Hong Kong SAR, China: Tea Market 2025

Tea Market Size in Hong Kong SAR, China

The Hong Kong tea market contracted rapidly to $X in 2022, waning by -15.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, posted buoyant growth. Tea consumption peaked at $X in 2021, and then contracted rapidly in the following year.

Tea Exports

Exports from Hong Kong SAR, China

In 2022, overseas shipments of tea decreased by -44.4% to X tons, falling for the second consecutive year after two years of growth. In general, exports saw a pronounced shrinkage. The pace of growth was the most pronounced in 2020 when exports increased by 412% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, tea exports dropped dramatically to $X in 2022. Over the period under review, exports, however, showed a noticeable increase. The growth pace was the most rapid in 2020 when exports increased by 553%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Vietnam (X tons), Australia (X tons) and the United States (X tons) were the main destinations of tea exports from Hong Kong SAR, together comprising 75% 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 Vietnam (with a CAGR of +25.2%), while the other leaders experienced mixed trend patterns.

In value terms, Vietnam ($X) remains the key foreign market for tea exports from Hong Kong SAR, comprising 53% of total exports. The second position in the ranking was held by the United States ($X), with an 11% share of total exports. It was followed by Australia, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Vietnam amounted to +68.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-0.7% per year) and Australia (+14.5% per year).

Export Prices by Country

The average tea export price stood at $X per ton in 2022, with an increase of 28% against the previous year. Over the period under review, export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +7.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tea export price increased by +81.5% against 2019 indices. The pace of growth appeared the most rapid in 2020 when the average export price increased by 28%. The export price peaked in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Australia ($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 (+34.6%), while the prices for the other major destinations experienced more modest paces of growth.

Tea Imports

Imports into Hong Kong SAR, China

In 2022, overseas purchases of tea decreased by -26% to X tons for the first time since 2017, thus ending a four-year rising trend. In general, imports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of 32% against the previous year. As a result, imports attained the peak of X tons, and then contracted dramatically in the following year.

In value terms, tea imports fell dramatically to $X in 2022. Overall, imports, however, continue to indicate a strong increase. The growth pace was the most rapid in 2016 with an increase of 47%. Over the period under review, imports reached the peak figure at $X in 2021, and then fell dramatically in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest tea supplier to Hong Kong SAR, accounting for a 63% share of total imports. Moreover, tea imports from China exceeded the figures recorded by the second-largest supplier, Sri Lanka (X tons), fourfold. Japan (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +10.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Sri Lanka (-1.6% per year) and Japan (+18.8% per year).

In value terms, China ($X) constituted the largest supplier of tea to Hong Kong SAR, comprising 81% of total imports. The second position in the ranking was held by Sri Lanka ($X), with a 7.5% share of total imports. It was followed by Taiwan (Chinese), with a 3.7% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +19.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Sri Lanka (+0.7% per year) and Taiwan (Chinese) (+10.8% per year).

Import Prices by Country

The average tea import price stood at $X per ton in 2022, picking up by 14% against the previous year. Overall, import price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tea import price increased by +89.3% against 2012 indices. The most prominent rate of growth was recorded in 2016 when the average import price increased by 20%. The import price peaked in 2022 and is expected to retain growth in the near future.

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 China ($X per ton), while the price for Japan ($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 (+8.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :