The high rates of inflation that emerged towards the end of the review period have yet to subside in 2023. However, growth has at least stabilised with the official inflation rate holding at 6.
Strong value sales growth witnessed in 2022 and 2023 was 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 was higher costs for both producers and distributors alike, which were passed on to consumers.
Driven by health trends in New Zealand, nut and seed based spreads, including peanut butter, is predicted to record the highest retail volume growth over the forecast period. 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, and despite the solid presence of private label, the 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 over the forecast period.
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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.
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.
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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 DefinitionsThis report originates from Passport, our Sweet Spreads research and analysis database.
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