Hong Kong SAR, China - Milk - Market Analysis, Forecast, Size, Trends and Insights
Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.
View PricingHong Kongs Import of Dairy Products Increases by 7% to Reach a New High of $10M in November 2023
Hong Kong Milk Imports
Milk imports into Hong Kong rose significantly to 8.9K tons in November 2023, increasing by 11% compared with October 2023 figures. The total import volume increased at an average monthly rate of +1.3% from November 2022 to November 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in March 2023 with an increase of 17% m-o-m. Over the period under review, imports hit record highs in November 2023.
In value terms, milk imports amounted to $10M (IndexBox estimates) in November 2023. The total import value increased at an average monthly rate of +1.1% from November 2022 to November 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain months. The most prominent rate of growth was recorded in March 2023 with an increase of 14% against the previous month. Imports peaked in November 2023.
| COUNTRY | Import Value of Milk 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 | |
| Thailand | 2.6 | 2.9 | 2.4 | 2.7 | 2.9 | 2.6 | 2.2 | 2.4 | 2.4 | 2.5 | 2.2 | 3.2 | 3.3 |
| China | 1.9 | 2.1 | 1.9 | 1.7 | 1.9 | 1.7 | 1.7 | 1.6 | 2.0 | 2.0 | 2.1 | 2.1 | 2.0 |
| Australia | 1.3 | 1.0 | 1.6 | 1.2 | 1.1 | 1.4 | 1.2 | 0.7 | 1.0 | 1.5 | 1.0 | 1.3 | 1.3 |
| Japan | 1.3 | 1.0 | 0.9 | 0.7 | 1.0 | 0.9 | 1.0 | 1.3 | 0.7 | 0.9 | 1.2 | 0.8 | 1.0 |
| Vietnam | 0.5 | 0.7 | 0.7 | 0.3 | 0.4 | 0.3 | 0.7 | 0.5 | 0.8 | 0.4 | 0.4 | 0.4 | 0.6 |
| New Zealand | 0.1 | 0.2 | 0.3 | 0.2 | 0.2 | 0.5 | 0.2 | 0.4 | 0.2 | 0.2 | 0.3 | 0.2 | 0.4 |
| France | < 0.1 | 0.4 | 0.3 | 0.2 | 0.4 | 0.2 | 0.4 | 0.3 | 0.3 | 0.3 | < 0.1 | 0.4 | 0.2 |
| Others | 1.2 | 1.0 | 0.7 | 1.3 | 1.6 | 1.1 | 1.3 | 1.1 | 1.0 | 1.5 | 1.2 | 1.1 | 1.6 |
| Total | 9.0 | 9.2 | 8.8 | 8.3 | 9.5 | 8.7 | 8.9 | 8.3 | 8.4 | 9.3 | 8.4 | 9.6 | 10.3 |
Imports by Country
Thailand (2.4K tons), China (2.2K tons) and Australia (839 tons) were the main suppliers of milk imports to Hong Kong, together accounting for 61% of total imports. Vietnam, Japan, New Zealand and France lagged somewhat behind, together accounting for a further 19%.
From November 2022 to November 2023, the biggest increases were in New Zealand (with a CAGR of +10.2%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, Thailand ($3.3M), China ($2M) and Australia ($1.3M) constituted the largest milk suppliers to Hong Kong, with a combined 64% share of total imports. Japan, Vietnam, New Zealand and France lagged somewhat behind, together accounting for a further 21%.
In terms of the main suppliers, New Zealand, with a CAGR of +9.3%, recorded the highest growth rate of the value of imports, 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) was the main type of milk supplied to Hong Kong, accounting for a 100% share of total imports. It was followed by skim milk (22 tons), with a 0.2% share of total imports.
From November 2022 to November 2023, the average monthly rate of growth in terms of the volume of import of whole fresh milk stood at +1.3%.
In value terms, whole fresh milk ($10M) constituted the largest type of milk supplied to Hong Kong, comprising 100% of total imports. The second position in the ranking was taken by skim milk ($33K), with a 0.3% share of total imports.
Import Prices by Country
In November 2023, the milk price stood at $1,159 per ton (CIF, Hong Kong), shrinking by -3.2% against the previous month. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in April 2023 an increase of 4.2% m-o-m. As a result, import price attained the peak level of $1,204 per ton; afterwards, it flattened through to November 2023.
Prices varied noticeably by the country of origin: the country with the highest price was Japan ($2,123 per ton), while the price for Belgium ($583 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 France (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.
This report provides an in-depth analysis of the milk 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 1130 - Camel milk
- FCL 882 - Cow milk, whole (fresh)
- FCL 1020 - Goat milk
- FCL 982 - Sheep milk
- FCL 951 - Buffalo milk
- FCL 888 - Skim Milk of Cows
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 TRENDS This 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
- COUNTRIES WITH TOP YIELDS
- 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
- Exports 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
- 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: Historical Data (2012–2024) and Forecast (2025–2035)
- Production, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Producing Animals: Historical Data (2012–2024) and Forecast (2025–2035)
- Yield: 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
