While New Zealand appears to have reached peak meat consumption, a more conscious kind of meat eater is on the rise in New Zealand. The trend of “reducetarianism” was already on the rise before the COVID-10 pandemic, with New Zealanders acutely aware of the environmental impact of their meat consumption, owing to the fact that the meat and dairy industry is New Zealand’s largest greenhouse gas emitter.
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 driver of this trend 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.
The COVID-19 pandemic, related trading restrictions and border closures decimated the local hospitality and foodservice industry during the second half of the review period. New Zealand’s cautious approach to re-opening, combined with its major tourist source market, China, continuing to persevere with an elimination strategy, mean that foodservice sales have yet to return to pre-COVID-19 levels, however they are expected to do so during the early stages of the forecast period.
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Processed Meat, Seafood and Alternatives to Meat
This is the aggregation of processed meat, processed seafood and meat and seafood substitutes.See All of Our Definitions
This report originates from Passport, our Processed Meat, Seafood and Alternatives to Meat research and analysis database.
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