Key regions: Spain, Canada, Japan, South Korea, Russia
The confectionery market in the UAE is seeing minimal growth, influenced by factors such as changing consumer preferences, increasing health consciousness, and the convenience of online shopping. Despite this slow growth, the market is expected to continue expanding due to the presence of diverse sub-markets such as chocolate, sugar, ice cream, and preserved pastry goods & cakes.
Customer preferences: The preference for healthier snacking options is on the rise in the UAE, with consumers prioritizing nutritious and functional ingredients in their confectionery choices. This trend is driven by a growing health-conscious population and the increasing awareness of the importance of a balanced diet. Additionally, there is a growing demand for organic and natural confectionery products, as consumers become more conscious of the environmental and ethical impact of their food choices.
Trends in the market: In the United Arab Emirates, the Confectionery market is experiencing a shift towards healthier options, with consumers increasingly seeking out products with natural ingredients and reduced sugar content. This trend is driven by a growing awareness of health and wellness, and is expected to continue in the coming years. Additionally, the rise of e-commerce and online shopping platforms is providing more convenient and diverse options for consumers to purchase confectionery products. This presents opportunities for industry stakeholders to tap into the growing demand for healthier and more convenient options in the confectionery market.
Local special circumstances: In the United Arab Emirates, the Confectionery market is influenced by its unique cultural and regulatory circumstances. With a large expatriate population, the market caters to a diverse range of tastes and preferences. Additionally, the country has strict regulations on food labeling and advertising, which shapes consumer behavior and buying patterns. The market is also affected by the country's geographic location, which makes it a prime destination for tourists, resulting in a high demand for premium confectionery products.
Underlying macroeconomic factors: The Confectionery Market in the United Arab Emirates is heavily influenced by macroeconomic factors such as consumer spending, population growth, and overall economic stability. As the country continues to experience strong economic growth, with a projected GDP growth rate of 2.2% in 2021, consumers are becoming more willing to spend money on indulgent treats such as confectionery products. Additionally, the UAE's growing population, which is expected to reach 10 million by 2021, is contributing to the demand for confectionery products. Furthermore, the government's fiscal policies, such as increased investment in infrastructure and tourism, are creating a favorable business climate for confectionery manufacturers and retailers in the country.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).Modeling approach:
Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.
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