Hong Kong SAR, China: Market for Sweet Biscuits, Waffles and Wafers 2024

Market Size for Sweet Biscuits, Waffles and Wafers in Hong Kong SAR, China

The Hong Kong market for sweet biscuits, waffles and wafers was finally on the rise to reach $X in 2022, after three years of decline. Overall, consumption, however, showed a abrupt decline. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Sweet Biscuits, Waffles and Wafers in Hong Kong SAR, China

In value terms, sweet biscuit, waffle and wafer production stood at $X in 2022 estimated in export price. In general, production, however, showed a noticeable contraction. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Sweet biscuit, waffle and wafer production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Sweet Biscuits, Waffles and Wafers

Exports from Hong Kong SAR, China

In 2022, approx. X tons of sweet biscuits, waffles and wafers were exported from Hong Kong SAR; falling by X% compared with 2021 figures. Overall, exports continue to indicate a perceptible descent. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, sweet biscuit, waffle and wafer exports fell dramatically to $X in 2022. In general, exports, however, showed buoyant growth. 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 fell markedly in the following year.

Exports by Country

China (X tons) was the main destination for sweet biscuit, waffle and wafer exports from Hong Kong SAR, accounting for a X% share of total exports. Moreover, sweet biscuit, waffle and wafer exports to China exceeded the volume sent to the second major destination, Macao SAR (X tons), threefold. The third position in this ranking was held by Singapore (X tons), 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 Singapore (X% per year).

In value terms, China ($X) remains the key foreign market for sweet biscuits, waffles and wafers exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was taken by Macao SAR ($X), with an X% share of total exports. It was followed by South Korea, 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 South Korea (X% per year).

Export Prices by Country

In 2022, the average export price for sweet biscuits, waffles and wafers amounted to $X per ton, shrinking by X% against the previous year. In general, the export price, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2013 an increase of X%. Over the period under review, the average export prices hit record highs 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 South Korea ($X per ton), while the average price for exports to Australia ($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 more modest paces of growth.

Imports of Sweet Biscuits, Waffles and Wafers

Imports into Hong Kong SAR, China

In 2022, supplies from abroad of sweet biscuits, waffles and wafers decreased by X% to X tons, falling for the third consecutive year after eight years of growth. In general, total imports indicated a slight increase from 2012 to 2022: its volume 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 decreased by X% against 2019 indices. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, sweet biscuit, waffle and wafer imports declined to $X in 2022. Over the period under review, imports, however, showed a perceptible increase. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest sweet biscuit, waffle and wafer supplier to Hong Kong SAR, accounting for a X% share of total imports. Moreover, sweet biscuit, waffle and wafer imports from China exceeded the figures recorded by the second-largest supplier, the UK (X tons), threefold. Japan (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (X% per year) and Japan (X% per year).

In value terms, the largest sweet biscuit, waffle and wafer suppliers to Hong Kong SAR were China ($X), Japan ($X) and Denmark ($X), with a combined X% share of total imports.

In terms of the main suppliers, Denmark, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, 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 import price for sweet biscuits, waffles and wafers amounted to $X per ton, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a 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 Germany ($X per ton), while the price for India ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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