Here's what’s trending in the confectionery industry:
- Over the past 5 years running, confectionery production in Middle East and Africa has outperformed all other regions.
- The MENA region is one of the fastest growing confectionery markets in the world, currently valued at US$ 9 billion*. In 2016, the industry generated an approximate 20% increase in turnover.
- Bolstered by high demand markets such as Saudi Arabia, UAE, Egypt and South Africa, confectionery sales trends are showing no signs of slowing down.
- Saudi Arabia and UAE demand for confectionery propagates from a largely foreign workforce and a large millennial population while strong macroeconomic performance has boosted sales in South Africa.
- Chocolate confectionery and gum products are more popular in wealthier markets such as Saudi Arabia, South Africa, Egypt and UAE, with sales higher than those of sugar confectionery.
- Sugar confectionery continues to be more popular in markets such as Iran and Nigeria, because of mass distribution ease and longer shelf life.
- Demand patterns and consumer behaviour are causing a favourable growth trend for the manufacture of organic, sugar-free chocolate.
*Innova Market Insights