Where to From Here? Zespri Breaks $5B, But the Next Chapter Isn’t in the Tray

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New Zealand powerhouse brand, Zespri has just clocked over NZ$5 billion in global kiwifruit sales for the 2024/25 season, sending 220.9 million trays into markets from Seoul to Seattle. Growers are banking record returns, shareholders are celebrating, and the marketing team can finally tick off that 10-year sales target set back in 2015.

Source: PFN Ai Archives - Depiction of Asian couple buying kiwifruit

But beneath the applause lies a quieter tension, licensing revenue is slipping. The stream of cash once generated from releasing new hectares to grow gold and red varieties is thinning out and with it, part of Zespri’s expansion engine.

Yes, the brand still touches over 100 million households. Yes, it’s a symbol of quality. But in a world shifting rapidly - weather changes, freight, consumer behaviour - legacy success doesn’t guarantee future relevance.

The real question now isn’t about this season. It’s about the next ten.

Zespri has already hinted at the next play - innovation. The Kiwifruit Breeding Centre is developing new cultivars designed to taste better, travel smarter, and possibly even do more, think cognitive or gut and brain benefits. This isn’t just about fruit anymore. It’s about function.

Zespri could lean into hybrid fruit, designer varieties, even shelf-stable formats going beyond trays. It could decentralise growing into vertical farming environments in Canada, the UAE, or wherever demand and resilience intersect.

Younger consumers aren’t loyal to fruit stickers. They’re hungry for novelty, functionality, and something not racking up air miles. Meanwhile, Zespri’s fortress-like supply chain - once a superpower - could turn into a logistical liability as impact scrutiny and regionalisation reshape global sourcing.

Source: PFN Ai Archives - Depictions of vertical farming in UAE and mockups of branded functional products meeting the needs of the GenZ market

Because record profits don’t buy immunity. They buy time. And if Zespri wants to stay 'the crown jewel' of global produce, it’ll need to move beyond being a kiwifruit company and start looking like a fruit intelligence platform.

The next $5 billion won’t come from doing more of the same. It’ll come from doing what no one expects.

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