Hong Kong SAR, China: Soft Drink Market 2024

Soft Drink Market Size in Hong Kong SAR, China

In 2021, after three years of decline, there was significant growth in the Hong Kong soft drink market, when its value increased by 16% to $X. In general, consumption saw pronounced growth. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Soft Drink Production in Hong Kong SAR, China

In value terms, soft drink production rose markedly to $X in 2021 estimated in export price. Over the period under review, production posted a remarkable increase. The pace of growth appeared the most rapid in 2016 when the production volume increased by 120% against the previous year. Soft drink production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Soft Drink Exports

Exports from Hong Kong SAR, China

In 2021, the amount of soft drinks exported from Hong Kong SAR declined to X litres, falling by -9.8% compared with the year before. In general, total exports indicated a measured expansion from 2012 to 2021: its volume increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -26.1% against 2019 indices. The growth pace was the most rapid in 2013 with an increase of 30% against the previous year. Over the period under review, the exports reached the peak figure at X litres in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, soft drink exports dropped to $X in 2021. Over the period under review, total exports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -29.7% against 2019 indices. The pace of growth appeared the most rapid in 2014 with an increase of 29%. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

China (X litres), Macao SAR (X litres) and the United States (X litres) were the main destinations of soft drink exports from Hong Kong SAR, together comprising 78% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +20.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for soft drink exported from Hong Kong SAR were China ($X), Macao SAR ($X) and the United States ($X), with a combined 83% share of total exports.

In terms of the main countries of destination, China, with a CAGR of +23.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average soft drink export price amounted to $X per litre, rising by 9.7% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 43%. As a result, the export price reached the peak level of $X per litre. From 2019 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Macao SAR ($X per litre), while the average price for exports to the United States ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+2.7%), while the prices for the other major destinations experienced more modest paces of growth.

Soft Drink Imports

Imports into Hong Kong SAR, China

In 2021, soft drink imports into Hong Kong SAR amounted to X litres, surging by 12% against the previous year. The total import volume increased at an average annual rate of +3.3% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 when imports increased by 20%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, soft drink imports expanded significantly to $X in 2021. The total import value increased at an average annual rate of +4.5% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when imports increased by 19% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, China (X litres) constituted the largest soft drink supplier to Hong Kong SAR, accounting for a 56% share of total imports. Moreover, soft drink imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X litres), fivefold. The third position in this ranking was taken by Japan (X litres), with an 8.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+1.7% per year) and Japan (+21.4% per year).

In value terms, China ($X) constituted the largest supplier of soft drink to Hong Kong SAR, comprising 39% of total imports. The second position in the ranking was taken by Japan ($X), with a 14% share of total imports. It was followed by Taiwan (Chinese), with a 9.9% share.

From 2012 to 2021, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+14.8% per year) and Taiwan (Chinese) (+1.6% per year).

Import Prices by Country

The average soft drink import price stood at $X per litre in 2021, shrinking by -1.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.1%. The pace of growth was the most pronounced in 2018 an increase of 24% against the previous year. As a result, import price reached the peak level of $X per litre. From 2019 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was South Korea ($X per litre), while the price for China ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+0.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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