Market Insights Consumer Food Sauces & Spices

Spices & Culinary Herbs - Hong Kong

Hong Kong

Revenue in the Salt & Other Spices market amounts to €132.20m in 2024. The market is expected to grow annually by 4.56% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (€9,666m in 2024).
In relation to total population figures, per person revenues of €17.64 are generated in 2024.
In the Salt & Other Spices market, volume is expected to amount to 8.22m kg by 2029. The Salt & Other Spices market is expected to show a volume growth of 2.0% in 2025.
The average volume per person in the Salt & Other Spices market is expected to amount to 1.0kg in 2024.

Key regions: United Kingdom, Spain, Japan, India, South Korea

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Spices & Culinary Herbs Market in Hong Kong is experiencing slow growth, impacted by factors like changing consumer tastes and preferences, increasing competition, and limited availability of high-quality ingredients. Despite the negligible growth rate, the market is driven by the convenience of online shopping and the growing demand for premium and exotic spices.

Customer preferences: Consumers in Hong Kong are increasingly gravitating towards healthier and more sustainable food options, leading to a rising demand for organic and locally-sourced spices and herbs. The trend is driven by a growing awareness of the benefits of natural ingredients and a desire for more environmentally-friendly products. As a result, many brands are now offering certified organic and fair-trade options to cater to this shift in consumer preferences. Additionally, the use of traditional Chinese herbs and spices in modern cooking is also gaining popularity, as consumers seek to incorporate traditional remedies into their daily diets.

Trends in the market: In Hong Kong, the Spices & Culinary Herbs market is experiencing a surge in demand for all-natural and organic products, with consumers becoming more health-conscious and seeking healthier options for their meals. This trend is expected to continue as consumers become more aware of the potential health benefits of using spices and herbs in their cooking. This presents an opportunity for industry stakeholders to tap into the growing demand for natural and organic spices and herbs. Additionally, there is a rising trend of incorporating international flavors into traditional Chinese dishes, creating a fusion of cuisines that appeals to a wider audience. This trend is likely to continue as Hong Kong's food culture becomes more diverse and open to new flavors and ingredients. Industry players can capitalize on this trend by offering a variety of international spices and herbs to cater to the evolving tastes of consumers.

Local special circumstances: In Hong Kong, the Spices & Culinary Herbs Market within the Sauces & Spices Market of The Food market is influenced by the city's diverse cultural influences. With a rich history of Chinese and British colonial influences, Hong Kong offers a unique blend of traditional and modern flavors in its cuisine. Additionally, strict food safety regulations and a growing trend towards healthy eating have also shaped the market, with a demand for organic and natural herbs and spices. The market is also impacted by the city's high population density and limited space, leading to a strong demand for convenient and versatile spice blends.

Underlying macroeconomic factors: The Spices & Culinary Herbs Market of the Sauces & Spices Market within The Food market is greatly impacted by macroeconomic factors in Hong Kong. The country's strong economic growth, stable political environment, and strategic geographic location make it an ideal market for spices and herbs. Additionally, the growing trend of healthy eating and demand for exotic flavors in Hong Kong's culinary scene has further boosted the demand for spices and herbs. Furthermore, the government's initiatives to promote the food industry and investments in food processing technology have also contributed to the growth of the market. However, the market is also influenced by global factors such as trade policies, currency fluctuations, and supply chain disruptions, which may affect the availability and pricing of spices and herbs in Hong Kong.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.