Key regions: Philippines, South Korea, Canada, Japan, China
The Confectionery & Snacks market in New Zealand is experiencing minimal growth, influenced by factors such as changing consumer preferences and increasing health awareness. Despite the convenience offered by online services, traditional snacks remain popular. The market's slow growth rate can also be attributed to the rising cost of raw materials and stricter regulations on sugar and fat content.
Customer preferences: Consumers in New Zealand are becoming more health-conscious and are looking for healthier and natural options in the Confectionery & Snacks Market within The Food market. This trend is being driven by the growing awareness of the negative impact of artificial ingredients and preservatives on health. As a result, there has been a rise in demand for organic and clean-label snacks, as well as products with natural sweeteners like honey and maple syrup. This shift in consumer preferences is also influenced by the increasing focus on sustainability, with individuals looking for eco-friendly and ethically sourced snacks.
Trends in the market: In New Zealand, the Confectionery & Snacks market is seeing a shift towards healthier options, as consumers become more health-conscious. This trend is driven by a growing demand for natural and organic products, as well as a desire for transparency and sustainability in the food industry. This has led to an increase in the availability of healthier snacks, such as protein bars, dried fruits, and nuts, and a decline in sales of traditional sugary snacks. This trend is expected to continue, as consumers prioritize their health and well-being, presenting opportunities for industry stakeholders to tap into this growing market segment and adapt their product offerings accordingly.
Local special circumstances: In New Zealand, the Confectionery & Snacks Market within The Food market is influenced by the country's unique geographical location and cultural preferences. With a strong focus on natural and healthy products, there is a growing demand for organic snacks and confectionery. Additionally, the government's stringent regulations on food labeling and advertising have a significant impact on market dynamics. This has led to the rise of innovative and sustainable packaging solutions in the market.
Underlying macroeconomic factors: The performance of the Confectionery & Snacks Market within The Food market in New Zealand is greatly impacted by macroeconomic factors such as consumer spending, inflation rates, and GDP growth. A strong economy with stable growth and rising disposable income levels can drive consumer demand for indulgent snacks and treats. On the other hand, an economic downturn and higher inflation rates can lead to a decrease in spending on non-essential items, resulting in lower sales for the market. Government policies and trade agreements also play a crucial role in shaping the market, as they can affect the cost of ingredients, import/export regulations, and overall business operations. Furthermore, consumer trends and preferences, such as the increasing demand for healthier snack options and sustainable packaging, are also important factors to consider in this market. Overall, the Confectionery & Snacks Market in New Zealand is highly sensitive to macroeconomic conditions and shifts in consumer behavior.
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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