Hong Kong SAR, China - Dairy Produce - Market Analysis, Forecast, Size, Trends and Insights
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View PricingImports of Dairy Produce Surge to $78M in November 2023 in Hong Kong
Hong Kong Dairy Produce Imports
In November 2023, the amount of dairy produce imported into Hong Kong reached 21K tons, growing by 6.3% compared with October 2023. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2023 when imports increased by 14% m-o-m.
In value terms, dairy produce imports expanded slightly to $78M (IndexBox estimates) in November 2023. The total import value increased at an average monthly rate of +1.4% from November 2022 to November 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in May 2023 with an increase of 39% month-to-month. As a result, imports attained the peak of $94M. From June 2023 to November 2023, the growth of imports failed to regain momentum.
| COUNTRY | Import Value of Dairy Produce in Hong Kong (million USD) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 | May 2023 | Jun 2023 | Jul 2023 | Aug 2023 | Sep 2023 | Oct 2023 | Nov 2023 | |
| China | 13.3 | 13.0 | 9.7 | 16.5 | 18.7 | 7.8 | 13.9 | 15.6 | 14.8 | 28.0 | 15.1 | 21.0 | 22.5 |
| New Zealand | 15.0 | 13.6 | 11.7 | 13.1 | 12.7 | 18.1 | 35.4 | 12.3 | 21.9 | 11.2 | 12.1 | 13.2 | 14.9 |
| Netherlands | 9.3 | 3.0 | 6.1 | 6.7 | 11.7 | 7.7 | 14.0 | 9.7 | 15.5 | 7.2 | 13.2 | 14.0 | 12.2 |
| Thailand | 3.6 | 3.9 | 3.1 | 3.9 | 4.0 | 3.6 | 3.2 | 3.7 | 3.4 | 3.8 | 3.5 | 4.3 | 4.5 |
| Australia | 3.5 | 5.2 | 6.3 | 6.6 | 16.1 | 7.1 | 6.3 | 5.1 | 4.7 | 6.5 | 5.8 | 4.4 | 4.4 |
| Malaysia | 2.6 | 1.9 | 2.0 | 3.3 | 3.2 | 4.9 | 2.8 | 3.0 | 3.7 | 3.5 | 3.5 | 2.9 | 3.8 |
| France | 2.9 | 3.3 | 3.5 | 2.2 | 2.9 | 2.2 | 3.9 | 3.0 | 2.6 | 3.3 | 2.3 | 2.2 | 2.1 |
| Others | 16.2 | 15.0 | 16.6 | 15.1 | 14.0 | 16.3 | 14.5 | 14.9 | 13.8 | 20.1 | 17.7 | 14.9 | 13.6 |
| Total | 66.4 | 58.9 | 59.0 | 67.5 | 83.3 | 67.6 | 94.0 | 67.4 | 80.4 | 83.6 | 73.1 | 76.8 | 78.0 |
Imports by Country
China (3.9K tons), Thailand (3.3K tons) and New Zealand (2.8K tons) were the main suppliers of dairy produce imports to Hong Kong, with a combined 48% share of total imports.
From November 2022 to November 2023, the biggest increases were in New Zealand (with a CAGR of +2.8%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, the largest dairy produce suppliers to Hong Kong were China ($22M), New Zealand ($15M) and the Netherlands ($12M), with a combined 64% share of total imports.
China, with a CAGR of +4.5%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Imports by Type
In November 2023, whole fresh milk (8.8K tons) constituted the largest type of dairy produce supplied to Hong Kong, accounting for a 42% share of total imports. Moreover, whole fresh milk exceeded the figures recorded for the second-largest type, evaporated and condensed milk (4.1K tons), twofold. Powdered milk (3.2K tons) ranked third in terms of total imports with a 15% share.
From November 2022 to November 2023, the average monthly rate of growth in terms of the volume of import of whole fresh milk totaled +1.3%. With regard to the other supplied products, the following average monthly rates of growth were recorded: evaporated and condensed milk (+0.6% per month) and powdered milk (+3.1% per month).
In value terms, powdered milk ($42M) constituted the largest type of dairy produce supplied to Hong Kong, comprising 53% of total imports. The second position in the ranking was held by whole fresh milk ($10M), with a 13% share of total imports. It was followed by cheese, with an 11% share.
Import Prices by Country
In November 2023, the dairy produce price amounted to $3,749 per ton (CIF, Hong Kong), with a decrease of -4.5% against the previous month. Overall, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in May 2023 an increase of 31% against the previous month. As a result, import price attained the peak level of $4,612 per ton. From June 2023 to November 2023, the average import prices remained at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was China ($5,788 per ton), while the price for Poland ($837 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by China (+2.8%), while the prices for the other major suppliers experienced more modest paces of growth.
This report provides an in-depth analysis of the dairy produce 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 888 - Skim Milk of Cows
- FCL 1130 - Camel milk
- FCL 882 - Cow milk, whole (fresh)
- FCL 1020 - Goat milk
- FCL 982 - Sheep milk
- FCL 951 - Buffalo milk
- FCL 897 - Dry Whole Cow Milk
- FCL 898 - Dry Skim Cow Milk
- FCL 889 - Whole Milk, Condensed
- FCL 894 - Whole Milk, Evaporated
- FCL 895 - Skim Milk, Evaporated
- FCL 896 - Skim Milk, Condensed
- FCL 891 - Yoghurt
- FCL 983 - Butter and Ghee of Sheep Milk
- FCL 1022 - Butter of Goat Milk
- FCL 952 - Butter of Buffalo Milk
- FCL 886 - Butter of Cow Milk
- FCL 887 - Ghee from Cow Milk
- FCL 953 - Ghee, from Buffalo Milk
- 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
- FCL 885 - Cream, Fresh
- FCL 893 - Buttermilk, Curdled Milk, Acidified Milk
- FCL 899 - Dry Buttermilk
- FCL 892 - Yoghurt, Concentrated or Unconcent
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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND THE AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDSThis Chapter is Available Only for the Professional EditionPRO
3. MARKET OVERVIEW
Understanding the Current State of The Market and its Prospects
- MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- MARKET STRUCTURE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- TRADE BALANCE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- PER CAPITA CONSUMPTION: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- MARKET FORECAST TO 2035
4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION
Finding New Products to Diversify Your Business
- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCTS
- MOST TRADED PRODUCTS
- MOST PROFITABLE PRODUCTS FOR EXPORTS
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Export
- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
- IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
- EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
- Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country, 2012–2024
LIST OF FIGURES
- Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Structure – Domestic Supply vs. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Structure – Domestic Supply vs. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Trade Balance, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Trade Balance, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Volume Forecast to 2035
- Market Value Forecast to 2035
- Market Size and Growth, By Product
- Average Per Capita Consumption, By Product
- Exports and Growth, By Product
- Export Prices and Growth, By Product
- Production Volume and Growth
- Exports and Growth
- Export Prices and Growth
- Market Size and Growth
- Per Capita Consumption
- Imports and Growth
- Import Prices
- Production, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Production, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country, 2012–2024
- Exports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country, 2012–2024
