Market research

Milk market in Hong Kong

Release date: Mar 30, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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Earlier Report Observations

The milk market in Hong Kong began the period at a volume of 194.4 thousand tons in 2018, supported by broader industry development driven by reforms and the introduction of advanced processing technologies. While the market volume dipped slightly to 187.9 thousand tons in 2019, its value rose to $683 million as consumer preferences shifted towards more nutritious products like yogurt and cheese, increasing average prices.

The COVID-19 pandemic in 2020 significantly reduced consumption, leading to a sharp drop in market volume to 162.0 thousand tons and value to $521 million. The subsequent industry adjustment phase and changing demand structures towards functional and specialty dairy products continued to pressure the market, with volume declining further to 147.2 thousand tons by 2022.

Market volume recovered to 152.4 thousand tons in 2023, with value reaching $365 million, amidst intensified competition and falling prices for imported dairy products. Structural shifts, including growing consumption of functional milk and adult milk powder, alongside heightened consumer focus on health, continued to reshape the market landscape.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In kind
    1. 4.1.1.1. Production, 2018-2023
    2. 4.1.1.2. Imports, 2018-2024
    3. 4.1.1.3. Exports, 2018-2024
    4. 4.1.1.4. Market size, 2018-2023
  2. 4.1.2. In value
    1. 4.1.2.1. Production, 2018-2023
    2. 4.1.2.2. Imports, 2018-2024
    3. 4.1.2.3. Exports, 2018-2024
    4. 4.1.2.4. Market size, 2018-2023
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Hong Kong
  1. 5.1.1. Annual dynamics of production in Hong Kong in kind, 2018-2023, kg
  2. 5.1.2. Annual dynamics of production in Hong Kong in value, 2018-2023, $ US
2. 5.2. Global production by Country, 2018-2023
  1. 5.2.1. Annual dynamics of production by macroregions in kind, 2018-2023, kg
  2. 5.2.2. Dynamics of production structure by macroregions in kind, 2018-2023
  3. 5.2.3. Annual dynamics of production by country in kind, 2018-2023, kg
  4. 5.2.4. Structure of production by countries in kind, 2018-2023
  5. 5.2.5. Dynamics of peoduction structure by countries in kind, 2018-2023
6. Exports
1. 6.1. Exports (Direct Data)
  1. 6.1.1. Exports - Total information
  2. 6.1.2. Exports in kind, K t
    1. 6.1.2.1. Annual dynamics of product's exports from Hong Kong in kind, 2018-2024, K t
    2. 6.1.2.2. Dynamics of product's exports in kind from Hong Kong by countries, 2018-2024, K t
    3. 6.1.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 6.1.3. Exports in value, M $ US
    1. 6.1.3.1. Annual dynamics of product's exports from Hong Kong in value, 2018-2024, M $ US
    2. 6.1.3.2. Dynamics of product's exports in value from Hong Kong by countries, 2018-2024, M $ US
    3. 6.1.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 6.1.4. Average price of product's exports, $ US/kg
    1. 6.1.4.1. Annual dynamics of average price of product's exports from Hong Kong, 2018-2024, $ US/kg
    2. 6.1.4.2. Dynamics of average price of product's exports from Hong Kong by countries, 2018-2024, $ US/kg
2. 6.2. Exports (Mirror Data)
  1. 6.2.1. Exports - Total information
  2. 6.2.2. Exports in kind, K t
    1. 6.2.2.1. Annual dynamics of product's exports from Hong Kong in kind, 2018-2024, K t
    2. 6.2.2.2. Dynamics of product's exports in kind from Hong Kong by countries, 2018-2024, K t
    3. 6.2.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 6.2.3. Exports in value, M $ US
    1. 6.2.3.1. Annual dynamics of product's exports from Hong Kong in value, 2018-2024, M $ US
    2. 6.2.3.2. Dynamics of product's exports in value from Hong Kong by countries, 2018-2024, M $ US
    3. 6.2.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 6.2.4. Average price of product's exports, $ US/kg
    1. 6.2.4.1. Annual dynamics of average price of product's exports from Hong Kong, 2018-2024, $ US/kg
    2. 6.2.4.2. Dynamics of average price of product's exports from Hong Kong by countries, 2018-2024, $ US/kg
7. Imports
1. 7.1. Imports (Direct Data)
  1. 7.1.1. Imports - Total information
  2. 7.1.2. Imports in kind, K t
    1. 7.1.2.1. Annual dynamics of product's imports to Hong Kong in kind, 2018-2024, K t
    2. 7.1.2.2. Dynamics of product's imports in kind to Hong Kong by countries, 2018-2024, K t
    3. 7.1.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 7.1.3. Imports in value, M $ US
    1. 7.1.3.1. Annual dynamics of product's imports to Hong Kong in value, 2018-2024, M $ US
    2. 7.1.3.2. Dynamics of product's imports in value to Hong Kong by countries, 2018-2024, M $ US
    3. 7.1.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 7.1.4. Average price of product's imports, $ US/kg
    1. 7.1.4.1. Annual dynamics of average price of product's imports to Hong Kong, 2018-2024, $ US/kg
    2. 7.1.4.2. Dynamics of average price of product's imports to Hong Kong by countries, 2018-2024, $ US/kg
2. 7.2. Imports (Mirror Data)
  1. 7.2.1. Imports - Total information
  2. 7.2.2. Imports in kind, K t
    1. 7.2.2.1. Annual dynamics of product's imports to Hong Kong in kind, 2018-2024, K t
    2. 7.2.2.2. Dynamics of product's imports in kind to Hong Kong by countries, 2018-2024, K t
    3. 7.2.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 7.2.3. Imports in value, M $ US
    1. 7.2.3.1. Annual dynamics of product's imports to Hong Kong in value, 2018-2024, M $ US
    2. 7.2.3.2. Dynamics of product's imports in value to Hong Kong by countries, 2018-2024, M $ US
    3. 7.2.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 7.2.4. Average price of product's imports, $ US/kg
    1. 7.2.4.1. Annual dynamics of average price of product's imports to Hong Kong, 2018-2024, $ US/kg
    2. 7.2.4.2. Dynamics of average price of product's imports to Hong Kong by countries, 2018-2024, $ US/kg
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, K t
  2. 8.1.2. In value, M $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, K t
  2. 8.2.2. In value, M $ US
9. Top buying and selling countries, 2018-2024
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production milk in Hong Kong

