations as a result of the refugee crisis. Consumer expenditure on non-essential items like chocolate frequently declines as a result of economic uncertainties. Luxury goods like premium chocolates may suffer a drop in demand in nations already dealing with high unemployment, inflation, and economic hardship.

Supermarkets & Hypermarkets Grow at Fastest CAGR

The supermarkets & hypermarkets segment accounts for the largest share of Middle East and Africa Chocolate Market by distribution channel. These offline retail channels provide real-time accessibility and a large selection of products from various brands. The online segment is expected to grow at the fastest rate over the forecast period due to factors like deepening smartphone penetration, internet accessibility, and the availability of various chocolate products through online grocery stores and platforms.

Egypt Leads Middle East and Africa Chocolate Market

Egypt dominates Middle East and Africa Chocolate Market. The high disposable income, expanding middle-class population, and rising demand for quality chocolate significantly affect the Chocolate Market growth in the country. Following Egypt, South Africa also holds a large market share. The high consumption of both mass and luxury chocolate goods, as well as the growth of contemporary retail channels like online platforms, are the main drivers of South Africa Chocolate Market.

Competitive Landscape

Major companies in Middle East and Africa Chocolate Market include Nestlé S.A., Mondelez International Inc., Tiger Brands Limited, Chocoladefabriken Lindt & Sprüngli AG, Mars Incorporated, Al Nassma Chocolate LLC, Cacao Sampaka, Mirzam Al Quoz, Kees Beyers Chocolate CC, and Barry Callebaut.

These companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches to further enhance their market share.

Don’t miss the business opportunity in Middle East and Africa Chocolate Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and Middle East and Africa Chocolate Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Middle East and Africa Chocolate Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Scope of the Report

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