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Confectionery & Snacks - Kuwait

Kuwait
  • Revenue in the Confectionery & Snacks market amounts to US$2.57bn in 2024. The market is expected to grow annually by 4.77% (CAGR 2024-2029).
  • In global comparison, most revenue is generated United States (US$135bn in 2024).
  • In relation to total population figures, per person revenues of US$591.30 are generated in 2024.
  • In the Confectionery & Snacks market, volume is expected to amount to 331.50m kg by 2029. The Confectionery & Snacks market is expected to show a volume growth of 2.1% in 2025.0.
  • The average volume per person in the Confectionery & Snacks market is expected to amount to 68.7kg in 2024.

Definition:

The Confectionery & Snacks market includes both confectionery and snacks subsegments. Confectionery is defined as foods with a relatively high sugar content, such as chocolate and chocolate products, sugar confectionery such as chewing gum, sweets, ice cream, preserved pastry goods and cakes. Snack Foods are typically eaten in between meals or as a quick bite.

Structure:

The market consists of two different submarkets:

  • The Confectionery market covers foods with a relatively high sugar content. This market is divided into four subsegments: chocolate confectionery, ice cream, preserved pastry goods and cakes and sugar confectionery.
  • The Snack Food market covers sweet, savory, and salty snacks. This market is divided into three submarkets: cookies and crackers, potato chips, tortilla chips, flips, and pretzels.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.

For more information on the displayed data, click the info button on the right side of each box.

In-Scope

  • Chocolate and sugar confectionery
  • Ice Cream
  • Cakes
  • Snack Food
  • Cookies and crackers

Out-Of-Scope

  • Chocolate/nut/nougat spreads
  • Peanut butter
  • Desserts
  • Out-of-home consumption
Confectionery & Snacks: market data & analysis - Cover

Market Insights report

Confectionery & Snacks: market data & analysis

Study Details

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Volume

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Price

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Sales Channels

    Most recent update: Nov 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Confectionery & Snacks Market in Kuwait shows minimal growth, influenced by factors such as consumer preference for healthier snacks, increased competition from imported brands, and changing consumer lifestyles. This has led to a rise in demand for healthier options and more convenient snacking choices. Despite slow growth, the market remains driven by the country's growing population and increasing disposable income.

    Customer preferences:
    The Confectionery & Snacks Market in Kuwait has seen a rise in demand for healthier and more natural options. As consumers become more health-conscious, there is a growing preference for snacks made with all-natural ingredients and without artificial flavors or preservatives. This trend is also driven by the increasing awareness of the impact of food choices on overall well-being, as well as a shift towards sustainable and ethical consumption. Additionally, there is a growing market for gluten-free and vegan snacks, catering to the dietary preferences of a diverse population in Kuwait.

    Trends in the market:
    In Kuwait, the Confectionery & Snacks Market within The Food market is experiencing a surge in demand for healthier options, with consumers becoming more health-conscious. This trend is reflected in the increasing availability of organic and low-sugar snacks. Additionally, there is a growing demand for unique and exotic flavors, driven by the country's diverse population. This trend is expected to continue, with industry players focusing on innovation and product differentiation to cater to changing consumer preferences. For stakeholders in the industry, staying ahead of these trends and adapting to the evolving market landscape will be crucial for maintaining a competitive edge.

    Local special circumstances:
    In Kuwait, the Confectionery & Snacks Market within The Food market is heavily influenced by local cultural preferences. Snacks such as dates, nuts, and halwa are popular due to their traditional significance in Kuwaiti cuisine. The country's hot climate also plays a role, as consumers tend to favor snacks and treats that are refreshing and easy to eat on-the-go. Additionally, Kuwait has strict regulations on food imports, leading to a rise in locally produced snacks and confectionery items.

    Underlying macroeconomic factors:
    The Confectionery & Snacks Market within The Food market in Kuwait is greatly impacted by macroeconomic factors such as changing consumer preferences, government regulations, and fluctuations in global commodity prices. The country's economic stability and growth also play a crucial role in influencing the market, with factors such as GDP, inflation rates, and currency exchange rates affecting consumer spending and purchasing power. Additionally, fiscal policies and taxation policies can impact the overall performance of the market by influencing production costs and consumer prices. With the growing population and increasing disposable incomes, the demand for confectionery and snack products is expected to continue to rise in Kuwait, making it a promising market for key players in the industry.

    Methodology

    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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    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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