Hong Kong SAR, China: Market for Buttermilk And Buttermilk Powder 2024

Market Size for Buttermilk And Buttermilk Powder in Hong Kong SAR, China

In 2022, the Hong Kong buttermilk and buttermilk powder market increased by 8% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Buttermilk and buttermilk powder consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Production of Buttermilk And Buttermilk Powder in Hong Kong SAR, China

In value terms, buttermilk and buttermilk powder production declined to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a abrupt setback. The pace of growth appeared the most rapid in 2021 when the production volume increased by 16% against the previous year. Buttermilk and buttermilk powder production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Buttermilk And Buttermilk Powder

Exports from Hong Kong SAR, China

In 2022, shipments abroad of buttermilk and buttermilk powder decreased by -8.3% to X tons, falling for the second year in a row after two years of growth. Overall, exports saw a abrupt setback. The pace of growth appeared the most rapid in 2014 with an increase of 15%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, buttermilk and buttermilk powder exports reduced slightly to $X in 2022. Over the period under review, exports saw a noticeable descent. The pace of growth was the most pronounced in 2014 with an increase of 19%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Macao SAR (X tons) was the main destination for buttermilk and buttermilk powder exports from Hong Kong SAR, with a 78% share of total exports. Moreover, buttermilk and buttermilk powder exports to Macao SAR exceeded the volume sent to the second major destination, China (X tons), fourfold.

From 2012 to 2022, the average annual growth rate of volume to Macao SAR amounted to -7.9%.

In value terms, Macao SAR ($X) remains the key foreign market for buttermilk and buttermilk powder exports from Hong Kong SAR, comprising 76% of total exports. The second position in the ranking was taken by China ($X), with a 24% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Macao SAR stood at -6.2%.

Export Prices by Country

The average buttermilk and buttermilk powder export price stood at $X per ton in 2022, surging by 5.1% against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The pace of growth appeared the most rapid in 2021 when the average export price increased by 37% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Macao SAR stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Macao SAR (+1.9%).

Imports of Buttermilk And Buttermilk Powder

Imports into Hong Kong SAR, China

In 2022, the amount of buttermilk and buttermilk powder imported into Hong Kong SAR skyrocketed to X tons, increasing by 33% on the year before. Over the period under review, imports showed a significant expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 544% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, buttermilk and buttermilk powder imports expanded significantly to $X in 2022. In general, imports recorded significant growth. The most prominent rate of growth was recorded in 2014 when imports increased by 551% against the previous year. Over the period under review, imports attained the maximum at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of buttermilk and buttermilk powder to Hong Kong SAR, accounting for a 74% share of total imports. Moreover, buttermilk and buttermilk powder imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), fivefold. Thailand (X tons) ranked third in terms of total imports with a 3.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +53.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+70.1% per year) and Thailand (+23.8% per year).

In value terms, China ($X) constituted the largest supplier of buttermilk and buttermilk powder to Hong Kong SAR, comprising 67% of total imports. The second position in the ranking was held by Vietnam ($X), with a 14% share of total imports. It was followed by Switzerland, with a 7.8% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +46.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+100.1% per year) and Switzerland (+1.1% per year).

Import Prices by Country

The average buttermilk and buttermilk powder import price stood at $X per ton in 2022, reducing by -16.5% against the previous year. In general, the import price recorded a abrupt curtailment. The pace of growth was the most pronounced in 2021 an increase of 9.3% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+17.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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