Hong Kong SAR, China: Milk Market 2024

Milk Market Size in Hong Kong SAR, China

The Hong Kong milk market stood at $X in 2022, growing by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Milk Production in Hong Kong SAR, China

In value terms, milk production stood at $X in 2022 estimated in export price. Over the period under review, the total production indicated a modest 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Milk Exports

Exports from Hong Kong SAR, China

In 2022, shipments abroad of milk increased by X% to X tons for the first time since 2017, thus ending a four-year declining trend. Overall, exports saw a temperate expansion. The most prominent rate of growth was recorded in 2016 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, milk exports rose modestly to $X in 2022. In general, total exports indicated tangible growth 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, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2016 when exports increased by X%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Macao SAR (X tons) was the main destination for milk exports from Hong Kong SAR, with a X% share of total exports. It was followed by China (X tons), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Macao SAR stood at X%.

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

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

Export Prices by Country

The average milk export price stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. Over the period under review, export price indicated a mild increase from 2012 to 2022: its price 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, milk export price increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2019 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2021, and then reduced slightly in the following year.

Average prices varied noticeably for the major external 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 China amounted to $X per ton.

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

Milk Imports

Imports into Hong Kong SAR, China

In 2022, approx. X tons of milk were imported into Hong Kong SAR; approximately equating the previous year's figure. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, milk imports totaled $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when imports increased by X%. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

China (X tons), Thailand (X tons) and Australia (X tons) were the main suppliers of milk imports to Hong Kong SAR, with a combined X% share of total imports. Vietnam, Japan, France, Belgium, Germany, New Zealand, Poland, the United States and Indonesia 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 Poland (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), China ($X) and Australia ($X) constituted the largest milk suppliers to Hong Kong SAR, together accounting for X% of total imports. Japan, Vietnam, France, Germany, Belgium, the United States, New Zealand, Poland and Indonesia lagged somewhat behind, together accounting for a further X%.

Poland, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average milk import price amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; afterwards, it flattened through to 2022.

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

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

Source: IndexBox Platform

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