New Zealand: Fructose Market 2024

Fructose Market Size in New Zealand

The New Zealand fructose market dropped notably to $X in 2021, reducing by -43.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, saw a prominent increase. As a result, consumption reached the peak level of $X, and then contracted sharply in the following year.

Fructose Exports

Exports from New Zealand

In 2021, the amount of fructose and fructose syrup exported from New Zealand skyrocketed to X tons, picking up by 364% on 2020. Overall, exports posted a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, fructose exports soared to $X in 2021. In general, exports continue to indicate a prominent expansion. 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 fructose exports from New Zealand, with a 52% share of total exports. Moreover, fructose exports to Australia exceeded the volume sent to the second major destination, the UK (X tons), fivefold. The third position in this ranking was taken by Singapore (X tons), with a 6.3% share.

From 2012 to 2021, the average annual growth rate of volume to Australia totaled +9.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+68.0% per year) and Singapore (+20.6% per year).

In value terms, Australia ($X) remains the key foreign market for fructose and fructose syrup exports from New Zealand, comprising 52% of total exports. The second position in the ranking was taken by the UK ($X), with an 11% share of total exports. It was followed by Singapore, with a 7.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Australia stood at +11.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+67.1% per year) and Singapore (+25.7% per year).

Export Prices by Country

In 2021, the average fructose export price amounted to $X per ton, declining by -3.4% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 52% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to New Caledonia ($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 the United States (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.

Fructose Imports

Imports into New Zealand

In 2021, approx. X tons of fructose and fructose syrup were imported into New Zealand; which is down by -32.4% against the previous year's figure. In general, imports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2016 with an increase of 51% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020, and then reduced notably in the following year.

In value terms, fructose imports shrank sharply to $X in 2021. Over the period under review, imports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2020 with an increase of 62% against the previous year. As a result, imports reached the peak of $X, and then contracted notably in the following year.

Imports by Country

In 2021, China (X tons) constituted the largest fructose supplier to New Zealand, accounting for a 31% share of total imports. Moreover, fructose imports from China exceeded the figures recorded by the second-largest supplier, Australia (X tons), twofold. The UK (X tons) ranked third in terms of total imports with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +12.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+19.2% per year) and the UK (+71.9% per year).

In value terms, the largest fructose suppliers to New Zealand were the Netherlands ($X), Australia ($X) and China ($X), with a combined 53% share of total imports. These countries were followed by the UK, South Korea, Belgium, the United States, Malaysia, Indonesia, Thailand, Israel, Pakistan and Germany, which together accounted for a further 39%.

The UK, with a CAGR of +71.4%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average fructose import price stood at $X per ton in 2021, shrinking by -5.3% against the previous year. In general, import price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fructose import price increased by +62.1% against 2017 indices. The pace of growth appeared the most rapid in 2019 when the average import price increased by 26%. The import price peaked at $X per ton in 2020, and then declined in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :