Australia Chocolate Market Share and Forecast till 2028

 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.

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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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