NZ natural products market bursts through billion dollar mark
From Today’s Food Navigator Asia:
“New Zealand’s natural products industry has exceeded revenues of NZ$1billion (US$823.2m) which highlights the significance of this sector and its growth potential, especially in exports…
Research on New Zealand’s nutraceuticals and foods for health sector, compiled by consultancy firm Coriolis, noted that Natural Products New Zealand has articulated a growth target of $5 billion by 2025. It predicted that an 11% year on year growth will be required to reach this target…
The Coriolis research suggested that industry collaboration and consolidation is required within New Zealand’s natural products industry as it is a highly fragmented industry with small and under-resourced companies.
It noted that a wide range of points in the supply chain that could benefit from increased economies of scale and that industry and science must align to become innovative.
Coriolis suggested that investors should focus on proven products achieving traction in export markets, such as Manuka honey, green-lipped mussel extracts and dairy-related or derived nutraceuticals.”
Read the Nutraceuticals report from the F&B Information Project here.