Key regions: United Kingdom, Russia, Philippines, United States, Spain
The Convenience Food market in New Zealand is seeing minimal growth, influenced by factors like increasing health consciousness, adoption of digital technologies, and the convenience of online health services. This has contributed to the rise of the Soups market in The Food market, with a focus on providing healthy and convenient options for consumers.
Customer preferences: Consumers in the Soups Market of the Convenience Food Market within The Food market are increasingly looking for healthier and more convenient options. This has led to a rise in demand for ready-to-eat soups made with natural and organic ingredients. Additionally, there has been a growing preference for plant-based soups, driven by the increasing number of individuals following vegetarian or vegan diets. This trend is also influenced by the rising awareness of sustainability and animal welfare concerns among consumers.
Trends in the market: In New Zealand and Soups Market of the Convenience Food Market within The Food market, there is a growing trend towards healthier and more sustainable options. This includes an increase in plant-based and organic soups, as well as a focus on reducing packaging waste. These trends are significant as they align with consumer demand for healthier and more environmentally-friendly options. Industry stakeholders should take note of these trends and adapt their offerings to cater to these changing preferences in order to remain competitive in the market. Additionally, there is potential for collaboration with local farmers and producers to source ingredients and reduce the carbon footprint of production.
Local special circumstances: In New Zealand, the Soups Market of the Convenience Food Market within The Food market is heavily influenced by the country's strong agricultural industry and its focus on sustainability. The demand for locally-sourced, organic ingredients in soups has been on the rise, driven by consumers' increasing awareness of health and environmental concerns. Additionally, the country's diverse cultural influences, particularly from Maori and Pacific Island communities, have led to the development of unique soup flavors and recipes, further differentiating the market from others. Government regulations promoting healthy eating habits have also played a role in shaping the Soups Market, with companies offering low-sodium and low-fat options to meet these requirements.
Underlying macroeconomic factors: The Soups Market of the Convenience Food Market within The Food market in New Zealand is influenced by macroeconomic factors such as consumer spending, economic growth, and government policies. The country's stable economy and increasing disposable income have led to a rise in demand for convenient and ready-to-eat food options, including soups. Additionally, the government's support for healthy eating and the growing trend of health-conscious consumers are driving the demand for healthier soup options, such as low-sodium and organic soups. Moreover, the increasing urbanization and busy lifestyles in New Zealand have also contributed to the growth of the soups market, as consumers seek convenient and time-saving meal solutions.
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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