Report Update Feb 1, 2025

Hong Kong SAR, China - Vanilla - Market Analysis, Forecast, Size, Trends and Insights

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Hong Kong SAR, China: Vanilla Market 2025

Vanilla Market Size in Hong Kong SAR, China

In 2022, the Hong Kong vanilla market increased by 57% to $X, rising for the second year in a row after three years of decline. Overall, consumption, however, showed a dramatic curtailment. Vanilla consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Vanilla Exports

Exports from Hong Kong SAR, China

In 2022, overseas shipments of vanilla decreased by -39.8% to X kg, falling for the second consecutive year after two years of growth. Overall, exports recorded a deep contraction. The pace of growth was the most pronounced in 2019 when exports increased by 155%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, vanilla exports contracted notably to $X in 2022. Over the period under review, exports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2019 with an increase of 141% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Canada (X kg) was the main destination for vanilla exports from Hong Kong SAR, with a approx. 100% share of total exports.

From 2017 to 2022, the average annual growth rate of volume to Canada was relatively modest.

In value terms, Canada ($X) emerged as the key foreign market for vanilla exports from Hong Kong SAR.

From 2017 to 2022, the average annual rate of growth in terms of value to Canada totaled -14.4%.

Export Prices by Country

The average vanilla export price stood at $X per ton in 2022, remaining constant against the previous year. Over the period under review, the export price, however, saw a deep downturn. The most prominent rate of growth was recorded in 2018 an increase of 16% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Canada.

From 2017 to 2022, the rate of growth in terms of prices for Canada amounted to -14.6% per year.

Vanilla Imports

Imports into Hong Kong SAR, China

In 2022, overseas purchases of vanilla increased by 14% to X tons, rising for the second year in a row after three years of decline. Over the period under review, imports, however, saw a sharp decline. The pace of growth was the most pronounced in 2021 when imports increased by 37% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, vanilla imports fell to $X in 2022. Overall, imports, however, continue to indicate a sharp descent. The growth pace was the most rapid in 2021 when imports increased by 23% against the previous year. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, France (X tons) constituted the largest vanilla supplier to Hong Kong SAR, with a 59% share of total imports. Moreover, vanilla imports from France exceeded the figures recorded by the second-largest supplier, Indonesia (X kg), fourfold. Japan (X kg) ranked third in terms of total imports with a 6.9% share.

From 2017 to 2022, the average annual rate of growth in terms of volume from France stood at -20.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+32.0% per year) and Japan (+144.9% per year).

In value terms, France ($X) constituted the largest supplier of vanilla to Hong Kong SAR, comprising 43% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 21% share of total imports. It was followed by the Netherlands, with a 14% share.

From 2017 to 2022, the average annual rate of growth in terms of value from France stood at -24.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+245.0% per year) and the Netherlands (+8.1% per year).

Import Prices by Country

The average vanilla import price stood at $X per ton in 2022, falling by -18.4% against the previous year. Overall, the import price, however, continues to indicate strong growth. The most prominent rate of growth was recorded in 2020 an increase of 182% against the previous year. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+161.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for vanilla in the world?

The country with the largest volume of vanilla consumption was Indonesia, accounting for 31% of total volume. Moreover, vanilla consumption in Indonesia exceeded the figures recorded by the second-largest consumer, the United States, twofold. Mexico ranked third in terms of total consumption with a 6.9% share.

What are the largest producers of vanilla in the world?

The countries with the highest volumes of vanilla production in 2020 were Indonesia, Madagascar and Mexico, with a combined 73% share of global production. These countries were followed by Papua New Guinea, China, Turkey and Uganda, which together accounted for a further 21%.

What are the leading suppliers of vanilla to Hong Kong SAR, China?

In value terms, France constituted the largest supplier of vanilla to Hong Kong SAR, comprising 67% of total imports. The second position in the ranking was occupied by the Netherlands, with an 18% share of total imports. It was followed by Germany, with an 8.3% share.

What are the leading importers of vanilla from Hong Kong SAR, China?

In value terms, Macao SAR emerged as the key foreign market for vanilla exports from Hong Kong SAR, comprising 90% of total exports. The second position in the ranking was occupied by Canada, with an 8.5% share of total exports.

What is the average export price for vanilla in Hong Kong SAR, China?

In 2020, the average vanilla export price amounted to $13,112 per ton, falling by -77.9% against the previous year.

What is the average import price for vanilla in Hong Kong SAR, China?

The average vanilla import price stood at $137,500 per ton in 2020, growing by 182% against the previous year.

This report provides an in-depth analysis of the vanilla market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 692 - Vanilla

Country coverage:

Hong Kong SAR

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Hong Kong SAR, China
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption In 2012-2024
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country Of Origin, 2012–2024
8. Exports, In Physical Terms, By Country, 2012–2024
9. Exports, In Value Terms, By Country, 2012–2024
10. Export Prices, By Country Of Destination, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
5. Trade Balance, In Physical Terms, 2012-2024
6. Trade Balance, In Value Terms, 2012-2024
7. Per Capita Consumption, 2012-2024
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2024
22. Production, In Value Terms, 2012–2024
23. Imports, In Physical Terms, 2012–2024
24. Imports, In Value Terms, 2012–2024
25. Imports, In Physical Terms, By Country, 2024
26. Imports, In Physical Terms, By Country, 2012–2024
27. Imports, In Value Terms, By Country, 2012–2024
28. Import Prices, By Country Of Origin, 2012–2024
29. Exports, In Physical Terms, 2012–2024
30. Exports, In Value Terms, 2012–2024
31. Exports, In Physical Terms, By Country, 2024
32. Exports, In Physical Terms, By Country, 2012–2024
33. Exports, In Value Terms, By Country, 2012–2024
34. Export Prices, By Country Of Destination, 2012–2024