Australia: Chocolate Market 2024

Chocolate Market Size in Australia

The Australian chocolate market expanded markedly to $X in 2022, surging by 5.3% against the previous year. In general, consumption, however, saw a pronounced setback. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Chocolate Production in Australia

In value terms, chocolate production expanded to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a noticeable decrease. The pace of growth appeared the most rapid in 2020 with an increase of 19%. Chocolate production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Chocolate Exports

Exports from Australia

In 2022, overseas shipments of chocolate and cocoa products decreased by -17.5% to X tons for the first time since 2017, thus ending a four-year rising trend. Overall, total exports indicated temperate growth from 2012 to 2022: its volume 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. The pace of growth was the most pronounced in 2019 when exports increased by 15%. Over the period under review, the exports attained the maximum at X tons in 2021, and then reduced sharply in the following year.

In value terms, chocolate exports dropped modestly to $X in 2022. The total export value increased at an average annual rate of +3.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 11%. As a result, the exports attained the peak of $X, and then dropped in the following year.

Exports by Country

New Zealand (X tons), Japan (X tons) and Malaysia (X tons) were the main destinations of chocolate exports from Australia, together comprising 70% of total exports. The Philippines, Indonesia, Hong Kong SAR, Singapore, Thailand, South Korea, China and Fiji lagged somewhat behind, together comprising a further 23%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of +39.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for chocolate exported from Australia were New Zealand ($X), Japan ($X) and Malaysia ($X), together comprising 71% of total exports. The Philippines, China, Hong Kong SAR, Indonesia, Thailand, South Korea, Singapore and Fiji lagged somewhat behind, together comprising a further 22%.

In terms of the main countries of destination, China, with a CAGR of +39.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average chocolate export price stood at $X per ton in 2022, rising by 17% against the previous year. Over the period under review, the export price, however, showed a mild slump. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+2.6%), while the prices for the other major destinations experienced mixed trend patterns.

Chocolate Imports

Imports into Australia

In 2022, approx. X tons of chocolate and cocoa products were imported into Australia; with a decrease of -7.4% compared with 2021. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 24%. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, chocolate imports shrank to $X in 2022. The total import value increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 16% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Germany (X tons), Italy (X tons) and New Zealand (X tons) were the main suppliers of chocolate imports to Australia, with a combined 43% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +6.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest chocolate suppliers to Australia were Germany ($X), Italy ($X) and New Zealand ($X), with a combined 43% share of total imports.

Italy, with a CAGR of +10.1%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average chocolate import price amounted to $X per ton, increasing by 4.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The pace of growth was the most pronounced in 2018 an increase of 14% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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