Key regions: Spain, Canada, Japan, South Korea, Russia
The Confectionery Market in New Zealand has seen minimal growth, influenced by factors such as changing consumer preferences, the rise of health-consciousness, and the convenience of online shopping for confectionery products. These factors have contributed to the overall market's slow growth rate.
Customer preferences: Consumers in New Zealand are increasingly prioritizing health and wellness, leading to a rise in demand for healthier and more natural options in the confectionery market. This is driven by a growing awareness of the impact of diet on overall health, as well as the influence of social media and health trends. As a result, there has been a shift towards clean label and functional ingredients, with a particular focus on plant-based and organic products. This trend is expected to continue as consumers become more health-conscious and seek out indulgent treats that align with their wellness goals.
Trends in the market: In New Zealand, the Confectionery Market of the Confectionery & Snacks Market within The Food market is experiencing a shift towards healthier options. This trend is driven by consumer demand for better-for-you snacks and a growing focus on wellness. As a result, companies are incorporating more natural and organic ingredients, as well as reducing sugar and artificial additives. This trajectory is significant as it reflects a changing consumer landscape and presents opportunities for industry stakeholders to tap into the growing market for healthier confectionery options. However, it also poses challenges for traditional confectionery brands to adapt and innovate to meet changing consumer preferences.
Local special circumstances: In New Zealand, the Confectionery Market is heavily influenced by the country's unique geographic location, as well as its cultural and regulatory environment. The country's remote location makes it challenging for international confectionery brands to enter the market, leading to a strong presence of local players. Moreover, New Zealand's cultural emphasis on healthy eating has resulted in a growing demand for organic and natural confectionery products. Additionally, strict food regulations and labeling requirements create a highly competitive and innovative market for confectionery products in New Zealand.
Underlying macroeconomic factors: The Confectionery Market of the Confectionery & Snacks Market within The Food market is significantly impacted by macroeconomic factors such as consumer spending, inflation rates, and trade policies. A healthy economy with stable inflation and favorable trade policies creates a conducive environment for manufacturers and suppliers to invest in new product development and expand their distribution networks. In contrast, economic instability and high inflation rates can lead to reduced consumer spending, resulting in a decline in market demand. Additionally, changes in import and export regulations can also affect the availability and pricing of ingredients and finished products, ultimately impacting the performance of the Confectionery Market.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).Modeling approach:
Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.
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