How Big is The GCC Dark Chocolate Market?
IMARC Group, a leading market research company, has recently releases report titled “GCC Dark Chocolate Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The GCC dark chocolate market size reached US$ 718.4 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,112 Million by 2028, exhibiting a growth rate (CAGR) of 7.80% during 2023-2028.
What is Dark Chocolate?
Chocolate refers to a food product that is made from roasted cocoa beans and consumed as candy. Dark chocolate is a slightly bitter variant of chocolate with a deep brown color and without added milk. It is utilized to make beverages and to flavor or coat various confections and bakery items, such as cakes, biscuits, brownies, shakes, muffins, etc. Dark chocolate comprises of small amounts of stimulating alkaloids, theobromine, caffeine, etc., which are rich in carbohydrates and are an excellent source of quick energy. The regular consumption of premium dark chocolate in moderate quantities assists in improving blood circulation in the body, augmenting brain function, minimizing blood pressure, reducing the risks of heart diseases, etc.
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What are the growth prospects and trends in the GCC Dark Chocolate industry?
The expanding food and beverage (F&B) industry across countries is among the primary factors driving the GCC dark chocolate market. In addition to this, the widespread availability of chocolates in numerous forms, such as chocolate syrup, white chocolate, sprinkles, etc., is also catalyzing the market growth. Furthermore, the growing popularity of molded chocolates in innovative shapes and sizes is acting as another significant growth-inducing factor. Besides this, the shifting consumer preferences towards newer dark chocolate variants infused with additional flavors are also positively influencing the GCC market. Moreover, the increasing awareness towards the several health benefits associated with dark chocolate items is further bolstering the market growth. Apart from this, the premiumization of chocolate-based products and the elevating adoption of innovative packaging solutions by manufacturers are anticipated to fuel the GCC dark chocolate market over the forecasted period.
What is included in market segmentation?
The report has segmented the market into the following categories:
Distribution Channel Insights:
- Supermarkets and hypermarkets
- Convenience stores
- Non-grocery retailers
- Others
Market Breakup by Region:
- Saudi Arabia
- United Arab Emirates
- Qatar
- Kuwait
- Oman
- Bahrain
Who are the key players operating in the industry?
- Al-Seedawi Sweets Factories Co
- Bateel International LLC
- Chocoladefabriken Lindt & Sprüngli AG
- Food Services Company
- La Chocolaterie Galler
- Ferrero Group
- Mars Inc.
- Mondelez International Inc.
- Nestle Middle East
- Patchi SAL
- The Hershey Company
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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