While New Zealand was subject to high levels of inflation in 2022, this is likely to be only the start of cost of living pressures to be faced by consumers over the forecast period. While inflation levels are expected to ease off from the beginning of the forecast period, a key immediate driver of this is expected to be rising interest rates, with the Reserve Bank of New Zealand expected to raise the Official Cash Rate to 3% by 2023.
A market study conducted by the Commerce Commission into uncompetitive practices in supermarkets was released in 2022, as a result if which the Government stated that it intended to implement tighter regulation and control of the supermarket duopoly in New Zealand, with the intention of increasing competition and reducing the comparatively high prices that New Zealanders pay for groceries. Alongside the study, several instances of uncompetitive behaviour were levied against both Foodstuffs and Countdown, including their treatment of suppliers.
With ample local supply of oats and strong demand due to growing health and wellness preferences among consumers, hot cereals was a leader of innovation within breakfast cereals in 2022 and shows no signs of slowing down, moving forward. While cost of living pressures are expected to impact breakfast cereals in general, consumers are unlikely to want to move away from health and wellness-positioned products.
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Understand the latest market trends and future growth opportunities for the Breakfast Cereals industry in New Zealand with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
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This is the aggregation of ready-to-eat (RTE) and hot cereals.See All of Our Definitions
This report originates from Passport, our Breakfast Cereals research and analysis database.
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