Dairy Products and Alternatives in Hong Kong, China

Report
73 Pages
September 2023
Region: China, Hong Kong
Euromonitor International
ID: 5616114

Retail volume sales of dairy products and alternatives in Hong Kong showed a slight resurgence in 2022 as the pandemic subsided, and this is set to continue in 2023, benefiting from the restoration of local consumption and the return of tourists. Amongst these products, baby food is set to experience a particularly remarkable rebound in 2023, following substantial declines observed over a number of years.

The Dairy Products and Alternatives in Hong Kong, China report offers in-depth knowledge of the market at a national level, providing local insight and understanding unavailable elsewhere. In addition to the latest retail sales data 2018-2022, it identifies the leading companies, brands and retail outlets, and assesses the key trends and demographic shifts behind consumer demand and sales growth. How key trends such as health and wellness, sustainability and recovery from the pandemic are shaping the market in 2023 directly informs the forecasts to 2027, clearly indicating how the market is expected to change.

Product coverage: Baby Food, Dairy, Plant-based Dairy.

Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.

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Get a detailed picture of the Dairy Products and Alternatives market
Pinpoint growth sectors and identify factors driving change
Understand the competitive environment, the market’s major players and leading brands
Use five-year forecasts to assess how the market is predicted to develop

The analyst has over 40 years' experience of publishing market research reports, business reference books and online information systems. With offices in London, Chicago, Singapore, Shanghai, Vilnius, Dubai, Cape Town, Santiago, Sydney, Tokyo and Bangalore and a network of over 800 analysts worldwide, The analyst has a unique capability to develop reliable information resources to help drive informed strategic planning.

EXECUTIVE SUMMARY

Dairy products and alternatives in 2023: The big picture
Key trends in 2023
Competitive landscape
Channel developments
What next for dairy products and alternatives?

MARKET DATA

Table 1 Sales of Dairy Products and Alternatives by Category: Value 2018-2023
Table 2 Sales of Dairy Products and Alternatives by Category: % Value Growth 2018-2023
Table 3 NBO Company Shares of Dairy Products and Alternatives: % Value 2019-2023
Table 4 LBN Brand Shares of Dairy Products and Alternatives: % Value 2020-2023
Table 5 Penetration of Private Label by Category: % Value 2018-2023
Table 6 Distribution of Dairy Products and Alternatives by Format: % Value 2018-2023
Table 7 Forecast Sales of Dairy Products and Alternatives by Category: Value 2023-2028
Table 8 Forecast Sales of Dairy Products and Alternatives by Category: % Value Growth 2023-2028

DISCLAIMER

SOURCES

Summary 1 Research Sources

BABY FOOD IN HONG KONG, CHINAKEY DATA FINDINGS

2023 DEVELOPMENTS

Recovery of baby food hindered by lower than anticipated demand from tourists from mainland China
Players in milk formula shift emphasis to digestive health and immune system
Milk formula players adapt to changing consumer preferences

PROSPECTS AND OPPORTUNITIES

Sluggish growth forecast, as the birth rate is set to continue to decline
Strict regulations in mainland China favour milk formula in Hong Kong, which is used as a testing ground

CATEGORY DATA

Table 9 Sales of Baby Food by Category: Volume 2018-2023
Table 10 Sales of Baby Food by Category: Value 2018-2023
Table 11 Sales of Baby Food by Category: % Volume Growth 2018-2023
Table 12 Sales of Baby Food by Category: % Value Growth 2018-2023
Table 13 Sales of Growing-Up Milk Formula by Age: % Value 2018-2023
Table 14 NBO Company Shares of Baby Food: % Value 2019-2023
Table 15 LBN Brand Shares of Baby Food: % Value 2020-2023
Table 16 Distribution of Baby Food by Format: % Value 2018-2023
Table 17 Forecast Sales of Baby Food by Category: Volume 2023-2028
Table 18 Forecast Sales of Baby Food by Category: Value 2023-2028
Table 19 Forecast Sales of Baby Food by Category: % Volume Growth 2023-2028
Table 20 Forecast Sales of Baby Food by Category: % Value Growth 2023-2028

BUTTER AND SPREADS IN HONG KONG, CHINAKEY DATA FINDINGS

2023 DEVELOPMENTS

Butter consumption surges, driven by health and wellness and the rise of coffee culture
Consumption of margarine and spreads declines due to ongoing health and wellness trend
Consumers shift towards private label as unit prices soar

