Report Update: May 1, 2024

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

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Powdered Milk Price in Hong Kong SAR - 2023

Powdered Milk Price in Hong Kong SAR (CIF) - 2023

In August 2023, the average powdered milk import price amounted to $14,601 per ton, with an increase of 5.7% against the previous month. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in May 2023 an increase of 19% against the previous month. Over the period under review, average import prices hit record highs at $15,250 per ton in March 2023; however, from April 2023 to August 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In August 2023, the country with the highest price was Germany ($26,817 per ton), while the price for the United States ($3,002 per ton) was amongst the lowest.

From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Germany (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Powdered Milk Price in Hong Kong SAR (FOB) - 2023

In August 2023, the average powdered milk export price amounted to $25,096 per ton, shrinking by -3.4% against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.9%. The pace of growth appeared the most rapid in February 2023 an increase of 21% month-to-month. The export price peaked at $25,989 per ton in July 2023, and then shrank in the following month.

Average prices varied noticeably for the major export markets. In August 2023, the country with the highest price was China ($25,395 per ton), while the average price for exports to Macao SAR stood at $24,545 per ton.

From August 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (+2.2%).

Powdered Milk Imports in Hong Kong SAR

For the third consecutive year, Hong Kong SAR recorded decline in overseas purchases of powdered milk, which decreased by -21.6% to 37K tons in 2022. Overall, imports faced a precipitous decline. The smallest decline of -19% was in 2021.

In value terms, powdered milk imports dropped rapidly to $510M in 2022. Over the period under review, imports recorded a precipitous setback. The smallest decline of -15.3% was in 2021.

Import of Powdered Milk in Hong Kong SAR (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
New Zealand	285	244	238	209	-9.8%
China	361	149	239	115	-31.7%
Netherlands	397	240	106	80.1	-41.3%
Australia	140	85.2	45.5	25.1	-43.6%
Germany	65.0	18.9	14.6	19.7	-32.8%
Ireland	98.0	35.1	23.5	17.5	-43.7%
Malaysia	17.0	11.8	13.0	11.6	-12.0%
Taiwan (Chinese)	12.2	8.0	8.7	9.4	-8.3%
Japan	11.8	17.3	11.4	7.6	-13.6%
United States	10.8	4.1	4.6	2.7	-37.0%
Others	74.5	35.5	15.1	11.9	-45.7%
Total	1,472	849	719	510	-29.8%

Top Suppliers of Powdered Milk to Hong Kong SAR in 2022:

New Zealand (17.2K tons)
China (4.8K tons)
Netherlands (4.5K tons)
Australia (2.5K tons)
Malaysia (1.6K tons)
Taiwan (Chinese) (1.3K tons)
Ireland (1.3K tons)
Germany (1.0K tons)
Japan (0.6K tons)
United States (0.6K tons)

Powdered Milk Exports in Hong Kong SAR

Powdered milk exports from Hong Kong SAR dropped rapidly to 17K tons in 2022, waning by -22.7% against the previous year. Over the period under review, exports recorded a precipitous curtailment. The smallest decline of -18.4% was in 2021.

In value terms, powdered milk exports contracted sharply to $358M in 2022. In general, exports faced a significant contraction. The smallest decline of -10.9% was in 2021.

Export of Powdered Milk in Hong Kong SAR (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	780	410	364	293	-27.8%
Macao SAR	173	83.7	75.1	63.8	-28.3%
Others	0.6	0.3	0.3	0.6	0.0%
Total	954	494	440	358	-27.9%

Top Export Markets for Powdered Milk from Hong Kong SAR in 2022:

China (14.0K tons)
Macao SAR (2.9K tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the powdered milk 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 897 - Dry Whole Cow Milk
FCL 898 - Dry Skim Cow Milk

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. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. 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, PRODUCING ANIMALS AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
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 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
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. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Producing Animals Slaughtered, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023