Food & Drink - New Zealand

New Zealand

The Food & Drink market in New Zealand is expected to see a significant increase in total revenue, reaching US$3.74m in 2022.
This projection indicates a positive growth trend for the market.
Looking ahead, the market is anticipated to continue expanding at an annual growth rate of 9.96%, resulting in a projected market volume of US$6.01m by 2027.
Within the Food & Drink market, revenue from in-app purchases (IAP) is projected to reach US$1.57m in 2022.
This highlights the growing popularity of in-app purchases among consumers in New Zealand.
Additionally, revenue from paid app downloads is expected to reach US$0.16m in 2022, indicating a willingness among consumers to invest in food and drink applications.
Advertising revenue is also expected to play a significant role in the Food & Drink market, with a projected revenue of US$2.01m in 2022.
This suggests that businesses within the industry are actively utilizing advertising strategies to reach their target audience.
In terms of user engagement, the number of downloads in the Food & Drink market is projected to reach 0.38m downloads in 2022.
This signifies a high level of interest and demand for food and drink applications in New Zealand.
When considering the average revenue per download, it is currently expected to amount to US$9.75.
This metric provides insights into the value generated by each individual download, indicating the profitability of the market segment.
A global comparison reveals that in the United States generates the highest revenue in the Food & Drink market, with a projected revenue of US$786.60m in 2022.
This highlights the immense size and potential of the Chinese market within the food and drink industry.

Key regions: United States, India, South Korea, Japan, Asia

Market

Region

Region comparison

Currency

Analyst Opinion

Since the start of Apple, Inc.'s App Store in 2008 with around 500 apps, mobile apps have come to dominate the digital economy and have quickly outpaced the demand for desktop applications. As of 2021, the Apple App Store and Google Play Store had more than 5 million apps combined. Because many apps from the West are not available in China, many new app stores have emerged there. Digital lifestyles around the world now depend on adopting mobile apps, especially when it comes to social networking. The games industry has also been thoroughly transformed by the app revolution and is demonstrated by the fact that the games category is the largest and highest-grossing app category.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenue from in-app purchases, revenue from the purchase of apps, and revenue from advertising, as well as the number of downloads for each app category.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use market data from independent databases and third-party sources, current trends, and reported performance indicators of top market players. In addition, we use relevant key market indicators and data from country-specific associations, such as smartphone users and mobile broadband connections. 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 S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward apps.

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 in case market dynamics change.