New Zealand Foodservice Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

New Zealand Foodservice Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The New Zealand foodservice market is projected to grow at a CAGR of 3.73%, during the forecast period 2020 - 2025.

Key Highlights

• The market is primarily driven by the growing demand for home delivery and food service providers. In addition, factors such as increasing frequency of dining out, amidst time-pressed schedules and the growing influence of western dietary patterns, due to the presence of the international companies, particularly in the developed cities are further boosting the market growth.
• Furthermore, expansion by international players has been witnessed to be one of the major factors affecting the market growth. For instance, according to Restaurant Brands, in 2015, New Zealand were having 91 KFC stores, which increased and reached to 94 by 2019. Similarly, BurgerFuel is planning to open 1000 new stores over the next eight years and plans to utilize existing franchisees within the Subway sandwich chain's worldwide network.
• However, increasing health consciousness and the growing rate of obesity among the New Zealand population is challenging the market. Therefore, companies are coming with new and innovative healthy food with organic and natural ingredients in an attempt to overcome the challenges faced by the players in the industry.

Key Market TrendsFull-Service Restaurants Segment To Drive The Regional Market

Full-service restaurants are increasingly focusing on sustainable locally sourced ingredients with local ingredients giving the food a sense of place. Thus, leading players are focusing on leveraging opportunities from the emerging consumer trends, in order to expand their offerings, primarily to cater to the requirements. For instance, the Lotus-Heart is one of those independently owned vegetarian restaurants. In addition to their pure vegetarian fare, the restaurant offers various options for vegan, gluten-free and raw food diets. Also, for many years, cities such as Wellington, have been highly accepting of vegetarian and vegan food options, with most full-service restaurants offering a selection well beyond the token salad for vegans and vegetarians. Lone star has been one of the leading players in the New Zealand full-service restaurant market offering high-quality food.

Growing Demand For Fast Food Market

Consumer spending on fast food was highest in Auckland, Wellington, and Christchurch. Restaurant Brands New Zealand Limited, currently operates and owns the master franchising rights for the Carl's Jr., KFC, and Taco Bell brands in New Zealand. Owing to the significant demand for fast food across the country, global players are entering into the market studied with an aim to increase their revenue and market share. For instance, in October 2019, Fast food chain Taco Bell was launched in New West Auckland, Zealand. Popular brands such as KFC, McDonald’s and Subway are embarking on expansion plans across the country, to effectively penetrate its presence. For instance, in February 2018, McDonald’s announced to open four new restaurants in greater Christchurch.

Competitive Landscape

The New Zealand market for foodservice is competitive and fragmented, owing to the presence of large regional and domestic players in different countries. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. For instance, in 2018, Domino’s has partnered with a local provider, Angel Foods, to make vegan cheese in order to provide customers with vegan cheese pizza.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

KFC
Starbucks Coffee Company
Taco Bell NZ
Carl's Jr.
Pizza Hut
BurgerFuel
Columbus Coffee
Dine In Group
Hell Pizza
Domino's

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