New Zealand: Chocolate Market 2024

Chocolate Market Size in New Zealand

The New Zealand chocolate market dropped remarkably to $X in 2022, with a decrease of -23.2% against the previous year. Over the period under review, the total consumption indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -28.9% against 2018 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Chocolate Production in New Zealand

In value terms, chocolate production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, saw a strong increase. The pace of growth was the most pronounced in 2014 with an increase of 385%. Chocolate production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Chocolate Exports

Exports from New Zealand

In 2022, shipments abroad of chocolate and cocoa products increased by 69% to X tons, rising for the third year in a row after two years of decline. Over the period under review, exports saw tangible growth. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, chocolate exports skyrocketed to $X in 2022. In general, exports continue to indicate prominent growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Australia (X tons) was the main destination for chocolate exports from New Zealand, with a 83% share of total exports. It was followed by Canada (X tons), with a 2.2% share of total exports. The third position in this ranking was held by the United States (X tons), with a 2.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Australia totaled +2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+34.6% per year) and the United States (+32.0% per year).

In value terms, Australia ($X) remains the key foreign market for chocolate and cocoa products exports from New Zealand, comprising 79% of total exports. The second position in the ranking was held by the United States ($X), with a 3.2% share of total exports. It was followed by Canada, with a 2.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Australia stood at +4.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+33.8% per year) and Canada (+45.2% per year).

Export Prices by Country

The average chocolate export price stood at $X per ton in 2022, growing by 26% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.3%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Fiji ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+9.9%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into New Zealand

In 2022, purchases abroad of chocolate and cocoa products decreased by -0.9% to X tons, falling for the third consecutive year after four years of growth. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 7.5% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, chocolate imports reduced to $X in 2022. The total import value increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 14% against the previous year. As a result, imports reached the peak of $X, leveling off in the following year.

Imports by Country

In 2022, Australia (X tons) constituted the largest supplier of chocolate to New Zealand, with a 64% share of total imports. Moreover, chocolate imports from Australia exceeded the figures recorded by the second-largest supplier, China (X tons), tenfold. Italy (X tons) ranked third in terms of total imports with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Australia totaled -1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+22.0% per year) and Italy (+25.1% per year).

In value terms, Australia ($X) constituted the largest supplier of chocolate and cocoa products to New Zealand, comprising 57% of total imports. The second position in the ranking was held by Italy ($X), with a 6.9% share of total imports. It was followed by China, with a 6% share.

From 2012 to 2022, the average annual growth rate of value from Australia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+23.6% per year) and China (+22.7% per year).

Import Prices by Country

In 2022, the average chocolate import price amounted to $X per ton, remaining stable against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. The growth pace was the most rapid in 2021 when the average import price increased by 17%. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+6.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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