Report Update: Apr 1, 2024

Hong Kong SAR, China - Cherries and Sour Cherries - Market Analysis, Forecast, Size, Trends and Insights

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Price for Cherry and Sour Cherry in Hong Kong SAR - 2023

Price for Cherry and Sour Cherry in Hong Kong SAR (CIF) - 2022

In 2022, the average cherry and sour cherry import price amounted to $5,964 per ton, rising by 6.4% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by 15%. As a result, import price attained the peak level of $6,228 per ton. From 2014 to 2022, the average import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($8,050 per ton), while the price for Chile totaled $5,902 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.3%).

Price for Cherry and Sour Cherry in Hong Kong SAR (FOB) - 2023

The average cherry and sour cherry export price stood at $6,127 per ton in June 2023, growing by 136% against the previous month. Overall, the export price posted a mild expansion. The most prominent rate of growth was recorded in November 2022 an increase of 177% against the previous month. As a result, the export price reached the peak level of $11,033 per ton. From December 2022 to June 2023, the the average export prices remained at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In June 2023, the country with the highest price was China ($7,295 per ton), while the average price for exports to Macao SAR stood at $5,072 per ton.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (+3.2%).

Imports of Cherry and Sour Cherry in Hong Kong SAR

In 2022, approx. 224K tons of cherries and sour cherries were imported into Hong Kong SAR; which is down by -20.8% on 2021 figures. Over the period under review, total imports indicated a prominent increase from 2019 to 2022: its volume increased at an average annual rate of +5.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +53.5% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 94%. As a result, imports reached the peak of 283K tons, and then contracted sharply in the following year.

In value terms, cherry and sour cherry imports fell notably to $1.3B in 2022. In general, total imports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +10.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +55.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 84% against the previous year. As a result, imports reached the peak of $1.6B, and then reduced notably in the following year.

Import of Cherry and Sour Cherry in Hong Kong SAR (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Chile	903	800	1,517	1,279	12.3%
United States	48.3	27.6	25.7	15.9	-31.0%
Others	38.3	35.1	44.7	43.0	3.9%
Total	990	862	1,588	1,338	10.6%

Top Suppliers of Cherry and Sour Cherry to Hong Kong SAR in 2022:

Chile (216.7K tons)
United States (2.0K tons)

Exports of Cherry and Sour Cherry in Hong Kong SAR

In 2022, exports of cherries and sour cherries from Hong Kong SAR shrank modestly to 237K tons, approximately mirroring 2021 figures. Over the period under review, total exports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +12.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +43.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 44%. As a result, the exports reached the peak of 238K tons, leveling off in the following year.

In value terms, cherry and sour cherry exports skyrocketed to $1.3B in 2022. In general, total exports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +19.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +68.4% against 2019 indices. The pace of growth was the most pronounced in 2021 when exports increased by 27% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

Export of Cherry and Sour Cherry in Hong Kong SAR (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	764	848	1,073	1,286	19.0%
Others	1.2	1.4	1.5	1.8	14.5%
Total	765	849	1,074	1,288	19.0%

Top Export Markets for Cherry and Sour Cherry from Hong Kong SAR in 2022:

China (236.9K tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for cherry and sour cherry 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 530 - Sour cherries
FCL 531 - Cherries

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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023