Hong Kong SAR, China - Whole Fresh Milk - Market Analysis, Forecast, Size, Trends and Insights
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View Pricing2023 Sees Record $106M in Whole Fresh Milk Imports for Hong Kong
Hong Kong Whole Fresh Milk Imports
In 2023, approx. 90K tons of whole fresh milk were imported into Hong Kong; surging by 1.9% on the previous year's figure. The total import volume increased at an average annual rate of +3.3% from 2013 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 with an increase of 11% against the previous year. Imports peaked in 2023 and are likely to continue growth in the near future.
In value terms, whole fresh milk imports rose modestly to $106M (IndexBox estimates) in 2023. The total import value increased at an average annual rate of +3.6% over the period from 2013 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 with an increase of 9.9%. Imports peaked in 2023 and are expected to retain growth in the immediate term.
| COUNTRY | Import Value of Whole Fresh Milk in Hong Kong (million USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| Thailand | 9.9 | 16.8 | 22.5 | 18.2 | 14.6 | 13.9 | 16.8 | 21.7 | 23.0 | 28.2 | 31.4 |
| China | 19.6 | 22.1 | 22.4 | 19.5 | 19.5 | 23.8 | 20.9 | 21.4 | 21.4 | 23.1 | 22.6 |
| Australia | 16.1 | 16.1 | 17.4 | 16.4 | 17.8 | 20.4 | 20.6 | 17.2 | 18.7 | 15.4 | 14.0 |
| Japan | 5.7 | 6.3 | 6.1 | 6.9 | 7.2 | 8.5 | 10.0 | 12.4 | 12.3 | 12.1 | 11.2 |
| Vietnam | N/A | N/A | N/A | 2.2 | 8.1 | 7.8 | 8.7 | 9.1 | 8.0 | 7.1 | 6.1 |
| France | N/A | 0.4 | 0.9 | 1.2 | 1.1 | 1.4 | 1.2 | 2.0 | 2.6 | 2.9 | 3.3 |
| New Zealand | 3.0 | 2.1 | 1.4 | 1.0 | 1.4 | 0.6 | 0.9 | 0.8 | 1.0 | 1.3 | 3.3 |
| Belgium | 0.1 | 0.9 | 3.4 | 5.9 | 5.8 | 2.4 | 2.1 | 2.5 | 1.8 | 1.9 | 2.0 |
| United States | 4.0 | 4.6 | 4.3 | 3.4 | 3.5 | 3.3 | 3.2 | 1.9 | 1.7 | 1.7 | 0.7 |
| Others | 16.4 | 12.5 | 7.6 | 10.8 | 10.3 | 16.2 | 11.7 | 11.2 | 8.5 | 9.5 | 11.6 |
| Total | 74.8 | 81.7 | 86.0 | 85.3 | 89.4 | 98.3 | 96.1 | 100 | 99.0 | 103 | 106 |
Imports by Country
China (24K tons), Thailand (23K tons) and Australia (9.4K tons) were the main suppliers of whole fresh milk imports to Hong Kong, together accounting for 63% of total imports. Vietnam, Japan, New Zealand, France, Belgium and the United States lagged somewhat behind, together comprising a further 25%.
From 2013 to 2023, the biggest increases were recorded for Belgium (with a CAGR of +32.8%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, the largest whole fresh milk suppliers to Hong Kong were Thailand ($31M), China ($23M) and Australia ($14M), with a combined 64% share of total imports. Japan, Vietnam, New Zealand, France, Belgium and the United States lagged somewhat behind, together comprising a further 25%.
In terms of the main suppliers, Belgium, with a CAGR of +30.7%, recorded 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.
Import Prices by Country
In 2023, the whole fresh milk price amounted to $1,177 per ton (CIF, Hong Kong), remaining relatively unchanged against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average import price increased by 5.2% against the previous year. Over the period under review, average import prices attained the maximum at $1,181 per ton in 2014; however, from 2015 to 2023, import prices stood at a somewhat 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 Japan ($2,029 per ton), while the price for Belgium ($635 per ton) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Germany (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.
This report provides an in-depth analysis of the whole fresh 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
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 THE 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 EditionPRO
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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
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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
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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
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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
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7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
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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)
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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)
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
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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
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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
