New Zealand: Canned Food Market 2024

Canned Food Market Size in New Zealand

In 2021, the New Zealand canned food market decreased by -20.6% to $X, falling for the second consecutive year after five years of growth. In general, consumption, however, continues to indicate measured growth. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Canned Food Production in New Zealand

In value terms, canned food production expanded to $X in 2021 estimated in export price. Over the period under review, production showed a strong expansion. The growth pace was the most rapid in 2016 when the production volume increased by 61% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Canned Food Exports

Exports from New Zealand

In 2021, exports of canned food from New Zealand skyrocketed to X tons, with an increase of 43% against the previous year. Over the period under review, total exports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +8.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, canned food exports skyrocketed to $X in 2021. In general, exports enjoyed a strong expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Australia (X tons), China (X tons) and Hong Kong SAR (X tons) were the main destinations of canned food exports from New Zealand, together accounting for 84% of total exports. These countries were followed by Thailand, the United States, Japan, Taiwan (Chinese) and South Korea, which together accounted for a further 7.7%.

From 2012 to 2020, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand (with a CAGR of +27.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for canned food exported from New Zealand were China ($X), Australia ($X) and Hong Kong SAR ($X), together comprising 86% of total exports.

Among the main countries of destination, China, with a CAGR of +30.4%, recorded 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

The average canned food export price stood at $X per ton in 2020, with an increase of 18% against the previous year. Overall, the export price showed resilient growth. The pace of growth appeared the most rapid in 2016 when the average export price increased by 28%. The export price peaked in 2020 and is expected to retain growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Australia ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+11.5%), while the prices for the other major destinations experienced more modest paces of growth.

Canned Food Imports

Imports into New Zealand

Canned food imports into New Zealand rose slightly to X tons in 2021, surging by 4.6% against the previous year's figure. Over the period under review, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when imports increased by 20%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, canned food imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.2% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 when imports increased by 19% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2020, Italy (X tons) constituted the largest canned food supplier to New Zealand, with a 37% share of total imports. Moreover, canned food imports from Italy exceeded the figures recorded by the second-largest supplier, Australia (X tons), twofold. Thailand (X tons) ranked third in terms of total imports with a 6.6% share.

From 2012 to 2020, the average annual rate of growth in terms of volume from Italy totaled +3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (-5.0% per year) and Thailand (-8.2% per year).

In value terms, the largest canned food suppliers to New Zealand were Australia ($X), Italy ($X) and Malaysia ($X), with a combined 48% share of total imports.

Malaysia, with a CAGR of +49.3%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2020, the average canned food import price amounted to $X per ton, with an increase of 6.1% against the previous year. Over the period from 2012 to 2020, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2015 when the average import price increased by 14% against the previous year. Over the period under review, average import prices attained the maximum in 2020 and is expected to retain growth in years to come.

Prices varied noticeably country of origin: the country with the highest price was Malaysia ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Malaysia (+9.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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