We use cookies to improve your experience and for marketing. Read our cookie policy or manage cookies.

Accept essential cookies
Accept all cookies
Hong Kong SAR, China - Dried Milk - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Nov 1, 2024

Hong Kong SAR, China - Dried Milk - Market Analysis, Forecast, Size, Trends and Insights

Single report
Sent by email within 24h (Mon-Fri)
What's the difference?
Subscription
Online access and download
from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing
May 4, 2023

Hong Kong Powdered Milk Price Drops 2%, Averaging $12.5 per kg

Hong Kong Powdered Milk Import Price in January 2023

In January 2023, the powdered milk price amounted to $12,484 per ton (CIF, Hong Kong), reducing by -1.5% against the previous month. Over the period under review, the import price showed a mild contraction. The growth pace was the most rapid in May 2022 an increase of 28% m-o-m. As a result, import price reached the peak level of $16,040 per ton. From June 2022 to January 2023, the average import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was China ($24,290 per ton), while the price for the United States ($4,250 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 Australia (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.

COUNTRYImport Price of Powdered Milk in Hong Kong (USD per ton)
Jan 2022Feb 2022Mar 2022Apr 2022May 2022Jun 2022Jul 2022Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023
China21,61723,22625,02121,69925,73729,85017,05322,56821,80123,98726,47427,48324,290
Ireland17,86826,06513,3919,79715,49113,45912,64810,67915,58927,45314,50513,30617,116
Japan14,07010,23912,68012,25114,42510,41112,7109,30512,98014,67412,42811,56513,446
Germany19,06711,21823,96728,04017,79318,55013,14418,33917,22224,34610,75210,23513,051
New Zealand11,93013,45512,48211,71813,15713,46612,66913,02513,0748,77010,0097,40212,169
Netherlands20,18517,04417,09211,71818,96019,24422,49416,75813,74915,97315,97019,1279,883
Australia5,8827,5438,82210,06911,13710,3989,4587,34410,53315,6347,98610,2639,160
Malaysia6,6766,6167,5706,9246,6036,4367,1226,8968,4777,8179,3628,0517,580
Taiwan (Chinese)7,4735,9867,5136,7757,1396,9587,3707,2167,4497,3677,2377,8047,131
United States6,0379,6123,3804,1085,5504,16517,5564,440N/A4,3794,4514,3624,250
Average14,46913,39013,21512,57716,04015,70213,42213,45913,61812,62913,57412,68012,484

Hong Kong Powdered Milk Import Prices by Type

There were significant differences in the average prices amongst the major supplied products. In January 2023, the product with the highest price was dairy produce; milk and cream, concentrated, not containing added sugar or other sweetening matter, in powder, granules or other solid forms, of a fat content exceeding 1.5% (by weight) ($13,950 per ton), while the price for dairy produce; milk and cream, containing added sugar or other sweetening matter, in powder, granules or other solid forms, of a fat content exceeding 1.5% (by weight) ($2,405 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 dairy produce; milk and cream, concentrated or containing added sugar or other sweetening matter, in powder, granules or other solid forms, of a fat content not exceeding 1.5% (by weight) (+1.7%), while the prices for the other products experienced a decline.

Hong Kong Powdered Milk Imports

In January 2023, imports of powdered milk into Hong Kong rose rapidly to 2.1K tons, with an increase of 12% against December 2022 figures. In general, imports, however, continue to indicate a perceptible shrinkage. The pace of growth was the most pronounced in April 2022 when imports increased by 39% month-to-month.

In value terms, powdered milk imports reached $26M (IndexBox estimates) in January 2023. Overall, imports, however, recorded a noticeable setback. The most prominent rate of growth was recorded in May 2022 when imports increased by 42% month-to-month. As a result, imports attained the peak of $63M. From June 2022 to January 2023, the growth of imports remained at a lower figure.