PROSPECTS AND OPPORTUNITIES

Health and wellness will continue to drive shifts in consumer preference
Foodservice opportunities for margarine due to shifts in tourist behaviour

CATEGORY DATA

Table 21 Sales of Butter and Spreads by Category: Volume 2018-2023
Table 22 Sales of Butter and Spreads by Category: Value 2018-2023
Table 23 Sales of Butter and Spreads by Category: % Volume Growth 2018-2023
Table 24 Sales of Butter and Spreads by Category: % Value Growth 2018-2023
Table 25 NBO Company Shares of Butter and Spreads: % Value 2019-2023
Table 26 LBN Brand Shares of Butter and Spreads: % Value 2020-2023
Table 27 Distribution of Butter and Spreads by Format: % Value 2018-2023
Table 28 Forecast Sales of Butter and Spreads by Category: Volume 2023-2028
Table 29 Forecast Sales of Butter and Spreads by Category: Value 2023-2028
Table 30 Forecast Sales of Butter and Spreads by Category: % Volume Growth 2023-2028
Table 31 Forecast Sales of Butter and Spreads by Category: % Value Growth 2023-2028

CHEESE IN HONG KONG, CHINAKEY DATA FINDINGS

2023 DEVELOPMENTS

Rising value sales of cheese due to price rises and the return of expatriates
Demand for cheese flourishes in the foodservice channel, due to the popularity of Western cuisine and the return to dining out

PROSPECTS AND OPPORTUNITIES

The rise of private label cheese amidst rising unit prices
Health and wellness trend will continue to drive demand for cheese in Hong Kong

CATEGORY DATA

Table 32 Sales of Cheese by Category: Volume 2018-2023
Table 33 Sales of Cheese by Category: Value 2018-2023
Table 34 Sales of Cheese by Category: % Volume Growth 2018-2023
Table 35 Sales of Cheese by Category: % Value Growth 2018-2023
Table 36 Sales of Spreadable Processed Cheese by Type: % Value 2018-2023
Table 37 Sales of Soft Cheese by Type: % Value 2018-2023
Table 38 NBO Company Shares of Cheese: % Value 2019-2023
Table 39 LBN Brand Shares of Cheese: % Value 2020-2023
Table 40 Distribution of Cheese by Format: % Value 2018-2023
Table 41 Forecast Sales of Cheese by Category: Volume 2023-2028
Table 42 Forecast Sales of Cheese by Category: Value 2023-2028
Table 43 Forecast Sales of Cheese by Category: % Volume Growth 2023-2028
Table 44 Forecast Sales of Cheese by Category: % Value Growth 2023-2028

DRINKING MILK PRODUCTS IN HONG KONG, CHINAKEY DATA FINDINGS

2023 DEVELOPMENTS

Resurgence of sales in foodservice drives the consumption of drinking milk products
Major milk players in Hong Kong employ varied strategies to revitalise retail demand
Coffee culture drives demand for drinking milk products in foodservice

PROSPECTS AND OPPORTUNITIES

Stagnant retail performance over the forecast period due to continuous decline in the birth rate and emigration trend
Forecast growth in foodservice demand to be driven by the shift in trends amongst tourists

CATEGORY DATA

Table 45 Sales of Drinking Milk Products by Category: Volume 2018-2023
Table 46 Sales of Drinking Milk Products by Category: Value 2018-2023
Table 47 Sales of Drinking Milk Products by Category: % Volume Growth 2018-2023
Table 48 Sales of Drinking Milk Products by Category: % Value Growth 2018-2023
Table 49 NBO Company Shares of Drinking Milk Products: % Value 2019-2023
Table 50 LBN Brand Shares of Drinking Milk Products: % Value 2020-2023
Table 51 Distribution of Drinking Milk Products by Format: % Value 2018-2023
Table 52 Forecast Sales of Drinking Milk Products Products by Category: Volume 2023-2028
Table 53 Forecast Sales of Drinking Milk Products Products by Category: Value 2023-2028
Table 54 Forecast Sales of Drinking Milk Products Products by Category: % Volume Growth 2023-2028
Table 55 Forecast Sales of Drinking Milk Products Products by Category: % Value Growth 2023-2028

