New Zealand Foodservice Market to 2028

New Zealand Foodservice Market to 2028

Summary

“New Zealand - The Future of Foodservice to 2028” published by GlobalData provides extensive insight and analysis of the New Zealand Foodservice market over the next five years (2023-28) and acts as a vital point of reference for operators or suppliers.

The overall value of New Zealand’s foodservice profit sector registered a CAGR of 2% during 2018-23, reaching NZD14.3 billion ($8.8 billion) in 2023. This was partly due to an increase in the number of transactions, but mainly due to inflation. The increase in consumer demand for takeouts was one of the major factors in sales growth. The New Zealand profit sector is forecast to record a value CAGR of 5.1% during 2023-28, while the number of transactions will generate a CAGR of 2.4%. Meanwhile, the number of outlets is projected to expand at a CAGR of 0.6% during 2023-28.

The report includes -

• Overview of New Zealand's macro-economic landscape: Detailed analysis of current macro-economic factors and their impact on the New Zealand foodservice market including GDP per capita, consumer price index, population growth, and annual household income distribution.
• Growth dynamics: In-depth data and forecasts of key channels (QSR, FSR, and coffee & tea shop) within the New Zealand foodservice market, including the value of the market, number of transactions, number of outlets and average transaction price.
• Customer segmentation: Identify the most important demographic groups, buying habits, and motivations that drive out-of-home meal occasions among segments of the New Zealand population.
• Key players: Overview of market leaders within the four major channels including business descriptions and number of outlets.

Scope

In 2023, New Zealand recorded annual GDP growth of 4.4%, a drop from the 8.3% growth rate recorded in 2022. The inflation rate dropped to 5.6% in 2023, while the unemployment rate was low at 3.8% and is expected to fall to 3.7% in 2026. QSR was the second-largest channel in the New Zealand foodservice profit sector in 2023, with a share of 31.4%. The channel’s sales generated a CAGR of 4.3% during 2018-23, reaching NZD4.5 billion ($2.8 billion) in 2023.Valued at NZD5.1 billion ($3.1 billion), FSR was the largest channel in the New Zealand foodservice profit sector in 2023. The channel held a 35.4% share of profit sector value sales in the year. The New Zealand coffee & tea shop channel generated value sales of NZD472.2 million in 2023. The channel registered minimal growth during 2018-23.

Reasons to Buy

• Specific forecasts of the foodservice market over the next five years (2023-28) will give readers the ability to make informed business decisions through identifying emerging/declining markets.
• Consumer segmentation detailing the desires of known consumers among all major foodservice channels (QSR, FSR, and coffee & tea shop) will allow readers understand the wants and needs of their target demographics.