Hong Kong SAR, China: Bread And Bakery Market 2024

Bread And Bakery Market Size in Hong Kong SAR, China

After two years of decline, the Hong Kong bread and bakery market increased by X% to $X in 2022. Overall, the total consumption indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Bread And Bakery Production in Hong Kong SAR, China

In value terms, bread and bakery production dropped modestly to $X in 2022 estimated in export price. Over the period under review, the total production indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of X%. Bread and bakery production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Bread And Bakery Exports

Exports from Hong Kong SAR, China

In 2022, exports of bread and bakery from Hong Kong SAR contracted notably to X tons, with a decrease of X% against 2021. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons, and then dropped rapidly in the following year.

In value terms, bread and bakery exports reached $X in 2022. In general, exports, however, continue to indicate a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

China (X tons), Macao SAR (X tons) and the Philippines (X tons) were the main destinations of bread and bakery exports from Hong Kong SAR, together accounting for X% of total exports.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for bread and bakery exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was taken by Macao SAR ($X), with a X% share of total exports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (X% per year) and the United States (X% per year).

Export Prices by Country

The average bread and bakery export price stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the export price enjoyed a resilient expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Bread And Bakery Imports

Imports into Hong Kong SAR, China

Bread and bakery imports into Hong Kong SAR shrank slightly to X tons in 2022, remaining stable against the year before. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, bread and bakery imports rose modestly to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of bread and bakery to Hong Kong SAR, accounting for a X% share of total imports. Moreover, bread and bakery imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold. The third position in this ranking was held by the UK (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and the UK (X% per year).

In value terms, the largest bread and bakery suppliers to Hong Kong SAR were China ($X), Japan ($X) and Taiwan (Chinese) ($X), with a combined X% share of total imports. The UK, South Korea, Indonesia, Denmark, France, Italy, Malaysia, the United States, Thailand and the Philippines lagged somewhat behind, together comprising a further X%.

South Korea, with a CAGR of X%, 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.

Import Prices by Country

In 2022, the average bread and bakery import price amounted to $X per ton, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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