YOGHURT AND SOUR MILK PRODUCTS IN HONG KONG, CHINAKEY DATA FINDINGS

2023 DEVELOPMENTS

The ongoing health and wellness trend sustains growing demand for flavoured and plain yoghurt
Yakult Hong Kong adopts strategies to counter decline in demand for drinking yoghurt

PROSPECTS AND OPPORTUNITIES

Recovery in tourism and dining outside the home drive demand for yoghurt in foodservice
Probiotic substitute products threaten yoghurt consumption

CATEGORY DATA

Table 56 Sales of Yoghurt and Sour Milk Products by Category: Volume 2018-2023
Table 57 Sales of Yoghurt and Sour Milk Products by Category: Value 2018-2023
Table 58 Sales of Yoghurt and Sour Milk Products by Category: % Volume Growth 2018-2023
Table 59 Sales of Yoghurt and Sour Milk Products by Category: % Value Growth 2018-2023
Table 60 Sales of Flavoured Yoghurt by Flavour: Rankings 2018-2023
Table 61 NBO Company Shares of Yoghurt and Sour Milk Products: % Value 2019-2023
Table 62 LBN Brand Shares of Yoghurt and Sour Milk Products: % Value 2020-2023
Table 63 Distribution of Yoghurt and Sour Milk Products by Format: % Value 2018-2023
Table 64 Forecast Sales of Yoghurt and Sour Milk Products by Category: Volume 2023-2028
Table 65 Forecast Sales of Yoghurt and Sour Milk Products by Category: Value 2023-2028
Table 66 Forecast Sales of Yoghurt and Sour Milk Products by Category: % Volume Growth 2023-2028
Table 67 Forecast Sales of Yoghurt and Sour Milk Products by Category: % Value Growth 2023-2028

OTHER DAIRY IN HONG KONG, CHINAKEY DATA FINDINGS

2023 DEVELOPMENTS

Consumer shift towards healthier alternatives reflects in declining demand for other dairy products
Rising unit prices drive consumer shift towards private label

PROSPECTS AND OPPORTUNITIES

Promising prospects for foodservice consumption, as cafés and Cha Chaan Teng drive demand
Adapting other dairy products to the health and wellness trend

CATEGORY DATA

Table 68 Sales of Other Dairy by Category: Volume 2018-2023
Table 69 Sales of Other Dairy by Category: Value 2018-2023
Table 70 Sales of Other Dairy by Category: % Volume Growth 2018-2023
Table 71 Sales of Other Dairy by Category: % Value Growth 2018-2023
Table 72 Sales of Cream by Type: % Value 2018-2023
Table 73 NBO Company Shares of Other Dairy: % Value 2019-2023
Table 74 LBN Brand Shares of Other Dairy: % Value 2020-2023
Table 75 Distribution of Other Dairy by Format: % Value 2018-2023
Table 76 Forecast Sales of Other Dairy by Category: Volume 2023-2028
Table 77 Forecast Sales of Other Dairy by Category: Value 2023-2028
Table 78 Forecast Sales of Other Dairy by Category: % Volume Growth 2023-2028
Table 79 Forecast Sales of Other Dairy by Category: % Value Growth 2023-2028

PLANT-BASED DAIRY IN HONG KONG, CHINAKEY DATA FINDINGS

2023 DEVELOPMENTS

Resilient demand and steady growth for soy drinks, despite price increases
Growing demand for oat milk fuels fierce competition and innovation

PROSPECTS AND OPPORTUNITIES

Foodservice embraces oat milk and expands oat milk beyond beverages
Plant-based cheese and yoghurt are challenged by texture and consistency expectations

CATEGORY DATA

Table 80 Sales of Plant-Based Dairy by Category: Value 2018-2023
Table 81 Sales of Plant-Based Dairy by Category: % Value Growth 2018-2023
Table 82 Sales of Other Plant-Based Milk by Type: % Value 2020-2023
Table 83 NBO Company Shares of Plant-Based Dairy: % Value 2019-2023
Table 84 LBN Brand Shares of Plant-Based Dairy: % Value 2020-2023
Table 85 Distribution of Plant-Based Dairy by Format: % Value 2018-2023
Table 86 Forecast Sales of Plant-Based Dairy by Category: Value 2023-2028
Table 87 Forecast Sales of Plant-Based Dairy by Category: % Value Growth 2023-2028

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