New Zealand: Market for Protein Concentrates and Flavoured or Coloured Sugar Syrups 2024

Market Size for Protein Concentrates and Flavoured or Coloured Sugar Syrups in New Zealand

The New Zealand market for protein concentrates and flavoured or coloured sugar syrups expanded rapidly to $X in 2021, growing by 6.9% against the previous year. In general, consumption, however, continues to indicate a perceptible contraction. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Protein Concentrates and Flavoured or Coloured Sugar Syrups in New Zealand

In value terms, production of protein concentrates and flavoured or coloured sugar syrups expanded notably to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2019 with an increase of 74% against the previous year. Production of peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Exports of Protein Concentrates and Flavoured or Coloured Sugar Syrups

Exports from New Zealand

In 2021, shipments abroad of protein concentrates and flavoured or coloured sugar syrups decreased by -14.5% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, exports, however, showed strong growth. The growth pace was the most rapid in 2019 when exports increased by 424%. Over the period under review, the exports of reached the peak figure at X tons in 2020, and then reduced in the following year.

In value terms, exports of protein concentrates and flavoured or coloured sugar syrups shrank to $X in 2021. Overall, exports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2019 with an increase of 336% against the previous year. Over the period under review, the exports of hit record highs at $X in 2020, and then fell in the following year.

Exports by Country

Australia (X tons) was the main destination for exports of protein concentrates and flavoured or coloured sugar syrups from New Zealand, with a 50% share of total exports. Moreover, exports of protein concentrates and flavoured or coloured sugar syrups to Australia exceeded the volume sent to the second major destination, South Korea (X tons), threefold. China (X tons) ranked third in terms of total exports with a 9.6% share.

From 2012 to 2021, the average annual growth rate of volume to Australia amounted to +28.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+48.0% per year) and China (+9.3% per year).

In value terms, Australia ($X) emerged as the key foreign market for protein concentrates and flavoured or coloured sugar syrups exports from New Zealand, comprising 50% of total exports. The second position in the ranking was held by South Korea ($X), with an 18% share of total exports. It was followed by China, with a 9.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Australia amounted to +28.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+21.3% per year) and China (+5.9% per year).

Export Prices by Country

In 2021, the average export price for protein concentrates and flavoured or coloured sugar syrups amounted to $X per ton, with an increase of 2.4% against the previous year. In general, the export price, however, continues to indicate a perceptible slump. The most prominent rate of growth was recorded in 2015 when the average export price increased by 22%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the countries with the highest prices were Taiwan (Chinese) ($X per ton) and the United States ($X per ton), while the average price for exports to China ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+7.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Protein Concentrates and Flavoured or Coloured Sugar Syrups

Imports into New Zealand

For the third consecutive year, New Zealand recorded growth in purchases abroad of protein concentrates and flavoured or coloured sugar syrups, which increased by 2.8% to X tons in 2021. The total import volume increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2015 when imports increased by 31%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, imports of protein concentrates and flavoured or coloured sugar syrups rose markedly to $X in 2021. Over the period under review, imports recorded a prominent expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 35% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

The United States (X tons), Australia (X tons) and China (X tons) were the main suppliers of imports of protein concentrates and flavoured or coloured sugar syrups to New Zealand, with a combined 79% share of total imports. These countries were followed by Brazil, the UK, Taiwan (Chinese), India and Canada, which together accounted for a further 17%.

From 2012 to 2021, the biggest increases were recorded for the UK (with a CAGR of +70.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest protein concentrate and flavoured or coloured sugar syrup suppliers to New Zealand were the United States ($X), Australia ($X) and China ($X), with a combined 79% share of total imports. These countries were followed by Brazil, the UK, Taiwan (Chinese), India and Canada, which together accounted for a further 17%.

The UK, with a CAGR of +78.9%, recorded the highest growth rate of 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 import price for protein concentrates and flavoured or coloured sugar syrups stood at $X per ton in 2021, with an increase of 9.1% against the previous year. Overall, import price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +6.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for protein concentrates and flavoured or coloured sugar syrups increased by +82.1% against 2013 indices. The pace of growth was the most pronounced in 2018 an increase of 33%. The import price peaked in 2021 and is likely to see steady growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Australia ($X per ton) and the United States ($X per ton), while the price for Canada ($X per ton) and the UK ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+19.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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