PROSPECTS AND OPPORTUNITIES
Innovation in sweet spreads is set to align with dietary trends and habits
Dietary habits will continue to change across the forecast period, with brands adapting to align with consumer demands. According to the Euromonitor 2024 Consumer Lifestyles Survey for New Zealand, 49% of respondents actively seek healthy ingredients in food and beverages, while 31% pay close attention to nutrition labels.
Nut and seed based spreads is the most dynamic performer over the forecast period
Driven by health trends in New Zealand, nut and seed based spreads, including peanut butter, is predicted to record the highest sales over the forecast period. While high inflation levels and cost-of-living pressures impacted food sales, and private label grew over the review period, the ongoing strong performance of leading brands such as Pics (Picot Productions Ltd) and Fix & Fogg indicate that strong opportunities still exist for premium offerings within nut and seed based spreads.
As consumer confidence grows, brands focus innovations on functional ingredients
As the economic situation stabilises across the longer-term forecast period, consumers will likely regain confidence in their spending. This will benefit health products that provide clear advantages in terms of vitamins, superfoods, or probiotics.
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Overview:
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.
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 Sweet Spreads 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 Sweet Spreads 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 Sweet Spreads in New Zealand?
- Which are the leading brands in Sweet Spreads in New Zealand?
- How are products distributed in Sweet Spreads 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 Sweet Spreads?
- 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?
Sweet Spreads in New Zealand - Category analysis
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
Cooking Ingredients and Meals in New Zealand - Industry Overview
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
Sweet Spreads
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 definitionsWhy buy this report?
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- 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 Sweet Spreads research and analysis database.
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