Hong Kong SAR, China: Market for Butter And Dairy Spreads 2024

Market Size for Butter And Dairy Spreads in Hong Kong SAR, China

In 2022, the Hong Kong butter and dairy spreads market increased by X% to $X, rising for the second year in a row after three years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Butter and dairy spreads consumption peaked in 2022 and is likely to see steady growth in the near future.

Exports of Butter And Dairy Spreads

Exports from Hong Kong SAR, China

In 2022, butter and dairy spreads exports from Hong Kong SAR declined significantly to X tons, waning by X% compared with the previous year's figure. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, butter and dairy spreads exports contracted to $X in 2022. In general, total exports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Macao SAR (X tons) was the main destination for butter and dairy spreads exports from Hong Kong SAR, with a X% share of total exports. Moreover, butter and dairy spreads exports to Macao SAR exceeded the volume sent to the second major destination, the Philippines (X tons), more than tenfold. Singapore (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Macao SAR stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (X% per year) and Singapore (X% per year).

In value terms, Macao SAR ($X) remains the key foreign market for butter and dairy spreads exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was held by Singapore ($X), with a X% share of total exports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Macao SAR amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (X% per year) and China (X% per year).

Export Prices by Country

The average butter and dairy spreads export price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, export price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when the average export price increased by X%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

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 Macao SAR ($X per ton), while the average price for exports to the Philippines ($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 China (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Butter And Dairy Spreads

Imports into Hong Kong SAR, China

In 2022, approx. X tons of butter and dairy spreads were imported into Hong Kong SAR; waning by X% on the previous year's figure. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports reached the peak of X tons, and then fell slightly in the following year.

In value terms, butter and dairy spreads imports rose rapidly to $X in 2022. Overall, total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

New Zealand (X tons), France (X tons) and Australia (X tons) were the main suppliers of butter and dairy spreads imports to Hong Kong SAR, with a combined X% share of total imports. Malaysia, Denmark, Japan and the United States lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest butter and dairy spreads suppliers to Hong Kong SAR were New Zealand ($X), France ($X) and Australia ($X), with a combined X% share of total imports. Denmark, Malaysia, Japan and the United States lagged somewhat behind, together accounting for a further X%.

Japan, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average butter and dairy spreads import price amounted to $X per ton, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2017 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was New Zealand ($X per ton), while the price for the United States ($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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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