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Hong Kong SAR, China - Cheese And Curd - Market Analysis, Forecast, Size, Trends And Insights
Report Update: Nov 1, 2024

Hong Kong SAR, China - Cheese And Curd - Market Analysis, Forecast, Size, Trends And Insights

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May 18, 2023

Cheese and Curd Price in Hong Kong Falls Slightly to $6,965 per Ton

Hong Kong Cheese And Curd Import Price in January 2023

In January 2023, the cheese and curd price stood at $6,965 per ton (CIF, Hong Kong), with a decrease of -1.6% against the previous month. Over the period from January 2022 to January 2023, it increased at an average monthly rate of +1.6%. The most prominent rate of growth was recorded in March 2022 when the average import price increased by 9.8% m-o-m. Over the period under review, average import prices reached the maximum at $7,080 per ton in December 2022, and then dropped in the following month.

There were significant differences in the average prices amongst the major supplying countries. In January 2023, the country with the highest price was Malaysia ($12,079 per ton), while the price for the Philippines ($3,042 per ton) was amongst the lowest.

From January 2022 to January 2023, the most notable rate of growth in terms of prices was attained by Malaysia (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

COUNTRYImport Price of Cheese And Curd in Hong Kong (USD per ton)
Jan 2022Feb 2022Mar 2022Apr 2022May 2022Jun 2022Jul 2022Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023
Malaysia4,7867,709N/A5,1767,8993,7755,6716,7886,8496,3527,0496,79012,079
Denmark5,1303,7784,3955,6975,0545,8686,9975,96211,2566,3276,5288,3019,873
Italy7,7177,4288,8598,6448,2628,8679,8259,5318,9078,3289,1178,5108,550
France9,8318,6168,6698,1039,1867,9169,1857,1397,15511,1227,17510,7387,944
United States6,6805,3256,2035,6526,0165,8416,0857,0035,4748,3475,9836,7387,580
Singapore6,219N/A6,4308,8666,1927,4136,3007,1376,1136,8466,0306,6677,519
Australia5,5127,0726,0136,6536,8065,8866,0696,7637,2997,2826,6506,9437,388
Netherlands6,9046,0366,9626,3168,3625,6464,9646,7387,2416,5006,5167,3287,206
United Kingdom5,1926,4247,2875,6757,3855,9256,8427,9196,4555,9007,2345,1996,705
Belgium3,760N/A8,6035,44810,6654,9735,6918,8487,9136,1176,2856,7566,331
Poland12,9424,2604,5635,2254,9445,2975,58010,2435,5805,8125,2045,2855,636
New Zealand4,8295,1925,2595,4194,6425,3994,9865,1425,6404,7555,8156,2735,076
Philippines3,3355,2994,3805,0765,0874,8905,4482,9002,7325,8843,9356,0883,042
Average5,7726,1146,7136,6146,8406,4106,5216,9576,6896,7846,5847,0806,965

Hong Kong Cheese And Curd Import Prices by Type

Average prices varied somewhat amongst the major supplied products. In January 2023, the products with the highest prices were fresh cheese (unripened or uncured cheese), including whey cheese and curd ($9,210 per ton) and cheese of all kinds, grated or powdered ($8,410 per ton), while the price for cheese, other than blue-veined, grated, powdered or processed ($6,237 per ton) and processed cheese (excluding grated or powdered) ($7,556 per ton) were amongst the lowest.

From January 2022 to January 2023, the most notable rate of growth in terms of prices was attained by cheese of all kinds, grated or powdered (+2.9%), while the prices for the other products experienced more modest paces of growth.

Hong Kong Cheese And Curd Imports

Cheese and curd imports into Hong Kong dropped to 1.2K tons in January 2023, shrinking by -13.3% on December 2022. Overall, imports recorded a pronounced curtailment. The pace of growth appeared the most rapid in March 2022 with an increase of 22% m-o-m.

In value terms, cheese and curd imports declined to $8.6M (IndexBox estimates) in January 2023. In general, imports showed a mild slump. The pace of growth was the most pronounced in March 2022 when imports increased by 34% against the previous month.

Hong Kong Cheese And Curd Imports by Type

In January 2023, cheese, other than blue-veined, grated, powdered or processed (739 tons) constituted the largest type of cheese and curd supplied to Hong Kong, with a 60% share of total imports. Moreover, cheese, other than blue-veined, grated, powdered or processed exceeded the figures recorded for the second-largest type, processed cheese (excluding grated or powdered) (313 tons), twofold. Fresh cheese (unripened or uncured cheese), including whey cheese and curd (105 tons) ranked third in terms of total imports with an 8.5% share.

From January 2022 to January 2023, the average monthly rate of growth in terms of the volume of import of cheese, other than blue-veined, grated, powdered or processed stood at -3.3%. With regard to the other supplied products, the following average monthly rates of growth were recorded: processed cheese (excluding grated or powdered) (-2.6% per month) and fresh cheese (unripened or uncured cheese), including whey cheese and curd (-3.7% per month).

In value terms, the most traded types of cheese and curd in Hong Kong were cheese, other than blue-veined, grated, powdered or processed ($4.6M), processed cheese (excluding grated or powdered) ($2.4M) and fresh cheese (unripened or uncured cheese), including whey cheese and curd ($970K), together comprising 92% of total imports. These products were followed by cheese of all kinds, grated or powdered, which accounted for a further 7.9%.

Hong Kong Cheese And Curd Imports by Country

New Zealand (265 tons), the UK (171 tons) and Australia (164 tons) were the main suppliers of cheese and curd imports to Hong Kong, with a combined 48% share of total imports. These countries were followed by Italy, France, the United States, Singapore, the Netherlands, Belgium, Poland, the Philippines, Denmark and Malaysia, which together accounted for a further 44%.

From January 2022 to January 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +43.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, New Zealand ($1.3M), Italy ($1.3M) and Australia ($1.2M) were the largest cheese and curd suppliers to Hong Kong, with a combined 44% share of total imports. the UK, France, the United States, Singapore, Denmark, the Netherlands, Belgium, Poland, the Philippines and Malaysia lagged somewhat behind, together comprising a further 47%.

Among the main suppliers, Poland, with a CAGR of +33.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the cheese and curd market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • FCL 901 - Cheese from Whole Cow Milk
  • FCL 904 - Cheese from Skimmed Cow Milk
  • FCL 905 - Whey Cheese
  • FCL 907 - Processed Cheese
  • FCL 955 - Cheese of Buffalo Milk
  • FCL 984 - Cheese of Sheep Milk
  • FCL 1021 - Cheese of Goat Milk

Country coverage:

  • Hong Kong SAR

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Hong Kong SAR, China
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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