Nutraceuticals and ‘innovative foods’ are New Zealand’s biggest and fastest-growing food and beverage export categories, according to a new Government-backed report.
According to The Investor’s Guide to the New Zealand Food Industry 2017, exports of nutraceuticals and ‘other innovative products increased in value from US$342 million to US$883 million between 2006 and 2016. It means that nutraceuticals account for 38% of ‘processed foods’ exports – with infant formula representing the second biggest category at 29%.
The report notes that the New Zealand’s nutraceuticals sector is “firmly on trend” and “successfully leveraging NZ’s geographic isolation, unique ecosystem and botanical heritage”. It adds that growth of the sector is “in line with New Zeland’s positioning as ‘100% pure NZ’”. And the report says the innovative food sector has been veery effective in “reorienting to the needs of China/Asia”. Key product types within NZ’s nutraceuticals export sector include greenshell mussels, Manuka honey and native botanicals.
The report, which has been written to encourage investment in NZ food export businesses identifies four international food and beverage ‘mega-trends’ – Health & Wellness, Authentic & Responsible, Easy & Convenient, Sensory & Indulgent – which it says NZ companies are “successfully aligned with”.
This report was commissioned by NZ’s Ministry of Business, Innovation and Employment (MBIE) and prepared by Coriolis.