Press Release Description

The UAE Snacks Market to Heighten Due to the Surge in Young Demographic & Women Workforce

The UAE Snacks Market Size is projected to grow at a CAGR of around 3.6% during the forecast period of 2024-29, cites MarkNtel Advisors in the recent research report. Over the past years, the market has experienced substantial growth, primarily driven by the country's increasing prosperity, supported by a robust economy that has resulted in higher disposable incomes. This uptick in disposable income, in turn, has spurred greater consumer spending, particularly in the realm of convenient snacks.

The presence of a youthful & dynamic population comprising both nationals & expatriates has generated a rising demand for on-the-go snack choices. Busy lifestyles marked by extended working hours & commutes have further amplified the requirement for easily accessible snacks in recent times.

Moreover, the UAE has witnessed a notable boost in the participation rate of women in the workforce, primarily propelled by government initiatives such as the UAE Gender Balance Council, QUDWA, National Strategy for Empowerment of Emirati Women, etc. According to the World Bank, the Emirati women's labor force increased to around 17% in 2022 from about 16.4% in 2020. Hence, this upward trajectory is expected to persist and is poised to have a positive impact on the industry in the coming years, further states the research report “The UAE Snacks Market Analysis, 2024.”

UAE Snacks Market

The UAE Snacks Market Segmentation Analysis

Chocolate Confectionery is Projected to Hold Significant Share of the Market

Based on the product type segment, the market is further bifurcated into Sweet Biscuits, Snack Bars, and fruit snacks, Savory Snacks, Ice Cream, sugar confectionery, and Chocolate Confectionery. Of them, Chocolate Confectionery held the major market share in recent years, owing to the soaring demand driven by the country's young population.

Moreover, the retail sector is thriving, fueled by tourism recovery & government initiatives. According to the Dubai Chamber of Commerce, retail sales in the UAE grew by around 13% in 2020-22 and are expected to maintain around 6.6% annual growth by 2025. This signifies that there would be opening of more supermarkets & hypermarkets in the UAE during the forecast period, offering a wide range of chocolate confectioneries & contributing to the expansion of the Snack Market in the country.

Dubai is Expected to Account for the Prominent Share of the UAE Snacks Market

Dubai is expected to maintain its dominance with the highest share in the UAE Snacks Market in the forthcoming years. Dubai's emergence as a hub for various cultural festivals and events drives increased consumption of snacks as they involve the exchange of snacks as a form of hospitality, as well as the presence of vendor stalls offering a wide range of snack options. This leads to seasonal spikes in snack sales, further enhancing Dubai's position in the UAE snack market in recent times.

Furthermore, there is a growing consumption of premium chocolates in Dubai, driven by a strong preference for high-quality imports and the presence of affluent Western expats & wealthy residents. This anticipated presence of high-income residents would likely increase the consumption of premium snacks, thereby enhancing the Dubai Snacks market during the forecast period.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Mars Inc., PepsiCo Inc., Nestle Middle East, Kellog Co., Mondelez International Inc., IFFCO Group, Ferrero & Related Parties, National Food Industries LLC (NFI), Savola Group, Perfetti Van Mella Group, and Others, are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

  1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
  2. What are the trends influencing the current scenario of the market?
  3. What key factors would propel and impede the industry across the country?
  4. How has the industry been evolving in terms of geography & product adoption?
  5. How has the competition been shaping across the country?
  6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-29?
  7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

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