Hong Kong SAR, China: Coffee Extract Market 2024

Coffee Extract Market Size in Hong Kong SAR, China

The Hong Kong coffee extract market reached $X in 2021, picking up by 13% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +60.5% against 2017 indices. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Coffee Extract Exports

Exports from Hong Kong SAR, China

In 2021, overseas shipments of coffee extracts, essences and concentrates increased by 20% to X tons, rising for the second year in a row after two years of decline. In general, exports posted a resilient expansion. The pace of growth was the most pronounced in 2016 when exports increased by 259% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, coffee extract exports soared to $X in 2021. Overall, exports continue to indicate noticeable growth. The most prominent rate of growth was recorded in 2016 with an increase of 305% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons), Macao SAR (X tons) and Singapore (X tons) were the main destinations of coffee extract exports from Hong Kong SAR, together accounting for 93% of total exports. Saudi Arabia and Kenya lagged somewhat behind, together accounting for a further 3.7%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Saudi Arabia (with a CAGR of +16.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for coffee extract exported from Hong Kong SAR were China ($X), Macao SAR ($X) and Saudi Arabia ($X), together accounting for 86% of total exports. These countries were followed by Singapore and Kenya, which together accounted for a further 8.2%.

Among the main countries of destination, Kenya, with a CAGR of +27.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average coffee extract export price amounted to $X per ton, rising by 5.1% against the previous year. Over the period under review, the export price, however, recorded a noticeable downturn. The most prominent rate of growth was recorded in 2016 when the average export price increased by 13% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Kenya (+17.1%), while the prices for the other major destinations experienced mixed trend patterns.

Coffee Extract Imports

Imports into Hong Kong SAR, China

Coffee extract imports into Hong Kong SAR skyrocketed to X tons in 2021, picking up by 19% on 2020. Overall, imports recorded a prominent increase. The most prominent rate of growth was recorded in 2016 when imports increased by 95%. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, coffee extract imports amounted to $X in 2021. In general, imports recorded measured growth. The pace of growth appeared the most rapid in 2016 when imports increased by 93%. Imports peaked at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of coffee extract to Hong Kong SAR, with a 57% share of total imports. Moreover, coffee extract imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), threefold. Indonesia (X tons) ranked third in terms of total imports with a 5.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +21.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+2.0% per year) and Indonesia (+5.2% per year).

In value terms, China ($X), Malaysia ($X) and Japan ($X) were the largest coffee extract suppliers to Hong Kong SAR, with a combined 68% share of total imports. These countries were followed by Singapore, Indonesia, Vietnam and the United States, which together accounted for a further 14%.

In terms of the main suppliers, Singapore, with a CAGR of +13.9%, saw 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

The average coffee extract import price stood at $X per ton in 2021, with a decrease of -7.3% against the previous year. Overall, the import price saw a pronounced slump. The growth pace was the most rapid in 2017 an increase of 8.8%. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($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 United States (+11.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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