Hong Kong SAR, China: Market for Rusks, Toasted Bread and Similar Toasted Products 2024

Market Size for Rusks, Toasted Bread and Similar Toasted Products in Hong Kong SAR, China

In 2021, after three years of growth, there was significant decline in the Hong Kong rusks and toasted bread market, when its value decreased by -9.6% to $X. Overall, the total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +34.6% against 2017 indices. Rusks and toasted bread consumption peaked at $X in 2020, and then contracted in the following year.

Production of Rusks, Toasted Bread and Similar Toasted Products in Hong Kong SAR, China

In value terms, rusks and toasted bread production reduced to $X in 2021 estimated in export price. Over the period under review, the total production indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +51.9% against 2018 indices. The growth pace was the most rapid in 2013 with an increase of 45% against the previous year. Rusks and toasted bread production peaked at $X in 2020, and then fell in the following year.

Exports of Rusks, Toasted Bread and Similar Toasted Products

Exports from Hong Kong SAR, China

In 2021, the amount of rusks, toasted bread and similar toasted products exported from Hong Kong SAR skyrocketed to X tons, surging by 46% compared with the previous year's figure. In general, exports showed a buoyant expansion. The pace of growth was the most pronounced in 2015 when exports increased by 130%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in years to come.

In value terms, rusks and toasted bread exports surged to $X in 2021. Over the period under review, exports enjoyed prominent growth. The pace of growth was the most pronounced in 2015 when exports increased by 228%. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

Macao SAR (X tons), China (X tons) and South Africa (X kg) were the main destinations of rusks and toasted bread exports from Hong Kong SAR, together comprising 99% of total exports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +26.6%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Macao SAR ($X) remains the key foreign market for rusks, toasted bread and similar toasted products exports from Hong Kong SAR, comprising 75% of total exports. The second position in the ranking was held by China ($X), with a 25% share of total exports. It was followed by South Africa, with less than 0.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Macao SAR stood at +28.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+34.8% per year) and South Africa (-34.4% per year).

Export Prices by Country

The average rusks and toasted bread export price stood at $X per ton in 2021, with a decrease of -11.6% against the previous year. In general, export price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, rusks and toasted bread export price increased by +14.2% against 2018 indices. The most prominent rate of growth was recorded in 2015 an increase of 43%. The export price peaked at $X per ton in 2020, and then reduced in the following year.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Macao SAR ($X per ton), while the average price for exports to South Africa ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+123.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Rusks, Toasted Bread and Similar Toasted Products

Imports into Hong Kong SAR, China

In 2021, purchases abroad of rusks, toasted bread and similar toasted products was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +7.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 when imports increased by 25%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, rusks and toasted bread imports expanded markedly to $X in 2021. Overall, total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 35%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of rusks and toasted bread to Hong Kong SAR, accounting for a 58% share of total imports. Moreover, rusks and toasted bread imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold. South Korea (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +13.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+10.3% per year) and South Korea (+1.0% per year).

In value terms, China ($X), Japan ($X) and South Korea ($X) appeared to be the largest rusks and toasted bread suppliers to Hong Kong SAR, with a combined 88% share of total imports. These countries were followed by Thailand, the Philippines, Malaysia and Vietnam, which together accounted for a further 8.6%.

Malaysia, with a CAGR of +20.8%, 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 more modest paces of growth.

Import Prices by Country

In 2021, the average rusks and toasted bread import price amounted to $X per ton, approximately equating the previous year. In general, the import price showed a mild downturn. The most prominent rate of growth was recorded in 2015 when the average import price increased by 7.7%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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