Regulatory changes have caused a large shift in the poultry egg industry with production rapidly moving away from battery cages and towards colony, barn or free-range production methods contributing to higher prices for eggs. These trends have weighed on industrywide profitability despite high prices for eggs and poultry. Additional expenses associated with converting from caged egg production have contributed to rising consolidation in the industry.
Revenue and GDP Trend
The total revenue for the Poultry Meat and Egg Farming industry was $809 million in the 2022-2023 financial year, an increase of 2.1% from 2021-2022. The contribution to GDP by the Poultry Meat and Egg Farming industry was $215 million in 2022-2023, an increase of 3.7% from 2021-2022.
We have not been able to obtain industry data on revenue or contributions to GDP that is granular enough for us to draw out figures for the Pork industry. Like many sectors, the COVID-19 pandemic had a considerable impact on the Pork industry, which is currently facing high input costs (e.g., feed costs) and labour shortages. A big challenge and focus for the industry currently are proposed changes to government regulations around animal welfare.
From 2013-2020 there was an increasing trend in the contribution of Poultry Meat and Egg Farming industry to GDP. From 2021, onwards estimated contribution to GDP has been stable with modest growth expected over the next six years.
Footnotes
1. IBISWorld, “Poultry, Meat and Egg Farming in New Zealand,” Industry Report (New Zealand: IBISWorld (access is by subscription only), May 2023), https://www.ibisworld.com/.