New Zealand: Market for Salted, Dried or Smoked Meat, and Offal 2024

Market Size for Salted, Dried or Smoked Meat, and Offal in New Zealand

The New Zealand market for salted, dried or smoked meat, and offal shrank slightly to $X in 2022, which is down by -3.3% against the previous year. Over the period under review, the total consumption indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +7.9% against 2020 indices. Consumption of peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Salted, Dried or Smoked Meat, and Offal in New Zealand

In value terms, production of salted, dried or smoked meat, and offal shrank to $X in 2022 estimated in export price. In general, production, however, posted notable growth. The growth pace was the most rapid in 2015 when the production volume increased by 55%. Over the period under review, production of hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Salted, Dried or Smoked Meat, and Offal

Exports from New Zealand

In 2022, the amount of salted, dried or smoked meat, and offal exported from New Zealand skyrocketed to X tons, rising by 101% against the previous year. In general, exports enjoyed resilient growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of salted, dried or smoked meat, and offal soared to $X in 2022. Overall, exports recorded a significant increase. The most prominent rate of growth was recorded in 2016 when exports increased by 185%. The exports peaked in 2022 and are likely to continue growth in years to come.

Exports by Country

The United States (X tons) was the main destination for exports of salted, dried or smoked meat, and offal from New Zealand, accounting for a 62% share of total exports. Moreover, exports of salted, dried or smoked meat, and offal to the United States exceeded the volume sent to the second major destination, Australia (X tons), fourfold. The third position in this ranking was held by Tonga (X tons), with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +57.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+31.3% per year) and Tonga (+15.1% per year).

In value terms, the United States ($X) remains the key foreign market for salted, dried or smoked meat, and offal exports from New Zealand, comprising 66% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 10% share of total exports. It was followed by Australia, with an 8.7% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +45.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+40.3% per year) and Australia (+23.8% per year).

Export Prices by Country

In 2022, the average export price for salted, dried or smoked meat, and offal amounted to $X per ton, which is down by -24.4% against the previous year. In general, the export price, however, continues to indicate moderate growth. The growth pace was the most rapid in 2018 when the average export price increased by 86%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Tonga ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+23.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Salted, Dried or Smoked Meat, and Offal

Imports into New Zealand

In 2022, overseas purchases of salted, dried or smoked meat, and offal increased by 62% to X tons, rising for the second year in a row after two years of decline. In general, imports recorded a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of 92%. Over the period under review, imports of attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, imports of salted, dried or smoked meat, and offal surged to $X in 2022. Over the period under review, imports saw a prominent expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 74% against the previous year. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Poland (X tons), the United States (X tons) and Australia (X tons) were the main suppliers of imports of salted, dried or smoked meat, and offal to New Zealand, together accounting for 89% of total imports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +286.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), the United States ($X) and Italy ($X) appeared to be the largest salted, dried or smoked meat, and offal suppliers to New Zealand, together comprising 84% of total imports.

The United States, with a CAGR of +248.3%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for salted, dried or smoked meat, and offal amounted to $X per ton, falling by -12.1% against the previous year. Over the period under review, the import price continues to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2016 an increase of 29%. The import price peaked at $X per ton in 2012; however, from 2013 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 Italy ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+2.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform