Hong Kong SAR, China - Bread and Bakery Product - Market Analysis, Forecast, Size, Trends and Insights
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View PricingHong Kong's Bread and Bakery Imports Reach $474 Million in 2023
Hong Kong Bread and Bakery Imports
In 2023, the amount of bread and bakery imported into Hong Kong expanded sharply to 108K tons, picking up by 9.4% against the previous year. In general, imports continue to indicate a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, bread and bakery imports dropped slightly to $474M (IndexBox estimates) in 2023. The total import value increased at an average annual rate of +1.7% from 2013 to 2023; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 12%. As a result, imports reached the peak of $500M. From 2019 to 2023, the growth of imports failed to regain momentum.
| COUNTRY | Import Value of Bread and Bakery in Hong Kong (million USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| China | 147 | 152 | 147 | 151 | 136 | 165 | 142 | 117 | 138 | 155 | 151 |
| Japan | 58.8 | 65.0 | 85.5 | 97.4 | 92.9 | 106 | 100 | 99.4 | 129 | 118 | 119 |
| Taiwan (Chinese) | 22.9 | 20.6 | 22.2 | 21.5 | 20.5 | 22.5 | 22.4 | 21.1 | 21.6 | 27.2 | 26.5 |
| United Kingdom | 15.2 | 18.1 | 20.2 | 20.2 | 26.0 | 29.8 | 25.6 | 26.6 | 26.0 | 24.0 | 23.7 |
| Indonesia | 22.5 | 24.4 | 27.9 | 25.7 | 27.8 | 25.4 | 24.1 | 23.4 | 19.4 | 17.9 | 19.5 |
| South Korea | 13.1 | 12.8 | 18.7 | 15.6 | 15.5 | 13.9 | 14.7 | 18.9 | 21.4 | 19.7 | 19.0 |
| Denmark | 30.3 | 29.9 | 27.1 | 39.6 | 18.9 | 27.6 | 23.7 | 13.8 | 16.5 | 13.5 | 12.5 |
| Others | 91.6 | 96.1 | 99.0 | 105 | 108 | 111 | 116 | 93.3 | 87.4 | 98.8 | 102 |
| Total | 401 | 419 | 448 | 476 | 445 | 500 | 469 | 414 | 458 | 474 | 474 |
Imports by Country
In 2023, China (49K tons) constituted the largest bread and bakery supplier to Hong Kong, accounting for a 45% share of total imports. Moreover, bread and bakery imports from China exceeded the figures recorded by the second-largest supplier, Japan (16K tons), threefold. The third position in this ranking was held by the UK (6K tons), with a 5.5% share.
From 2013 to 2023, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+9.0% per year) and the UK (+7.0% per year).
In value terms, the largest bread and bakery suppliers to Hong Kong were China ($151M), Japan ($119M) and Taiwan (Chinese) ($26M), with a combined 63% share of total imports.
In terms of the main suppliers, Japan, with a CAGR of +7.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Imports by Type
In 2023, fresh bread and miscellaneous bakery (85K tons) constituted the largest type of bread and bakery supplied to Hong Kong, accounting for a 78% share of total imports. Moreover, fresh bread and miscellaneous bakery exceeded the figures recorded for the second-largest type, gingerbread, sweet biscuits and waffles (22K tons), fourfold.
From 2013 to 2023, the average annual rate of growth in terms of the volume of fresh bread and miscellaneous bakery imports was relatively modest. With regard to the other supplied products, the following average annual rates of growth were recorded: gingerbread, sweet biscuits and waffles (+1.1% per year) and crispbread, rusks and toasted bread (+3.6% per year).
In value terms, fresh bread and miscellaneous bakery ($370M) constituted the largest type of bread and bakery supplied to Hong Kong, comprising 78% of total imports. The second position in the ranking was held by gingerbread, sweet biscuits and waffles ($98M), with a 21% share of total imports.
Import Prices by Country
In 2023, the bread and bakery price amounted to $4,370 per ton (CIF, Hong Kong), waning by -8.6% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 7.7% against the previous year. The import price peaked at $4,782 per ton in 2022, and then contracted in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($7,291 per ton), while the price for the Philippines ($2,302 per ton) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.
This report provides an in-depth analysis of the bread and bakery market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 10721130 - Crispbread
- Prodcom 10721230 - Gingerbread and the like
- Prodcom 10721255 - Sweet biscuits (including sandwich biscuits, excluding those completely or partially coated or covered with chocolate or other preparations containing cocoa)
- Prodcom 10721259 - Waffles and wafers (including salted) (excluding those completely or partially coated or covered with chocolate or other preparations containing cocoa)
- Prodcom 10721150 - Rusks, toasted bread and similar toasted products
- Prodcom 10711100 - Fresh bread containing by weight in the dry matter state . 5 % of sugars and . 5 % of fat (excluding with added honey, e ggs, cheese or fruit)
- Prodcom 10711200 - Cake and pastry products, other bakers
- Prodcom 10721910 - Matzos
- Prodcom 10721920 - Communion wafers, empty cachets of a kind suitable for pharmaceutical use, sealing wafers, rice paper and similar products
- Prodcom 10721940 - Biscuits (excluding those completely or partially coated or covered with chocolate or other preparations containing cocoa, sweet biscuits, waffles and wafers)
- Prodcom 10721950 - Savoury or salted extruded or expanded products
- Prodcom 10721990 - Bakersu2019 wares, no added sweetening (including crepes, pancakes, quiche, pizza; excluding sandwiches, crispbread, waffles, wafers, rusks, toasted, savoury or salted extruded/expanded products)
Country coverage:
- Hong Kong SAR
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Hong Kong SAR, China
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
