Hong Kong SAR, China: Market for Cocoa Powder (Containing Added Sugar) 2024

Market Size for Cocoa Powder (Containing Added Sugar) in Hong Kong SAR, China

In 2021, the Hong Kong cocoa powder with sugar market decreased by -1.5% to $X, falling for the third year in a row after two years of growth. Over the period under review, consumption, however, continues to indicate a slight shrinkage. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Cocoa Powder (Containing Added Sugar) in Hong Kong SAR, China

In value terms, cocoa powder with sugar production totaled $X in 2021 estimated in export price. In general, production saw a modest expansion. The most prominent rate of growth was recorded in 2016 with an increase of 39% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Cocoa Powder (Containing Added Sugar)

Exports from Hong Kong SAR, China

In 2021, the amount of cocoa powder (containing added sugar) exported from Hong Kong SAR contracted to X tons, declining by -12.4% compared with the previous year. Over the period under review, exports showed a abrupt curtailment. The growth pace was the most rapid in 2019 with an increase of 202% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, cocoa powder with sugar exports declined notably to $X in 2021. In general, exports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2019 when exports increased by 110%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Macao SAR (X tons) was the main destination for cocoa powder with sugar exports from Hong Kong SAR, accounting for a 79% share of total exports. Moreover, cocoa powder with sugar exports to Macao SAR exceeded the volume sent to the second major destination, China (X tons), fourfold.

From 2012 to 2021, the average annual growth rate of volume to Macao SAR stood at +6.3%.

In value terms, Macao SAR ($X) remains the key foreign market for cocoa powder (containing added sugar) exports from Hong Kong SAR, comprising 80% of total exports. The second position in the ranking was held by China ($X), with a 20% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Macao SAR stood at +5.9%.

Export Prices by Country

In 2021, the average cocoa powder with sugar export price amounted to $X per ton, with a decrease of -8.5% against the previous year. In general, the export price showed a noticeable decrease. The pace of growth appeared the most rapid in 2020 when the average export price increased by 27%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Macao SAR ($X per ton), while the average price for exports to China totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Macao SAR (-0.4%), while the prices for the other major destinations experienced a decline.

Imports of Cocoa Powder (Containing Added Sugar)

Imports into Hong Kong SAR, China

In 2021, approx. X tons of cocoa powder (containing added sugar) were imported into Hong Kong SAR; with a decrease of -19.8% compared with the previous year's figure. In general, imports showed a abrupt setback. The most prominent rate of growth was recorded in 2014 when imports increased by 92%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, cocoa powder with sugar imports shrank to $X in 2021. Overall, imports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of 104% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest cocoa powder with sugar supplier to Hong Kong SAR, accounting for a 49% share of total imports. Moreover, cocoa powder with sugar imports from the United States exceeded the figures recorded by the second-largest supplier, Singapore (X tons), fourfold. The third position in this ranking was taken by France (X tons), with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from the United States totaled +12.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+6.5% per year) and France (-12.2% per year).

In value terms, the United States ($X) constituted the largest supplier of cocoa powder (containing added sugar) to Hong Kong SAR, comprising 45% of total imports. The second position in the ranking was held by France ($X), with a 20% share of total imports. It was followed by South Korea, with a 7.7% share.

From 2012 to 2021, the average annual growth rate of value from the United States amounted to +15.1%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-9.8% per year) and South Korea (+8.0% per year).

Import Prices by Country

The average cocoa powder with sugar import price stood at $X per ton in 2021, increasing by 14% against the previous year. Over the period under review, the import price, however, recorded a slight decrease. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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