Hong Kong SAR, China: Sweet Biscuit Market 2024

Sweet Biscuit Market Size in Hong Kong SAR, China

The Hong Kong sweet biscuit market expanded modestly to $X in 2022, picking up by X% against the previous year. In general, consumption posted a remarkable increase. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Sweet Biscuit Production in Hong Kong SAR, China

In value terms, sweet biscuit production reached $X in 2022 estimated in export price. Over the period under review, production continues to indicate a remarkable increase. The growth pace was the most rapid in 2018 when the production volume increased by X%. Sweet biscuit production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

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Sweet Biscuit Exports

Exports from Hong Kong SAR, China

Sweet biscuit exports from Hong Kong SAR fell sharply to X tons in 2022, which is down by X% on 2021. In general, exports showed a noticeable 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 stood at a somewhat lower figure.

In value terms, sweet biscuit exports shrank dramatically to $X in 2022. Overall, exports, however, showed prominent growth. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, the exports reached the peak of $X, and then declined dramatically in the following year.

Exports by Country

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

From 2012 to 2022, the average annual rate of growth in terms 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 ($X) remains the key foreign market for sweet biscuits exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was taken by Macao SAR ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual growth rate of value 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 South Korea (X% per year).

Export Prices by Country

The average sweet biscuit export price stood at $X per ton in 2022, with a decrease of X% against the previous year. In general, the export price, however, recorded a resilient expansion. The pace of growth appeared the most rapid in 2013 an increase of X%. The export price peaked at $X per ton in 2021, and then declined in the following year.

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

Sweet Biscuit Imports

Imports into Hong Kong SAR, China

In 2022, overseas purchases of sweet biscuits decreased by X% to X tons, falling for the third consecutive year after eight years of growth. In general, total imports indicated mild growth 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 2017 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, sweet biscuit imports shrank to $X in 2022. Overall, total imports indicated a notable increase 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 decreased by X% against 2018 indices. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest sweet biscuit supplier to Hong Kong SAR, with a X% share of total imports. Moreover, sweet biscuit imports from China exceeded the figures recorded by the second-largest supplier, the UK (X tons), twofold. The third position in this ranking was taken by Japan (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled 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, Japan ($X), China ($X) and Denmark ($X) appeared to be the largest sweet biscuit suppliers to Hong Kong SAR, with a combined X% share of total imports.

Among the main suppliers, Denmark, with a CAGR of X%, saw 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 sweet biscuit import price amounted to $X per ton, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. 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.

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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