Strong value sales growth over 2022 and 2023 has been fuelled by rampant inflation in the aftermath of the pandemic. With international and domestic supply chains severely disrupted as demand returned at pace following the removal of movement and travel restrictions, a consequence of this has been higher costs for both producers and distributors alike, which have been passed on to consumers.
The high rates of inflation that emerged over the review period have yet to subside in New Zealand, but growth has at least stabilised with the official inflation rate holding at 6.7% in March 2023 (as opposed to the Reserve Bank’s target level of between 1-3%).
In line with growing health and wellness preferences among local consumers, hot cereals is likely to remain a leader of innovation within breakfast cereals over the forecast period as it is predicted to continue to post stronger retail volume growth compared to other types in the category. While cost-of-living pressures are expected to impact breakfast cereals in general, consumers are unlikely to want to move away from health and wellness-positioned products.
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Breakfast Cereals
This is the aggregation of ready-to-eat (RTE) and hot cereals.
See All of Our DefinitionsThis report originates from Passport, our Breakfast Cereals research and analysis database.
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