New Zealanders are currently facing significant cost of living pressures, with rising interest rates and high inflation significantly impacting consumer spending. Inflation rates reached 7% in mid-2022 and are expected to remain persistently high into 2023 before easing off.
While high inflation levels and cost of living pressures have been a key point of discussion across all food and nutrition categories in New Zealand, the strong performance of brands such as Pics and Fix & Fogg indicate that strong opportunities still exist for premium offerings within nut and seed based spreads. The strong innovation and product development that has come to characterise the business strategies of both brands is expected to continue over the forecast period, with a focus expected to be on non-peanut based products such as almond butter and walnut butter.
Conscious consumerism is a trend which has begun to influence nearly all grocery categories in New Zealand and while this had not been overtly evident within sweet spreads in 2022, it is likely to become more prominent over the forecast period. A key concern of many New Zealanders is the amount of plastic waste that their consumption generates, with categories such as sweet spreads contributing to this.
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Understand the latest market trends and future growth opportunities for the Sweet Spreads industry in New Zealand with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Excludes: Any products sold unpackaged or in bulk; margarine, butter substitutes, vegetable-oil based, yeast-based, and meat/seafood-based spreads.See All of Our Definitions
This report originates from Passport, our Sweet Spreads research and analysis database.
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