Hong Kong SAR, China: Market for Dog And Cat Food 2024

Market Size for Dog And Cat Food in Hong Kong SAR, China

In 2021, after three years of decline, there was significant growth in the Hong Kong dog and cat food market, when its value increased by 17% to $X. The market value increased at an average annual rate of +5.7% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Dog and cat food consumption peaked in 2021 and is expected to retain growth in the immediate term.

Exports of Dog And Cat Food

Exports from Hong Kong SAR, China

In 2021, after two years of growth, there was significant decline in shipments abroad of dog and cat food, when their volume decreased by -52.6% to X tons. In general, exports, however, recorded moderate growth. The most prominent rate of growth was recorded in 2014 with an increase of 81%. The exports peaked at X tons in 2020, and then contracted markedly in the following year.

In value terms, dog and cat food exports reduced markedly to $X in 2021. Overall, exports, however, continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2017 with an increase of 136% against the previous year. The exports peaked at $X in 2020, and then reduced sharply in the following year.

Exports by Country

China (X tons) was the main destination for dog and cat food exports from Hong Kong SAR, with a 67% share of total exports. Moreover, dog and cat food exports to China exceeded the volume sent to the second major destination, Macao SAR (X tons), twofold. The third position in this ranking was held by the United States (X tons), with a 3.5% share.

From 2012 to 2021, the average annual growth rate of volume to China stood at +40.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (+16.3% per year) and the United States (-13.4% per year).

In value terms, the largest markets for dog and cat food exported from Hong Kong SAR were China ($X), Macao SAR ($X) and the United States ($X), together comprising 99% of total exports.

In terms of the main countries of destination, China, with a CAGR of +54.2%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average dog and cat food export price stood at $X per ton in 2021, with an increase of 3.9% against the previous year. Overall, the export price recorded a buoyant increase. The pace of growth appeared the most rapid in 2017 an increase of 45% against the previous year. Over the period under review, the average export prices attained the maximum in 2021 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Macao SAR ($X per ton), while the average price for exports to Vietnam ($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 Vietnam (+14.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Dog And Cat Food

Imports into Hong Kong SAR, China

Dog and cat food imports into Hong Kong SAR dropped rapidly to X tons in 2021, which is down by -23.8% against the previous year. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 22% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2020, and then shrank remarkably in the following year.

In value terms, dog and cat food imports fell to $X in 2021. Over the period under review, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +8.3% against 2017 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 29%. Imports peaked at $X in 2020, and then contracted in the following year.

Imports by Country

The United States (X tons), Thailand (X tons) and South Korea (X tons) were the main suppliers of dog and cat food imports to Hong Kong SAR, together comprising 53% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +56.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest dog and cat food suppliers to Hong Kong SAR were the United States ($X), Thailand ($X) and Japan ($X), with a combined 52% share of total imports. China, Canada, Germany, the Netherlands, New Zealand, South Korea, the UK, Australia, France and Italy lagged somewhat behind, together comprising a further 34%.

In terms of the main suppliers, South Korea, with a CAGR of +41.2%, saw the highest growth rate of 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 dog and cat food import price stood at $X per ton in 2021, increasing by 16% against the previous year. In general, import price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, dog and cat food import price increased by +90.1% against 2012 indices. The pace of growth was the most pronounced in 2013 an increase of 17% against the previous year. The import price peaked in 2021 and is expected to retain growth in the near future.

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 Japan ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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