New Zealand: Hop Market 2024

Hop Market Size in New Zealand

The New Zealand hop market declined remarkably to $X in 2022, dropping by -39.6% against the previous year. Over the period under review, consumption continues to indicate a pronounced descent. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Hop Production in New Zealand

In value terms, hop production expanded modestly to $X in 2022 estimated in export price. In general, the total production indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.0% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of 32% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

In 2022, the average hop yield in New Zealand stood at X tons per ha, stabilizing at 2021. In general, the yield saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 3.7% against the previous year. As a result, the yield attained the peak level of X tons per ha; afterwards, it flattened through to 2022. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of hops production in New Zealand totaled X ha, approximately reflecting the previous year's figure. In general, the harvested area continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 3% against the previous year. The hop harvested area peaked at X ha in 2017; however, from 2018 to 2022, the harvested area failed to regain momentum.

Hop Exports

Exports from New Zealand

In 2022, the amount of hops exported from New Zealand surged to X tons, increasing by 52% against the previous year. Over the period under review, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 2,907%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, hop exports skyrocketed to $X in 2022. Overall, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 3,145%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for hop exports from New Zealand, accounting for a 71% share of total exports. Moreover, hop exports to the United States exceeded the volume sent to the second major destination, Australia (X tons), ninefold. The third position in this ranking was held by the UK (X tons), with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +37.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+21.8% per year) and the UK (+31.5% per year).

In value terms, the United States ($X) remains the key foreign market for hops exports from New Zealand, comprising 71% of total exports. The second position in the ranking was taken by Australia ($X), with a 7.3% share of total exports. It was followed by the UK, with a 6.9% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +43.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+27.3% per year) and the UK (+29.2% per year).

Export Prices by Country

The average hop export price stood at $X per ton in 2022, falling by -15.9% against the previous year. Overall, export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the average export price increased by 31%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2021, and then dropped dramatically in the following year.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Canada ($X per ton) and Japan ($X per ton), while the average price for exports to the UK ($X per ton) and Australia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Hop Imports

Imports into New Zealand

For the eighth year in a row, New Zealand recorded growth in purchases abroad of hops, which increased by 22% to X tons in 2022. Overall, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of 203% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, hop imports surged to $X in 2022. Over the period under review, imports continue to indicate a significant increase. The growth pace was the most rapid in 2015 with an increase of 223%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, the United States (X tons) was the main hop supplier to New Zealand, accounting for a 93% share of total imports. Moreover, hop imports from the United States exceeded the figures recorded by the second-largest supplier, Australia (X tons), more than tenfold. Germany (X tons) ranked third in terms of total imports with a 2.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled +37.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+24.9% per year) and Germany (+21.2% per year).

In value terms, the United States ($X) constituted the largest supplier of hops to New Zealand, comprising 94% of total imports. The second position in the ranking was held by Australia ($X), with a 3.7% share of total imports. It was followed by Germany, with a 1.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to +46.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+27.7% per year) and Germany (+22.6% per year).

Import Prices by Country

The average hop import price stood at $X per ton in 2022, growing by 3.4% against the previous year. Overall, import price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hop import price increased by +3.9% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the average import price increased by 24%. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Australia ($X per ton), while the price for Germany ($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 (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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