New Zealand: Chocolate Market 2024

Chocolate Market Size in New Zealand

The New Zealand chocolate market expanded notably to $X in 2022, growing by 7.5% against the previous year. In general, consumption saw resilient growth. Chocolate consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Chocolate Production in New Zealand

In value terms, chocolate production expanded sharply to $X in 2022 estimated in export price. Overall, production posted resilient growth. The growth pace was the most rapid in 2013 with an increase of 73% against the previous year. Chocolate production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Chocolate Exports

Exports from New Zealand

Chocolate exports from New Zealand dropped sharply to X tons in 2022, shrinking by -74.5% on 2021. Over the period under review, exports continue to indicate a sharp decline. The most prominent rate of growth was recorded in 2021 when exports increased by 159% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, chocolate exports shrank significantly to $X in 2022. In general, exports showed a dramatic downturn. The growth pace was the most rapid in 2021 with an increase of 75% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Australia (X tons), Fiji (X tons) and the United States (X tons) were the main destinations of chocolate exports from New Zealand, with a combined 76% share of total exports. Cook Islands, Samoa, Vanuatu and Singapore lagged somewhat behind, together accounting for a further 21%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vanuatu (with a CAGR of +75.1%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Fiji ($X) and Cook Islands ($X) were the largest markets for chocolate exported from New Zealand worldwide, with a combined 79% share of total exports.

Among the main countries of destination, Cook Islands, with a CAGR of +60.8%, 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

The average chocolate export price stood at $X per ton in 2022, rising by 32% against the previous year. Over the period under review, export price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, chocolate export price decreased by -10.9% against 2020 indices. The pace of growth appeared the most rapid in 2019 an increase of 103% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Cook Islands ($X per ton), while the average price for exports to Australia ($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 the United States (+7.4%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into New Zealand

For the sixth consecutive year, New Zealand recorded decline in purchases abroad of chocolate and other food preparations containing cocoa, which decreased by -28.5% to X tons in 2022. Over the period under review, imports faced a abrupt decrease. The pace of growth was the most pronounced in 2016 with an increase of 5.1% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, chocolate imports fell markedly to $X in 2022. In general, imports saw a abrupt decrease. The most prominent rate of growth was recorded in 2016 with an increase of 10%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Singapore (X tons) constituted the largest supplier of chocolate to New Zealand, with a 46% share of total imports. Moreover, chocolate imports from Singapore exceeded the figures recorded by the second-largest supplier, Belgium (X tons), twofold. The third position in this ranking was taken by Australia (X tons), with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Singapore amounted to -7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+31.1% per year) and Australia (-23.8% per year).

In value terms, Singapore ($X), Belgium ($X) and Australia ($X) constituted the largest chocolate suppliers to New Zealand, with a combined 81% share of total imports.

Among the main suppliers, Belgium, with a CAGR of +31.2%, 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

The average chocolate import price stood at $X per ton in 2022, approximately mirroring the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. The pace of growth was the most pronounced in 2021 when the average import price increased by 16%. As a result, import price attained the peak level of $X per ton, leveling off in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Sweden ($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 (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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