Hong Kong SAR, China: Sugary Soft Drink Market 2024

Sugary Soft Drink Market Size in Hong Kong SAR, China

The Hong Kong sugary soft drink market declined to $X in 2022, with a decrease of -7.6% against the previous year. Overall, the total consumption indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +6.7% against 2020 indices. Sugary soft drink consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Sugary Soft Drink Production in Hong Kong SAR, China

In value terms, sugary soft drink production contracted to $X in 2022 estimated in export price. In general, the total production indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +8.1% against 2020 indices. The growth pace was the most rapid in 2015 with an increase of 60%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Sugary Soft Drink Exports

Exports from Hong Kong SAR, China

In 2022, after two years of growth, there was significant decline in overseas shipments of sugary soft drinks, when their volume decreased by -20.6% to X litres. Over the period under review, exports, however, recorded perceptible growth. The most prominent rate of growth was recorded in 2017 with an increase of 124%. As a result, the exports attained the peak of X litres. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, sugary soft drink exports fell to $X in 2022. Overall, exports, however, continue to indicate pronounced growth. The growth pace was the most rapid in 2017 when exports increased by 104%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Mongolia (X litres), Macao SAR (X litres) and China (X litres) were the main destinations of sugary soft drink exports from Hong Kong SAR, together comprising 94% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +25.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sugary soft drink exported from Hong Kong SAR were Macao SAR ($X), Mongolia ($X) and China ($X), with a combined 92% share of total exports.

Among the main countries of destination, China, with a CAGR of +16.0%, recorded the highest rates of growth with regard to 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

The average sugary soft drink export price stood at $X per litre in 2022, growing by 10% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 19% against the previous year. As a result, the export price reached the peak level of $X per litre. From 2015 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Macao SAR ($X per litre), while the average price for exports to China ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Northern Mariana Islands (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Sugary Soft Drink Imports

Imports into Hong Kong SAR, China

In 2022, after three years of growth, there was significant decline in overseas purchases of sugary soft drinks, when their volume decreased by -29% to X litres. The total import volume increased at an average annual rate of +1.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 21%. Imports peaked at X litres in 2021, and then shrank rapidly in the following year.

In value terms, sugary soft drink imports contracted notably to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when imports increased by 33%. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X litres) constituted the largest supplier of sugary soft drink to Hong Kong SAR, accounting for a 77% share of total imports. Moreover, sugary soft drink imports from China exceeded the figures recorded by the second-largest supplier, Japan (X litres), more than tenfold. Malaysia (X litres) ranked third in terms of total imports with a 3.6% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+19.3% per year) and Malaysia (-3.6% per year).

In value terms, China ($X) constituted the largest supplier of sugary soft drinks to Hong Kong SAR, comprising 63% of total imports. The second position in the ranking was held by Japan ($X), with a 10% share of total imports. It was followed by Taiwan (Chinese), with a 4.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+15.5% per year) and Taiwan (Chinese) (-2.3% per year).

Import Prices by Country

In 2022, the average sugary soft drink import price amounted to $X per litre, increasing by 11% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average import price increased by 14%. As a result, import price reached the peak level of $X per litre. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

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 Japan ($X per litre), while the price for South Korea ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+8.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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