In 2023, Hong Kong was the 17th-largest market for U.S. agricultural products globally. That same year, the United States exported $1.5 billion of agricultural products and was the third-largest supplier of consumer-oriented food products to Hong Kong after China and Australia. Hong Kong is a significant market for U.S. exports of beef, poultry, tree nuts, and other agricultural products. Hong Kong's total imports of agricultural products were $19.7 billion, and its economy grew 3.3 percent in 2023.
Tree nuts
U.S. tree nuts have strong market potential in Hong Kong, supported by a premium product reputation, trends in healthy eating, and re-export advantages. U.S. exports of tree nuts to Hong Kong fell from $1.2 billion in 2017 to $153.0 million in 2023, a decrease of 88 percent. Due to a lack of suitable climate and adequate agricultural space, Hong Kong is not able to support the production of certain tree nuts, and the entire domestic demand is supplied by imports. U.S. tree nuts, particularly almonds, walnuts, and pistachios, continue to be popular due to their health benefits and quality, especially among health-conscious younger consumers. People often consume tree nuts as convenient snacks or incorporate them into baked goods and meals as sources rich in protein, fiber, and healthy fats. Additionally, Hong Kong relies on imported almonds to re-export to mainland China and neighboring Asian markets. Euromonitor International expects U.S. tree nuts to remain popular among Hong Kong consumers because of their favorable brand image and wholesome reputation as a provider of safe and nutritious nuts.
Fresh fruits
The United States exported $122.0 million of fresh fruits to Hong Kong in 2023, up 16 percent from $105.0 million in 2022, but down from its high of $291.0 million in 2017. Some of the largest U.S. fresh fruit exports were apples, blueberries, cherries, and citrus fruits. The market potential for U.S. fresh fruit exports to Hong Kong is robust, driven by consumer preferences for high-quality imports and health-conscious diets. Consumers highly regard U.S. apples, citrus fruits, cherries, grapes, and strawberries, among other fruits, for their quality, taste, and food safety standards. Health-conscious customers increasingly seek fresh fruits such as apples, citrus fruits, and berries that they perceive as natural sources of vitamins and antioxidants. Moreover, Hong Kong customers consume a high amount of daily fresh fruits in the form of snacks, meals, and desserts. During seasonal periods and festivals, such as the Lunar New Year, U.S. fruits such as apples and grapes are considered special gifts. The market potential for U.S. fresh fruit exports will remain significant, supported by strong consumer demand, a high-quality reputation, and increasing health-conscious eating trends.
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