Hong Kong SAR, China: Market for Condensed Or Evaporated Milk (Sweetened) 2024

Market Size for Condensed Or Evaporated Milk (Sweetened) in Hong Kong SAR, China

The Hong Kong market for condensed or evaporated milk (sweetened) contracted to $X in 2022, which is down by -10.4% 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). Over the period under review, consumption showed a abrupt contraction. The growth pace was the most rapid in 2020 with an increase of 2.9%. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Exports of Condensed Or Evaporated Milk (Sweetened)

Exports from Hong Kong SAR, China

After three years of decline, overseas shipments of condensed or evaporated milk (sweetened) increased by 6.7% to X tons in 2022. In general, exports, however, continue to indicate a pronounced setback. The pace of growth appeared the most rapid in 2013 when exports increased by 148% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, sweetened condensed and evaporated milk exports stood at $X in 2022. Overall, exports, however, showed a perceptible downturn. The pace of growth appeared the most rapid in 2013 when exports increased by 90%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Macao SAR (X tons) was the main destination for sweetened condensed and evaporated milk exports from Hong Kong SAR, with a 96% share of total exports. Moreover, sweetened condensed and evaporated milk 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 rate of growth in terms of volume to Macao SAR was relatively modest.

In value terms, Macao SAR ($X) remains the key foreign market for condensed or evaporated milk (sweetened) exports from Hong Kong SAR, comprising 96% of total exports. The second position in the ranking was taken by China ($X), with a 3.6% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Macao SAR was relatively modest.

Export Prices by Country

The average export price for condensed or evaporated milk (sweetened) stood at $X per ton in 2022, surging by 6.4% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 49%. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major external 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 (+6.5%), while the prices for the other major destinations experienced a decline.

Imports of Condensed Or Evaporated Milk (Sweetened)

Imports into Hong Kong SAR, China

In 2022, supplies from abroad of condensed or evaporated milk (sweetened) decreased by -15.8% to X tons, falling for the sixth consecutive year after two years of growth. Over the period under review, imports continue to indicate a abrupt descent. The pace of growth appeared the most rapid in 2016 when imports increased by 12%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, sweetened condensed and evaporated milk imports declined to $X in 2022. In general, imports showed a pronounced shrinkage. The pace of growth was the most pronounced in 2016 with an increase of 5.1%. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Thailand (X tons), China (X tons) and Malaysia (X tons) were the main suppliers of sweetened condensed and evaporated milk imports to Hong Kong SAR, together accounting for 81% of total imports. The Netherlands, Singapore, Australia and Taiwan (Chinese) lagged somewhat behind, together comprising a further 18%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of +46.1%), while imports for the other leaders experienced mixed trend patterns.

In value terms, China ($X), Thailand ($X) and Malaysia ($X) constituted the largest sweetened condensed and evaporated milk suppliers to Hong Kong SAR, with a combined 75% share of total imports. The Netherlands, Australia, Taiwan (Chinese) and Singapore lagged somewhat behind, together accounting for a further 23%.

Taiwan (Chinese), with a CAGR of +45.8%, saw 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 mixed trend patterns.

Import Prices by Country

The average import price for condensed or evaporated milk (sweetened) stood at $X per ton in 2022, surging by 10% against the previous year. In general, the import price saw a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 Australia ($X per ton), while the price for Malaysia ($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 Netherlands (+2.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :