Hong Kong SAR, China: Sweet Biscuit Market 2024

Sweet Biscuit Market Size in Hong Kong SAR, China

In 2021, the Hong Kong sweet biscuit market decreased by -34.8% to $X, falling for the third consecutive year after four years of growth. In general, consumption recorded a perceptible descent. The most prominent rate of growth was recorded in 2018 when the market value increased by 6.7%. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Sweet Biscuit Production in Hong Kong SAR, China

In value terms, sweet biscuit production dropped to $X in 2021 estimated in export price. Overall, production recorded a perceptible descent. The most prominent rate of growth was recorded in 2020 when the production volume increased by 24% against the previous year. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Sweet Biscuit Exports

Exports from Hong Kong SAR, China

After two years of decline, shipments abroad of sweet biscuits increased by 49% to X tons in 2021. Over the period under review, exports, however, saw a relatively flat trend pattern. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, sweet biscuit exports skyrocketed to $X in 2021. In general, exports recorded a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons) was the main destination for sweet biscuit exports from Hong Kong SAR, with a 76% share of total exports. Moreover, sweet biscuit exports to China exceeded the volume sent to the second major destination, Macao SAR (X tons), sixfold. Singapore (X tons) ranked third in terms of total exports with a 2.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China stood at -1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (+5.8% per year) and Singapore (+20.6% per year).

In value terms, China ($X) remains the key foreign market for sweet biscuits exports from Hong Kong SAR, comprising 82% of total exports. The second position in the ranking was held by Macao SAR ($X), with a 9.3% share of total exports. It was followed by Taiwan (Chinese), with a 1.3% share.

From 2012 to 2021, the average annual growth rate of value to China stood at +19.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (+7.4% per year) and Taiwan (Chinese) (+59.7% per year).

Export Prices by Country

In 2021, the average sweet biscuit export price amounted to $X per ton, growing by 22% against the previous year. Over the period under review, the export price recorded prominent growth. The pace of growth appeared the most rapid in 2013 when the average export price increased by 63%. Over the period under review, the average export prices attained the peak figure in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was China ($X per ton), while the average price for exports to Singapore ($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 Vietnam (+23.6%), while the prices for the other major destinations experienced more modest paces of growth.

Sweet Biscuit Imports

Imports into Hong Kong SAR, China

In 2021, supplies from abroad of sweet biscuits decreased by -25.3% to X tons, falling for the second consecutive year after eight years of growth. Overall, total imports indicated a measured expansion from 2012 to 2021: its volume increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -26.1% against 2019 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 20% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, sweet biscuit imports contracted rapidly to $X in 2021. In general, imports, however, continue to indicate a noticeable increase. The most prominent rate of growth was recorded in 2017 when imports increased by 28% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Japan (X tons) and the UK (X tons) were the main suppliers of sweet biscuit imports to Hong Kong SAR, with a combined 62% share of total imports. These countries were followed by Denmark, Thailand, Malaysia, Indonesia, the Philippines, Taiwan (Chinese), Singapore, Italy and Macao SAR, which together accounted for a further 30%.

From 2012 to 2021, the biggest increases were recorded for Denmark (with a CAGR of +55.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest sweet biscuit suppliers to Hong Kong SAR were Japan ($X), Denmark ($X) and China ($X), with a combined 64% share of total imports.

Denmark, with a CAGR of +59.9%, recorded the highest rates of growth with regard to the value of imports, in terms of 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 sweet biscuit import price amounted to $X per ton, picking up by 8.7% against the previous year. In general, the import price showed a relatively flat trend pattern. Over the period under review, average import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+3.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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