Pastry market in Hong Kong

Earlier Report Observations

The pastry market volume in Hong Kong contracted from 53 652 tons in 2018 to 43 039 tons in 2020, with a sharp drop likely influenced by the global COVID-19 pandemic. A recovery began in 2021, and the market expanded strongly to 53 993 tons in 2022 and 66 900 tons in 2023. This growth coincided with global trends noted in 2022, including rising demand for convenient bakery products due to busier lifestyles and the significant expansion of online retail and direct-to-consumer sales channels, which improved market access.

The market's expansion was primarily supported by rising imports, which increased from 68 260 tons in 2020 to 93 928 tons by 2024, while exports declined after a peak in 2021. This shift in trade balance made more pastry products available for domestic consumption. Global supply chain disruptions and commodity price volatility affected costs, but market growth continued as manufacturers adapted to consumer preferences for healthier options like reduced-sugar and gluten-free products, and navigated regulatory changes such as the U.S. bioengineered food labeling standard which impacted compliance for imported goods.

Local pastry production steadily declined from 1 505 tons in 2018 to 1 290 tons in 2023, indicating growing reliance on imports. The entry of new players like Unearthed with premium chilled savory pastries introduced new product segments. Investments in automation by major global companies addressed industry labor shortages, while consumer-driven premiumization and gourmet trends further shaped the market's offerings in Hong Kong.

Production pastry in Hong Kong

In kind, 2017-2020, t

Top producers of pastry, 2017-2020

World map of production of pastry, 2017-2020

Market performance showed noticeable fluctuations during the period. The lowest {context} {volume} was recorded in 2017, while the highest occurred in 2018, representing a peak-to-trough ratio of {ampRatio} times. In Hong Kong, pastry production reached 1 390 tons in 2020, marking a 5.5% decrease compared to 2019.

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

In value, 2017-2020, K $ US

Hong Kong's pastry production increased for the second consecutive year. In 2020, the output value of pastry in Hong Kong was 14 712 thousand US dollars, remaining stable year-over-year.

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

Exports pastry from Hong Kong

Exports in kind, t

After two years of growth, pastry exports from Hong Kong declined. In 2020, Hong Kong exported 26 612 tons of pastry, representing a 3.1% decrease from the previous year. Between 2017 and 2020, exports increased by 5.9%, equivalent to an annualized rate of 1.9%. The highest export volume was recorded in 2019 at 27 472 tons, while the largest annual increase occurred in 2018 at 4.6%.

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

From 2017 to 2020, China and Macao accounted for 83.0% of total pastry exports in volume, with the remaining share distributed among other destinations, each contributing smaller individual amounts.

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

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

Exports in value, M $ US

Hong Kong's pastry export value increased for the third consecutive year. In 2020, exports amounted to 281.6 million US dollars, showing a slight increase of 2.8% compared to 2019. Between 2017 and 2020, exports grew by 37.3%, equating to an annualized rate of 11.2%.

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

From 2017 to 2020, the geographical pattern of pastry exports in value terms was characterized by the strong dominance of China, which accounted for 73.3% of total flows, while other partners held relatively minor shares.

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

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

Imports pastry to Hong Kong

Imports in kind, t

Imported pastry volumes in Hong Kong declined for the second consecutive year. In 2020, imports reached 68 260 tons, which is 11.2% less than the previous year. Between 2017 and 2020, imports decreased by 5.6%, equivalent to an annualized rate of 1.9%. The highest import volume was recorded in 2018 at 78 432 tons, while the largest annual increase also occurred in 2018 at 8.5%.

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

From 2017 to 2020, China (50.5% of imports in volume), Japan (12.4% of imports in volume), and South Korea (6.0% of imports in volume) were the principal sources for imports, jointly accounting for 68.9% of total flows.

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

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

Imports in value, M $ US

Pastry import volumes in Hong Kong declined for the second consecutive year. In 2020, Hong Kong imported a total of 292.3 million US dollars worth of pastry, down by 7.9% compared to 2019. The highest import value was recorded in 2018 at 337.3 million US dollars, while the largest annual increase also occurred in 2018 at 14.6%.

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

From 2017 to 2020, China (38.7% of imports in value terms), Japan (22.2% of imports in value terms), and Asia, not elsewhere specified (5.6% of imports in value terms) remained the leading sources in the country structure of imports, with a combined share of 66.5% of total flows.

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

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