New Zealand: Soups Market 2024

Soups Market Size in New Zealand

In 2021, the New Zealand soups market increased by 48% to $X, rising for the third year in a row after two years of decline. In general, consumption enjoyed a strong increase. Soups consumption peaked in 2021 and is likely to see gradual growth in years to come.

Soups Production in New Zealand

In value terms, soups production reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 with an increase of 47%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Soups Exports

Exports from New Zealand

In 2021, the amount of soups and broths exported from New Zealand contracted rapidly to X tons, which is down by -22.5% against the previous year's figure. In general, exports recorded a noticeable reduction. The most prominent rate of growth was recorded in 2017 when exports increased by 777% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, soups exports contracted to $X in 2021. Over the period under review, exports continue to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2016 with an increase of 3.3% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Australia (X tons) was the main destination for soups exports from New Zealand, accounting for a 76% share of total exports. Moreover, soups exports to Australia exceeded the volume sent to the second major destination, Papua New Guinea (X tons), ninefold. Japan (X tons) ranked third in terms of total exports with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Australia stood at -5.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Papua New Guinea (+79.9% per year) and Japan (-4.7% per year).

In value terms, Australia ($X) remains the key foreign market for soups and broths exports from New Zealand, comprising 70% of total exports. The second position in the ranking was taken by Papua New Guinea ($X), with an 11% share of total exports. It was followed by Japan, with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Australia stood at -6.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Papua New Guinea (+92.5% per year) and Japan (-2.6% per year).

Export Prices by Country

The average soups export price stood at $X per ton in 2021, jumping by 16% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 791%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2021, amid the top suppliers, the countries with the highest prices were South Korea ($X per ton) and Papua New Guinea ($X per ton), while the average price for exports to Australia ($X per ton) and Japan ($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 Papua New Guinea (+7.0%), while the prices for the other major destinations experienced mixed trend patterns.

Soups Imports

Imports into New Zealand

Soups imports into New Zealand totaled X tons in 2021, growing by 3.3% compared with the previous year's figure. Over the period under review, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 14%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, soups imports rose markedly to $X in 2021. In general, total imports indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +82.6% against 2015 indices. The growth pace was the most rapid in 2020 when imports increased by 21% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Australia (X tons) constituted the largest soups supplier to New Zealand, accounting for a 67% share of total imports. Moreover, soups imports from Australia exceeded the figures recorded by the second-largest supplier, Japan (X tons), ninefold. The UK (X tons) ranked third in terms of total imports with a 5.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Australia stood at -3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+12.9% per year) and the UK (+28.1% per year).

In value terms, Australia ($X) constituted the largest supplier of soups and broths to New Zealand, comprising 65% of total imports. The second position in the ranking was held by Japan ($X), with an 8% share of total imports. It was followed by the UK, with a 5.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Australia stood at +2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+9.1% per year) and the UK (+30.2% per year).

Import Prices by Country

The average soups import price stood at $X per ton in 2021, increasing by 8.1% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +5.1%. The most prominent rate of growth was recorded in 2015 when the average import price increased by 29%. The import price peaked in 2021 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Croatia ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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