New Zealand: Dairy Spread Market 2024

Dairy Spread Market Size in New Zealand

The New Zealand dairy spread market shrank dramatically to $X in 2022, which is down by -26.6% against the previous year. In general, consumption recorded a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Dairy Spread Production in New Zealand

In value terms, dairy spread production reduced to $X in 2022 estimated in export price. In general, the total production indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +8.0% against 2020 indices. The pace of growth appeared the most rapid in 2018 when the production volume increased by 39%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Dairy Spread Exports

Exports from New Zealand

In 2022, overseas shipments of dairy spreads increased by 157% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports posted a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, dairy spread exports soared to $X in 2022. In general, exports enjoyed a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

South Korea (X tons) was the main destination for dairy spread exports from New Zealand, accounting for a 88% share of total exports. Moreover, dairy spread exports to South Korea exceeded the volume sent to the second major destination, Georgia (X tons), ninefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to South Korea totaled +18.2%.

In value terms, South Korea ($X) remains the key foreign market for dairy spreads exports from New Zealand, comprising 87% of total exports. The second position in the ranking was held by Georgia ($X), with an 11% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to South Korea stood at +25.6%.

Export Prices by Country

In 2022, the average dairy spread export price amounted to $X per ton, rising by 34% against the previous year. Over the period under review, export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when the average export price increased by 49% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Georgia ($X per ton), while the average price for exports to South Korea stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Azerbaijan (+6.3%), while the prices for the other major destinations experienced more modest paces of growth.

Dairy Spread Imports

Imports into New Zealand

After two years of decline, overseas purchases of dairy spreads increased by 715% to X tons in 2022. Over the period under review, imports saw a tangible expansion. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, dairy spread imports skyrocketed to $X in 2022. Overall, imports enjoyed a resilient increase. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Australia (X tons) constituted the largest supplier of dairy spread to New Zealand, accounting for a 66% share of total imports. Moreover, dairy spread imports from Australia exceeded the figures recorded by the second-largest supplier, Denmark (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume from Australia totaled -4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (0.0% per year) and the Philippines (-8.3% per year).

In value terms, the largest dairy spread suppliers to New Zealand were Australia ($X), Denmark ($X) and the Philippines ($X), with a combined 97% share of total imports.

Australia, with a CAGR of +6.1%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average dairy spread import price stood at $X per ton in 2022, with an increase of 25% against the previous year. In general, the import price recorded a buoyant increase. The most prominent rate of growth was recorded in 2014 an increase of 83%. Over the period under review, average import prices reached the maximum at $X per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+23.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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