The coconut candy market in Middle East & Africa is expected to grow from US$ 123.22 million in 2022 to US$ 160.23 million by 2028. It is estimated to grow at a CAGR of 4.5% from 2022 to 2028.

Surging Demand for Sugar-Free and Organic Coconut Candies

People, nowadays, are becoming more concerned about the health impacts of consuming sugar-dense food and beverages. As a result, they are shifting to sugar-free or low-sugar alternatives to stay fit. This trend is gaining traction in the confectionery industry, which is significantly driving the demand for sugar-free coconut candies. Many companies also offer certified organic coconut candies that are gaining immense popularity among consumers. Organic ingredients are perceived to be healthier than conventional ones as they are obtained from farming practices that are free of pesticides, genetically modified organisms, and chemical additives. Moreover, these ingredients are grown following stringent agricultural practices that avoid the use of growth hormones and synthetic additives. Thus, the growing inclination toward sugar-free and organic coconut candies is expected to provide lucrative growth opportunities to the MEA coconut candy market in the coming years.

Market Overview

South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa are the key contributors to the coconut candy market in the Middle East & Africa. With a recovery in economic growth and appreciation of the local currency following the recession and severe depreciation in 2016, the confectionery industry witnessed significant growth in the region. Additionally, consumers’ tastes and their inclination toward chocolates and sweets are the never-ending reason behind the growth of the confectionery market in the region. As consumers across the region are becoming more sophisticated and health conscious, they are increasingly searching for naturally flavored confectioneries that are differentiated from standard products. Growing awareness regarding the benefits of consuming coconut products has been augmenting the market growth. Coconut flesh is highly nutritious and provides fibers and vitamins—E, C, B1, B3, B5, and B6—as well as minerals such as iron, sodium, calcium, magnesium, selenium, and phosphorous. These factors have resulted in a surge in demand for coconut-based confectionery products and are further expected to stroke the growth of the Middle East & Africa coconut candy market in the future.

Middle East & Africa Coconut Candy Market Revenue and Forecast to 2028 (US$ Million)

Middle East & Africa Coconut Candy Market Segmentation

The Middle East & Africa coconut candy market is segmented into product type, category, distribution channel, and country.

Based on product type, the market is bifurcated into chocolate coconut candy and non-chocolate coconut candy. The chocolate coconut candy segment registered the larger market share in 2022.

Based on category, the market is bifurcated into sugar-free and conventional. The conventional segment held a larger market share in 2022.

Based on distribution channel, the market is segmented into supermarkets & hypermarkets, convenience stores, online retail, and others. The supermarkets & hypermarkets segment held the largest market share in 2022.

Based on country, the market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The Rest of Middle East & Africa dominated the market share in 2022.

Alfred Ritter GmbH & Co. KG; Chocoladefabriken Lindt and Spruengli AG; Ferrero International S.A.; Godiva; Mars Incorporated; The Hershey Company; Unreal Brands Inc.; and Weetabix Food Co. are the leading companies operating in the coconut candy market in the Middle East & Africa region.

