Hong Kong SAR, China: Prepared Baking Powder Market 2024

Prepared Baking Powder Market Size in Hong Kong SAR, China

The Hong Kong prepared baking powder market soared to $X in 2022, with an increase of 51% against the previous year. Over the period under review, consumption, however, continues to indicate a slight contraction. Prepared baking powder consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Prepared Baking Powder Production in Hong Kong SAR, China

In value terms, prepared baking powder production soared to $X in 2022 estimated in export price. Overall, production saw a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 1,681% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Prepared Baking Powder Exports

Exports from Hong Kong SAR, China

In 2022, the amount of prepared baking powders exported from Hong Kong SAR dropped remarkably to X tons, falling by -18.7% compared with 2021. In general, exports showed a deep contraction. The pace of growth appeared the most rapid in 2018 with an increase of 25%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, prepared baking powder exports contracted to $X in 2022. Overall, exports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2016 when exports increased by 18% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Netherlands (X tons) was the main destination for prepared baking powder exports from Hong Kong SAR, with a 59% share of total exports. Moreover, prepared baking powder exports to the Netherlands exceeded the volume sent to the second major destination, Macao SAR (X tons), twofold. The third position in this ranking was taken by Vietnam (X tons), with a 6.7% share.

From 2012 to 2022, the average annual growth rate of volume to the Netherlands was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (+3.7% per year) and Vietnam (-20.6% per year).

In value terms, the Netherlands ($X) remains the key foreign market for prepared baking powders exports from Hong Kong SAR, comprising 53% of total exports. The second position in the ranking was taken by Macao SAR ($X), with a 22% share of total exports. It was followed by Vietnam, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Netherlands stood at +2.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (+0.5% per year) and Vietnam (-12.5% per year).

Export Prices by Country

In 2022, the average prepared baking powder export price amounted to $X per ton, rising by 16% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Macao SAR ($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 Vietnam (+10.2%), while the prices for the other major destinations experienced more modest paces of growth.

Prepared Baking Powder Imports

Imports into Hong Kong SAR, China

In 2022, overseas purchases of prepared baking powders increased by 22% to X tons, rising for the second consecutive year after four years of decline. In general, imports, however, saw a abrupt slump. The growth pace was the most rapid in 2016 with an increase of 35%. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, prepared baking powder imports skyrocketed to $X in 2022. Overall, imports, however, saw a pronounced reduction. The growth pace was the most rapid in 2018 when imports increased by 58% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X tons), Singapore (X tons) and Malaysia (X tons) were the main suppliers of prepared baking powder imports to Hong Kong SAR, with a combined 78% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Singapore (with a CAGR of +16.7%), while imports for the other leaders experienced mixed trend patterns.

In value terms, China ($X), Singapore ($X) and Malaysia ($X) constituted the largest prepared baking powder suppliers to Hong Kong SAR, together comprising 77% of total imports.

In terms of the main suppliers, Singapore, with a CAGR of +18.8%, 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

In 2022, the average prepared baking powder import price amounted to $X per ton, picking up by 6.8% against the previous year. Over the period under review, import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, prepared baking powder import price increased by +80.0% against 2017 indices. The most prominent rate of growth was recorded in 2018 an increase of 69% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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