New Zealand: Biological Product Market 2024

Biological Product Market Size in New Zealand

For the third consecutive year, the New Zealand biological product market recorded growth in sales value, which increased by X% to $X in 2022. In general, consumption posted a prominent expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Biological Product Production in New Zealand

In value terms, biological product production stood at $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Biological Product Exports

Exports from New Zealand

In 2022, biological product exports from New Zealand dropped significantly to X tons, which is down by X% against 2021 figures. In general, exports saw a deep downturn. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, biological product exports dropped markedly to $X in 2022. Over the period under review, exports, however, continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. The exports peaked at $X in 2021, and then shrank dramatically in the following year.

Exports by Country

China (X tons) was the main destination for biological product exports from New Zealand, accounting for a X% share of total exports. Moreover, biological product exports to China exceeded the volume sent to the second major destination, Switzerland (X tons), sevenfold. Cook Islands (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (X% per year) and Cook Islands (X% per year).

In value terms, the largest markets for biological product exported from New Zealand were China ($X), Australia ($X) and the United States ($X), with a combined X% share of total exports. Germany, Japan, Switzerland, South Korea and Cook Islands lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Switzerland, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average biological product export price amounted to $X per kg, declining by X% against the previous year. In general, the export price, however, saw a resilient increase. The pace of growth appeared the most rapid in 2015 an increase of X%. The export price peaked at $X per kg in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per kg), while the average price for exports to Cook Islands ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Biological Product Imports

Imports into New Zealand

In 2022, the amount of biological products imported into New Zealand soared to X tons, rising by X% compared with the previous year. Over the period under review, imports saw a strong increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, biological product imports contracted markedly to $X in 2022. Overall, imports saw a remarkable increase. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports attained the peak of $X, and then declined significantly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest biological product supplier to New Zealand, with a X% share of total imports. Moreover, biological product imports from China exceeded the figures recorded by the second-largest supplier, Switzerland (X tons), more than tenfold. South Korea (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (X% per year) and South Korea (X% per year).

In value terms, China ($X), the United States ($X) and Germany ($X) were the largest biological product suppliers to New Zealand, together comprising X% of total imports. Australia, South Korea, Switzerland, Belgium and the Netherlands lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, South Korea, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average biological product import price amounted to $X per kg, declining by X% against the previous year. Overall, the import price showed a mild descent. The most prominent rate of growth was recorded in 2014 an increase of X%. Over the period under review, average import prices hit record highs at $X per kg in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per kg), while the price for China ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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