Hong Kong Baby Food Market Size by Categories, Distribution Channel, Market Share and Forecast, 2022-2027

Hong Kong Baby Food Market Size by Categories, Distribution Channel, Market Share and Forecast, 2022-2027

Summary

“Hong Kong Baby Food Market Size by Categories, Distribution Channel, Market Share and Forecast, 2022-2027” is an analytical report by GlobalData which provides extensive and highly detailed current and future market trends in the Indian market.

The number of live births in Hong Kong declined by 37.7% during 2015-21, to reach 60,900 in 2021. This resulted in a baby population of 0.1 million in 2021. However, the crude birth rate has fallen. The GDP of Hong Kong grew by 6.4% in 2021 primarily owing to the successful COVID-19 vaccination campaigns, while consumer price inflation stood at 1.6%. Sales have decreased in value terms in recent years with the sector registering a negative CAGR of 0.3% during 2015-21. Similarly, in volume terms, sales declined in 2021, with the sector registering a negative CAGR of 4.4%. Baby milks remained by far the largest category in value terms with over 95% of the baby food sector, followed by baby wet meals & other. Royal FrieslandCampina and Mead Johnson (Reckitt Benckiser) were the top two companies in 2021. Royal FrieslandCampina retained the top spot in value and volume terms during 2015-21. Hypermarkets & supermarkets remained the leading distribution channel, accounting for over 75% of overall value sales in 2021. GlobalData estimates that the number of live births will decrease over the forecast period in Hong Kong. Consequently, the market for baby food in the country is expected to decline in volume terms during 2021-27, registering negative CAGRs of 0.6%.

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.

• Value sales of baby milks decreased from HKD1,582 million ($204.1 million) in 2015 to HKD1,522.7 million ($195.9 million) in 2021, dropping at a negative CAGR of 0.6% during this period.
• Volume sales of baby cereals & dry meals fell from 0.39 million kg in 2015 to 0.3 million kg in 2021, at a negative CAGR of 4.6%.
• Value sales of the baby wet meals & other category rose from HKD86 million ($11.1 million) in 2015 to HKD98.4 million ($12.7 million) in 2021, registering a CAGR of 2.3% during 2015-21.
• In volume terms, the baby finger food category contracted slightly from 0.09 million kg in 2015 to 0.08 million kg in 2021, declining at a negative CAGR of 2.9%.
• During 2015-21, per capita expenditure on baby drinks declined by 20.1% in current price terms and by 28.4% in constant price terms.

• 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.