The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreNov 2018
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This report highlights the key growth drivers of chocolate confectionery in MEA. Despite recent economic problems the category is set to be boosted by governments investing in modernising infrastructure, and incentivising local production post import bans and high import costs. With factors such as inflation and VAT implementation, manufacturers seek to maintain volume sales through product diversification and in-store promotions to capitalise on the category’s high potential.
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Despite the Middle East and Africa being a smaller market in value terms for chocolate confectionery when compared to other regions, there is a lot of potential due to a growing population and manufacturer innovation through product diversification.
The economic crisis over the review period across various countries in the region, as well as the recent implementation of VAT, has led to consumers opting for more affordable products. Nevertheless, as chocolate confectionery is perceived as popular to some, growth has remained constant.
Wide product variety, affordability and the traditional culture of snacking across countries in the region are factors driving the need for product diversification.
Awareness of healthier snacking options has grown vastly in countries such as South Africa and the United Arab Emirates. This has driven consumers to shift from milk chocolate to dark chocolate due to the higher cocoa content of the latter. Consumers have also increased organic chocolate consumption while manufacturers focus more on health claims and ethical labelling such as ‘100%-certified sustainable cocoa’ and ‘reduced-sugar’ by underlining fewer calories.
With growing demand for convenience, with more women entering the workforce, as well as busier lifestyles, governments are boosting modern retailing infrastructure to meet such demands, with supermarkets taking greatest share. In addition, manufacturers securing prominent shelf space have maintained their value sales in modern retailers, enabling them to introduce promotions.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.