The Baby Food Market in Hong Kong, 2017
- March 2017 •
- 149 pages •
- Report ID: 4794543
“The Baby Food Market in Hong Kong, 2017” is an analytical report by GlobalData which provides extensive and highly detailed current and future market trends in the Hong Kong market.
Hong Kong stands out as an extremely well developed baby food market. Total sales of baby food were 60% higher in 2016 than in 2010 in terms of volume. In value terms, sales more than doubled over the same period. Total sales in Hong Kong still include a large proportion of sales destined for mainland China. The domestic market has shown much slower growth than the overall market, with volume sales rising by only 16.5%, although retail value has increased by 62%, or 28% at constant 2010 prices. The lower growth is attributable to the fact that the milks sector in the domestic market is approaching saturation level. Hong Kong is primarily a trading center. It has virtually no natural resources and is therefore dependent on imports of raw materials, food, and fuel. The economy is generally strong, built on a sound banking system, the strength of its stock exchange. The country performed well up to 2015. However, 2016 saw slower annual growth, estimated at 1.6%, as trade in goods and services has declined.
What else does this report offer?
- Consumption data based upon a unique combination of industry research, fieldwork, market sizing work and our in-house expertise to offer extensive data about the trends and dynamics affecting the industry.
- Detailed profile of the companies operating and new companies considering entry in the industry along with their key focus product sectors.
- Market profile of the various product sectors with the key features & developments, segmentation, per capita trends and the various manufacturers & brands.
- Overview of baby food retailing with a mention of the major retailers in the country along with the distribution channel.
- Future projections considering various trends which are likely to affect the industry.
- Hong Kong’s Baby food market is unique in that it is distorted by a huge parallel trade in infant formula with China, which is roughly twice the size of domestic consumption in Hong Kong itself. Total sales of baby food were 60% higher in 2016 than in 2010 in terms of volume.
- Milks are by far the most important sector in the Hong Kong baby food market, accounting for 96.3% of overall value in 2016 and 93.4% of volume.
- Four multinationals - Mead Johnson, Nestlé, Abbott, and FrieslandCampina - hold a combined 84% of value. Danone is now in fifth place, and is recovering from the Fonterra incident
- Hong Kong’s packaged food sales are dominated by hypermarkets, supermarkets and hard discount outlets, which accounted for 59% of sales in 2015, up from 57% in 2009.
Reasons to buy
- Evaluate important changes in consumer behavior and identify profitable markets and areas for product innovation.
- Analyse current and forecast behavior trends in each category to identify the best opportunities to exploit.
- Detailed understanding of consumption by individual product categories in order to align your sales and marketing efforts with the latest trends in the market.
- Investigates which categories are performing the best and how this is changing market dynamics.