Updated Nov 4, 2022 09:52

Market for Vegetable or Animal Colouring Matter in New Zealand

Market Overview
In , the New Zealand market for colouring matter of vegetable or animal origin was finally on the rise to reach $ for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption saw a significant increase. As a result, consumption reached the peak level of $. From 2010 to , the growth of the market remained at a somewhat lower figure.

In value terms, vegetable or animal colouring matter production shrank markedly to $ in estimated in export price. Over the period under review, production, however, continues to indicate pronounced growth. The pace of growth appeared the most rapid in 2009 when the production volume increased by %. As a result, production attained the peak level of $. From 2010 to , production growth remained at a somewhat lower figure.


Consumption
In , consumption of colouring matter of vegetable or animal origin in New Zealand shrank to tons, dropping by -% compared with figures. In general, consumption, however, continues to indicate significant growth. As a result, consumption reached the peak volume of tons. From 2010 to , the growth of the consumption remained at a somewhat lower figure.

The revenue of the market for colouring matter of vegetable or animal origin in New Zealand declined to $ in , waning by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, enjoyed a significant expansion. As a result, consumption reached the peak level of $. From 2010 to , the growth of the market failed to regain momentum.


Market Forecast
The market for vegetable or animal colouring matter is expected to start a downward consumption trend over the next eight years. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -% for the eight-year period from to , which is projected to depress the market volume to tons by the end of .

In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
New Zealand remains a net exporter of vegetable or animal colouring matter; in physical and value terms, exports consistently exceeded imports from 2007 to . In , there was a significant trade surplus of tons, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.