Changing dietary habits and high demand for organic confectionery products are driving the demand of Saudi Arabia confectionery market in the forecast period, 2023-2027.
According to TechSci Research report, “Saudi Arabia Confectionery Market By Region, Competition Forecast & Opportunities, 2027”, the Saudi Arabia confectionery market is expected to grow at a steady rate in the forecast period, 2023-2027. Confectionery includes those food items consisting of carbohydrates and sugar. Cookies, gummies, chocolates, mint are some examples of confectionery items. Consumer eating habits are changing rapidly, which has led to the innovation and experiments in the confectionery food items by the market players to meet the changing needs. Adopting unhealthy eating habits and busy lifestyles gives rise to many lifestyle-related diseases and disorders among consumers. Obesity, diabetes, and cardiovascular disorders are serious diseases that can pose dire consequences on an individual's health. Consumers are shifting towards low-calorie and sugar-free food items to stay healthy and fit. The introduction of sugar-free chocolates is anticipated to influence the market demand to meet consumers' need for reduced sugar intake. The rise in consumers' awareness about the benefits of eating healthy is making the market players include nutritious and healthy items in the confectionery food items. The inclusion of tropical fruit, nut-based and exotic flavors, organic flavors, and functional ingredients to enhance the nutritional value of the confectionery food items are expected to fuel the demand for Saudi Arabia confectionery market.
Saudi Arabia imports confectionery products from various countries, namely Belgium, Russia, and Germany, as there is a high demand for exotic food items. Also, the market players are working on developing logistics and supply chains to meet the growing consumer requirements and meet the demand-supply gap.
However, the fluctuations in the prices of raw materials such as sugar and high packaging costs may restrain the Saudi Arabia confectionery market growth in the forecast period.
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The Saudi Arabia confectionery market is segmented into product type, distribution channel, regional distribution, and competitive landscape.
Based on product type, the market is divided into chocolate, sugar candy, and gum candy. The chocolate segment is expected to hold the largest market share in the forecast period. People buy confectionery products to satiate their taste buds. High acceptance of westernized food and the changing consumer daily food intake habits are creating lucrative growth opportunities for the market players to introduce new flavors into the market.
Based on distribution channel, the market is divided into supermarkets/hypermarket, independent grocery stores, convenience stores/forecourt retailers, departmental store, non-store retailing (online store). The supermarkets/hypermarkets segment is expected to account for significant market share in the forecast period due to the increased adoption of these markets in the Saudi region. People prefer to spend their leisure time in supermarkets/hypermarkets as they can get all the daily basic needs and other requirements in a single place. Also, these markets have space to display a large variety of confectionery products which makes the shopping experience pleasurable for consumers. Consumers can easily compare the products belonging to different brands based on their nutritional content, packaging, size, and chocolate type in supermarkets/hypermarkets and get hefty discounts.
Major market players operating in Saudi Arabia confectionery market are:
- Mars Saudi Arabia
- Ferrero Rocher (Abudawood)
- Mondelez International
- Nestle Saudi Arabia LLC
- Meiji Holdings Co., Ltd
- The Hershey Company
- Chocoladefabriken Lindt & Sprüngli AG
- Perfetti Van Melle Group
- General Mills, Inc.,
- Grupo Arcor S.A.
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“Adopting a sedentary lifestyle, a rise in the working population, and increasing modernization accelerate the demand for convenience products as a part of their daily diet. The busy lifestyle of consumers disallows them to dine out and spend time cooking during office hours, thereby fueling the demand for quick-to-eat confectionery food items such as chocolate bars and on-the-go snacks. Manufacturers are introducing healthy and small in-sized packaged confectionery food items to carry to office premises and are investing in innovations and experiments to find new flavors and types of confectionery food. The entry of local market players, the high disposable income of the consumers, and the massive demand for on-the-go snacks are expected to propel the Saudi Arabia confectionery market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Saudi Arabia Confectionery Market By Product Type (Chocolate, Sugar Candy, and Gum Candy), By Distribution Channel (Supermarkets/Hypermarket, Independent Grocery Stores, Convenience Stores/Forecourt Retailers, Departmental Store, Non-Store Retailing (Online Store)), By Distribution Channel (Direct Vs. Retail), By Region, Competition Forecast & Opportunities, 2027”, has evaluated the future growth potential of Saudi Arabia confectionery market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Saudi Arabia confectionery market.
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