Hong Kong SAR, China - Soups And Broths - Market Analysis, Forecast, Size, Trends And Insights
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View PricingSoups Price in Hong Kong SAR - 2023
Contents:
- Soups Price in Hong Kong SAR (CIF) - 2023
- Soups Price in Hong Kong SAR (FOB) - 2023
- Soups Imports in Hong Kong SAR
- Soups Exports in Hong Kong SAR
Soups Price in Hong Kong SAR (CIF) - 2023
In June 2023, the average soups import price amounted to $3,191 per ton, growing by 10% against the previous month. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in March 2023 when the average import price increased by 28% m-o-m. As a result, import price attained the peak level of $3,483 per ton. From April 2023 to June 2023, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was Taiwan (Chinese) ($6,110 per ton), while the price for Spain ($788 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by China (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Soups Price in Hong Kong SAR (FOB) - 2023
The average soups export price stood at $2,689 per ton in June 2023, surging by 19% against the previous month. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in April 2023 when the average export price increased by 30% against the previous month. Over the period under review, the average export prices hit record highs at $3,289 per ton in January 2023; however, from February 2023 to June 2023, the export prices remained at a lower figure.
Average prices varied noticeably for the major export markets. In June 2023, the country with the highest price was Macao SAR ($2,777 per ton), while the average price for exports to China ($2,475 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to New Zealand (+1.9%), while the prices for the other major destinations experienced mixed trend patterns.
Soups Imports in Hong Kong SAR
In 2022, supplies from abroad of soups and broths decreased by -7% to 31K tons, falling for the second consecutive year after two years of growth. The total import volume increased at an average annual rate of +2.8% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 when imports increased by 18% against the previous year. As a result, imports attained the peak of 33K tons. From 2021 to 2022, the growth of imports remained at a lower figure.
In value terms, soups imports amounted to $90M in 2022. The total import value increased at an average annual rate of +5.2% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 17% against the previous year. As a result, imports attained the peak of $91M. From 2021 to 2022, the growth of imports failed to regain momentum.
| Import of Soups in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 33.5 | 38.2 | 34.7 | 31.0 | -2.6% |
| Australia | 6.8 | 9.3 | 16.8 | 25.1 | 54.5% |
| Japan | 8.2 | 9.3 | 9.9 | 8.9 | 2.8% |
| Taiwan (Chinese) | 2.1 | 3.2 | 4.8 | 5.7 | 39.5% |
| South Korea | 1.8 | 3.6 | 4.7 | 5.3 | 43.3% |
| Malaysia | 11.0 | 10.8 | 5.0 | 4.1 | -28.0% |
| United States | 9.4 | 10.3 | 6.6 | 2.9 | -32.4% |
| France | 0.8 | 0.8 | 1.8 | 2.4 | 44.2% |
| Thailand | 1.6 | 2.4 | 2.7 | 2.2 | 11.2% |
| Others | 2.1 | 2.8 | 2.4 | 2.4 | 4.6% |
| Total | 77.2 | 90.7 | 89.6 | 89.9 | 5.2% |
Top Suppliers of Soups to Hong Kong SAR in 2022:
- China (13.7K tons)
- Australia (7.3K tons)
- Japan (1.8K tons)
- France (1.7K tons)
- South Korea (1.3K tons)
- Thailand (1.1K tons)
- United States (1.0K tons)
- Taiwan (Chinese) (0.9K tons)
- Malaysia (0.9K tons)
Soups Exports in Hong Kong SAR
In 2022, the amount of soups and broths exported from Hong Kong SAR declined significantly to 2.2K tons, reducing by -21% against 2021 figures. In general, exports faced a abrupt decline. The smallest decline of -7.2% was in 2020.
In value terms, soups exports fell to $5.5M in 2022. Over the period under review, exports recorded a abrupt setback.
| Export of Soups in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Macao SAR | 3.4 | 3.6 | 3.2 | 3.8 | 3.8% |
| China | 5.7 | 3.7 | 2.6 | 1.3 | -38.9% |
| Others | 0.3 | 0.3 | 0.2 | 0.5 | 18.6% |
| Total | 9.3 | 7.6 | 5.9 | 5.5 | -16.1% |
Top Export Markets for Soups from Hong Kong SAR in 2022:
- Macao SAR (1655.6 tons)
- China (501.9 tons)
This report provides an in-depth analysis of the soups 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 10891100 - Soups and broths and preparations therefor
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
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