Hong Kong SAR, China: Market for Candies, Sweets, and Nonchocolate Confectionery 2024

Market Size for Candies, Sweets, and Nonchocolate Confectionery in Hong Kong SAR, China

The Hong Kong market for candies, sweets, and nonchocolate confectionery contracted to $X in 2022, declining by X% against the previous year. Overall, consumption, however, showed slight growth. Candy, sweets, and nonchocolate confectionery consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Candies, Sweets, and Nonchocolate Confectionery in Hong Kong SAR, China

In value terms, candy, sweets, and nonchocolate confectionery production shrank to $X in 2022 estimated in export price. Overall, production, however, showed a buoyant increase. The growth pace was the most rapid in 2018 with an increase of X%. Candy, sweets, and nonchocolate confectionery production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Candies, Sweets, and Nonchocolate Confectionery

Exports from Hong Kong SAR, China

In 2022, the amount of candies, sweets, and nonchocolate confectionery exported from Hong Kong SAR declined to X tons, shrinking by X% compared with the previous year's figure. Overall, exports continue to indicate a mild downturn. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, candy, sweets, and nonchocolate confectionery exports reduced to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X, and then dropped in the following year.

Exports by Country

China (X tons) was the main destination for candy, sweets, and nonchocolate confectionery exports from Hong Kong SAR, accounting for a X% share of total exports. Moreover, candy, sweets, and nonchocolate confectionery exports to China exceeded the volume sent to the second major destination, Macao SAR (X tons), threefold. The United States (X tons) ranked third in terms of total exports with a X% share.

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

In value terms, China ($X) remains the key foreign market for candies, sweets, and nonchocolate confectionery exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was taken by Macao SAR ($X), with a X% share of total exports. It was followed by the United States, with a X% share.

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

Export Prices by Country

The average export price for candies, sweets, and nonchocolate confectionery stood at $X per ton in 2022, falling 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 2014 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2021, and then contracted in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Canada ($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 Australia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Candies, Sweets, and Nonchocolate Confectionery

Imports into Hong Kong SAR, China

In 2022, approx. X tons of candies, sweets, and nonchocolate confectionery were imported into Hong Kong SAR; dropping by X% on the previous year. Overall, imports showed a abrupt setback. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, candy, sweets, and nonchocolate confectionery imports declined dramatically to $X in 2022. In general, imports continue to indicate a pronounced decline. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Japan (X tons), China (X tons) and Germany (X tons) were the main suppliers of candy, sweets, and nonchocolate confectionery imports to Hong Kong SAR, together comprising X% of total imports. The United States, Thailand, Malaysia, Taiwan (Chinese), the UK, Turkey, Indonesia and South Korea lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest candy, sweets, and nonchocolate confectionery suppliers to Hong Kong SAR were Japan ($X), China ($X) and Germany ($X), with a combined X% share of total imports. The United States, Thailand, Taiwan (Chinese), the UK, Malaysia, Turkey, Indonesia and South Korea lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Turkey, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average import price for candies, sweets, and nonchocolate confectionery amounted to $X per ton, almost unchanged from the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2018; however, from 2019 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 Japan ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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