TABLE OF CONTENTS

1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis Formulation:
3.2.4 Macro-economic Factor Analysis:
3.2.5 Developing Base Number:
3.2.6 Data Triangulation:
3.2.7 Country Level Data:
4. MEA Coconut Candy Market Landscape
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Intensity of Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Expert Opinion
4.4 Ecosystem Analysis
5. MEA Coconut Candy Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Consumption of Coconut-Based Products
5.1.2 Strategic Initiatives by Key Market Players
5.2 Market Restraints
5.2.1 High Sugar Content of Conventional Coconut Candies
5.3 Market Opportunities
5.3.1 Surging Demand for Sugar-Free and Organic Coconut Candies
5.4 Future Trends
5.4.1 Consumer Inclination Toward Vegan Candies
5.5 Impact Analysis of Drivers and Restraints
6. Coconut Candy – MEA Market Analysis
6.1 MEA Coconut Candy Market –Revenue and Forecast to 2028 (US$ Million)
7. MEA Coconut Candy Market Analysis – By Product Type
7.1 Overview
7.2 MEA Coconut Candy Market Breakdown, by Product Type, 2021 & 2028
7.3 Chocolate Coconut Candy
7.3.1 Overview
7.3.2 Chocolate Coconut Candy: MEA Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Non-Chocolate Coconut Candy
7.4.1 Overview
7.4.2 Non-Chocolate Coconut Candy: MEA Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)
8. MEA Coconut Candy Market Analysis – By Category
8.1 Overview
8.2 MEA Coconut Candy Market Breakdown, by Category, 2021 & 2028
8.3 Sugar-Free
8.3.1 Overview
8.3.2 Sugar-Free: MEA Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Conventional
8.4.1 Overview
8.4.2 Conventional: MEA Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)
9. MEA Coconut Candy Market Analysis – By Distribution Channel
9.1 Overview
9.2 MEA Coconut Candy Market Breakdown, by Distribution Channel, 2021 & 2028
9.3 Supermarkets & Hypermarkets
9.3.1 Overview
9.3.2 Supermarkets & Hypermarkets: MEA Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Convenience Stores
9.4.1 Overview
9.4.2 Convenience Stores: MEA Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)
9.5 Online Retail
9.5.1 Overview
9.5.2 Online Retail: MEA Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)
9.6 Others
9.6.1 Overview
9.6.2 Others: MEA Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)
10. MEA Coconut Candy Market – Country Analysis
10.1 Overview
10.1.1 Middle East and Africa: Coconut Candy Market, by Key Country
10.1.1.1 South Africa: Coconut Candy Market –Revenue and Forecast to 2028 (US$ Million)
10.1.1.1.1 South Africa: Coconut Candy Market, by Product Type
10.1.1.1.2 South Africa: Coconut Candy Market, by Category
10.1.1.1.3 South Africa: Coconut Candy Market, by Distribution Channel
10.1.1.2 Saudi Arabia: Coconut Candy Market –Revenue and Forecast to 2028 (US$ Million)
10.1.1.2.1 Saudi Arabia: Coconut Candy Market, by Product Type
10.1.1.2.2 Saudi Arabia: Coconut Candy Market, by Category
10.1.1.2.3 Saudi Arabia: Coconut Candy Market, by Distribution Channel
10.1.1.3 UAE: Coconut Candy Market –Revenue and Forecast to 2028 (US$ Million)
10.1.1.3.1 UAE: Coconut Candy Market, by Product Type
10.1.1.3.2 UAE: Coconut Candy Market, by Category
10.1.1.3.3 UAE: Coconut Candy Market, by Distribution Channel
10.1.1.4 Rest of MEA: Coconut Candy Market –Revenue and Forecast to 2028 (US$ Million)
10.1.1.4.1 Rest of MEA: Coconut Candy Market, by Product Type
10.1.1.4.2 Rest of MEA: Coconut Candy Market, by Category
10.1.1.4.3 Rest of MEA: Coconut Candy Market, by Distribution Channel
11. Industry Landscape
11.1 Product launch
11.2 Expansion
11.3 Collaboration
11.4 Company News
12. Company Profiles
12.1 Ferrero International S.A.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 The Hershey Company
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Mars Incorporated
12.3.1 Key acts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Chocoladefabriken Lindt and Spruengli AG
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Unreal Brands Inc.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Alfred Ritter GmbH & Co. KG
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Godiva
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Weetabix Food Co.
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index

LIST OF TABLES

Table 1. MEA Coconut Candy Market –Revenue and Forecast to 2028 (US$ Million)
Table 2. South Africa Coconut Candy Market, by Product Type – Revenue and Forecast to 2028 (US$ Million)
Table 3. South Africa Coconut Candy Market, by Category – Revenue and Forecast to 2028 (US$ Million)
Table 4. South Africa Coconut Candy Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 5. Saudi Arabia Coconut Candy Market, by Product Type – Revenue and Forecast to 2028 (US$ Million)
Table 6. Saudi Arabia Coconut Candy Market, by Category – Revenue and Forecast to 2028 (US$ Million)
Table 7. Saudi Arabia Coconut Candy Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 8. UAE Coconut Candy Market, by Product Type – Revenue and Forecast to 2028 (US$ Million)
Table 9. UAE Coconut Candy Market, by Category – Revenue and Forecast to 2028 (US$ Million)
Table 10. UAE Coconut Candy Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 11. Rest of MEA Coconut Candy Market, by Product Type – Revenue and Forecast to 2028 (US$ Million)
Table 12. Rest of MEA Coconut Candy Market, by Category – Revenue and Forecast to 2028 (US$ Million)
Table 13. Rest of MEA Coconut Candy Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 14. List of Abbreviation

LIST OF FIGURES

Figure 1. MEA Coconut Candy Market Segmentation
Figure 2. MEA Coconut Candy Market Segmentation – By Country
Figure 3. MEA Coconut Candy Market Overview
Figure 4. MEA Coconut Candy Market, By Product Type
Figure 5. MEA Coconut Candy Market, By Country
Figure 6. MEA Porter’s Five Forces Analysis
Figure 7. Expert Opinion
Figure 8. MEA Coconut Candy Market, Ecosystem
Figure 9. MEA Coconut Candy Market: Impact Analysis of Drivers and Restraints
Figure 10. MEA: Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 11. MEA Coconut Candy Market Breakdown, by Product Type, 2021 & 2028
Figure 12. Chocolate Coconut Candy: MEA Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. Non-Chocolate Coconut Candy: MEA Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. MEA Coconut Candy Market Breakdown, by Category, 2021 & 2028
Figure 15. Sugar-Free: MEA Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Conventional: MEA Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. MEA Coconut Candy Market Breakdown, by Distribution Channels, 2021 & 2028
Figure 18. Supermarkets & Hypermarkets: MEA Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Convenience Stores: MEA Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Online Retail: MEA Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. Others: MEA Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. Middle East and Africa: Coconut Candy Market, by Key Country- Revenue (2021)
Figure 23. Middle East and Africa: Coconut Candy Market Revenue Share, by Key Country (2021 and 2028)
Figure 24. South Africa: Coconut Candy Market –Revenue and Forecast to 2028 (US$ Million)
Figure 25. Saudi Arabia: Coconut Candy Market –Revenue and Forecast to 2028 (US$ Million)
Figure 26. UAE: Coconut Candy Market –Revenue and Forecast to 2028 (US$ Million)
Figure 27. Rest of MEA: Coconut Candy Market –Revenue and Forecast to 2028 (US$ Million)

● Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Middle East Africa coconut candy market.
● Highlights key business priorities in order to assist companies to realign their business strategies
● The key findings and recommendations highlight crucial progressive industry trends in the Middle East Africa coconut candy market, thereby allowing players across the value chain to develop effective long-term strategies
● Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
● Scrutinize in-depth Middle East Africa market trends and outlook coupled with the factors driving the coconut candy market, as well as those hindering it
● Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution

● Alfred Ritter GmbH & Co. KG
● Chocoladefabriken Lindt and Spruengli AG
● Ferrero International S.A.
● Godiva
● Mars Incorporated
● The Hershey Company
● Unreal Brands Inc.
● Weetabix Food Co.

At 4.5% CAGR, the Middle East & Africa Coconut Candy Market is speculated to be worth US$ 160.23 million by 2028, says The Insight Partners

According to the Insight Partners’ research, the Middle East & Africa coconut candy market was valued at US$ 123.22 million in 2022 and is expected to reach US$ 160.23 million by 2028, registering a CAGR of 4.5% from 2022 to 2028. Consumer inclination toward vegan candies and surging demand for sugar-free and organic coconut candies are the critical factors attributed to the market expansion.

Veganism is gaining significant traction with consumers becoming increasingly concerned about animal cruelty, sustainability, and health and well-being. Registrations for “Veganuary,” a nonprofit organization that encourages people to eat vegan food in January, are increasing at a dramatic rate, with 620,000 registrations in 2022. According to Veganuary, the veganism trend is becoming more than just a one-month commitment as a large number of people are permanently shifting toward plant-based food. The increasing preference for vegan food is mainly attributed to the perceived health benefits of plant-based food over animal-derived food. Moreover, the rising number of affiliations for animal safety is also favoring the vegan industry’s growth. Vegan candies, constituting 100% plant-based ingredients, are highly suitable for consumers looking for healthy indulgence. Coconut candies are also expected to gain huge traction among consumers with a rising inclination toward vegan candies. Confectionery manufacturers are launching coconut candies with vegan claims to appeal to a large number of consumers. For example, in January 2021, Bounty, a brand of Mars Incorporated, launched vegan chocolate bars blended with diced coconut, inspired by tropical flavors. The product is 100% vegan and gluten free. Thus, the rising preference for vegan candies is likely to emerge as a new trend in the Middle East & Africa coconut candy market during the forecast period.

On the contrary, high sugar content of conventional coconut candies hurdles the growth of Middle East & Africa coconut candy market.

Based on product type, the Middle East & Africa coconut candy market is bifurcated into chocolate coconut candy and non-chocolate coconut candy. The chocolate coconut candy segment held 63.5% market share in 2022, amassing US$ 78.24 million. It is projected to garner US$ 98.39 million by 2028 to expand at 3.9% CAGR during 2022–2028.

Based on category, the Middle East & Africa coconut candy market is bifurcated into sugar-free and conventional. The conventional segment held 97.9% market share in 2022, amassing US$ 120.58 million. It is projected to garner US$ 155.96 million by 2028 to expand at 4.4% CAGR during 2022–2028.

Based on distribution channel, the Middle East & Africa coconut candy market is segmented into supermarkets & hypermarkets, convenience stores, online retail, and others. The supermarkets & hypermarkets segment held 62.3% market share in 2022, amassing US$ 76.79 million. It is projected to garner US$ 100.18 million by 2028 to expand at 4.5% CAGR during 2022–2028.

Based on country, the Middle East & Africa coconut candy market has been categorized into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that the Rest of Middle East & Africa captured 54.9% market share in 2022. It was assessed at US$ 67.68 million in 2022 and is likely to hit US$ 85.12 million by 2028, exhibiting a CAGR of 3.9% during the forecast period.

Key players profiles in the Middle East & Africa coconut candy market report are Alfred Ritter GmbH & Co. KG; Chocoladefabriken Lindt and Spruengli AG; Ferrero International S.A.; Godiva; Mars Incorporated; The Hershey Company; Unreal Brands Inc.; and Weetabix Food Co., among others.