Retail current value sales growth across cooking ingredients and meals remains strong in 2023 with broader inflationary pressures a key contributor to this. While fuel costs have stabilised following the initial shock in 2022 after Russia’s invasion of Ukraine, the government’s temporary removal of excise duty on petrol ended in July with these increased costs being passed on to consumers.
Cyclone Gabrielle, which struck New Zealand’s North Island in mid-February, created widespread damage to multiple orchards and crops just prior to the start of the harvest season. The cyclone severely damaged vegetable crops and livestock operations and disrupted infrastructure, with Prime Minister Chris Hipkins calling it the country’s biggest natural disaster this century, with the total damage initially estimated at over USD8 billion.
With the diversity on offer across the constituent categories, cooking ingredients and meals remains a fragmented and competitive landscape. Nevertheless, with strong loyalty for its Wattie’s brand, Heinz Wattie’s Ltd continues to lead overall in 2023, despite cost-of-living pressures encouraging some consumers to trade down from brands towards private label lines such as Pams and Countdown.
Supermarkets remains the dominant distribution channel for cooking ingredients and meals in 2023. However, the practices of leading grocery retailers have come under increasing scrutiny due to perceived excessive profit levels, resulting in the local government conducting a market study into the practices of New Zealand’s supermarkets.
Strong value sales growth over 2022 and 2023 was fuelled by rampant inflation in the aftermath of the pandemic. With international and domestic supply chains severely disrupted as demand returned at pace following the removal of movement and travel restrictions, a consequence of this has been higher costs for both producers and distributors alike, which have been passed on to consumers and as such, while retail volume growth has been largely in line with review period trends, rising unit prices have driven higher levels of value sales growth.
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Understand the latest market trends and future growth opportunities for the Cooking Ingredients and Meals industry in New Zealand with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
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Cooking Ingredients and Meals
This report originates from Passport, our Cooking Ingredients and Meals research and analysis database.
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