Key regions: Spain, Canada, Japan, South Korea, Russia
The Confectionery market in Australia is facing minimal growth, influenced by various factors such as changing consumer preferences, increasing health concerns, and competition from healthier snack options. Despite this, the market is expected to continue growing due to the popularity of indulgent treats and the convenience of online purchasing. The sub-markets within the Confectionery & Snacks market, such as Chocolate Confectionery and Ice Cream, also play a role in shaping the overall market trends. However, the rising demand for healthier options may hinder the growth of traditional sugary treats in the future.
Customer preferences: Consumers in Australia are increasingly looking for healthier and more sustainable options in the Confectionery Market of the Confectionery & Snacks Market within The Food market. This has led to a rise in demand for organic and natural ingredients, as well as plant-based and vegan alternatives. With a growing awareness of the impact of food choices on the environment, consumers are also seeking out eco-friendly packaging and sustainable sourcing practices from confectionery brands. This trend is expected to continue as consumers prioritize health and sustainability in their purchasing decisions.
Trends in the market: In Australia, the Confectionery & Snacks Market within The Food market is experiencing a rise in demand for healthier options and alternative ingredients. This trend is driven by the increasing health consciousness among consumers and their growing preference for natural, organic, and plant-based products. As a result, companies are innovating and introducing new products that cater to this trend, such as sugar-free, gluten-free, and vegan confectionery. This trend is expected to continue in the coming years, presenting opportunities for industry players to diversify their product offerings and tap into the growing health-conscious market segment.
Local special circumstances: In Australia, the Confectionery market is heavily influenced by the country's diverse geography, with its vast coastlines and vast outback regions. This has led to a wide variety of unique local flavors and ingredients being incorporated into confectionery products, catering to the diverse tastes of the Australian population. Additionally, strict regulatory standards for food safety and labeling have contributed to the trust and high-quality perception of Australian confectionery products, making them popular both domestically and internationally.
Underlying macroeconomic factors: The Confectionery Market in Australia is heavily influenced by macroeconomic factors such as consumer spending, disposable income, and economic stability. The country's strong economic growth and low unemployment rate have resulted in increased consumer spending, leading to a rise in demand for confectionery products. Additionally, favorable fiscal policies and government initiatives to promote domestic production have supported the growth of the confectionery market. However, global economic trends, such as fluctuations in raw material prices and trade policies, can also impact the market performance in Australia. Moreover, changing consumer preferences towards healthier snacking options and increasing concerns about sugar intake are also shaping the confectionery market in the country.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).Modeling approach:
Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
