Strong value sales growth over 2022 and 2023 has been fuelled by rampant inflation in the aftermath of the pandemic. With international and domestic supply chains severely disrupted as demand returned at pace following the removal of movement and travel restrictions, a consequence of this has been higher costs for both producers and distributors alike, which have been passed on to consumers.
The high rates of inflation that emerged over the review period have yet to subside in New Zealand, but growth has at least stabilised with the official inflation rate holding at 6.7% in March 2023 (as opposed to the Reserve Bank’s target level of between 1-3%).
New Zealand officially entered a recession in mid-2023 as cost-of-living pressures driven by elevated inflation stifled aggregate demand and consumer spending, with many companies also having begun downsizing to create further pressure on discretionary spending. This is expected to impact consumer spending in foodservice over the initial stages of the forecast period, with consumers going out for meals less frequently and instead dining at home.
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Understand the latest market trends and future growth opportunities for the Rice, Pasta and Noodles 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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Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
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Rice, Pasta and Noodles
This is the aggregation of rice, noodles and pasta. Includes: Pre-packaged noodles. Excludes: Any noodles, pasta or rice bought loose, bulk and/or unpackaged. Excludes: Any noodle-based ready meals, which would be tracked under ready meals.
See All of Our DefinitionsThis report originates from Passport, our Rice, Pasta and Noodles research and analysis database.
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