Vegetable Growing in New Zealand - Industry Market Research Report

Mushroom for growth: Rising health consciousness has cultivated revenue and profitability

The Vegetable Growing industry's performance is linked to several factors, with the most significant being production. Volatile growing conditions, such as the drought in the North Island in early 2020, have caused production to fluctuate over the five years through 2022-23. Revenue is expected to decline at an annualised 1.1% over the five years through 2022-23, to an estimated $1.4 billion. COVID-19 also reduced vegetable growers' revenue as supply chain disruptions due to quarantined workers and restrictions at ports delayed shipments for both receiving inputs and exporting goods. Rising health consciousness is encouraging consumers to include more vegetables in their diets. However, growing cost-of-living concerns are reducing consumer demand for vegetables. This is expected to contribute to a revenue decrease of 2.3% in 2022-23. Industry operators grow vegetables outdoors and under cover. Under cover growing occurs primarily in greenhouses, cold frames, cloth houses and lath houses. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.