Hong Kong SAR, China: Market for Crispbread, Rusks and Toasted Bread 2024

Market Size for Crispbread, Rusks and Toasted Bread in Hong Kong SAR, China

In 2022, the Hong Kong market for crispbread, rusks and toasted bread decreased by -0.1% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption continues to indicate a mild decline. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

Production of Crispbread, Rusks and Toasted Bread in Hong Kong SAR, China

In value terms, crispbread, rusk and toasted bread production amounted to $X in 2022 estimated in export price. In general, production, however, continues to indicate a pronounced curtailment. The pace of growth was the most pronounced in 2015 when the production volume increased by 86%. As a result, production reached the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Exports of Crispbread, Rusks and Toasted Bread

Exports from Hong Kong SAR, China

In 2022, shipments abroad of crispbread, rusks and toasted bread decreased by -65.3% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 118%. The exports peaked at X tons in 2021, and then fell dramatically in the following year.

In value terms, crispbread, rusk and toasted bread exports plummeted to $X in 2022. Over the period under review, exports, however, recorded a buoyant expansion. The pace of growth was the most pronounced in 2015 with an increase of 200% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then contracted rapidly in the following year.

Exports by Country

Macao SAR (X tons) was the main destination for crispbread, rusk and toasted bread exports from Hong Kong SAR, accounting for a 85% share of total exports. Moreover, crispbread, rusk and toasted bread exports to Macao SAR exceeded the volume sent to the second major destination, China (X tons), tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Macao SAR totaled +10.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-1.0% per year) and Mauritius (+33.2% per year).

In value terms, Macao SAR ($X) remains the key foreign market for crispbread, rusks and toasted bread exports from Hong Kong SAR, comprising 91% of total exports. The second position in the ranking was taken by China ($X), with a 5.5% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Macao SAR stood at +19.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+5.1% per year) and Mauritius (+35.1% per year).

Export Prices by Country

The average export price for crispbread, rusks and toasted bread stood at $X per ton in 2022, increasing by 46% against the previous year. Overall, export price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, crispbread, rusk and toasted bread export price decreased by -3.9% against 2020 indices. Over the period under review, the average export prices reached the maximum at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

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 Macao SAR ($X per ton), while the average price for exports to Mauritius ($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 (+123.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Crispbread, Rusks and Toasted Bread

Imports into Hong Kong SAR, China

Crispbread, rusk and toasted bread imports into Hong Kong SAR dropped dramatically to X tons in 2022, with a decrease of -27.5% on 2021. In general, total imports indicated temperate growth from 2012 to 2022: its volume increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -28.8% against 2018 indices. The most prominent rate of growth was recorded in 2015 with an increase of 18% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, crispbread, rusk and toasted bread imports declined rapidly to $X in 2022. Over the period under review, total imports indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when imports increased by 31%. Over the period under review, imports attained the peak figure at $X in 2021, and then reduced sharply in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of crispbread, rusk and toasted bread to Hong Kong SAR, accounting for a 61% share of total imports. Moreover, crispbread, rusk and toasted bread imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), fourfold. The third position in this ranking was held by Japan (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +8.7%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-2.3% per year) and Japan (+1.7% per year).

In value terms, China ($X) constituted the largest supplier of crispbread, rusks and toasted bread to Hong Kong SAR, comprising 54% of total imports. The second position in the ranking was taken by Japan ($X), with an 18% share of total imports. It was followed by South Korea, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-4.9% per year) and South Korea (-0.5% per year).

Import Prices by Country

In 2022, the average import price for crispbread, rusks and toasted bread amounted to $X per ton, with a decrease of -11.1% against the previous year. Overall, the import price continues to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2015 an increase of 12% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+1.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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