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Canadean: New Zealand - The Future of Foodservice to 2016

New Zealand’s total foodservice sales in 2011

New Zealand’s total foodservice sales in 2011

The New Zealand foodservice market recorded a CAGR of 1.43% during the review period. Per capita sales increased at a review period CAGR of 0.38%. In 2011, the profit sector contributed 92.1% to the country’s total foodservice sales and posted a per capital sales CAGR of 0.33%. Growth in the profit sector is attributable to the growth in the restaurant channel which grew by a CAGR of 1.56%. In contrast, the cost sector accounted for 7.9% of New Zealand’s total foodservice sales in 2011, recording a CAGR of 1.47% (reference see graph below).

The number of transactions in the New Zealand foodservice industry recorded a CAGR 0.95% during 2006–2011 as a result of a growing shift towards smaller households, couples without children, one parent families and working families. Following the global financial crisis in 2008, growth in the sector decelerated. However, growth is projected to rebound over the forecast period and be driven primarily by an expected increase in dining out. A growth in the number of single person households and an increase in citizen’s disposable incomes are forecast to drive growth in the market.

Increasing concerns regarding the health issues surrounding fast food and a greater awareness of healthy lifestyle choices are being reflected in the addition of healthier options to restaurant menus. The trend is being followed not only in the fast food segment but also in full-service restaurants and the education sector, and is expected to continue with a government-driven emphasis on healthy food over forecast period. Going forward the government are expected to implement laws regarding menu labeling in the restaurant segment, especially in fast food outlets, similar to the laws passed in the US.

New Zealand’s economy has registered a subdued growth rate during the recent global financial crisis, which also affected the country’s foodservice industry. Primarily due to a change in economic conditions and a reduction in consumer expenditure, demand for the out-of-home cooked food market was adversely affected. In addition, consumers preferred to trade-down to less expensive outlets and opted for value foodservices providers.

Bars and restaurants have been adversely affected by the increase of the sale of cheap alcohol in supermarkets. The growth in sale of alcohol from supermarkets has prompted the Hospitality Association to lobby for a ban on alcohol sales from these establishments, as they deem the sale of cheap alcohol as promoting binge drinking.

Growth in levels of disposable income, a thriving tourism sector and a projected increase in the number of single person households are all factor forecast to support a growth in foodservice sales. Interestingly, eating-on-the-go is becoming increasingly prevalent and fine dining is being substituted for casual dining, which is forecast to increase the number transactions in the restaurants channel, which represents 60% of the country’s total foodservice sales.

Tourism accounted for 10% of the country’s GDP and acted as a source of employment for a considerable amount of the population. The high inflow of travelers adds to the performance of the foodservice industry through increased sales in the various channels, primarily the accommodation, restaurant, leisure overall, and pubs, clubs, and bars channels. Leisure travel and tourism spending remained positive despite of the global financial crisis and recent earthquakes.

ICD Research - New Zealand: The Future of Foodservice to 2016:
http://www.reports-research.com/market-surveys/zealand-foodservice-future-foodservice-2016-p-266913.html

ICD Research - Further Market Reports:
http://www.reports-research.com/market-surveys/canadean-m-376.html

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