Australia and Oceania: Chocolate Market 2024

Chocolate Market Size in Australia and Oceania

The chocolate market in Australia and Oceania was estimated at $X in 2022, with an increase of 8.1% against the previous year. The total consumption indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -10.3% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Chocolate Production in Australia and Oceania

In value terms, chocolate production rose rapidly to $X in 2022 estimated in export price. The total production indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -9.8% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of 64%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Chocolate Exports

Exports in Australia and Oceania

After two years of growth, shipments abroad of chocolate and other food preparations containing cocoa decreased by -8.2% to X tons in 2022. Total exports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +7.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when exports increased by 103%. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, chocolate exports skyrocketed to $X in 2022. Total exports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +11.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +70.6% against 2019 indices. The pace of growth was the most pronounced in 2013 with an increase of 98% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

The biggest shipments were from Australia (X tons), together recording 99% of total export.

Australia was also the fastest-growing in terms of the chocolate and other food preparations containing cocoa exports, with a CAGR of +22.3% from 2012 to 2022. From 2012 to 2022, the share of Australia increased by +71 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) also remains the largest chocolate supplier in Australia and Oceania.

In Australia, chocolate exports expanded at an average annual rate of +26.9% over the period from 2012-2022.

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2022, rising by 27% against the previous year. Export price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, chocolate export price increased by +71.0% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Australia.

From 2012 to 2022, the rate of growth in terms of prices for Australia amounted to +3.8% per year.

Chocolate Imports

Imports in Australia and Oceania

In 2022, imports of chocolate and other food preparations containing cocoa in Australia and Oceania declined sharply to X tons, with a decrease of -20.7% against 2021. Over the period under review, imports continue to indicate a slight curtailment. The most prominent rate of growth was recorded in 2019 with an increase of 26% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, chocolate imports dropped to $X in 2022. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 23%. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Australia (X tons) was the largest importer of chocolate and other food preparations containing cocoa, creating 71% of total imports. New Zealand (X tons) held the second position in the ranking, followed by New Caledonia (X tons) and Fiji (X tons). All these countries together took approx. 24% share of total imports. Papua New Guinea (X tons) took a relatively small share of total imports.

Australia experienced a relatively flat trend pattern with regard to volume of imports of chocolate and other food preparations containing cocoa. At the same time, Fiji (+14.6%), Papua New Guinea (+13.7%) and New Caledonia (+7.9%) displayed positive paces of growth. Moreover, Fiji emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of +14.6% from 2012-2022. By contrast, New Zealand (-12.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Australia, New Caledonia, Fiji and Papua New Guinea increased by +11, +4.6, +3.9 and +2.1 percentage points, respectively.

In value terms, Australia ($X) constitutes the largest market for imported chocolate and other food preparations containing cocoa in Australia and Oceania, comprising 71% of total imports. The second position in the ranking was held by New Zealand ($X), with a 12% share of total imports. It was followed by New Caledonia, with a 7.8% share.

In Australia, chocolate imports increased at an average annual rate of +1.9% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: New Zealand (-10.4% per year) and New Caledonia (+8.8% per year).

Import Prices by Country

The import price in Australia and Oceania stood at $X per ton in 2022, surging by 7.4% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2018 when the import price increased by 11% against the previous year. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was New Zealand ($X per ton), while Papua New Guinea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+1.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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