Market Trends of New Zealand Foodservice Industry
This section covers the major market trends shaping the New Zealand Foodservice Market according to our research experts:
Full-Service Restaurants Segment Fueling Market Growth
The pandemic impacted the Hotel, Restaurant, and Institutional (HRI) sector in New Zealand, which severely impacted the tourism and hospitality sectors, which were hit by the closed international borders. In the year 2022, tourism numbers will have significantly improved since the reopening of borders, making a positive impact on the restaurant market in New Zealand.
The full-service restaurant segment is highly dynamic and competitive in New Zealand, attributed to the presence of multiple local and international players. To increase localization, restaurants in the country are emphasizing sustainability and collaborating with locally sourced ingredients and market players.Therefore, leading market players are focusing on opportunities from rising consumer trends and expanding their offerings to cater to the altered demand among consumers.
Furthermore, a number of restaurants are introducing vegan, gluten-free, and raw food diets along with pure vegetarian fare in their product offerings to attract vegan consumers to them. Such full-service restaurants are increasingly accepting vegan food options and providing vegan options in addition to high-quality food.Such factors are fueling market demand for the full-service restaurant segment in the New Zealand foodservice market.
Rising Demand For Fast Food in Foodservice Market
Consumers in New Zealand are gravitating towards fast food while eating at restaurants. Spending on fast food has risen among consumers in the country owing to the growing demand for such products as a result of their taste, price, and convenience.
Multiple new players are entering the market, which is attributed to the significant demand for fast food across the country. This is being done with the aim of enhancing their revenue and market share. Taco Bell, for example, will open a new location in Wellington, New Zealand, in October 2021. Popular brands such as KFC, McDonald's, and Subway are embarking on expansion plans across the country to effectively penetrate the market.
