Japan Male Grooming Market

Japan Male Grooming Market

Saudi Arabia confectionery market is anticipated to register a steady CAGR during the forecast period, 2023-2027. The high per capita income of consumers and the trend of gifting confectionery products such as bakery items and chocolates are the primary factors driving Saudi Arabia confectionery market. Also, the growing popularity of online sales channels and the adoption of engaging marketing techniques by the market players to attract customers into buying confectionery products are the other factors boosting the demand for Saudi Arabia confectionery market over the forecast period.

High Demand Among Millennials Drives the Market Growth

Millennials are the highest consumers of confectionery products. The brand targets the audience by adopting trends such as offering consumers hot and spicy products, colorful packaging, popping candy, and personalized packaging options. Consumers are shifting towards buying luxurious and premium chocolates. Consumers demand customized and specific chocolates such as ‘quality for chocolate; ‘melt in the mouth chocolate’, making the market platers experiment and introduce new flavors and product types.

Also, with growing health-consciousness among the millennials, the demand for healthy snacking is expected to grow at a rapid rate. The market players are introducing confectionery products in small packaging to let the millennials eat in small portions and save the rest of the products to eat later. The high consumption of confectionery products among the millennials and the adoption of attractive marketing strategies by the consumers to induce brand loyalty in the millennials is expected to boost Saudi Arabia confectionery market growth over the next five years.

Growing Adoption of Online Sales Channel Boosts the Market Demand

The proliferation of smart devices and the high internet penetration is fueling the demand for e-commerce platform among consumers. Market players are using these online portals to give access to consumers to buy from the convenience and comfort of their homes. Consumers are actively buying through the use of online sales channels as it provides them with flexible payment options like cash on delivery, card payment, net banking, and others. They can have doorstep delivery in a short time period. The market players offer lucrative offers and discounts on purchasing confectionery products of their brands to gain a competitive edge in the market. The strong competition among the market players and the rapid shift of market players towards online sales channels are expected to bolster the market demand over the next five years.

Prevalent Gifting Culture Supports the Market Growth

The high expenditure capacity of the consumers and the rapid urbanization enable them to afford a quality lifestyle. The per capita income is around USD 20110.32 thousands as of March 2020 in Saudi Arabia. Gifting is a common and personal practice adopted by the majority of the population of Saudi Arabia, and Saudis bring a small gift as a token of thanks if invited to another home. Consumers prefer to gift premium chocolates as an alternative to dry fruits and traditional sweets, making the market players offer chocolates and other products in colorful packaging. The consumers' high demand for gift sets is driving the market players to introduce confectionery products in gift sets, which is expected to propel the Saudi Arabia confectionery market over the forecast period.

Market Segmentation

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. 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). To analyze the market based on the region, the Saudi Arabia confectionery market is studied in major regions namely western, central, southern, eastern and northern.

Market Players

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., are the major market players operating in the Saudi Arabia confectionery market.

Report Scope:

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:
• Chocolate
• Sugar Candy
• Gum Candy
• Saudi Arabia Confectionery Market, By Distribution Channel:
• Supermarkets/Hypermarket
• Independent Grocery Stores
• Convenience Stores/Forecourt Retailers
• Departmental Store
• Non-Store Retailing

Online Store

• Saudi Arabia Confectionery Market, By Region:
• Western
• Central
• Southern
• Eastern
• Northern

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Saudi Arabia confectionery market.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

Please Note: Report will be updated with the latest data and delivered to you within 3-5 working days of order. Single User license will be delivered in PDF format without printing rights