Hong Kong SAR, China: Yoghurt Market 2024

Yoghurt Market Size in Hong Kong SAR, China

The Hong Kong yoghurt market totaled $X in 2022, increasing by 2.2% 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 saw resilient growth. Yoghurt consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Yoghurt Exports

Exports from Hong Kong SAR, China

In 2022, the amount of yoghurt exported from Hong Kong SAR shrank remarkably to X tons, with a decrease of -23.3% compared with the year before. In general, exports continue to indicate a abrupt downturn. The pace of growth was the most pronounced in 2021 with an increase of 70% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, yoghurt exports contracted to $X in 2022. Overall, exports, however, recorded a resilient increase. The pace of growth appeared the most rapid in 2013 with an increase of 144%. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Macao SAR (X tons) was the main destination for yoghurt exports from Hong Kong SAR, with a 95% share of total exports. Moreover, yoghurt exports to Macao SAR exceeded the volume sent to the second major destination, China (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Macao SAR amounted to -7.5%.

In value terms, Macao SAR ($X) remains the key foreign market for yoghurt exports from Hong Kong SAR, comprising 67% of total exports. The second position in the ranking was held by China ($X), with a 33% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Macao SAR stood at +1.0%.

Export Prices by Country

The average yoghurt export price stood at $X per ton in 2022, increasing by 21% against the previous year. In general, the export price continues to indicate a strong expansion. The pace of growth was the most pronounced in 2013 an increase of 57% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Macao SAR totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+29.9%), while the prices for the other major destinations experienced more modest paces of growth.

Yoghurt Imports

Imports into Hong Kong SAR, China

In 2022, after five years of growth, there was decline in purchases abroad of yoghurt, when their volume decreased by -0.8% to X tons. In general, total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +7.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +41.8% against 2016 indices. The pace of growth was the most pronounced in 2014 when imports increased by 30%. Over the period under review, imports reached the peak figure at X tons in 2021, and then dropped in the following year.

In value terms, yoghurt imports totaled $X in 2022. Over the period under review, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +8.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -1.3% against 2020 indices. The pace of growth was the most pronounced in 2014 with an increase of 42% against the previous year. Over the period under review, imports attained the maximum at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons), Switzerland (X tons) and Australia (X tons) were the main suppliers of yoghurt imports to Hong Kong SAR, together comprising 52% of total imports.

From 2012 to 2022, the biggest increases were recorded for Switzerland (with a CAGR of +22.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Switzerland ($X), the UK ($X) and Australia ($X) appeared to be the largest yoghurt suppliers to Hong Kong SAR, together accounting for 43% of total imports.

Switzerland, with a CAGR of +24.4%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average yoghurt import price stood at $X per ton in 2022, growing by 2.2% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 9.3% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, import prices stood 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 the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+15.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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