Economic Development Minister Simon Bridges and Primary Industries Minister Nathan Guy have today launched the latest investor guides to New Zealand’s Food and Beverage Industry, showing a strong and diversified sector.
The guides contain analysis of trends and opportunities within the industry which can be used to attract investment, assist with business strategy and guide government policy.
“The food and beverage sector is the cornerstone of the New Zealand economy. It employs directly or indirectly nearly one in five New Zealand workers and generates $29 billion in exports, representing over half of our merchandise export earnings,” Mr Bridges says.
“The Government is committed to growing and diversifying New Zealand’s economy and these guides show potential investors that innovation is alive and well in our food and beverage sector.
“We also have a wide range of emerging growth categories within the sector, including infant formula and dairy nutritionals, a growing range of products in the snacking category, yoghurt, UHT milk, avocados and processed chicken.
“These emerging categories are helping drive long term export growth across the sector and in turn are helping further strengthen New Zealand’s economy, and provide new jobs, including in the regions,” Mr Bridges says.
The research within the guides has been compiled from a wide range of sources. Around 265 firms are profiled, of which 96 are in the increasingly innovative processed foods sector.
“These reports show New Zealand producers are successfully adding value and creating premium products,” says Mr Guy.
“It shows there has been billions of dollars in investment in recent years towards developing or extending value added categories, at new packaging and branding and new product development. This will help towards our goal of doubling the value of primary sector exports by 2025.
“We’re making good use of our competitive advantages, such as our relative proximity to Asian markets, good climate and fertile soils. At the same time, there are plenty of opportunities for more innovation to drive growth.
“The Government is supporting this through research and development. The Primary Growth Partnership in particular has $759 million co-invested by industry and Government towards 22 cutting edge projects in the primary sector.
“Budget 2017 also made more money available for Callaghan Innovation’s Research and Development Growth Grants which support innovative Kiwi companies in bringing their products and ideas to the market sooner.”
The new guides are available at www.mbie.govt.nz/info-services/sectors-industries/food-beverage/information-project.