Country Profile: Dairy & Soy Food Sector in Hong Kong

2017-07-03
Price :
Published : Jul-2017
No. of Pages : 138

Country Profile: Dairy & Soy Food Sector in Hong Kong

Summary

Hong Kong’s Dairy & Soy Food sector was valued at HK$12,283.7 Million (US$1,582.8 Million) in 2016 and is forecast to grow at a CAGR of 4.1% during 2016-2021. Increasing health consciousness and growing consumer demand for nutrient rich diet are the key growth drivers for the sector. Per capita consumption of Dairy & Soy Food products stood at 63.5kg when compared to the global levels of 50kg, in 2016.

Milk is the largest with value sales of HK$5,392.6 Million (US$694.9 Million) in 2016. Furthermore, it is expected to grow at a CAGR of 3+% during the forecast period (2016-2021), while the Soymilk & Soy Drinks market is expected to record the fastest CAGR of 6.1% during the same period.

Hypermarkets & Supermarkets account for a leading share in the distribution of Dairy & Soy Food products in Hong Kong. In 2016, Hypermarkets & Supermarkets held 38+% value share, followed by On-trade transactions, Convenience Stores and Food & Drinks Specialists. Rigid Plastics is the most commonly used packaging material in Hong Kong’s Dairy & Soy Food sector.

Health & Wellness attributes such as ‘Food Intolerance’ and ‘Food Minus’ and consumer benefits such as ‘General Wellbeing’ are the most sought after Health & Wellness claims in Hong Kong’s Dairy & Soy Food sector.

Hong Kong’s GDP per capita grew at a CAGR of 4.3% during 2011-2016. Growing Hong Kong economy has a positive influence with a large Mid-Lifers population base is expected to have an impact on the Bakery & Cereals sector. Kowloon Dairy is the leading brand in Hong Kong’s Dairy & Soy Food sector. The top five brands in the sector accounted for 25.9% value share, while private labels held 11.4% share by value in 2016.

The report “Country Profile: Dairy & Soy Food Sector in Hong Kong” provides insights on high growth markets to target, trends in the usage of packaging materials, category level distribution channel data and market share of brands.

In particular, this report provides the following analysis –
– Market data: Overall market value and volume data with growth analysis for 2011-2021. The overall market value and volume included in the report is split on the basis of On-trade and Off-trade
– Category coverage: Value and growth analysis for Butter & Spreadable Fats, Cheese, Cream, Dairy-Based & Soy-Based Desserts, Drinkable Yogurt, Fromage Frais & Quark, Milk, Soymilk & Soy Drinks, and Yogurt with inputs on individual category share within each market and the change in their market share forecast for 2016-2021
– Leading players: Market share of brands and private labels, including private label growth analysis from 2011-2016
– Distribution data: Percentage of sales within each market through distribution channels such as On-trade, Cash & Carries and warehouse Clubs, Hypermarkets & Supermarkets, Convenience Stores, Food & Drinks Specialists, eRetailers and others
– Packaging data: Consumption breakdown for packaging materials and container types in each market, in terms of percentage share of number of units sold. Packaging material data for Glass, Flexible Packaging, Paper & Board, Rigid Plastics, and others; container data for: Carton, Film, Bag/Sachet, Tub, Wrapper, Bottle, and Tube.

Companies mentioned in this report: Kowloon Dairy Limited, Yakult Honsha Co., Ltd., Nestle S.A., Trappist Dairy (Hong Kong) Limited, Vitasoy International Holdings Limited, Lion Pty Ltd, PT Greenfields Indonesia, Arla Foods, Groupe Lactalis, The Kraft Heinz Company.

Scope

– The Dairy & Soy Food sector in Hong Kong is forecast to grow at 4.1% CAGR in value terms during 2016-2021.
– The per capita consumption of Dairy & Soy Food is higher in Hong Kong compared to the global and regional level.
– Milk is the largest market in value and volume terms in Hong Kong’s Dairy & Soy Food sector
– Hypermarkets & Supermarkets account for a leading share in the distribution of Dairy & Soy Food products in Hong Kong.
– The top five brands in the sector accounted for 25.9% value share, in 2016.
– Rigid Plastics is the most commonly used packaging material in Hong Kong’s Dairy & Soy Food sector.

Reasons to buy

– Identify high potential categories and explore further market opportunities based on detailed value and volume analysis
– Existing and new players can analyze key distribution channels to identify and evaluate trends and opportunities
– Gain an understanding of the total competitive landscape based on detailed brand share analysis to plan effective market positioning
– Manufacturers can identify the opportunities to position products with H&W attributes/benefits
– Access the key and most influential consumer trends driving Dairy & Soy Food products consumption, and how they influence consumer behavior in the market which will help determine the best audiences to target
– Our team of analysts have placed a significant emphasis on changes expected in the market that will provide a clear picture of the opportunities that can be tapped over the next five years, resulting in revenue expansion
– The packaging analysis report helps manufacturers, in identifying the most commonly used packaging materials in the sector
– Analysis on key macro-economic indicators such as GDP per capita, population (overall and breakdown by age), and consumer price index. It also covers a comparative analysis of political, economic, socio-demographic, and technological indicators (PEST) across 50 countries.

Filed in: Food & Beverage
Publisher : GlobalData
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