New Zealand: Chocolate And Confectionery Market 2024

Chocolate And Confectionery Market Size in New Zealand

The New Zealand chocolate and confectionery market dropped sharply to $X in 2022, shrinking by -20.3% against the previous year. Overall, consumption showed a noticeable downturn. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Chocolate And Confectionery Production in New Zealand

In value terms, chocolate and confectionery production reduced to $X in 2022 estimated in export price. Over the period under review, production showed a abrupt decline. The most prominent rate of growth was recorded in 2013 when the production volume increased by 27% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Chocolate And Confectionery Exports

Exports from New Zealand

In 2022, overseas shipments of chocolate and confectionery increased by 68% to X tons, rising for the third consecutive year after two years of decline. In general, exports showed noticeable growth. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, chocolate and confectionery exports surged to $X in 2022. Overall, exports enjoyed a prominent increase. 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 and confectionery exports from New Zealand, accounting for a 83% share of total exports. It was followed by Fiji (X tons), with a 2.2% share of total exports. Canada (X tons) ranked third in terms of total exports with a 2.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Australia stood at +2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Fiji (+17.7% per year) and Canada (+34.6% per year).

In value terms, Australia ($X) remains the key foreign market for chocolate and confectionery exports from New Zealand, comprising 79% of total exports. The second position in the ranking was taken by the United States ($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 growth rate of value to Australia amounted to +4.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+33.3% per year) and Canada (+45.2% per year).

Export Prices by Country

In 2022, the average chocolate and confectionery export price amounted to $X per ton, increasing by 26% against the previous year. Over the last decade, it increased at an average annual rate of +3.3%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export 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 (+9.8%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate And Confectionery Imports

Imports into New Zealand

In 2022, overseas purchases of chocolate and confectionery decreased by -4.5% to X tons, falling for the second year in a row after two years of growth. In general, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when imports increased by 6.1% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, chocolate and confectionery imports declined to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 11%. As a result, imports attained the peak of $X, and then fell modestly in the following year.

Imports by Country

In 2022, Australia (X tons) constituted the largest chocolate and confectionery supplier to New Zealand, with a 55% share of total imports. Moreover, chocolate and confectionery imports from Australia exceeded the figures recorded by the second-largest supplier, Singapore (X tons), ninefold. The third position in this ranking was held by China (X tons), with a 5.7% share.

From 2012 to 2022, the average annual growth rate of volume from Australia totaled -2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-7.5% per year) and China (+20.5% per year).

In value terms, Australia ($X) constituted the largest supplier of chocolate and confectionery to New Zealand, comprising 51% of total imports. The second position in the ranking was held by Italy ($X), with a 6.2% share of total imports. It was followed by China, with a 5.5% 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 (+21.3% per year).

Import Prices by Country

In 2022, the average chocolate and confectionery import price amounted to $X per ton, remaining constant against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The growth pace was the most rapid in 2021 an increase of 14% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Indonesia ($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 (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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