□Major trends in Hong Kong’s home meal replacement (HMR) market

Published 2024년 12월 9일

Tridge summary

The convenience food market in Hong Kong is projected to grow to $1.51 billion in 2024 at a rate of 4.4% per year, driven by long working hours, high dual-income households, and a diverse population with a demand for convenient, health-conscious food options. Surveys show a shift towards healthier eating habits, with a majority of consumers trying to eat healthily and avoid artificial flavorings and preservatives. Home-meal replacement products, including Korean food, are becoming more popular, with local brands offering customized diet options and subscription services, and convenience stores releasing cost-effective products. The market is expected to continue to grow, particularly among office workers and young adults who value convenience and time efficiency.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Launch of various cost-effective and health-conscious products Market size in 2023: approximately $1.4 billion Long working hours and high dual-income household ratio Demand for convenience food continues to increase Diverse races and cultures coexist Diverse home-meal replacement products from around the world Korean food grows again after pandemic According to global market research firm Statista, the size of the convenience food market in Hong Kong in 2023 was $1.44 billion, and is expected to reach $1.51 billion in 2024. This trend is expected to continue, growing at an average of 4.4% per year until 2029. Hong Kong has a high rate of eating out due to relatively long working hours, cramped living environments, and a high dual-income household ratio, and the demand for convenient home-meal replacements is also steadily increasing. In fact, the average working hours in Hong Kong are very long. According to the ‘2024 Job Seeker Salary Report’ published by JobsDB by SEEK, the ...

Source: Fisheco