Australia Chocolate Milk Market Report and Forecast 2024-2032

Australia Chocolate Milk Market Outlook

The Australia chocolate milk market size reached USD 837.67 million in 2023. The market is expected to grow at a CAGR of 4.5% between 2024 and 2032, reaching almost USD 1314.25 billion by 2032.

Key Takeaways

• In 2022, the average per capita expenditure on chocolate products in Australia stood at AU$196.96. About 49% of adult Australians indulged in candy and chocolate regularly in 2021. Low-income individuals constituted 35% of all chocolate consumers in Australia in 2021.

• As per industry reports, the revenue generated from chocolate confectionery in Australia reached AU$5.13 billion in 2022. As of 2022, Australia is home to 429 manufacturers of chocolate and confectionery products.

Chocolate milk is crafted by blending milk, chocolate, and sweeteners like high-fructose corn syrup or sugars. Renowned for its richness in leucine, vitamins A, B1, B6, and bone-strengthening properties, chocolate milk serves as a convenient energy source and nutrition supplement, fuelling its projected growth. Enriched with cocoa flavanols, chocolate milk enhances brain function, memory, skin hydration, and immune health, appealing to consumers' sweet taste receptors and driving the Australia chocolate milk market growth.

Amidst rising consumer demand for natural, nutritious snacks and a shift towards healthier lifestyles, the chocolate milk market is poised for growth, fuelled by factors such as increasing disposable incomes, flavoured dairy product demand, and retail accessibility. The emergence of non-dairy chocolate milk caters to vegan and lactose-intolerant consumers, offering reduced sugar content and fortified nutrients, further bolstering market prospects.

Health-conscious post-pandemic consumers gravitate towards organic and sugar-free chocolate milk variants, reflecting a shift away from artificial ingredients and fostering opportunities for market players to innovate and expand their offerings. In Australia, where chocolate milk has become ingrained in the cultural fabric, the industry thrives amidst a robust industrial landscape, with food and beverage processing playing a pivotal role in the nation's economy as well as aiding the Australia chocolate milk market development.

Market Segmentation

Australia Chocolate Milk Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Dairy Based Chocolate Milk

• Non-Dairy Based Chocolate Milk

Market Breakup by Distribution Channel

• Hypermarkets /Supermarkets

• Convenience Stores

• Online

• Others

Market Breakup by Region

• New South Wales

• Victoria

• Queensland

• Western Australia

• Australian Capital Territory

• Others

Competitive Landscape

Key players in the chocolate milk in Australia follow standard merger and acquisitions, offer low interest rates and improved products/services to support end users in the market.

• Fleurieu Milk Company

• The Little Big Dairy Co.

• Lactalis Australia Pty Ltd

• Brownes Foods Operations Pty Ltd

• Norco Co-operative Limited

• Others

Key Highlights of the Report