A report on Australia’s chocolate consumption has predicted Australians will spend close to $210 million on chocolate this Easter, with the big winners being premium brands such as Haigh’s and Lindt.
The figures are not surprising when you consider Australia’s love affair with sugar. The confectionery industry in Australia generates close to 6 billion dollars in revenue every year.
The IBISWorld report suggests Easter revenue is up 0.8 per cent on last year, with Australia’s chocolate spend rising by $26 million over the past five years.
The majority of chocolate bought by Australians this Easter will be at major supermarkets such as Coles, Woolworths and Aldi.
The confectionery industry has been under fire in recent years amidst growing consumer concerns about the amount of fat and sugar in foods. The industry has responded to the issue by diversifying its products to introduce healthier alternatives.
Additionally, consumer demand for premium products has increased over the past five years, which has boosted industry performance.
IBISWorld predicts industry revenue to grow to reach $6.1 billion in 2018.
According to the IBISWorld report, consumer demand for gourmet products that are healthier and more sustainable is on the rise, with consumers willing to pay a premium for chocolate and confectionery that fits into these categories.