Hong Kong SAR, China - Frozen Fruits And Vegetables - Market Analysis, Forecast, Size, Trends And Insights
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View PricingOctober 2023 Sees Hong Kong's Frozen Fruits and Vegetables Import Decrease by 3% to $9.8M
Hong Kong Frozen Fruits And Vegetables Imports
In October 2023, overseas purchases of frozen fruits and vegetables were finally on the rise to reach 5.8K tons for the first time since July 2023, thus ending a two-month declining trend. Overall, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in May 2023 when imports increased by 45% month-to-month.
In value terms, frozen fruits and vegetables imports shrank slightly to $9.8M (IndexBox estimates) in October 2023. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in May 2023 with an increase of 39% m-o-m. As a result, imports attained the peak of $11M. From June 2023 to October 2023, the growth of imports remained at a somewhat lower figure.
| COUNTRY | Import Value of Frozen Fruits And Vegetables in Hong Kong (million USD) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 | May 2023 | Jun 2023 | Jul 2023 | Aug 2023 | Sep 2023 | Oct 2023 | |
| United States | 4.6 | 4.0 | 4.8 | 3.0 | 4.8 | 1.9 | 2.7 | 3.3 | 2.9 | 3.7 | 4.1 | 3.4 | 4.2 |
| China | 1.7 | 1.9 | 1.9 | 1.7 | 1.2 | 3.3 | 1.8 | 4.6 | 3.3 | 4.0 | 2.6 | 2.9 | 2.9 |
| Netherlands | 0.4 | 0.6 | 0.2 | 0.9 | 0.4 | 0.5 | 1.0 | 0.3 | 0.3 | 0.4 | 0.7 | 0.8 | 0.5 |
| Belgium | 0.3 | 0.2 | 0.2 | 0.3 | < 0.1 | 0.2 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.2 | 0.3 |
| Others | 2.1 | 1.6 | 1.6 | 1.6 | 2.8 | 1.7 | 2.2 | 2.5 | 2.0 | 2.3 | 2.1 | 2.9 | 1.9 |
| Total | 9.2 | 8.3 | 8.8 | 7.5 | 9.1 | 7.6 | 7.9 | 11.0 | 9.0 | 10.7 | 9.9 | 10.2 | 9.8 |
Imports by Country
China (2.5K tons), the United States (2.3K tons) and the Netherlands (237 tons) were the main suppliers of frozen fruits and vegetables imports to Hong Kong, together accounting for 87% of total imports.
From October 2022 to October 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +4.4%), while imports for the other leaders experienced mixed trend patterns.
In value terms, the United States ($4.2M), China ($2.9M) and the Netherlands ($487K) were the largest frozen fruits and vegetables suppliers to Hong Kong, together accounting for 77% of total imports.
China, with a CAGR of +4.6%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Imports by Type
Frozen potatoes (2.9K tons), frozen vegetables other than potato and corn (2.3K tons) and frozen sweet corn (418 tons) were the main products of frozen fruits and vegetables imports to Hong Kong, together accounting for 97% of total imports. These products were followed by frozen fruit and nuts, which accounted for a further 2.7%.
From October 2022 to October 2023, the most notable rate of growth in terms of purchases, amongst the major product types, was attained by frozen fruit and nuts (with a CAGR of +5.2%), while imports for the other products experienced mixed trend patterns.
In value terms, the most traded types of frozen fruits and vegetables in Hong Kong were frozen potatoes ($5.2M), frozen vegetables other than potato and corn ($3.3M) and frozen fruit and nuts ($728K), with a combined 94% share of total imports.
Import Prices by Country
In October 2023, the frozen fruits and vegetables price stood at $1,707 per ton (CIF, Hong Kong), reducing by -7% against the previous month. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in February 2023 an increase of 13% month-to-month. As a result, import price attained the peak level of $2,019 per ton. From March 2023 to October 2023, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In October 2023, the country with the highest price was the Netherlands ($2,054 per ton), while the price for China ($1,155 per ton) was amongst the lowest.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (+1.5%), while the prices for the other major suppliers experienced more modest paces of growth.
This report provides an in-depth analysis of the market for frozen fruits and vegetables in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 447 - Sweet Corn, Frozen
- FCL 473 - Vegetables, Frozen
Country coverage:
- Hong Kong SAR
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Hong Kong SAR, China
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
