Hong Kong SAR, China: Confectionery Market 2024

Confectionery Market Size in Hong Kong SAR, China

The Hong Kong confectionery market contracted to $X in 2022, reducing by X% against the previous year. Over the period under review, the total consumption indicated a tangible expansion 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, consumption decreased by X% against 2019 indices. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Confectionery Production in Hong Kong SAR, China

In value terms, confectionery production dropped to $X in 2022 estimated in export price. In general, the total production indicated a strong 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. Based on 2022 figures, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Confectionery Exports

Exports from Hong Kong SAR, China

In 2022, the amount of confectionery exported from Hong Kong SAR contracted to X tons, falling by X% compared with 2021. Overall, exports continue to indicate a slight descent. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, confectionery exports fell notably to $X in 2022. In general, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for confectionery exports from Hong Kong SAR, with a X% share of total exports. Moreover, confectionery exports to China exceeded the volume sent to the second major destination, Macao SAR (X tons), fourfold. The United States (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at 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).

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

From 2012 to 2022, the average annual growth rate 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 South Korea (X% per year).

Export Prices by Country

In 2022, the average confectionery export price amounted to $X per ton, declining by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2014 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Canada ($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 Australia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Confectionery Imports

Imports into Hong Kong SAR, China

In 2022, approx. X tons of confectionery were imported into Hong Kong SAR; dropping by X% against 2021 figures. Over the period under review, imports continue to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, confectionery imports reduced to $X in 2022. In general, imports showed a slight decline. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), Japan (X tons) and Italy (X tons) were the main suppliers of confectionery imports to Hong Kong SAR, together accounting for X% of total imports. Germany, the United States, the UK, Singapore, Belgium, the Netherlands, Taiwan (Chinese), Malaysia, Australia and Thailand lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Singapore (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and Italy ($X) constituted the largest confectionery suppliers to Hong Kong SAR, with a combined X% share of total imports. Belgium, Germany, the United States, the Netherlands, the UK, Singapore, Australia, Taiwan (Chinese), Thailand and Malaysia lagged somewhat behind, together accounting for a further X%.

Singapore, with a CAGR of X%, recorded 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

The average confectionery import price stood at $X per ton in 2022, leveling off at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2014 when the average import price increased by X%. Over the period under review, average import prices reached the peak figure at $X per ton in 2021, and then declined in the following year.

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

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :