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Specialty Chocolate Stores in Australia Industry Market Research Report Now Updated by IBISWorld
Date:9/23/2013

Melbourne, Australia (PRWEB) September 24, 2013

As the trend of premiumisation spreads, the Specialty Chocolate Stores industry in Australia has reaped the rewards. New players have entered the industry and existing enterprises have expanded or franchised, with the unfortunate exception of Darrell Lea Chocolates. With consumers devouring the industry's delicacies, revenue is forecast to grow at a compound annual rate of 4.7% over the five years through 2013-14. Consumers opt for premium chocolates as a little luxury in their day-to-day lives, and as a symbolic gift for special occasions. According to IBISWorld industry analyst Emily Witham, "industry revenue is expected to grow by 7.5% over 2013-14, bringing revenue to $279.6 million, with sales of artisan chocolate and seasonal or boxed chocolates driving revenue growth."

The general trend of health consciousness among consumers is growing, resulting in mixed outcomes for the Specialty Chocolate Stores industry. The widely accepted fact that consuming large amounts of chocolate is poor for heath has driven down overall chocolate consumption. On the other hand, it has also led many consumers to opt for lower volumes of chocolate, with a focus instead on value and quality. "Furthermore, at times when discretionary incomes decline, consumers often look to premium chocolates as an affordable luxury," says Witham. The viability of the industry, particularly with regard to handcrafted chocolates, depends on the availability and price of key quality inputs. The origin and quality of cocoa beans or powder is increasingly becoming a point of differentiation for various varieties of premium chocolates. Similarly, fluctuations in the price of dairy products and sugar affect industry profit margins
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