Three key trends were evident across all categories within packaged food in New Zealand in 2018: convenience, health and wellness and premiumisation. Often these were interlinked, such as health and wellness-oriented products being positioned alongside premiumisation trends, for example organic products in chilled soup, while in other instances they were standalone trends, such as premiumisation influencing chocolate confectionery, or health and wellness trends driving growth in sugar free gum.
Continued high levels of innovation focusing on premiumisation, convenience and health and wellness helped drive value sales growth within packaged food in 2018. Increasing levels of penetration by private label meant that innovation was a necessity from established mainstream brands in order to maintain and grow their shares.
One of the most notable events in packaged food in 2018 was the rollout of new private label products from both Progressive Enterprises and Foodstuffs (NZ). Progressive Enterprises consolidated its Select and Signature Range lines into the Countdown range, positioned at mid-price points, while it replaced its Homebrand economy products with the new Essentials line.
Distribution in packaged food remained an effective duopoly in New Zealand in 2018, held by Progressive Enterprises and Foodstuffs (NZ). Both companies employed competitive pricing strategies to drive consumer foot traffic through stores, focusing on increasing volume sales as a way to drive value sales growth.
While high levels of innovation in packaged food, both from manufacturers and retailers, have set up a framework for continued value growth over the forecast period, increasing levels of economic uncertainty following on from the election of the new Labour government in late 2018 mean the forecast performance is uncertain, owing to uncertainty surrounding the economic performance forecasts of the country in the short term. While this is likely to still lead to positive value growth over the entire forecast period, this may be more subdued during the early stages.
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This industry report originates from Passport, our Packaged Food market research database.