Processed meat and seafood is set to record a more dynamic performance in 2020 compared to the previous year, with a particularly notable upturn in demand for shelf stable and frozen varieties, being driven by a certain level of panic-buying period at the beginning of the lockdown in New Zealand, as consumers rushed to stockpile for their pantries. Foodservice closures, lockdown restrictions, home seclusion and social distancing were therefore all instrumental in significantly changing consumer lifestyles during this period.
While remaining a small category in overall processed meat and seafood, meat substitutes is set to continue to experience strong retail volume growth in 2020 and beyond the pandemic as local consumers are increasingly opting for plant-based products as they switch to flexitarian lifestyles and plant-based diets in line with growing health trends and interest in a more sustainable future. Manufacturers and retailers are therefore responding to the rising consumer demand for clean eating and the reduction of frequent meat consumption with a wide array of plant-based options.
Heller Tasty Ltd is set to maintain its overall leadership of processed meat and seafood in 2020 due to its dominance of the largest value category of chilled processed meat, with a widescale presence across chilled processed red meat and chilled processed poultry. However, with increasing pressure from dominant meat substitutes player Life Health Foods and its Vegie Delights and Bean Supreme brands, which continued to gain share towards the end of the review period, Heller Tasty has attempted to respond to the growing plant-based wellness movement in New Zealand by initially releasing its Flexitari-Yum range in early 2019 with a healthier option for consumers.
Processed meat and seafood experienced significant increases in demand early in 2020 as local consumers stockpiled due to panic-induced buying. However, as lockdown restrictions continue to ease, consumers have stopped stockpiling as availability and accessibility are no longer an issue.
Consumers in New Zealand are growing increasingly supportive of local businesses and products, placing a stronger emphasis on locally-produced and manufactured goods, and thereby reducing their ecological footprint. Consumer demand for provenance continues to rise as information behind sourcing and manufacturing is becoming increasingly important in their quest to gain greater information about what they consume, be it meat or plant-based alternatives.
New Zealand has experienced a significant change in lifestyles as local consumers chose to shop online during strict lockdown restrictions over safety concerns as they practiced social distancing. This supported e-commerce’s further penetration of the distribution landscape, with this trend likely to gain further traction in New Zealand post- pandemic as it provides time-poor consumers with a convenient solution by placing online orders from the comfort of their homes.
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Understand the latest market trends and future growth opportunities for the Processed Meat and Seafood 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.
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This report originates from Passport, our Processed Meat and Seafood research and analysis database.
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