Cooking ingredients and meals in 2024: The big picture
In 2024, New Zealand faced ongoing economic challenges, including high inflation rates and a technical recession that significantly impacted consumer budgets. Retail current value sales growth remained strong, primarily driven by broader inflationary pressures.
Key trends in 2024
Home cooking became a key trend in 2024, positively impacting cooking ingredients and meals. As consumers looked to reduce dining out to save costs, many wanted to replicate the foodservice experience from the household, investing in new flavours and interesting flavours.
Competitive landscape
With a wide variety of options and diversity on offer in cooking ingredients and meals, the competitive landscape remained fragmented in 2024. With strong loyalty, Heinz Wattie's Ltd continued to lead, despite cost-of-living pressures encouraging some consumers to trade down to private labels.
Channel developments
New Zealand has solid and well-developed modern channel coverage, with Foodstuff North Island and South Island and Woolworths, accounting for almost the entire supermarket landscape. Consumers tend to be loyal to a brand of store, with the relatively small population in New Zealand limiting growth potential in the channel.
What next for cooking ingredients and meals?
Across 2025, consumers are set to continue showcasing cautious behaviour, with macroeconomic conditions set to reach more stable levels at the end of that year. As such, confidence levels are expected to remain relatively low in the early part of the forecast period, with consumers continuing to be mindful of their spending habits.
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Overview:
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.
If you're in the Cooking Ingredients and Meals industry in New Zealand, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Cooking Ingredients and Meals in New Zealand report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Cooking Ingredients and Meals in New Zealand?
- Which are the leading brands in Cooking Ingredients and Meals in New Zealand?
- How are products distributed in Cooking Ingredients and Meals in New Zealand?
- How is the rise of e-commerce and/or the expansion of modern grocery retail impacting traditional retail?
- What are the key health and wellness concerns driving, or challenging, sales in Cooking Ingredients and Meals?
- How significant are vegan and vegetarian dietary requirements in determining sales growth in New Zealand?
- How has COVID-19 impacted consumer demand? To what extent have lockdown, home seclusion and stockpiling boosted sales? Will the longer term economic repercussions of the pandemic stimulate or suppress future growth?
- Where is future growth expected to be most dynamic?
- How significant will values-based claims, such as sustainability and ethical labelling, be in supporting future growth and brand equity?
Cooking Ingredients and Meals in New Zealand
Cooking ingredients and meals in 2024: The big picture
Key trends in 2024
Competitive landscape
Channel developments
What next for cooking ingredients and meals?
DISCLAIMER
Edible Oils in New Zealand
KEY DATA FINDINGS
The shortage of olive oil leads consumers to look for suitable alternatives
A rise in private label products as consumers look for affordable essentials
Brands offer a variety of pack sizes to appeal to cost-saving consumers
Brands focus on marketing olive oil substitutes, with a focus on local production
Players are set to highlight health benefits to enhance consumer awareness
Olive oil blends present an opportunity for innovation and growth
Meals and Soups in New Zealand
KEY DATA FINDINGS
Affordable convenience remains highly attractive for busy consumers
The home cooking trends drives the rise of fake-aways in New Zealand
Despite rising prices, health and wellness remains a key priority
Variety and exploration in flavours is key for forecast innovation
Emphasis on local sourcing and specific dietary requirements boosts sales
Health, nutrition and functional benefits will drive new launches over the forecast period
Sauces, Dips and Condiments in New Zealand
KEY DATA FINDINGS
The rise of cooking at home boosts sales of sauces, herbs and spices
Affordability and multiple pack sizes appeal to consumers managing their budgets
Health and wellness remains a key driver of innovation and sales
Traditional products have strong brand loyalty, however, space for innovation remains
The rising Asian demographic creates solid opportunities for flavour innovation
Innovation will focus on balancing interesting flavours with nutritional benefits
Sweet Spreads in New Zealand
KEY DATA FINDINGS
The rise in health awareness drives ongoing sales of honey in 2024
Collaboration leads to premiumisation on the sweet spreads landscape
Nutrition and natural ingredients lead nut and seed-based spreads to lead sales
Innovation in sweet spreads is set to align with dietary trends and habits
Nut and seed based spreads is the most dynamic performer over the forecast period
As consumer confidence grows, brands focus innovations on functional ingredients
The following categories and subcategories are included:
Cooking Ingredients and Meals
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- Olive Oil
- Corn Oil
- Palm Oil
- Rapeseed Oil
- Soy Oil
- Sunflower Oil
- Other Edible Oil
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- Dried Ready Meals
- Shelf Stable Ready Meals
- Chilled Ready Meals
- Frozen Ready Meals
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- Dry Soup
- Shelf Stable Soup
- Chilled Soup
- Frozen Soup
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- Chilled Pizza
- Frozen Pizza
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- Meal Kits
- Quick Recipe Kits
- Chilled Lunch Kits
- Prepared Salads
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- Liquid Stocks and Fonds
- Stock Cubes and Powders
- Gravy Cubes, Powders and Pots
- Monosodium Glutamate
- Herbs and Spices
- Tomato Pastes and Purées
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- Liquid Recipe Sauces (excl pasta sauces)
- Dry Recipe Sauces
- Pasta Sauces
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- Barbecue Sauces
- Fish Sauces
- Ketchup
- Mayonnaise
- Mustard
- Oyster Sauces
- Salad Dressings
- Soy Sauces
- Chili Sauces
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- Dips
- Yeast-based Spreads
- Pickled Products
- Other Sauces and Condiments
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- Honey
- Chocolate Spreads
- Jams and Preserves
- Nut and Seed Based Spreads
Why buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Cooking Ingredients and Meals research and analysis database.
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