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The Middle East & Africa Sugar Confectionery Market to grow at anticipated CAGR of 6.72%: Actual Market Research
Oct, 09
2021

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The Middle East & Africa Sugar Confectionery Market to grow at anticipated CAGR of 6.72%: Actual Market Research

 

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Being one of the most sophisticated regions, the Middle East region has remained a bit back in the sugar confectionery market. Coupled with this, the Africa region is quite price-sensitive when and thus couldn’t push itself easily in the market. The combination of this resulted in a market value of USD 1.64 Billion in 2015. The recent publication of Actual Market Research, titled 'Middle East & Africa Sugar Confectionery Market Outlook, 2026' is an in-depth study of the regional market along with the dynamics that is to shape the market. The region poses as one of the high potential markets for the coming period, given its location and the high spending capacity of the people. With many international brands planning to expand their product portfolio here, which is likely to allow the market growth at 6.57% in the coming period.

Historically, the market is dominated by the chewy confectionery segment, which is 2020, along with the hard-boiled sweet segment contributed to more than 50% of the market. The leading marketers in the region are highly focused on differentiating themselves from the local manufacturers. Much like the global trend, the sugar-free confectionery segment is likely to be the fastest-growing segment, with an anticipated CAGR of 9.81%. The region is heading towards the adoption of clean labels, with more liking for all-natural or preservative-free products.

The leading international companies are investing heavily in the point of purchase promotions in the region. This is highly concentrated in the convenience stores segment which led the market, with an approx. share of 40% in 2014. The companies have now shifted their focus on the online sales channel which is expected to grow with an anticipated CAGR of 10%, aided by the heavy discounts.
The regional market is now welcoming a more geriatric consumer base, which is to aid the segment to grow at an anticipated CAGR of 6.78%. This is to allow the manufacturers to explore the sugar-free variants of gums, chews, and candies in the region. Yet the market is led by the adult age group segment, holding to a share of 48% in 2020.

The Middle East & Africa markets have proved to be a successful target for the premium brands with a vast affluent consumer base. In the region, South Africa dominates the market, with its well-established sugar confectionery industry. However, the industry is likely to be hurdled by the sugar tax and the subsidies removal. Followed by this, the shift of people towards healthy snacking is also to be a threat to the market, for which the manufacturers are adopting strategies of decreasing the calorie count and preservatives. Key players mentioned in this report are: Mars Wrigley Confectionery, div. of Mars Inc., Ferrero Group, Haribo GmbH & Co. K.G., Perfetti Van Melle, Meiji Co. Ltd., Nestle SA, Hershey Co., Lotte Confectionery Co., Ltd., Mondelez International, Lindt & Sprungli AG