In kind, 2017-2020, kg

Top producers of milk, 2017-2020

Source: SHEV.io

World map of production of milk, 2017-2020

Source: SHEV.io

Milk production in Hong Kong remained broadly stable in 2020, with 60 000 kg produced. The largest change recorded was in 2018, showing no significant variation at 0.0%.

Annual dynamics of production in Hong Kong in kind, 2017-2020, kg

Parameter		2018	2019	2020	CAGR
1	Change from last year	-	-	-	-

Source: SHEV.io

In value, 2017-2020, K $ US

Following two years of growth, milk production in Hong Kong declined in 2020. Output was valued at 838.8 K $ US, representing a solid 14.0% decrease compared to 2019. Over the 2017-2020 period, production increased by 7.9%, with a compound annual growth rate of 2.6%. The highest value was recorded in 2019 at 975.1 K $ US, while the largest increase occurred in 2018 at 23.5%.

Annual dynamics of production in Hong Kong in value, 2017-2020, K $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	23.5%	1.5%	(14.0%)	2.6%

Source: SHEV.io

Exports milk from Hong Kong

Exports in kind, K t

Cross-border shipments of milk from Hong Kong declined for the second consecutive year in 2020, totaling 36.8 K t. This marked a steep 39.0% year-over-year reduction. Between 2017 and 2020, exports decreased by 38.4%, with a compound annual growth rate of -14.9%. The peak was in 2018 at 64.4 K t, and the largest increase also occurred that year at 7.7%.

Annual dynamics of product's exports from Hong Kong in kind, 2017-2020, K t

Parameter		2018	2019	2020	CAGR
1	Change from last year	7.7%	(6.3%)	(39.0%)	(14.9%)

Source: SHEV.io

From 2017 to 2020, two key markets—China and Macao—dominated Hong Kong's milk exports in kind, together accounting for 99.5% of total flows.

Structure of product's exports in kind by countries, 2017-2020

Source: SHEV.io

World map of product's exports from Hong Kong in kind, 2017-2020

Source: SHEV.io

Exports in value, M $ US

Hong Kong's milk export value declined for the second consecutive year in 2020, reaching 515 M $ US. This represented a 47.5% decrease compared to 2019. Over the 2017-2020 period, exports decreased by 33.6%, with a compound annual growth rate of -12.7%. The maximum value was recorded in 2018 at 1 031 M $ US, and the largest increase also occurred that year at 33.0%.

Annual dynamics of product's exports from Hong Kong in value, 2017-2020, M $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	33.0%	(4.9%)	(47.5%)	(12.7%)

Source: SHEV.io

Between 2017 and 2020, China and Macao played key roles in Hong Kong's milk exports in value terms, together accounting for 99.8% of total flows.

Structure of product's exports in value by countries, 2017-2020

Source: SHEV.io

World map of product's exports from Hong Kong in value, 2017-2020

Source: SHEV.io

Imports milk to Hong Kong

Imports in kind, K t

Hong Kong's volume of milk imports declined for the second consecutive year in 2020, amounting to 198.7 K t. This marked a robust 19.9% decrease relative to the prior year. Between 2017 and 2020, imports decreased by 18.4%, equating to an annualized rate of -6.6%. The peak was in 2018 at 258.8 K t, and the largest increase also occurred that year at 6.3%.

Annual dynamics of product's imports to Hong Kong in kind, 2017-2020, K t

Parameter		2018	2019	2020	CAGR
1	Change from last year	6.3%	(4.1%)	(19.9%)	(6.6%)

Source: SHEV.io

From 2017 to 2020, the partner portfolio for milk imports in kind to Hong Kong was quite broad. The Netherlands (20.1% of imports in kind), China (16.0%), and New Zealand (11.4%) together represented 47.5% of total flows.

Structure of product's imports in kind by countries, 2017-2020

Source: SHEV.io

World map of product's imports to Hong Kong in kind, 2017-2020

Source: SHEV.io

Imports in value, M $ US

After a two-year increase, milk shipments to Hong Kong from abroad declined in 2020, recorded at 1 035 M $ US. This indicated a sharp 37.7% fall from 2019. Over the 2017-2020 period, imports decreased by 27.6%, with a compound annual growth rate of -10.2%. The maximum value was in 2019 at 1 662 M $ US, while the largest increase occurred in 2018 at 15.4%.

Annual dynamics of product's imports to Hong Kong in value, 2017-2020, M $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	15.4%	0.8%	(37.7%)	(10.2%)

Source: SHEV.io

Over 2017–2020, the Netherlands (35.3% of imports in value terms), New Zealand (16.3%), and China (15.3%) stood out as the main markets for Hong Kong's milk imports in value terms, together representing 66.8% of total flows.

Structure of product's imports in value by countries, 2017-2020

Source: SHEV.io

World map of product's imports to Hong Kong in value, 2017-2020

Source: SHEV.io