Key regions: Russia, China, Spain, Canada, United Kingdom
The Meat Market in New Zealand has seen moderate growth, influenced by factors such as changing consumer preferences, increased health consciousness, and the convenience of online meat purchasing. The sub-markets of Fresh Meat, Processed Meat, and Meat Substitutes have played a role in shaping the overall market, with minimal growth rate being impacted by factors such as fluctuating prices and competition from alternative protein sources.
Customer preferences: Consumers in New Zealand are increasingly becoming health-conscious, leading to a growing demand for organic and ethically-sourced meat products. This trend is driven by cultural values and a desire for sustainable and ethical food choices. Additionally, the rise of flexitarian and plant-based diets is influencing consumer preferences in the Meat Market, as more individuals are opting for meat alternatives for health and environmental reasons.
Trends in the market: In New Zealand, the Meat Market within The Food market is experiencing a shift towards sustainable and ethical practices. Consumers are increasingly demanding transparency in the sourcing and production of their meat products, leading to a rise in certifications for humane treatment and environmentally-friendly methods. This trend is expected to continue, with industry stakeholders facing pressure to adapt and differentiate their products. Additionally, there is a growing interest in alternative protein sources, such as plant-based meat substitutes, which could disrupt the traditional meat market. This could have significant implications for both producers and retailers, as they navigate the changing preferences and behaviors of consumers.
Local special circumstances: In New Zealand, the Meat Market is heavily influenced by the country's agricultural sector and strong farming traditions. The market is also shaped by the country's strict regulations on meat production and labeling, ensuring high quality and traceability. Additionally, the Kiwi culture of valuing fresh, locally sourced food has led to a demand for grass-fed and pasture-raised meat products. These unique factors contribute to the country's high standards for meat and its reputation for producing some of the world's best quality beef and lamb.
Underlying macroeconomic factors: The Meat Market within The Food market in New Zealand is greatly impacted by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. The country's strong agricultural sector and growing demand for high-quality meat products from both domestic and international markets have contributed to the market's growth. However, challenges such as trade agreements, changing dietary preferences, and environmental concerns have also influenced market performance. Additionally, the COVID-19 pandemic has caused disruptions in supply chains and consumer behavior, further impacting the market. Nevertheless, the government's focus on sustainable farming practices and investments in technology and infrastructure are expected to drive the market's growth in the coming years.
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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