The Size of Middle East and Africa Chocolate-Based Spreads Market is expected to be worth USD 0.16 billion in 2024 and is estimated to be growing at a CAGR of 3.88%, to reach USD 0.20 billion by 2029.
Chocolate spread is a sweet chocolate-flavoured paste that is eaten mostly spread on toasts and bread or similar grain products such as waffles, muffins, pancakes, and pitas. Although chocolate spreads taste, smell, and look like chocolate, they do not solidify, even at room temperature. The paste typically contains cocoa and palm or vegetable oil, and is also likely to contain sugar, milk and additional flavours. At times, it also includes nuts such as ground hazelnuts or honey. Chocolate spread is normally sold in plastic tubs or glass jars.
The key driving factors of the Middle East and Africa Chocolate Based Spreads market are shifting consumer taste preferences and growing spending on chocolate and other confectionery products. Growing urbanization, widespread availability of chocolate and growing awareness about the various health benefits which can be obtained from the consumption of chocolate and derived products will remain another key factor fuelling the market for chocolate-based spreads the Middle East and Africa. The chief constraint of the market is the uncertain economy of the cocoa supply which is likely to raise chocolate prices.
This Research Report on Middle East and Africa Chocolate Based Spreads Market is segmented, and sub segmented into following categories.
Middle East and Africa Chocolate Based Spreads Market By Type
based on type into milk chocolate, dark chocolate, and white chocolate. Milk chocolate is expected to have the largest share in the segment.
Middle East and Africa Chocolate Based Spreads Market By Frequency Of Sale
By frequency of sale, the market is categorized into premium chocolate, daily chocolate, and seasonal chocolate. Daily chocolate leads the market in this segment.
Middle East and Africa Chocolate Based Spreads Market By Distribution Channel
By distribution channel, the market is divided into supermarkets and hypermarkets, grocery stores, speciality stores and online retail.
Middle East and Africa Chocolate Based Spreads Market By Region
The market in this region can be geographically segmented into the Middle East and Africa regions. In this region, Brazil has the largest market share. Factors such as rising disposable incomes and changing consumer preferences are expected to propel market growth in the region.
KEY PLAYERS IN MIDDLE EAST AND AFRICA CHOCOLATE BASED SPREADS MARKET
Key Players in Middle East and Africa Chocolate Based Spreads Market are J.M. Smucker, Kraft Foods, Unilever Group, ConAgra Foods Inc, Ferrero Group, Hershey Co.,B & G Foods Inc, Nestle, Wellness Food, Premier Foods among others.
Frequently Asked Questions
Several factors contribute to the growth of the chocolate-based spreads market in the Middle East and Africa, including changing consumer lifestyles, urbanization, rising disposable incomes, and the increasing popularity of Western breakfast habits. Additionally, the region's young population demographic, with a growing number of children and teenagers, is driving demand for sweet and convenient breakfast options.
Several international brands such as Nutella (Ferrero), Cadbury (Mondelez International), and Kinder (Ferrero) are widely popular in the Middle East and Africa. Additionally, local and regional brands also have a significant presence, catering to specific taste preferences and price points of consumers in the region.
Yes, there are several emerging trends in the chocolate-based spreads market, including the introduction of premium and gourmet varieties targeting affluent consumers, the development of organic and natural product lines to appeal to health-conscious consumers, and the expansion of flavor options to cater to diverse taste preferences. Additionally, manufacturers are investing in packaging innovations, such as convenient single-serve portions and eco-friendly packaging solutions, to enhance consumer convenience and sustainability.
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