Value sales growth within baked goods in 2018 was greater than both the value growth observed in 2017, as well as the review period CAGR, and while increasing premiumisation trends helped drive this, increasing price competition in supermarkets countered this somewhat. However, value growth in 2018 highlighted increasing per capita consumption within baked goods in 2018 as the key driver behind the growth.
Packaged leavened bread continues to hold the largest value share within baked goods in New Zealand in 2018, and a loaf of bread is considered a staple household foodstuff item for New Zealand households. As such, both major supermarket companies, Foodstuffs (NZ) Ltd and Progressive Enterprises Ltd, offer NZD1 loaves of white bread under their private label lines as a foot traffic driver – a strategy that has been in place since the beginning of the review period.
While craft trends have long been prominent in drinks markets, such as alcoholic drinks and non-alcoholic drinks, as well as some dairy categories, baked goods has largely been dominated by packaged products, which while possessing some focus on flavour and product quality, have tended to be mass produced and targeted toward convenience trends. Changes in consumer preferences toward more premium-orientated and artisanal products has led to strong CAGRs over the review period in unpackaged products, particularly unpackaged leavened bread, which lends itself well to artisanal preferences.
Goodman Fielder New Zealand Ltd continued to lead baked goods in 2018 with a strong brand portfolio including Quality Baker's, Nature's Fresh, Vogel's, Freya's and Ernest Adams, all of which enjoy strong brand recognition among New Zealand consumers. The company announced in 2018 that its Molenberg brand would become the first stand-alone sponsor of the Black Ferns and Black Ferns Sevens rugby teams.
Baked goods remained an effective duopoly in New Zealand in 2018, with George Weston Foods holding second placed behind Goodman Fielder. The company is present in baked goods through its Tip Top, Bürgen, Ploughman's, Golden and Ryvita brands, all of which enjoy strong brand recognition and affinity among New Zealand consumers.
The competitive dynamics at play in baked goods in New Zealand continued to intrigue in 2018. Both Goodman Fielder and George Weston Foods were the two leading branded players, and were also the leading suppliers to private label in baked goods.
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This industry report originates from Passport, our Packaged Food market research database.