Key regions: Japan, India, China, United Kingdom, South Korea
The Snack Food market in New Zealand has seen limited growth due to various factors such as changing consumer preferences, increased health consciousness, and the convenience of online food options. Despite the minimal growth rate, the Tortilla Chips, Flips & Pretzels, Potato Chips, and Cookies & Crackers sub-markets play a significant role in shaping the overall market.
Customer preferences: Consumers in New Zealand are increasingly looking for healthier snack options, driven by a growing awareness of the importance of maintaining a healthy lifestyle. This has led to a surge in demand for plant-based and organic snacks, as well as snacks with reduced sugar and salt content. Moreover, there is a growing interest in snacks that cater to specific dietary needs, such as gluten-free and vegan options. This trend is also influenced by the rise of conscious consumerism and the desire for sustainable and ethical food choices.
Trends in the market: In New Zealand, the Snack Food market is experiencing a rise in demand for healthier snack options, such as gluten-free, organic, and plant-based snacks. This trend is driven by consumers' increasing focus on health and wellness, as well as their desire for more sustainable and ethically-sourced products. As a result, snack food companies are introducing innovative products and expanding their offerings to cater to this growing market segment. This trend is expected to continue, with potential implications for industry stakeholders, including the need for product diversification and marketing strategies that promote the health benefits of these snacks.
Local special circumstances: In New Zealand, the Snack Food market is heavily influenced by the country's agricultural industry, with a strong focus on using locally sourced ingredients in products. Additionally, the country's food regulations prioritize transparency and sustainable production, leading to a growing demand for organic and natural snacks. The unique cultural preference for healthier snack options has also contributed to the rise of niche health food brands in the market. Furthermore, the country's remote geographic location has led to a reliance on imported snacks, making it a competitive market for international snack brands.
Underlying macroeconomic factors: The Snack Food Market of the Confectionery & Snacks Market within The Food market in New Zealand is heavily influenced by macroeconomic factors such as consumer spending, population growth, and government policies. A stable economy and rising disposable incomes have led to an increased demand for convenient and indulgent snack options. Additionally, the government's focus on promoting healthy eating habits and reducing sugar consumption has led to a shift towards healthier snack options. Moreover, the growing trend of snacking on-the-go and the rise in e-commerce have also contributed to the growth of the Snack Food Market in New Zealand.
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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