According to a government report published by the New Zealand Ministry of Business, the exports of food and beverage from the country are estimated to double in volume over the next 15 years. It could reach an estimated value of USD 40 billion owing to the rising demands from Asian countries, especially China.
The report states that New Zealand possesses huge potential for expanding and escalating food production and the rising demand from major Asian economies like China would drive the growth of this sector for the country.
Of the total global food and beverage exports from the country, accounting for an approximately USD 21 billion business in the year 2012, the largest share was taken by the Asia while China accounted for the largest single consumer of these products, buying exports worth USD 3.2 billion.
The report also added that nearly 25% of the country’s food and beverage production is consumed by the foreign markets. The budding field has garnered good interest from investors with major capital investments in the past few years adding up to USD 1.73 billion.
While doubling the exports in real time is neither an easy task nor is easily attainable. But the balanced demand and steady flow of business suggests that it is possible, states the report.