Latest News- Chocolate Market in Middle East and Africa: Milk is expected to lead the Type segment during 2024-2028
The Chocolate Market in Middle East and Africa is being driven by Rising awareness regarding health benefits offered by chocolate
The Chocolate Market in Middle East and Africa is expected to grow at a CAGR of 7.3% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 3935 million. The chocolate market in the Middle East and Africa experiences significant growth due to the allure of impulse buying. Impulse purchases, characterized as unplanned and spontaneous decisions to acquire goods or services, are particularly prevalent in the confectionery sector. While consumers may not initially intend to buy chocolate during their grocery shopping, strategically placed displays at retail outlets can pique their interest and result in an impulse purchase. Furthermore, the rising disposable incomes and evolving lifestyles of consumers in these regions contribute to this trend. Chocolate, marketed as a reward or symbol of happiness, appeals to both children and adults, making it a popular choice for impulse buys.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Type (Milk, Dark, White) Geography (Middle East and Africa).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Chocolate Market in Middle East and Africa Research Report
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The Middle East and African chocolate market encompasses various types of chocolate, including high-quality, vegan, organic, and gluten-free options. Premium chocolates, specialty chocolate, and single-origin cocoa beans offer health benefits, such as antioxidants that combat oxidative stress, preventing heart disease and cholesterol build-up. Industrial production contrasts with artisan bean-to-bar methods using harvested, fermented Theobroma cacao seeds, roasted to create edible items like dark chocolate, catering to diverse dietary needs and mental health in preventive healthcare.
The chocolate market in the Middle East and Africa presents significant opportunities for high-quality, specialty chocolate manufacturers. This segment caters to consumers seeking healthier options, such as vegan, organic, gluten-free, sugar-free, and single-origin chocolates. The bean-to-bar concept, which involves producing chocolate directly from cocoa beans, is gaining popularity due to its premium appeal. Mental health benefits associated with dark chocolate consumption further bolsters market growth. Technavio projects the Middle East and African chocolate market to grow steadily, driven by increasing disposable income, urbanization, and changing consumer preferences.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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