Top Growth Opportunities: Savory Snacks in New Zealand
Amongst the top ten savory snacks markets, New Zealand ranks fourth in terms of per capita expenditure (in US$ terms) in 2016, following the US, the UK, and Japan. Furthermore, with rising health-consciousness and increased disposable incomes, consumers in New Zealand are willing to spend more on better quality savory snacks products featuring natural ingredients and tagged with health & wellness claims. Consequently, the per capita expenditure on savory snacks products is expected to rise at a CAGR of 4.2% during the next five years.
With an increase in employment rate and rising disposable incomes, the time-scarce working population in New Zealand with long working hours and busy lives are changing their consumption patterns. Instead of having proper sit-down meals, consumers snack more often, which is aiding growth in the savory snacks market.
Potato chips has been the most valuable category in the market and is forecast to register growth at a CAGR of 3.7% during 2016-2021. The popcorn category is expected to record the fastest growth during 2016-2021 and is estimated to be worth of US$24.2 Million by 2021.
The report Top Growth Opportunities: Savory Snacks in New Zealand, provides detailed analysis of how to target the best growth opportunities for savory snacks producers and retailers. Readers can understand what categories, channels, companies, and consumers will drive the success of Savory Snacks markets in New Zealand and case studies.
In particular, this report provides the following analysis -
Key consumer demographic groups driving consumption within New Zealand. Improve your consumer targeting by understanding who’s driving the market, what they want, and why.
A study of market value and volumes over 2011-2016 for New Zealand, supplemented with category, brand and packaging analysis that shows the current state of the market, and how it will evolve over the 2016-2021 period.
White space analysis, to pinpoint attractive spaces in the market and the key actions to take.
Insight into the implications behind the data, and analysis of how the consumer needs will evolve in the short-to-medium term future.
Examples of international and regional product innovation targeting key consumer needs.
New Zealand’s Savory Snacks market is the smallest among the top 10 countries in value terms, however, it is forecast to show a substantial growth over 2016-2021
Across all the Savory Snacks categories, Potato Chips category has lowest consolidation rate, presenting opportunities for new market players
Across all the age groups, youngest consumers, aged 0-15 account for the highest share of consumption across most of the Savory Snacks categories.
Over 2016-2021,Potato Chips will remain the highest value category, while Popcorn is expected to record the fastest value growth in US$ over the same period.
Reasons to buy
This report brings together consumer analysis and market data to provide actionable insight into the behavior of New Zealand's Savory Snacks consumers.
This is based on GlobalData's unique consumer data, developed from extensive consumption surveys and consumer group tracking, which quantifies the influence of 20 consumption motivations in the Savory Snacks sector.
Category, brand, and packaging dynamics are also examined. This allows product and marketing strategies to be better aligned with the leading trends in the market.