According to Euromonitor International, New Zealand’s plant-based food market reached an estimated NZD $200–220 million in 2024, continuing its trend of 8–12% annual growth. While plant-based milk leads the category with an estimated NZD $120 million in sales, demand is also increasing for plant-based cheeses, yoghurts, and high-protein snacks.
What’s driving this surge?
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Health & Wellness: Nearly half of New Zealand consumers now look for foods perceived as healthier and lower in saturated fats.
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Sustainability: According to FMCG Business NZ, sustainability and animal welfare remain key purchase drivers for younger demographics (18–34).
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Taste Improvements: Early plant-based products often underperformed on flavour and texture. Recent innovation has closed the gap, encouraging repeat purchases.
Key Opportunities for Brands:
✅ Plant-Based Cheese: Still an underdeveloped segment with less competition and room for differentiation.
✅ High-Protein, Low-Additive Snacks: Consumers increasingly demand clean labels and functional benefits.
✅ Affordable Alternatives: Many shoppers want plant-based options but remain price-sensitive. Mid-market brands can fill this gap.
Whether you’re planning to launch a new product or diversify your range, plant-based foods present one of NZ’s fastest-growing FMCG opportunities.
Sources: Euromonitor International, FMCG Business NZ, Supermarket News NZ, Stats NZ.