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Saudi Arabia Confectionery Market Research Report 2022-2027
27-Jul-2022 | Navi Mumbai | News-Press Release
Market Reports on Saudi Arabia Provides the Trending Market Research Report on "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" under Consumer Goods Market Research Reports category. The Confectionery Market Database in Saudi Arabia is projected to exhibit highest growth rate over report offers a collection of superior market research, market analysis, and competitive intelligence and industry reports.
Saudi Arabia confectionery market is projected to grow at a formidable rate during the forecast period, 2023-2027. The market growth can be attributed to the growing personal disposable income of consumers and the rising trend of gifting confectionery products during functions and events. Besides, expanding online sale channels and marketing techniques adopted by market players to attract consumers into buying confectionery products are some factors driving the market growth.
The millennial generation is the primary target audience of candy companies. Hence, market players are using current trends of market to their demographic, including vibrant packaging, candy that pops in the mouth, and customizable packaging to attract potential customers. Luxurious and expensive chocolates are becoming more popular among consumers. Customers expect specialized and distinct chocolates, such as "melt-in-your-mouth chocolate" and "quality for chocolate," driving market players to experiment and launch new flavors and product categories.
Additionally, with millennials becoming more health-conscious, the market for nutritious snacks is predicted to expand rapidly. Over the next five years, the Saudi Arabia confectionery market is anticipated to grow due to the high consumption of confectionary goods among millennials and the appealing marketing methods adopted by brands to foster brand loyalty among millennials.
The rising internet penetration rate and widespread use of smart devices are driving up customer demand for e-commerce platforms. Thus, market players are utilizing online marketplaces to give customers access to make purchases from the convenience of their homes. Due to the numerous flexible payment alternatives offered by online sales channels, including cash on delivery, card payment, net banking, and others, consumers are actively using them to make purchases. They can quickly receive the delivery at their doorstep. The market participants provide enticing offers and discounts on purchasing confectionery items under their brands to gain a competitive edge in the industry.
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 lead the Saudi Arabia confectionery market, owing to the higher acceptance of westernized foods and growing inclination towards chocolates.
Key players operating in the 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., among others.
Years considered for this report:
Historical Years: 2017-2020
Base Year: 2021
Estimated Year: 2022
Forecast Period: 2023-2027
Objective of the Study:
•To analyze the historical growth in the market size of the Saudi Arabia confectionery market from 2017 to 2021.
•To estimate and forecast the market size of Saudi Arabia confectionery market from 2023 to 2027 and growth rate until 2027.
•To classify and forecast the Saudi Arabia confectionery market based on product type, distribution channel, region, and company.
•To identify the dominant region or segment in the Saudi Arabia confectionery market.
•To identify drivers and challenges for the Saudi Arabia confectionery market.
•To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Saudi Arabia confectionery market.
•To identify and analyze the profiles of leading players operating in the Saudi Arabia confectionery market.
•To identify key sustainable strategies adopted by market players in Saudi Arabia confectionery market.
Key Target Audience:
•Market research and consulting firms
•Government bodies such as regulating authorities and policy makers
•Organizations, forums, and alliances
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as product manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, Saudi Arabia confectionery market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
•Saudi Arabia Confectionery Market, By Product Type:
•Saudi Arabia Confectionery Market, By Distribution Channel:
Independent Grocery Stores
Convenience Stores/Forecourt Retailers
•Saudi Arabia Confectionery Market, By Region:
Browse our full report with Table of Contents:
Market Reports on Saudi Arabia provides you with an in-depth industry reports focusing on various economic, political and operational risk environment, complemented by detailed sector analysis. We have an exhaustive coverage on variety of industries - ranging from energy and chemicals to transportation, communications, constructions and mining to Food and Beverage and education. Our collection includes over 3000 up-to-date reports all researched, analysed and published by top-notch international research firms.
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