Hong Kong SAR, China - Evaporated And Condensed Milk - Market Analysis, Forecast, Size, Trends and Insights
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View PricingHong Kong Sees 5% Increase in Evaporated and Condensed Milk Imports, Totals $143M in 2023
Hong Kong Evaporated And Condensed Milk Imports
Evaporated and condensed milk imports into Hong Kong rose rapidly to 87K tons in 2023, growing by 5.4% compared with 2022. In general, imports, however, recorded a pronounced decrease. The growth pace was the most rapid in 2016 when imports increased by 8.8%. As a result, imports reached the peak of 118K tons. From 2017 to 2023, the growth of imports remained at a lower figure.
In value terms, evaporated and condensed milk imports reached $143M (IndexBox estimates) in 2023. Overall, imports, however, saw a noticeable downturn. The most prominent rate of growth was recorded in 2014 with an increase of 9.2% against the previous year. As a result, imports reached the peak of $195M. From 2015 to 2023, the growth of imports remained at a somewhat lower figure.
| COUNTRY | Import Value of Evaporated And Condensed Milk in Hong Kong (million USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| Netherlands | 40.0 | 50.4 | 48.3 | 50.1 | 45.7 | 38.4 | 32.3 | 30.2 | 30.0 | 25.5 | 28.9 |
| Malaysia | 10.5 | 11.5 | 11.2 | 13.9 | 13.1 | 13.7 | 13.0 | 11.4 | 16.1 | 19.2 | 21.0 |
| Thailand | 12.8 | 14.2 | 12.7 | 11.1 | 9.0 | 9.0 | 9.5 | 10.5 | 10.2 | 9.7 | 9.6 |
| Singapore | 12.4 | 12.5 | 11.3 | 4.8 | 4.1 | 4.4 | 4.2 | 3.7 | 3.9 | 3.9 | 5.0 |
| China | 9.3 | 6.6 | 4.5 | 5.0 | 4.5 | 5.2 | 4.1 | 4.3 | 4.1 | 5.1 | 3.3 |
| Australia | 3.3 | 1.1 | 1.0 | 0.9 | 0.6 | 0.8 | 0.5 | 0.7 | 0.6 | 0.7 | 1.2 |
| Lithuania | N/A | 0.3 | 0.5 | 1.3 | 1.9 | 3.4 | 4.5 | 3.7 | 2.2 | 2.6 | 0.7 |
| Others | 90.1 | 98.3 | 91.3 | 89.1 | 81.3 | 78.2 | 72.0 | 68.3 | 70.0 | 70.4 | 73.6 |
| Total | 178 | 195 | 181 | 176 | 160 | 153 | 140 | 133 | 137 | 137 | 143 |
Imports by Country
the Netherlands (17K tons), Malaysia (14K tons) and Thailand (7.2K tons) were the main suppliers of evaporated and condensed milk imports to Hong Kong, with a combined 43% share of total imports. Singapore, China, Australia and Lithuania lagged somewhat behind, together accounting for a further 5.8%.
From 2013 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Lithuania (with a CAGR of +7.4%), while imports for the other leaders experienced mixed trend patterns.
In value terms, the Netherlands ($29M), Malaysia ($21M) and Thailand ($9.6M) constituted the largest evaporated and condensed milk suppliers to Hong Kong, with a combined 42% share of total imports. Singapore, China, Australia and Lithuania lagged somewhat behind, together comprising a further 7.2%.
Lithuania, with a CAGR of +9.4%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.
Imports by Type
In 2023, condensed or evaporated milk (unsweetened) (78K tons) constituted the largest type of evaporated and condensed milk supplied to Hong Kong, accounting for a 89% share of total imports. Moreover, condensed or evaporated milk (unsweetened) exceeded the figures recorded for the second-largest type, condensed or evaporated milk (sweetened) (9.3K tons), eightfold.
From 2013 to 2023, the average annual rate of growth in terms of the volume of condensed or evaporated milk (unsweetened) imports totaled -1.9%.
In value terms, condensed or evaporated milk (unsweetened) ($125M) constituted the largest type of evaporated and condensed milk supplied to Hong Kong, comprising 87% of total imports. The second position in the ranking was held by condensed or evaporated milk (sweetened) ($18M), with a 13% share of total imports.
Import Prices by Country
In 2023, the evaporated and condensed milk price amounted to $1,648 per ton (CIF, Hong Kong), almost unchanged from the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 an increase of 11%. Over the period under review, average import prices hit record highs at $1,734 per ton in 2014; however, from 2015 to 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was China ($2,502 per ton), while the price for Thailand ($1,341 per ton) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was attained by China (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.
This report provides an in-depth analysis of the market for evaporated and condensed milk 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 889 - Whole Milk, Condensed
- FCL 894 - Whole Milk, Evaporated
- FCL 895 - Skim Milk, Evaporated
- FCL 896 - Skim Milk, Condensed
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- 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, PRODUCING ANIMALS AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2024
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2024
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Per Capita Consumption In 2012-2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
- Trade Balance, In Physical Terms, 2012-2024
- Trade Balance, In Value Terms, 2012-2024
- Per Capita Consumption, 2012-2024
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield 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, 2012–2024
- Production, In Value Terms, 2012–2024
- Producing Animals Slaughtered, 2012–2024
- Yield, 2012–2024
- Imports, In Physical Terms, 2012–2024
- Imports, In Value Terms, 2012–2024
- 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 Of Origin, 2012–2024
- Exports, In Physical Terms, 2012–2024
- Exports, In Value Terms, 2012–2024
- 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 Of Destination, 2012–2024
