Report on confectionery market in the KSA

THE Saudi Arabian confectionery market grew at a CAGR of 4.2% during 2011-2016. Sweets remain a major product in the country which has a large young population that indulges in confectionery frequently according to the report Top Growth Opportunities: Confectionery in Saudi Arabia. Coupled with high disposable incomes and rising consumer confidence, time-poor working consumers in the country seek out indulgent confectionery products to relax after a hectic day. Consequently, growth in this market will accelerate to a CAGR of 4.8% during 2016-2021, and is expected to be worth US$1,639.6 Million by 2021.

In the Saudi Arabian confectionery market, chocolate is the most valuable category. It grew at a CAGR of 3.8% in the last five years and is forecasted to record a faster growth at a CAGR of 4.4% during 2016-2021. Sugar confectionery being the second-largest category; recorded growth at a CAGR of 4.8% during 2011-2016, and is expected to register faster growth at a CAGR of 5.3% during 2016-2021. Gum is the smallest valued category, but has recorded the fastest growth at a CAGR of 5.3% and is expected to continue being the fastest-growing category with a CAGR of 5.9% in the next five years.

Saudi Arabia has the eighth highest per capita consumption rates among the top 10 confectionery growth opportunity markets, above China and Malaysia. The per capita expenditure on confectionery products in US dollar terms grew by 1.9% CAGR in the last five years, and is expected to grow at a higher CAGR of 3.2% during 2016-2021.

Hypermarkets & supermarkets was the largest distribution channel in the Saudi Arabian confectionery market in 2016. However, the channel recorded the slowest value growth among the leading retail formats with a marginal increase in value share growth, indicating a decreasing popularity of the channel in the market.

To know more, read Top Growth Opportunities: Confectionery in Saudi Arabia which provides recommended actions and detailed analysis on how to target the best growth opportunities for confectionery producers and retailers. Readers can understand what categories, channels, companies, and consumers will drive the success of Confectionery markets in Saudi Arabia.