New Zealand: Concentrated Grapefruit Juice Market 2022

Concentrated Grapefruit Juice Market Size in New Zealand

In 2021, after two years of decline, there was significant growth in the New Zealand concentrated grapefruit juice market, when its value increased by 42% to $X. Over the period under review, consumption saw a buoyant increase. Over the period under review, the market attained the maximum level in 2021 and is expected to retain growth in years to come.

Concentrated Grapefruit Juice Exports

Exports from New Zealand

In 2021, overseas shipments of concentrated grapefruit juice were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports, however, continue to indicate a sharp reduction. The growth pace was the most rapid in 2017 when exports increased by 4,372% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, concentrated grapefruit juice exports shrank notably to $X in 2021. Overall, exports, however, continue to indicate a sharp decline. The most prominent rate of growth was recorded in 2017 when exports increased by 9,172% against the previous year. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Japan (X kg), Norfolk Island (X kg) and Cook Islands (X kg) were the main destinations of concentrated grapefruit juice exports from New Zealand, together accounting for 75% of total exports.

From 2012 to 2021, the biggest increases were in Norfolk Island (with a CAGR of +57.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Norfolk Island ($X) and Cook Islands ($X) appeared to be the largest markets for concentrated grapefruit juice exported from New Zealand worldwide, with a combined 77% share of total exports.

Norfolk Island, with a CAGR of +59.3%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average concentrated grapefruit juice export price stood at $X per ton in 2021, waning by -37.3% against the previous year. In general, the export price, however, saw temperate growth. The pace of growth appeared the most rapid in 2020 an increase of 563%. As a result, the export price reached the peak level of $X per ton, and then dropped significantly in the following year.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Japan ($X per ton), while the average price for exports to Fiji ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+16.5%), while the prices for the other major destinations experienced more modest paces of growth.

Concentrated Grapefruit Juice Imports

Imports into New Zealand

Concentrated grapefruit juice imports into New Zealand soared to X tons in 2021, with an increase of 23% on the previous year. Over the period under review, imports continue to indicate a tangible expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 78% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, concentrated grapefruit juice imports surged to $X in 2021. In general, imports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2015 with an increase of 114%. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Mexico (X tons), Australia (X tons) and South Africa (X tons) were the main suppliers of concentrated grapefruit juice imports to New Zealand, with a combined 67% share of total imports. Israel, Italy, Germany, Malaysia and the United States lagged somewhat behind, together comprising a further 31%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +41.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Australia ($X) and South Africa ($X) constituted the largest concentrated grapefruit juice suppliers to New Zealand, together accounting for 64% of total imports. These countries were followed by Israel, Italy, Malaysia, Germany and the United States, which together accounted for a further 33%.

In terms of the main suppliers, Malaysia, with a CAGR of +68.0%, 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 concentrated grapefruit juice import price stood at $X per ton in 2021, with an increase of 31% against the previous year. Over the period under review, import price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, concentrated grapefruit juice import price decreased by -32.3% against 2019 indices. The most prominent rate of growth was recorded in 2015 an increase of 52% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+22.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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