Growth rates in packaged food remained consistent over the review period as moderate growth was registered overall. The industry’s positive performance continues to be supported by rising sales for the leading international players, most of which continuously advertise and promote their products, and strong growth in online sales.
Although the pace of life has always been very hectic in Hong Kong, the hustle and bustle of the very densely populated territory seems to have become even more intense in recent years. With many consumers already having adapted their lifestyles to this accelerated pace of life, many are now forced to take extreme measures to make the most of every minute in their already incredibly busy schedules.
Large multinational companies such as Nestlé, Wyeth and Mead Johnson Nutrition continue to lead packaged food in Hong Kong. However, at least half of the top ten players at industry level are baby food companies that benefit from very high sales of infant formula to visitors from Mainland China.
Faced with the shelves of chained modern grocery retailers being dominated by major international brands, niche brands have typically been reliant on independent grocery retailers for distribution. However, with rising internet penetration having boosted consumer interest in internet retailing, many niche products are becoming more widely available online and consumers are increasingly attracted to the generous price discounts and convenient delivery options that internet retailers offer.
Rising health consciousness has led many packaged food players to focus their new product development on the health and wellness trend. The government is playing a major role by imposing new regulations that encourage manufacturers to improve nutritional content and clearly display ingredients on packaging to ensure that consumers are informed.
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Discover the latest market trends and uncover sources of future market growth for the Packaged food industry in Hong Kong, China with research from Euromonitor's team of in-country analysts.
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This industry report originates from Passport, our Packaged Food market research database.