Press Release

Australia Chocolate Market to Grow with Product Innovation During the Forecast Period

Rising disposable income, product line innovation, and growing demand for niche product categories such as organic chocolate products to fuel the Australia chocolate market through 2027.

According to TechSci Research report, Australia Chocolate Market - Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2017-20267” the Australia chocolate market is expected to project an impressive growth in the forecast period, 2023-2027, with an impressive CAGR of 7.79% on account of rapidly surging demand for organic, sugar-free, vegan, and gluten-free chocolates by consumers who are shifting towards a healthy lifestyle. Also, market players are offering new and innovative flavors, further boosting Australia's chocolate market.

The rising health consciousness among the population, growing sustainable procurement of cocoa, etc., are other major factors contributing to the growth of the Australia chocolate market. As the millennial and generation Z population accounts for approximately 40% of the overall population in Australia, the majority of individuals are health conscious and keep a check on what they are consuming.

Individuals are going for low sugar and organic chocolates, hence consuming chocolates without sacrificing the taste and richness associated with them. Moreover, the increasing interest in chocolates and changing taste preferences of people are driving the growth of premium chocolate brands in Australia.

The customer expectations shift leads them to choose items beyond dairy allergies and lactose intolerance. Also, millennials are looking for delicious yet nutritious chocolates. Additionally, the prominence of malls and supermarkets is also boosting the visibility of different flavors of chocolate products among consumers.

Browse over 17 market data Figures spread through 70 Pages and an in-depth TOC on "Australia chocolate market"

https://www.techsciresearch.com/report/australia-chocolate-market/1711.html

The Australia chocolate market is segmented based on type, category, distribution channel, competitional landscape, and regional distribution. Based on type, the market is further fragmented into milk chocolate, dark chocolate, and white chocolate. Dark chocolate is expected to register the fastest growth in the market on account of the rising awareness about the health benefits of cocoa-based products, especially dark chocolates.

Chocolates with higher cocoa concentrations help in improving cardiovascular health, blood flow, and cognitive functions. Moreover, the increasing interest in chocolates and changing taste preferences of people are driving the growth of premium chocolate brands in Australia.

Based on category, the market is segmented into tablets, countline, boxed chocolates, and others. Boxed chocolates are expected to register the largest revenue shares and assert their dominance over the market in the upcoming five years. Boxed chocolates are convenient to be gifted which makes them a clear choice for usage. Such factors are expected to support the growth of the sub-segment and growth of the Australia chocolate market in the next five years.

Key market players in the Australia chocolate market include:

·         Mondelēz Australia Pty. Ltd.

·         Mars Australia Pty. Ltd.

·         Lindt & Sprüngli (Australia) PTY LTD

·         Nestlé Australia Limited

·         Ferrero Australia Pty. Ltd.

·         Darrell Lea Confectionery Co. Pty. Ltd.

·         Haigh Pty. Lt.

·         Stuart Alexander & Co Pty Ltd.

·         J.H. Whittaker & Sons (Aust) Limited

·         Monsieur Truffe

Mondelēz Company is an American multinational manufacturer of snacks and beverages. The company offers products such as biscuits, chocolates, gums, and candy, etc. The company is consistently launching innovative and technologically advanced products that are further promoting its brand values.

For instance, in June 2021, the company launched a distinctive chocolate flavor ‘Cadbury Caramilk,’ a caramelized white chocolate. From early July 2021, the version is available in 80g tablets (£1) and 37g single bars (69p), as well as price-marked versions. Mars is a leading American multinational manufacturer of confectionery, pet food, and other food products, as well as an animal care service provider and is expected to further aid in the futuristic growth of the market.

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“The rising demand for assorted chocolates is expected to aid the growth of the chocolate market of Australia. Moreover, market players are continuously focusing on meeting the consumer demand for rising organic and clean label trends, along with the increasing demand for premium and organic ingredients surging due to the greater health advantages offered by these chocolates. These consumer indulgences are likely to boost the demand for premium chocolates in the future years. Also, new market players may focus on studying the consumer demands and extended research along with the innovative product launches, thus aiding their brand establishment. Such factors may influence the growth of the Australia chocolate market in the upcoming five years.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Australia Chocolate Market By Product Type (Milk Chocolate, Dark Chocolate and White Chocolate), By Category (Tablets, Countline, Boxed Chocolates, and Others (Assorted Chocolates, Chocolate Pouches & Bags, etc.)), By Distribution Channel (Departmental Stores, Convenience Stores/Forecourt Retailers, Supermarket/Hypermarket, Online, and Others (Specialty Stores, Duty-free Shops, Kiosks, Pharmacies, etc.)), By Region, Competition, Forecast & Opportunities, 2017-2027”, has evaluated the future growth potential of Australia chocolate market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Australia chocolate market.

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