Hong Kong Powdered Milk Imports by Type

In January 2023, dairy produce; milk and cream, concentrated, not containing added sugar or other sweetening matter, in powder, granules or other solid forms, of a fat content exceeding 1.5% (by weight) (1.8K tons) constituted the largest type of powdered milk supplied to Hong Kong, accounting for a 84% share of total imports. Moreover, dairy produce; milk and cream, concentrated, not containing added sugar or other sweetening matter, in powder, granules or other solid forms, of a fat content exceeding 1.5% (by weight) exceeded the figures recorded for the second-largest type, dairy produce (333 tons), fivefold.

From January 2022 to January 2023, the average monthly growth rate of the volume of import of dairy produce; milk and cream, concentrated, not containing added sugar or other sweetening matter, in powder, granules or other solid forms, of a fat content exceeding 1.5% (by weight) totaled -3.7%. With regard to the other supplied products, the following average monthly rates of growth were recorded: dairy produce (-0.7% per month) and dairy produce; milk and cream, containing added sugar or other sweetening matter, in powder, granules or other solid forms, of a fat content exceeding 1.5% (by weight) (+0.4% per month).

In value terms, dairy produce; milk and cream, concentrated, not containing added sugar or other sweetening matter, in powder, granules or other solid forms, of a fat content exceeding 1.5% (by weight) ($25M) constituted the largest type of powdered milk supplied to Hong Kong, comprising 94% of total imports. The second position in the ranking was held by dairy produce ($1.6M), with a 6.1% share of total imports.

Hong Kong Powdered Milk Imports by Country

New Zealand (562 tons), the Netherlands (388 tons) and China (271 tons) were the main suppliers of powdered milk imports to Hong Kong, with a combined 58% share of total imports. These countries were followed by Australia, Germany, Taiwan (Chinese), Malaysia, the United States, Ireland and Japan, which together accounted for a further 37%.

From January 2022 to January 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +16.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest powdered milk suppliers to Hong Kong were New Zealand ($6.8M), China ($6.6M) and the Netherlands ($3.8M), with a combined 66% share of total imports. These countries were followed by Australia, Germany, Ireland, Taiwan (Chinese), Malaysia, Japan and the United States, which together accounted for a further 30%.

Germany, with a CAGR of +13.3%, recorded 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 more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the powdered 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 897 - Dry Whole Cow Milk
  • FCL 898 - Dry Skim Cow 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. COUNTRIES WITH TOP YIELDS
    4. TOP EXPORTING COUNTRIES
    5. 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, PRODUCING ANIMALS AND YIELD

  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. Yield And Growth
    16. Exports And Growth
    17. Export Prices And Growth
    18. Market Size And Growth
    19. Per Capita Consumption
    20. Imports And Growth
    21. Import Prices
    22. Production, In Physical Terms, 2012–2023
    23. Production, In Value Terms, 2012–2023
    24. Producing Animals Slaughtered, 2012–2023
    25. Yield, 2012–2023
    26. Imports, In Physical Terms, 2012–2023
    27. Imports, In Value Terms, 2012–2023
    28. Imports, In Physical Terms, By Country, 2023
    29. Imports, In Physical Terms, By Country, 2012–2023
    30. Imports, In Value Terms, By Country, 2012–2023
    31. Import Prices, By Country Of Origin, 2012–2023
    32. Exports, In Physical Terms, 2012–2023
    33. Exports, In Value Terms, 2012–2023
    34. Exports, In Physical Terms, By Country, 2023
    35. Exports, In Physical Terms, By Country, 2012–2023
    36. Exports, In Value Terms, By Country, 2012–2023
    37. Export Prices, By Country Of Destination, 2012–2023

Recommended posts

Free Data: Dried Milk - Hong Kong SAR
Table
Dried Milk - Hong Kong SAR - Table
Dashboard
Dried Milk - Hong Kong SAR - Dashboard
Report
Dried Milk - Hong Kong SAR - Report