Italian Food Exports To Australia See Strong Growth
Italian food brands have seen a strong growth in sales in Australia over the past year, due to growing consumer acceptance and increased spending, according to Nielsen.
Although the market share is still modest, the research organisation says that there is significant potential for growth going forward.
In its Homescan study, which analysed ten categories in the food market, Nielsen found that value sales of Italian brand products increased by 7.4% in the year ending August 2017, exceeding the overall growth in expenditure on food including fresh products (+2.5%).
Over the last 12 months, 5.7 million Australian households (62.3% of the population) bought Italian products - a growth of 149,000 households over the previous year. These consumers spent an average of US$21.37 per year (€17.91) for these products, representing growth of 4.7%.
The most popular Italian food products for Australian shoppers are dry pasta (+21.9%), bottled sauces (+24.4%), and canned tomatoes (+25.3%). However, Nielsen notes that there is significant growth potential for other Italian products such as cheeses, vinegar, biscuits, water, olive oil and coffee.
According to Nielsen’s estimates, if the number of Australian families buying Italian food brands increases by +1% in 2018, this would generate an additional profit of US$ 1.98 million (€1.66 million) next year.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine.