Hong Kong SAR, China: Market for Candies, Sweets, and Nonchocolate Confectionery 2024

Market Size for Candies, Sweets, and Nonchocolate Confectionery in Hong Kong SAR, China

The Hong Kong market for candies, sweets, and nonchocolate confectionery declined to $X in 2022, which is down by -9.9% against the previous year. Overall, consumption, however, recorded a slight expansion. Candy, sweets, and nonchocolate confectionery consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Candies, Sweets, and Nonchocolate Confectionery in Hong Kong SAR, China

In value terms, candy, sweets, and nonchocolate confectionery production reduced to $X in 2022 estimated in export price. In general, production, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2018 when the production volume increased by 108%. Candy, sweets, and nonchocolate confectionery production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Candies, Sweets, and Nonchocolate Confectionery

Exports from Hong Kong SAR, China

In 2022, approx. X tons of candies, sweets, and nonchocolate confectionery were exported from Hong Kong SAR; declining by -3.7% on 2021. Over the period under review, exports recorded a slight contraction. The most prominent rate of growth was recorded in 2021 with an increase of 32% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, candy, sweets, and nonchocolate confectionery exports fell to $X in 2022. The total export value increased at an average annual rate of +1.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 47% against the previous year. As a result, the exports attained the peak of $X, and then contracted in the following year.

Exports by Country

China (X tons) was the main destination for candy, sweets, and nonchocolate confectionery exports from Hong Kong SAR, with a 62% share of total exports. Moreover, candy, sweets, and nonchocolate confectionery exports to China exceeded the volume sent to the second major destination, Macao SAR (X tons), threefold. The third position in this ranking was taken by the United States (X tons), with a 5% share.

From 2012 to 2022, the average annual growth rate of volume to China amounted to +2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (+2.2% per year) and the United States (-14.2% per year).

In value terms, China ($X) remains the key foreign market for candies, sweets, and nonchocolate confectionery exports from Hong Kong SAR, comprising 61% of total exports. The second position in the ranking was taken by Macao SAR ($X), with a 24% share of total exports. It was followed by the United States, with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China totaled +5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (+2.7% per year) and the United States (-12.1% per year).

Export Prices by Country

The average export price for candies, sweets, and nonchocolate confectionery stood at $X per ton in 2022, dropping by -8.6% against the previous year. Over the last decade, it increased at an average annual rate of +2.7%. The most prominent rate of growth was recorded in 2014 when the average export price increased by 17%. Over the period under review, the average export prices attained the maximum at $X per ton in 2021, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Canada ($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 (+9.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Candies, Sweets, and Nonchocolate Confectionery

Imports into Hong Kong SAR, China

In 2022, candy, sweets, and nonchocolate confectionery imports into Hong Kong SAR declined to X tons, which is down by -15% compared with 2021 figures. In general, imports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 13% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, candy, sweets, and nonchocolate confectionery imports fell markedly to $X in 2022. Over the period under review, imports saw a noticeable contraction. The pace of growth was the most pronounced in 2021 when imports increased by 14%. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Japan (X tons), China (X tons) and Germany (X tons) were the main suppliers of candy, sweets, and nonchocolate confectionery imports to Hong Kong SAR, together accounting for 64% of total imports. The United States, Thailand, Malaysia, Taiwan (Chinese), the UK, Turkey, Indonesia and South Korea lagged somewhat behind, together comprising a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +12.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and Germany ($X) appeared to be the largest candy, sweets, and nonchocolate confectionery suppliers to Hong Kong SAR, together comprising 64% of total imports. The United States, Thailand, Taiwan (Chinese), the UK, Malaysia, Turkey, Indonesia and South Korea lagged somewhat behind, together accounting for a further 28%.

Turkey, with a CAGR of +11.1%, saw 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 mixed trend patterns.

Import Prices by Country

In 2022, the average import price for candies, sweets, and nonchocolate confectionery amounted to $X per ton, leveling off at the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The pace of growth was the most pronounced in 2013 an increase of 5.7% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Indonesia ($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 (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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