Hong Kong Baby Food - Market Assessment and Forecasts to 2028

Hong Kong Baby Food - Market Assessment and Forecasts to 2028

Summary

The number of live births in Hong Kong declined by 44.4% during 2016-22, reaching 34,500 in 2022. This resulted in a baby population of 116,700 in 2022. The GDP of Hong Kong declined by 3.5% in 2022, due to rising borrowing costs and decreased global demand, while consumer price inflation stood at 2.1%. Overall sales in value terms have decreased in recent years with the sector registering a negative CAGR of 2.9% during 2016-22. In volume terms, sales declined in 2022 registering a negative CAGR of 9.9% during 2016-22. Baby milks remained the largest category in value terms with over 85% of the baby food sector, followed by baby cereals & dry meals. FrieslandCampina and Mead Johnson (Reckitt Benckiser) were the top two companies in 2022. Hypermarkets & supermarkets remained the leading distribution channel, accounting for over 75% of overall value sales in 2022. GlobalData estimates that the number of live births will decrease over the forecast period in Hong Kong. The market for baby food in the country is expected to decrease in value terms during 2022-28, registering a negative CAGR of 9.9%.

“Hong Kong Baby Food - Market Assessment and Forecasts to 2028” is an analytical report by GlobalData which provides extensive and highly detailed current and future market trends in the Hong Kong market.

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.

Scope

• Value sales of the baby milks category decreased from HKD1.7 billion ($214.4 million) in 2016 to HKD1.4 billion ($175.7 million) in 2022, declining at a CAGR of 3.1%.
• Value sales of the baby cereals & dry meals category fell from HKD108 million ($13.9 million) in 2016 to HKD93.4 million ($11.9 million) in 2022, declining at a CAGR of 2.4%.
• Value sales of the baby wet meals and other category decreased from HKD94 million ($12.1 million) in 2016 to HKD90.2 million ($11.5 million) in 2022, registering a negative CAGR of 0.7%.
• Value sales of the baby finger food category grew from HKD36 billion ($4.6 million) in 2016 to HKD39.3 billion ($5 million) in 2022, registering a CAGR of 1.5%.
• The baby drinks category’s value sales fell from HKD2 million ($0.3 million) in 2016 to HKD1.6 million ($0.2 million) in 2022, registering a negative CAGR of 3.4%.

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.