Australians are paying more for chocolate – and getting smaller servings – as the industry reels from soaring cocoa bean costs, which have prompted Cadbury to double the price of its Freddo Frogs and Caramello Koalas.

Strong global demand for chocolate and smaller crops, caused by unconducive weather conditions, ageing trees and crop disease, have been blamed for record cocoa bean prices this year.

“We want chocolate forever, and now it’s under threat,” said Ian Neeland, co-founder of three chocolate factories and ice creameries in the Yarra Valley, Mornington Peninsula and Great Ocean Road.

Haigh’s Chocolates chief operating officer Peter Millard said it had increased prices because of the rising costs of cocoa, other ingredients and labour, but consumer demand remained steady.

“Haigh’s expects the recent incredibly high spot pricing is a short peak, but may result in long-term pricing higher than has been the case over the last decade.”

Troy Wainwright said his Sunshine Coast business, Maleny Chocolate Co, had been hit by three price rises over the past two months. “I think these prices are going to continue, and it’s re-educating everybody that this is the new norm,” he said.

Wainwright said consumers were noticing shrinkflation – when package sizes are reduced but prices stay the same – as well as rising prices across the sector.

“They’re looking at it [prices] going, ‘Holy heck. This used to be this, and now it’s that’.”

Soaring cocoa prices have shaken Australia’s $5.5 billion chocolate industry, which is led by Cadbury-owner Mondelez, Mars Wrigley and Nestle, according to researchers IBIS.