Hong Kong SAR, China: Confectionery-Making Industrial Machinery Market 2024

Confectionery-Making Industrial Machinery Market Size in Hong Kong SAR, China

For the third consecutive year, the Hong Kong confectionery-making industrial machinery market recorded decline in sales value, which decreased by 99.9% to less than $X in 2022. Overall, consumption, however, showed a mild increase. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Confectionery-Making Industrial Machinery Exports

Exports from Hong Kong SAR, China

In 2022, overseas shipments of industrial machinery for the manufacture or preparation of confectionery, cocoa or chocolate increased by 33% to X units, rising for the third year in a row after two years of decline. Overall, exports, however, recorded a dramatic downturn. The most prominent rate of growth was recorded in 2017 with an increase of 1,167%. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, confectionery-making industrial machinery exports rose remarkably to $X in 2022. Over the period under review, exports, however, saw a dramatic curtailment. The pace of growth was the most pronounced in 2017 when exports increased by 228%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units), France (X units) and China (X units) were the main destinations of confectionery-making industrial machinery exports from Hong Kong SAR, with a combined 75% share of total exports.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of 0.0%), while shipments for the other leaders experienced a decline.

In value terms, the United States ($X), France ($X) and China ($X) were the largest markets for confectionery-making industrial machinery exported from Hong Kong SAR worldwide, with a combined 68% share of total exports.

France, with a CAGR of +73.4%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average confectionery-making industrial machinery export price amounted to $X per unit, which is down by -11.4% against the previous year. Over the period under review, the export price, however, continues to indicate a noticeable increase. The growth pace was the most rapid in 2016 when the average export price increased by 435% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2017 to 2022, the average export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+22.9%), while the prices for the other major destinations experienced more modest paces of growth.

Confectionery-Making Industrial Machinery Imports

Imports into Hong Kong SAR, China

In 2022, imports of industrial machinery for the manufacture or preparation of confectionery, cocoa or chocolate into Hong Kong SAR dropped sharply to X units, falling by -42.9% against the previous year's figure. Over the period under review, imports faced a abrupt curtailment. The pace of growth appeared the most rapid in 2014 with an increase of 200% against the previous year. Over the period under review, imports hit record highs at X units in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, confectionery-making industrial machinery imports contracted significantly to $X in 2022. Overall, imports faced a deep slump. The most prominent rate of growth was recorded in 2014 with an increase of 256% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

Belgium (X units) and Italy (X units) were the main suppliers of confectionery-making industrial machinery imports to Hong Kong SAR. Moreover, confectionery-making industrial machinery imports in Belgium exceeded the figures recorded by the second-largest supplier, Italy, twofold.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of 0.0%).

In value terms, the largest confectionery-making industrial machinery suppliers to Hong Kong SAR were Belgium ($X), Italy ($X) and China ($X), together accounting for 96% of total imports.

Among the main suppliers, China, with a CAGR of +6.1%, 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 confectionery-making industrial machinery import price stood at $X per unit in 2022, therefore, remained relatively stable against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2014 when the average import price increased by 19% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United States ($X per unit) and China ($X per unit), while the price for Italy ($X per unit) and Belgium ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+20.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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