Australia Chocolate Market To Be Dominated by Milk Chocolate Segment During the Forecast Period
The rising
demand for artisanal chocolates and the rising premiumization of chocolates is
expected to fuel the growth of the Australia Chocolate Market through 2028F.
According
to TechSci Research report, “Australia Chocolate Market– By Region, Competition, Forecast & Opportunities, 2028F”, The Australia chocolate market is
anticipated to project robust growth during the forecast period because of
rising demand among young children, availability of premium chocolates, and
increasing boxed assortments.
The desire
for premium products has grown in Australia, which has led to revenue growth.
Manufacturers must focus on new product development and innovation in order to
succeed as consumers shift toward premium, high-quality items, and become more
health conscious.
During the forecast
period, it is expected that Australia's chocolate industry would expand quickly
owing to the rising demand for organic chocolates. Moreover, the companies in
the Australian chocolate market are developing appealing product packaging,
creative branding initiatives, promotional activities, and marketing tactics to
appeal to children, which make up most of the end-user segment, and are further
assisting in the growth of market.
The
mass-produced chocolates include artificial additives such as corn syrup,
propylene glycol, or castoreum (an extract of the castor sacs from a particular
species of beaver), which are used to flavor the chocolates with counterfeit
vanilla and raspberry, respectively. While small batches and manual labor are
used to create artisan chocolate, making it both fresh and expertly prepared,
making it a more sustainable and healthier choice. As a result, the chocolates
made in large quantities dominate the chocolate industry and take on a range of
unique shapes and forms.
There are
three product types available. The first one is milk chocolate that contains
sugar, milk, cocoa butter, and cocoa powder. Although, the cocoa content of
different chocolate bars can vary, and some people could even refer to a milk
chocolate with a higher cocoa content as "dark" milk.
Dark
chocolate is created simply from sugar, cocoa butter, and cocoa powder. However,
if it is labelled as 100% dark chocolate, then, it only contains cocoa solids.
If the percentage is higher, then there is less percentage of other ingredients
(sugar and cocoa butter). White chocolate comprises of sugar, cocoa butter, and
milk as its three ingredients. So, that differentiates chocolate as milk,
white, or dark is actually found within it. The three chocolates frequently
contain soy lecithin to assist the chocolatiers work with them more easily and
a small amount of vanilla to enhance the flavors.
Browse over xx
market data Figures spread through xx Pages and an in-depth TOC on the "Australia Chocolate Market"
The Australia chocolate market is segmented on the
basis of product type, category, distribution channel, and region.
Based on product type, the market is further segmented into milk, dark
and white. The market is expected to be dominated by the milk chocolate segment
on account of increasing demand from young children and adult population. Since
large chocolate firms generally began with milk chocolates, sales of that
variety are higher than those of dark or white chocolate. Children are more
likely to prefer the sweet, milky flavor of chocolates. Due to the recent
introduction of dark chocolates, considerable market shares for dark chocolates
are also predicted to increase. In the coming five years, the industry is
expected to grow due to broadening scope of market players who offer a variety
of dark chocolate products.
Based on category, the market is segmented into tablets, countline,
boxed chocolates, and others (assorted chocolates, chocolate pouches &
bags, etc.). The market is dominated by tablets segment on account of having
highest sale in Australia.
On the basis of distribution channel, the market is further segmented
into departmental stores, convenience stores/forecourt retailers,
supermarkets/hypermarkets, online, and others (specialty stores, duty-free
shops, kiosks, pharmacies, etc.). On the basis of region, the market is divided
into Australia Capital Territory & New South Wales, Northern Territory
& Southern Australia, Western Australia, Queensland, and Victoria &
Tasmania.
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
- AE Haigh Pty
Ltd.
- Stuart
Alexander & Co Pty Ltd.
- J.H.
Whittaker & Sons (Aust) Limited
- Monsieur Truffe
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"The
rising demand of artisanal chocolates is a significant trend expected to impact
growth during the forecast period. The rising premiumization of chocolates,
changing lifestyle, rising disposable income, availability of wide range of
products and rising demand of chocolates among children are the leading factors
that are expected to positively impact the chocolate market. Owing to the wide
range of products available to meet the specific needs of customers and the
growing popularity of the internet channel, the market is growing.” said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based Australia
management consulting firm.
Australia Chocolate Market, By Product Type (Milk, Dark and
White), By Category (Tablets, Countline, Boxed Chocolates, and Others (Assorted
Chocolates, Chocolate Pouches & Bags, etc.)), By Distribution Channel
(Departmental Stores, Convenience Stores/Forecourt Retailers, Supermarkets/Hypermarkets,
Online, and Others (Specialty Stores, Duty-free Shops, Kiosks, Pharmacies,
etc.)), By Region, Competition, Forecast & Opportunities, 2028F, has
evaluated the future growth potential of chocolate market and provides
statistics and information on market structure, size, share, and future growth.
The report is intended 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 present in products of chocolates.
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