Confectionery in New Zealand, 2020 - Top Growth Opportunities

Confectionery in New Zealand, 2020 - Top Growth Opportunities

Summary

Top Growth Opportunities for Confectionery in New Zealand provides an overview of the Confectionery market, analyzing market data, demographic consumption patterns within the category, and the key consumer trends driving consumption. GlobalData’s proprietary Risk vs Reward Opportunity model pinpoints the best growth opportunities for Confectionery producers, suppliers and retailers by combining robust, granular data and expert insight. The report uses this framework to identify the best opportunities, analyze white spaces in the market, and outline new product development that will effectively target the most pertinent consumer need states. These are combined to offer strategic recommendations to capitalize on evolving consumer landscapes.

New Zealand is one of the smallest confectionery markets in the top 10 in absolute value terms, but it is also expected to show substantial growth over 2019-2024. During 2014-2019, the confectionery market in New Zealand recorded modest growth.

Scope

- Among the top ten high potential countries, New Zealand’s confectionery sector ranked second on the GlobalData Opportunity Score and was valued at US$687.2 million in 2019
- New Zealand's confectionery sector is poised to register value growth at a CAGR of 5.3% over the 2019-2024 period, supported by solid GDP growth and a fast response to the COVID-19 pandemic.
- Furthermore, declining unemployment levels, increasing consumer expenditure, and growth in private investments are expected to boost sales in New Zealand’s consumer sector. However, an aging population and the widening income inequality keeps New Zealand's economy in an uncertain position

Reasons to Buy

- This report brings together consumer analysis and market data to provide actionable insight into the behavior of New Zealand's Confectionery consumers.
- This is based on GlobalData's unique consumer data, developed from extensive consumption surveys and consumer group tracking, which quantifies the influence of 20 consumption motivations in the Confectionery sector.
- Category, brand, and packaging dynamics are also examined. This allows product and marketing strategies to be better aligned with the leading trends in the market.