The pandemic has had a profound impact on retail sales of cooking ingredients and meals in New Zealand, with demand spiking due to government-imposed lockdowns over the past two years. On the other hand, the delayed response to the reopening of the country’s borders has further compounded the challenges faced by local foodservice operators as they have yet to return to pre-pandemic levels.
The effects of disruption to international and domestic supply chains during the pandemic continue to be felt in New Zealand in 2022. The arrival of the Omicron variant early in the year and government requirements regarding home isolation for those contracting the virus meant that staff shortages created significant delays with stock movement for suppliers and supermarkets alike, with finished goods and input ingredients impacted.
With a diverse offer across the categories, cooking ingredients and meals remains a fragmented competitive landscape in New Zealand. Nevertheless, with strong loyalty for its Wattie’s brand, Heinz Wattie's Ltd is set to retain its lead in 2022, despite cost of living pressures seeing consumers trading down to private label from brands.
Supermarkets remains the dominant distribution channel for cooking ingredients and meals in 2022. However, due to increasing concerns over the monopoly of the leading grocery retailers, the government concluded its investigation into the practices of local supermarkets, indicating that it would introduce new regulatory measures for the industry to make it easier for others to enter, such as mandating that the wholesale operations of major players be opened up to competitors.
The future of cooking ingredients and meals is likely to be heavily influenced by the wider economic situation in New Zealand. While the Reserve Bank of New Zealand forecasts significant interest rate rises in quick succession through to 2023, most major economists are expecting rate rises to be slightly more subdued on account of an impending recession.
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Understand the latest market trends and future growth opportunities for the Cooking Ingredients and Meals 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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Cooking Ingredients and Meals
This report originates from Passport, our Cooking Ingredients and Meals research and analysis database.
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